Maryland Life and Health Insurance
Licensing Exam Questions With
Complete Solutions
After an insured gives notice of loss, what must he/she do if the insurer does not furnish
forms? - Answer-File written proof of loss
/.Which of these factors help determine an insured's life insurance premium? - Answer-
Avocation (hobby)
/.The Life and Health Guaranty Corporation provides funds to carry out its powers and
duties by assessing - Answer-Member insurers
/.Lifetime protection - Answer-A limited payment whole life policy provides
/.Decreasing term life - Answer-The least expensive option to pay off a 30-yea mortgage
balance would be?
/.May never raise premiums - 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 - Answer-What
is an insurance policy's grace period?
/.30 days - Answer-The standard grace period for a life insurance policy sold in
Maryland is
/.At least 21 years old - Answer-Which of the following is NOT a requirement for
soliciting insurance in Maryland?
/.Medicare supplement Plan F - 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 - Answer-A securities license is required for a life insurance
producer to sell
/.Master policy - 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 -
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 - 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 - Answer-The premium for a Modified whole life policy is?
/.Nonresident producer - Answer-A producer who is licensed in Maryland but resident in
another state is called a?
/.Taxable income - 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 - 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) - 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) - Answer-Which of the following is NOT a required provision in an
accident and health insurance policy?
/.Annuity - Answer-Fixed period settlement options are considered to be a form of a(n)
/.Automobile - Answer-Which of these factors is NOT taken into account when
determining an applicant's life insurance needs?
/.Fare-paying passenger - Answer-A life insurance policy normally contains a provision
that restricts coverage in the event of death under all of the following situations
EXCEPT
/.Silver Plan - Answer-According to the Affordable Care Act, what metal tier is required
to have an actuarial value of 70% with covered individuals paying 30% through
deductibles, co-pays, and other cost sharing features?
/.Insurer - Answer-The identity of the ____ must be made clear in every health
insurance advertisement
/.Obtain the beneficiary's signature - Answer-When a producer is replacing an existing
ordinary life insurance policy, the producer must take all of the following actions
EXCEPT
Licensing Exam Questions With
Complete Solutions
After an insured gives notice of loss, what must he/she do if the insurer does not furnish
forms? - Answer-File written proof of loss
/.Which of these factors help determine an insured's life insurance premium? - Answer-
Avocation (hobby)
/.The Life and Health Guaranty Corporation provides funds to carry out its powers and
duties by assessing - Answer-Member insurers
/.Lifetime protection - Answer-A limited payment whole life policy provides
/.Decreasing term life - Answer-The least expensive option to pay off a 30-yea mortgage
balance would be?
/.May never raise premiums - 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 - Answer-What
is an insurance policy's grace period?
/.30 days - Answer-The standard grace period for a life insurance policy sold in
Maryland is
/.At least 21 years old - Answer-Which of the following is NOT a requirement for
soliciting insurance in Maryland?
/.Medicare supplement Plan F - 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 - Answer-A securities license is required for a life insurance
producer to sell
/.Master policy - 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 -
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 - 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 - Answer-The premium for a Modified whole life policy is?
/.Nonresident producer - Answer-A producer who is licensed in Maryland but resident in
another state is called a?
/.Taxable income - 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 - 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) - 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) - Answer-Which of the following is NOT a required provision in an
accident and health insurance policy?
/.Annuity - Answer-Fixed period settlement options are considered to be a form of a(n)
/.Automobile - Answer-Which of these factors is NOT taken into account when
determining an applicant's life insurance needs?
/.Fare-paying passenger - Answer-A life insurance policy normally contains a provision
that restricts coverage in the event of death under all of the following situations
EXCEPT
/.Silver Plan - Answer-According to the Affordable Care Act, what metal tier is required
to have an actuarial value of 70% with covered individuals paying 30% through
deductibles, co-pays, and other cost sharing features?
/.Insurer - Answer-The identity of the ____ must be made clear in every health
insurance advertisement
/.Obtain the beneficiary's signature - Answer-When a producer is replacing an existing
ordinary life insurance policy, the producer must take all of the following actions
EXCEPT
