Maryland Laws & Rules Pertinent To
Property & Casualty Insurance Test.
Questions with Correct Verified
Answers. Graded A
A binder will cease when one of the following happens except:
A. The application is approved and the policy is issued
B. The application is denied
C. The underwriter telephones the insured with their decision
D. The 45 day limit expires - ANS C. The underwriter telephones the
insured with their decision
A buyers guide and policy summary
A. Must be delivered with or prior to policy delivery
B. It is not required in the state of Maryland
C. Must be delivered within 30 days of policy delivery
D. It's only required when a binding receipt is issued - ANSA.
A Domestic insurance company in Maryland must
A. Be formed under Maryland insurance laws
B. Own real estate in Maryland
C. Write insurance on risks located only in Maryland
D. Honor the charter of the national Association of insurance
commissioners - ANSA.
1
, A producer has committed an insurance crime that violates US code 1033
(interstate commerce). Who would be responsible for the prosecution of
this crime?
A. US Attorney General
B. Commissioner
C. Lieutenant governor
D. State senate - ANSA. US Attorney General
A producer must maintain insurance transaction records for a minimum
of____ years.
A. 3
B. 4
C. 5
D. 6 - ANSC. 5
An insurer offers to continue an automobile liability policy for an insured
through a rated driver has a bad driving record which would be grounds for
canceling the policy. The offer is conditioned on excluding the driver with a
bad driving record. The Insured agrees to the offer, and the policy is issued
with what kind of exclusion?
A. Restrictive driver Endorsement
B. Limited driver exclusion
C. Rated driver exclusion
D. Named driver exclusion - ANSD.
2
Property & Casualty Insurance Test.
Questions with Correct Verified
Answers. Graded A
A binder will cease when one of the following happens except:
A. The application is approved and the policy is issued
B. The application is denied
C. The underwriter telephones the insured with their decision
D. The 45 day limit expires - ANS C. The underwriter telephones the
insured with their decision
A buyers guide and policy summary
A. Must be delivered with or prior to policy delivery
B. It is not required in the state of Maryland
C. Must be delivered within 30 days of policy delivery
D. It's only required when a binding receipt is issued - ANSA.
A Domestic insurance company in Maryland must
A. Be formed under Maryland insurance laws
B. Own real estate in Maryland
C. Write insurance on risks located only in Maryland
D. Honor the charter of the national Association of insurance
commissioners - ANSA.
1
, A producer has committed an insurance crime that violates US code 1033
(interstate commerce). Who would be responsible for the prosecution of
this crime?
A. US Attorney General
B. Commissioner
C. Lieutenant governor
D. State senate - ANSA. US Attorney General
A producer must maintain insurance transaction records for a minimum
of____ years.
A. 3
B. 4
C. 5
D. 6 - ANSC. 5
An insurer offers to continue an automobile liability policy for an insured
through a rated driver has a bad driving record which would be grounds for
canceling the policy. The offer is conditioned on excluding the driver with a
bad driving record. The Insured agrees to the offer, and the policy is issued
with what kind of exclusion?
A. Restrictive driver Endorsement
B. Limited driver exclusion
C. Rated driver exclusion
D. Named driver exclusion - ANSD.
2
