Maryland Life and Health Insurance
Licensing Exam with correct answers
After an insured gives notice of loss, what must he/she do if the
insurer does not furnish forms? - ...,.🔹VERIFIED ANSWER
**✔✔File written proof of loss
Which of these factors help determine an insured's life insurance
premium? - ...,.🔹VERIFIED ANSWER **✔✔Avocation (hobby)
The Life and Health Guaranty Corporation provides funds to carry
out its powers and duties by assessing - ...,.🔹VERIFIED ANSWER
**✔✔Member insurers
Lifetime protection - ...,.🔹VERIFIED ANSWER **✔✔A limited
payment whole life policy provides
Decreasing term life - ...,.🔹VERIFIED ANSWER **✔✔The least
expensive option to pay off a 30-yea mortgage balance would be?
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,May never raise premiums - ...,.🔹VERIFIED ANSWER **✔✔In
contrast to a guaranteed renewable policy, a noncancellable policy
Period of time after the premium is due but the policy remains in
force - ...,.🔹VERIFIED ANSWER **✔✔What is an insurance
policy's grace period?
30 days - ...,.🔹VERIFIED ANSWER **✔✔The standard grace
period for a life insurance policy sold in Maryland is
At least 21 years old - ...,.🔹VERIFIED ANSWER **✔✔Which of
the following is NOT a requirement for soliciting insurance in
Maryland?
Medicare supplement Plan F - ...,.🔹VERIFIED ANSWER
**✔✔Which type of plan would be most appropriate for an
individual on Medicare and is concerned that Medicare will NOT
pay for charges exceeding the approved amount?
Variable life insurance - ...,.🔹VERIFIED ANSWER **✔✔A
securities license is required for a life insurance producer to sell
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,Master policy - ...,.🔹VERIFIED ANSWER **✔✔What is the
contract called that is issued to an employer for a Group Medical
Insurance Plan?
Insurable interest can be established sufficiently by sentimental
attachment alone - ...,.🔹VERIFIED ANSWER **✔✔In regards to a
life insurance contract, which of the following statements is NOT
true regarding the concept of insurable interest?
How to take legal action against an insurance company
- ...,.🔹VERIFIED ANSWER **✔✔Which of the following is NOT
information found in a life insurance buyer's guide?
Lower than the typical whole life policy during the first few years
and then higher than typical for the remainder - ...,.🔹VERIFIED
ANSWER **✔✔The premium for a Modified whole life policy is?
Nonresident producer - ...,.🔹VERIFIED ANSWER **✔✔A
producer who is licensed in Maryland but resident in another state
is called a?
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, Taxable income - ...,.🔹VERIFIED ANSWER **✔✔Justin is
receiving disability income benefits from a group policy paid for by
his employer. How are these benefits treated for tax purposes?
Excludes payments for a short-term illness or injury
- ...,.🔹VERIFIED ANSWER **✔✔The waiting period for a
disability insurance policy
Adjustable Life (Adjustable Life allows the policyowner to change
two policy features: premium and face amount) - ...,.🔹VERIFIED
ANSWER **✔✔A policyowner may change two policy features on
what type of life
Change of occupation (The change of occupation provision is
considered an OPTIONAL provision) - ...,.🔹VERIFIED ANSWER
**✔✔Which of the following is NOT a required provision in an
accident and health insurance policy?
Annuity - ...,.🔹VERIFIED ANSWER **✔✔Fixed period settlement
options are considered to be a form of a(n)
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33
Licensing Exam with correct answers
After an insured gives notice of loss, what must he/she do if the
insurer does not furnish forms? - ...,.🔹VERIFIED ANSWER
**✔✔File written proof of loss
Which of these factors help determine an insured's life insurance
premium? - ...,.🔹VERIFIED ANSWER **✔✔Avocation (hobby)
The Life and Health Guaranty Corporation provides funds to carry
out its powers and duties by assessing - ...,.🔹VERIFIED ANSWER
**✔✔Member insurers
Lifetime protection - ...,.🔹VERIFIED ANSWER **✔✔A limited
payment whole life policy provides
Decreasing term life - ...,.🔹VERIFIED ANSWER **✔✔The least
expensive option to pay off a 30-yea mortgage balance would be?
1 \\\\\\/ \\\\\\
33
,May never raise premiums - ...,.🔹VERIFIED ANSWER **✔✔In
contrast to a guaranteed renewable policy, a noncancellable policy
Period of time after the premium is due but the policy remains in
force - ...,.🔹VERIFIED ANSWER **✔✔What is an insurance
policy's grace period?
30 days - ...,.🔹VERIFIED ANSWER **✔✔The standard grace
period for a life insurance policy sold in Maryland is
At least 21 years old - ...,.🔹VERIFIED ANSWER **✔✔Which of
the following is NOT a requirement for soliciting insurance in
Maryland?
Medicare supplement Plan F - ...,.🔹VERIFIED ANSWER
**✔✔Which type of plan would be most appropriate for an
individual on Medicare and is concerned that Medicare will NOT
pay for charges exceeding the approved amount?
Variable life insurance - ...,.🔹VERIFIED ANSWER **✔✔A
securities license is required for a life insurance producer to sell
2 \\\\\\/ \\\\\\
33
,Master policy - ...,.🔹VERIFIED ANSWER **✔✔What is the
contract called that is issued to an employer for a Group Medical
Insurance Plan?
Insurable interest can be established sufficiently by sentimental
attachment alone - ...,.🔹VERIFIED ANSWER **✔✔In regards to a
life insurance contract, which of the following statements is NOT
true regarding the concept of insurable interest?
How to take legal action against an insurance company
- ...,.🔹VERIFIED ANSWER **✔✔Which of the following is NOT
information found in a life insurance buyer's guide?
Lower than the typical whole life policy during the first few years
and then higher than typical for the remainder - ...,.🔹VERIFIED
ANSWER **✔✔The premium for a Modified whole life policy is?
Nonresident producer - ...,.🔹VERIFIED ANSWER **✔✔A
producer who is licensed in Maryland but resident in another state
is called a?
3 \\\\\\/ \\\\\\
33
, Taxable income - ...,.🔹VERIFIED ANSWER **✔✔Justin is
receiving disability income benefits from a group policy paid for by
his employer. How are these benefits treated for tax purposes?
Excludes payments for a short-term illness or injury
- ...,.🔹VERIFIED ANSWER **✔✔The waiting period for a
disability insurance policy
Adjustable Life (Adjustable Life allows the policyowner to change
two policy features: premium and face amount) - ...,.🔹VERIFIED
ANSWER **✔✔A policyowner may change two policy features on
what type of life
Change of occupation (The change of occupation provision is
considered an OPTIONAL provision) - ...,.🔹VERIFIED ANSWER
**✔✔Which of the following is NOT a required provision in an
accident and health insurance policy?
Annuity - ...,.🔹VERIFIED ANSWER **✔✔Fixed period settlement
options are considered to be a form of a(n)
4 \\\\\\/ \\\\\\
33
