Maryland life and health insurance exam
questions with correct answers
Which of the following regulates the quality of care provided by a health
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maintenance organization (HMO)? - CORRECT ANSWER✔✔-Secretary of the
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department of health and mental hygiene.
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A marketing system, which utilizes mass media advertising and mail, instead of a
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producer, is called an blank, blank marketing system. - CORRECT ANSWER✔✔-
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Direct response
|
An insurer is life insurance premium rate must be the same for all individuals -
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CORRECT ANSWER✔✔-In the same risk class with equal life expectancy
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Which of these annuity contract features is meant to discourage withdrawals and
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exchanges? - CORRECT ANSWER✔✔-Surrender charges
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Which of these is not used as selection criteria in the underwriting process of a
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life insurance application? - CORRECT ANSWER✔✔-national origin
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Which of the following is not a condition that must be met for an accidental
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death benefit to be paid? - CORRECT ANSWER✔✔-Cause of death must be from a
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job-related injury
| |
,Julie is in need of assistance with one or two activities of daily living. She may be
| | | | | | | | | | | | | | | | |
eligible for a(n) - CORRECT ANSWER✔✔-assisted living facility
| | | | | | |
Doing the application process, a statement made by an applicant that becomes
| | | | | | | | | | | |
part of the contract is considered to be (an) - CORRECT ANSWER✔✔-Warranty
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Qualified long-term care premiums are treated for tax purposes as - CORRECT
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ANSWER✔✔-tax-deductible to the extent they exceed 7 1/2% AGI | | | | | | | |
Where is the difference between a standard risk and is substandard risk
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reflected? - CORRECT ANSWER✔✔-Premium charges | | | |
Jonas is covered with disability insurance through his employer. The employer
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pays 75% of the premium, while Jonas pays the other 25%. What is Jonas' tax
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liability for any benefits paid from the disability plan? - CORRECT ANSWER✔✔-
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Taxes must be paid on 75% of the benefits received
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Traditional Individual Retirement annuity (IRA) distributions must start by -
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CORRECT ANSWER✔✔-April 1st of the year following the participant attains age
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70 1/2 |
Greg had recently been terminated from his job that covered him for group life
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insurance. How long does he have to convert his coverage to an individual policy?
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|- CORRECT ANSWER✔✔-31 days
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, A life insurance policyowner would like a dividend option that results in a limited
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current outlay of funds which dividend option would be chosen? - CORRECT
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ANSWER✔✔-Reduction of premium payment | | |
Which of these policies is considered a whole life policy? - CORRECT
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ANSWER✔✔-Single premium life | |
Medicare part a coinsurance payments are covered by? - CORRECT ANSWER✔✔-
| | | | | | | | | |
Medicare Supplement Plan A | | |
The blank is responsible for determining the appropriateness of a Medicare
| | | | | | | | | | |
supplement policy for an applicant. - CORRECT ANSWER✔✔-Producer
| | | | | | |
Employers paid qualified, long-term care, insurance, premiums are typically -
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CORRECT ANSWER✔✔-Excluded from the employees gross income
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Under a deferred annuity, which contract feature initially charges a 5-10% fee
| | | | | | | | | | | |
that eventually reduces to $0 after a stated amount of time? - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-surrender charge |
What is normally the consequence for not obtaining pre-admission certification
| | | | | | | | | |
prior to receiving inpatient medical care? - CORRECT ANSWER✔✔-A reduction in
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benefits
Kate received a group accident and health termination notice. How many days
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does she have to apply for a converted policy? - CORRECT ANSWER✔✔-31 days
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questions with correct answers
Which of the following regulates the quality of care provided by a health
| | | | | | | | | | | | |
maintenance organization (HMO)? - CORRECT ANSWER✔✔-Secretary of the
| | | | | | | |
department of health and mental hygiene.
