TIONS AND VERIFIED ANSWERS|GRADED A+|BRAND NEW 2026 UP-
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?
1
,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 ex-
ceeding the approved amount?
Variable life insurance - ANSWER A securities license is required for a life insurance pro-
ducer 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 - AN-
SWER 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 typi-
cal 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 pol-
icy 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
2
, Adjustable Life (Adjustable Life allows the policyowner to change two policy features: pre-
mium 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 provi-
sion) - 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 determin-
ing 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 or-
dinary life insurance policy, the producer must take all of the following actions EXCEPT
Skilled nursing, intermediate, and custodial care - ANSWER Generally speaking, which
three levels of care are Long-Term Care policies provided with?
All premiums paid, plus interest, minus any withdrawals and surrender charges - AN-
SWER What is the nonforfeiture value of an annuity before annuitization?
3
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?
1
,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 ex-
ceeding the approved amount?
Variable life insurance - ANSWER A securities license is required for a life insurance pro-
ducer 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 - AN-
SWER 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 typi-
cal 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 pol-
icy 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
2
, Adjustable Life (Adjustable Life allows the policyowner to change two policy features: pre-
mium 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 provi-
sion) - 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 determin-
ing 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 or-
dinary life insurance policy, the producer must take all of the following actions EXCEPT
Skilled nursing, intermediate, and custodial care - ANSWER Generally speaking, which
three levels of care are Long-Term Care policies provided with?
All premiums paid, plus interest, minus any withdrawals and surrender charges - AN-
SWER What is the nonforfeiture value of an annuity before annuitization?
3
