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Laws And Rules Pertinent To Insurance Practice
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A life insurance policy can be backdated before the
application date for up to - ANSWER-Six months
Which statement is true regarding Massachusetts
continuing education requirements for license producers?
- ANSWER-A producer must meet specified course
requirements within a three-year period
,Which of the following individuals is eligible to receive a
temporary producer license? - ANSWER-An appointed
employee who is replacing a deceased producer
Which of the following is NOT the responsibility of an
insurer? - ANSWER-Assuming liability for a producer's
unauthorized acts
Notice of information practices must be given to a
policyholder at LEAST every _____years(s) - ANSWER-
Three
,Group life plan sold in Massachusetts typically contain a
conversion option. If the insured elects the option, the new
policy - ANSWER-Does not require evidence of insurability
A producers license in Massachusetts must be renewed
every; - ANSWER-Three years
A life insurance policy holder has been diagnosed with a
terminal illness. Which of the following is off doing payable
to a policy owner who is life expectancy is substantially
reduced due to illness? - ANSWER-Accelerated (living)
benefit. It's often payable to a life insurance policy holder
when a medical condition drastically limit is the insured's
life expectancy
, After the first three years of licensure, a producer must
complete ....credit hours of a continuing education for each
licensing. - ANSWER-45
Which of the following is considered an activity of a daily
living when determining an accelerated life insurance
benefit? - ANSWER-Eating. To qualify for an accelerated
insurance benefit, An individual must be unable to perform
at least two activities of daily living.
Which of these is not a punishment for committing an
unfair and deceptive insurance practice? - ANSWER-
Community service