ABMDI Certification Final Exam – Updated
Real Questions & Detailed Verified Answers
(100% Accuracy Guaranteed!)
•Which of the following statements about a business entity acting as an
insurance agent is CORRECT - Answer: `It must designate at least 1
licensed producer to be responsible for the entity's compliance with the
insurance laws and rules
•Which of the following statements is CORRECT about non-partnership
Long-Term Care insurance? - Answer: Inflation protection must be
offered to applicants for a Long-Term Care policy
•One of the stated purposes of the Life, Accident, and Sickness
Insurance Guaranty Association is to - Answer: assist in the prevention
of insurer insolvencies
•The life insurance and annuity replacement regulation defines
replacement as - Answer: exchanging an existing policy for a new policy
•Each agent shall complete all continuing education requirements by no
later than November 30, and shall be given a final opportunity to
complete such requirements by - Answer: December 31st, every even
year
,•Making incomplete comparisons of policies in order to induce the
purchase of a policy is referred to as - Answer: Twisting
•Health coverage provided under the Affordable Care Act (ACA) shall
be made available for dependents until the child attains the age of: -
Answer: 26
•An agent selling Medicare Supplement policies must provide every
applicant with a(n) - Answer: suitability form
•Insurance agents MUST maintain premiums in a fiduciary capacity and
remit them: - Answer: In the ordinary course of business
•To be eligible for a group life policy, a group MUST meet which of the
following requirements? - Answer: be formed for a purpose other than
obtaining life insurance
•If a licensed resident insurance agent moves out of state, which of the
following will occur - Answer: The agents license shall terminate
immediately
•Which of the following is NOT an example of an agent's breach of
fiduciary duty? - Answer: allowing premiums to be submitted
electronically
, •A person who issues false written or oral statements that are
maliciously critical of the financial condition of an insurance company
may be found guilty of: - Answer: Defamination
•An insurance agent acts in a fiduciary capacity when conducting routine
business with all of the following principals EXCEPT - Answer: The
commission
•What are adjustable rates for life policy loans in Virginia based on -
Answer: Moodys corporate bond index
•A policy loan provision is not required in which of the following types
of policies? - Answer: Term Life
•Which of the following individuals is required to hold an appointment
with an insurance company which they represent? - Answer: An agent
•An insurance agent's license may be suspended or revoked under which
of the following circumstances? - Answer: The agent has been convicted
of a misdemeanor within the past five years
•Select the appropriate response
Insurance agents who must maintain premiums in a fiduciary account
may withdraw funds from the account to pay all of the following
expenses, EXCEPT - Answer: Personal medical expenses
Real Questions & Detailed Verified Answers
(100% Accuracy Guaranteed!)
•Which of the following statements about a business entity acting as an
insurance agent is CORRECT - Answer: `It must designate at least 1
licensed producer to be responsible for the entity's compliance with the
insurance laws and rules
•Which of the following statements is CORRECT about non-partnership
Long-Term Care insurance? - Answer: Inflation protection must be
offered to applicants for a Long-Term Care policy
•One of the stated purposes of the Life, Accident, and Sickness
Insurance Guaranty Association is to - Answer: assist in the prevention
of insurer insolvencies
•The life insurance and annuity replacement regulation defines
replacement as - Answer: exchanging an existing policy for a new policy
•Each agent shall complete all continuing education requirements by no
later than November 30, and shall be given a final opportunity to
complete such requirements by - Answer: December 31st, every even
year
,•Making incomplete comparisons of policies in order to induce the
purchase of a policy is referred to as - Answer: Twisting
•Health coverage provided under the Affordable Care Act (ACA) shall
be made available for dependents until the child attains the age of: -
Answer: 26
•An agent selling Medicare Supplement policies must provide every
applicant with a(n) - Answer: suitability form
•Insurance agents MUST maintain premiums in a fiduciary capacity and
remit them: - Answer: In the ordinary course of business
•To be eligible for a group life policy, a group MUST meet which of the
following requirements? - Answer: be formed for a purpose other than
obtaining life insurance
•If a licensed resident insurance agent moves out of state, which of the
following will occur - Answer: The agents license shall terminate
immediately
•Which of the following is NOT an example of an agent's breach of
fiduciary duty? - Answer: allowing premiums to be submitted
electronically
, •A person who issues false written or oral statements that are
maliciously critical of the financial condition of an insurance company
may be found guilty of: - Answer: Defamination
•An insurance agent acts in a fiduciary capacity when conducting routine
business with all of the following principals EXCEPT - Answer: The
commission
•What are adjustable rates for life policy loans in Virginia based on -
Answer: Moodys corporate bond index
•A policy loan provision is not required in which of the following types
of policies? - Answer: Term Life
•Which of the following individuals is required to hold an appointment
with an insurance company which they represent? - Answer: An agent
•An insurance agent's license may be suspended or revoked under which
of the following circumstances? - Answer: The agent has been convicted
of a misdemeanor within the past five years
•Select the appropriate response
Insurance agents who must maintain premiums in a fiduciary account
may withdraw funds from the account to pay all of the following
expenses, EXCEPT - Answer: Personal medical expenses
