Maryland state exam life insurance
license practice
A guaranteed issue insurance policy has no medical underwriting - ANS-
A Maryland insurance producer solicit an insurance policy in the event of a controversy
between the insured and the company, the producer is considered to represent the company
- ANS-
A producer who is licensed in Maryland but reside in another state is called a nonresident
producer - ANS-
A producer who sells an individual life insurance policy in Maryland must deliver the policy
owner in the policy summery and buyers guide - ANS-
A securities license is required for a life insurance producer to sell - ANS-Variable life
insurance
A spouse and child can be added to the primary insured's coverage as what kind of rider -
ANS-Family term
A table of ensure that is owed by 12 three owners is called mutual - ANS-
All of the following characteristics of a group life insurance plan except - ANS-Individual
underwriting
Declarations - ANS-In what part of an insurance policy or policy benefits found?
During the accumulation. Who can surrender an annuity - ANS-Policy owner
Eric is 35 years old and owns an IRA at what age can she began to receive distributions
without a tax penalty - ANS-59 1/2
Failing to properly of provide a reasonable exclamation for that now of a claim is considered
to be a - ANS-Unfair claim settlement practice
Fixed period Settlement options are considered to be a form of a - ANS-Annuity
How soon can the benefit payments begin with a deferred annuity - ANS-How soon can the
benefit payments begin with a deferred annuity? A minimum of 12 months after date of
purchase.
If the beneficiary died from the same accident as the insured individual the insurer will
proceed as if - ANS-The insured outlived the beneficiary
In regard to a life insurance contract which of the following statements is not true regarding
the concept of insurable interest - ANS-Insurable interest can be established sufficiently by
sentimental attachment alone
Index whole life insurance Contains a securities component that access as a hedge against
inflation - ANS-
Insurance represents the process of risk - ANS-Transference
Interest on death benefits are not required to be paid by the insurance company as long as
proceeds are paid within 30 days after the date of the death of the insured - ANS-
James is the insured on a life insurance policy where his age was missed stated on the
application which of the following is correct regarding the death benefit amount. The death
benefit paid will be what the premium would have purchased at the correct age - ANS-
license practice
A guaranteed issue insurance policy has no medical underwriting - ANS-
A Maryland insurance producer solicit an insurance policy in the event of a controversy
between the insured and the company, the producer is considered to represent the company
- ANS-
A producer who is licensed in Maryland but reside in another state is called a nonresident
producer - ANS-
A producer who sells an individual life insurance policy in Maryland must deliver the policy
owner in the policy summery and buyers guide - ANS-
A securities license is required for a life insurance producer to sell - ANS-Variable life
insurance
A spouse and child can be added to the primary insured's coverage as what kind of rider -
ANS-Family term
A table of ensure that is owed by 12 three owners is called mutual - ANS-
All of the following characteristics of a group life insurance plan except - ANS-Individual
underwriting
Declarations - ANS-In what part of an insurance policy or policy benefits found?
During the accumulation. Who can surrender an annuity - ANS-Policy owner
Eric is 35 years old and owns an IRA at what age can she began to receive distributions
without a tax penalty - ANS-59 1/2
Failing to properly of provide a reasonable exclamation for that now of a claim is considered
to be a - ANS-Unfair claim settlement practice
Fixed period Settlement options are considered to be a form of a - ANS-Annuity
How soon can the benefit payments begin with a deferred annuity - ANS-How soon can the
benefit payments begin with a deferred annuity? A minimum of 12 months after date of
purchase.
If the beneficiary died from the same accident as the insured individual the insurer will
proceed as if - ANS-The insured outlived the beneficiary
In regard to a life insurance contract which of the following statements is not true regarding
the concept of insurable interest - ANS-Insurable interest can be established sufficiently by
sentimental attachment alone
Index whole life insurance Contains a securities component that access as a hedge against
inflation - ANS-
Insurance represents the process of risk - ANS-Transference
Interest on death benefits are not required to be paid by the insurance company as long as
proceeds are paid within 30 days after the date of the death of the insured - ANS-
James is the insured on a life insurance policy where his age was missed stated on the
application which of the following is correct regarding the death benefit amount. The death
benefit paid will be what the premium would have purchased at the correct age - ANS-