| | | | |
A marketing system, which utilizes mass media advertising and mail, instead of a
| | | | | | | | | | | | |
producer, is called an blank, blank marketing system. - CORRECT ANSWER✔✔-
| | | | | | | | | |
Direct response
|
An insurer is life insurance premium rate must be the same for all individuals -
| | | | | | | | | | | | | | |
CORRECT ANSWER✔✔-In the same risk class with equal life expectancy
| | | | | | | | |
Which of these annuity contract features is meant to discourage withdrawals and
| | | | | | | | | | | |
exchanges? - CORRECT ANSWER✔✔-Surrender charges
| | | |
Which of these is not used as selection criteria in the underwriting process of a
| | | | | | | | | | | | | | |
life insurance application? - CORRECT ANSWER✔✔-national origin
| | | | | |
Which of the following is not a condition that must be met for an accidental
| | | | | | | | | | | | | | |
death benefit to be paid? - CORRECT ANSWER✔✔-Cause of death must be from a
| | | | | | | | | | | | |
job-related injury
| |
,Julie is in need of assistance with one or two activities of daily living. She may be
| | | | | | | | | | | | | | | | |
eligible for a(n) - CORRECT ANSWER✔✔-assisted living facility
| | | | | | |
Doing the application process, a statement made by an applicant that becomes
| | | | | | | | | | | |
part of the contract is considered to be (an) - CORRECT ANSWER✔✔-Warranty
| | | | | | | | | | |
Qualified long-term care premiums are treated for tax purposes as - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-tax-deductible to the extent they exceed 7 1/2% AGI | | | | | | | |
Where is the difference between a standard risk and is substandard risk
| | | | | | | | | | | |
reflected? - CORRECT ANSWER✔✔-Premium charges | | | |
Jonas is covered with disability insurance through his employer. The employer
| | | | | | | | | | |
pays 75% of the premium, while Jonas pays the other 25%. What is Jonas' tax
| | | | | | | | | | | | | | |
liability for any benefits paid from the disability plan? - CORRECT ANSWER✔✔-
| | | | | | | | | | |
Taxes must be paid on 75% of the benefits received
| | | | | | | | |
Traditional Individual Retirement annuity (IRA) distributions must start by -
| | | | | | | | | |
CORRECT ANSWER✔✔-April 1st of the year following the participant attains age
| | | | | | | | | | |
70 1/2 |
Greg had recently been terminated from his job that covered him for group life
| | | | | | | | | | | | | |
insurance. How long does he have to convert his coverage to an individual policy?
| | | | | | | | | | | | |
|- CORRECT ANSWER✔✔-31 days
| | |
, A life insurance policyowner would like a dividend option that results in a limited
| | | | | | | | | | | | | |
current outlay of funds which dividend option would be chosen? - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-Reduction of premium payment | | |
Which of these policies is considered a whole life policy? - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-Single premium life | |
Medicare part a coinsurance payments are covered by? - CORRECT ANSWER✔✔-
| | | | | | | | | |
Medicare Supplement Plan A | | |
The blank is responsible for determining the appropriateness of a Medicare
| | | | | | | | | | |
supplement policy for an applicant. - CORRECT ANSWER✔✔-Producer
| | | | | | |
Employers paid qualified, long-term care, insurance, premiums are typically -
| | | | | | | | | |
CORRECT ANSWER✔✔-Excluded from the employees gross income
| | | | | |
Under a deferred annuity, which contract feature initially charges a 5-10% fee
| | | | | | | | | | | |
that eventually reduces to $0 after a stated amount of time? - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-surrender charge |
What is normally the consequence for not obtaining pre-admission certification
| | | | | | | | | |
prior to receiving inpatient medical care? - CORRECT ANSWER✔✔-A reduction in
| | | | | | | | | | |
benefits
Kate received a group accident and health termination notice. How many days
| | | | | | | | | | | |
does she have to apply for a converted policy? - CORRECT ANSWER✔✔-31 days
| | | | | | | | | | | |
