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MD LIFE FINAL EXAM COMPLETE GUIDE A field underwriter's main task is n a risk classification to the insured t medical information to the Medical Information Bureau (MIB) ensure an applicant's medical information is accurate and complete approve or decline an applicant ️ ensure an applicant's medical information is accurate and complete A life insurance rider that allows an individual to purchase insurance as they grow older, regardless of insurability, is called a(n) 1. guarant...

MD Laws Verified Solutions A Maryland insurance producer solicits an insurance policy. In the event of a controversy between the insured and the company, the producer is considered to represent the ️company A producer may begin to solicit insurance ONLY when A. registered for the state insurance examination B. licensed by the state C. appointed by an insurer D. none of these ️C. appointed by an insurer A producer who is licensed in Maryland but resident in another state is called a ...

MD Life And Health Insurance Exam Verified Solutions A group of more than 20 employees would have _____ available in any state. A. ERISA B. NAIC C. COBRA D. NAIS ️C. COBRA states that an employer with 20 or more employees must provide notification statements to eligible terminated individuals to extend their group coverage after a qualifying event. A pre-existing condition, is a condition for which an employee has sought Medical advice, diagnosis, or treatment within the previous __ ...

Life and Health Insurance License (Maryland) All Answers Correct "Maximum benefits" refers to the ️upper limit of the total lifetime benefits the insurance company will pay 1033 Waiver ️a personal convicted of a felony may apply for a ____ to transact insurance business. A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n) ️optional renewability clause A disability elimination period is best described as a ️time deductible A di...

Maryland Life Insurance All Answers Correct _______ can be defined as "replacing a policy when it is NOT in the best interest of the client". ️Twisting A "premature" distribution from a modified endowment contract (MEC) incurs a penalty tax of ️10% A Buyer's Guide MUST ️Have it's content approved by the Insurance Commissioner A change in a licensee's name or address must be provided to the Commissioner within ____ days. ️30 A contract is considered void in all of the foll...

Maryland Life And Health General Exam Simulator Verified Solutions A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing A) elimination period B) probationary periods C) benefit limits D) deductibles ️C) benefit limits A group disability income plan that pays tax-free benefits to covered employees is considered A) non-contributory B) partial contributory C) group contributory D) fully contributory ️D) fully contrib...

Maryland State Health and Life Insurance Exam Accidental Death and Dismemberment (AD&D) ️A Disability Income Policy pays a benefit when an insured dies or loses multiple limbs or body parts as a result of an accident. Accidental Injury ️_______Injury is considered unintentional or unforeseen act that causes bodily harm. Agent ️A fiduciary who handles insurer funds in a trust capacity. An_______ always protects the insured by following the Code of Ethics. Agent of Insurer ️The a...

MD Insurance Exam – Life Already Graded A+ Accelrated Benefits ️Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses Accidental Death Benefits ️A policy rider that states that the cause of death will be analyzed to determine if it complies witht he policy description of accidental death Accidental Death Insurance ️An insurance policy that provides payment if the insured's death is the result of an accide...

MD Life and Health Final Exam Verified Answers A+ "Maximum benefits" refers to the ️upper limit of the total lifetime benefits the insurance company will pay A change in an insurance application requires ️an initial made by the applicant A closed network plan offers a primary physician copay of $25. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay ️100% of the billed amount A common exclusion with Vision plans is ️lasik sur...

Maryland State Exam Life Insurance License Practice A guaranteed issue insurance policy has no medical underwriting ️ 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 ️ A producer who is licensed in Maryland but reside in another state is called a nonresident producer ️ A producer who sells an individual life insurance policy in Maryland must deliver the pol...

Maryland Life And Health Insurance ️Evidence of insurability is required when there is a change in premium ️Less than the death benefit ️long term care insurance ️Trust administration fees would reduce policy proceeds A business becoming incorporated is an example of risk ____. ️risk transfer A change in a licensees name or address must be provided to the Commissioner within __ days ️30 A health insurance underwriter will most likely view alcohol as an ️Increase exposure to ...

Maryland Life and Health General Exam Simulator Verified Answers A "premature distribution from a modified endowment contract (MEC) incurs a penalty tax of ️10% A business becoming incorporated is an example of risk ️transfer A certificate of coverage for a group health policy is best described as ️proof of coverage for the employee A contract is considered void in all of the following situations EXCEPT ️when consideration is unequal A description of a qualified plan's insurance...

Maryland Life and Health Exam Already Rated A+ A life insurance applicant wants a combination of savings and insurance protection with guarantees. If the applicant is willing to pay premiums only until the age of 65, at which time the policy is fully paid-up, which of the following should he/she purchase? ️limited pay to whole life age 65 A lump sum of money is placed into an account from which the annuitant will draw periodic benefits beginning more than a year from the date of purcha...

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