Maryland Laws and Rules Exam Latest
Edition Questions with Correct
Verified Answers. Graded A
A buyer's guide and policy summary must be - ANS delivered with or prior
to policy delivery
A buyer's guide MUST - ANS Have it's content approved by the
commissioner
A dependent child may remain on a parent's health insurance plan beyond
the age of 26 if the child - ANS has mental or physical handicap
A health insurance policy may NOT be contested by the insurance
company after the policy has been in force for a MINIMUM of - ANStwo
years
A life insurance policy cannot charge a fixed rate of interest higher than -
ANS8%
a life insurance policyowner is allowed ___ days upon policy delivery to
return the policy for a full premium refund - ANS10
A life insurance policyowner is allowed ___ days upon policy delivery to
return the policy for a full premium refund. - ANS10
1
,A life insurance replacement gives the policyowner the right to return the
policy for a 100% refund within ___ days of policy delivery - ANS30
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
1. insured
2. beneficiary
3. company
4. policyholder - ANS3
A producer license is not required - ANSwhen providing referrals
A producer may begin to solicit insurance ONLY when
1.registered for the state insurance examination
2. licensed by the state
3. appointed by an insurer
4. none of these - ANS3
A producer MUST maintain insurance transaction records for a minimum of
____ years - ANS5
2
, A producer who is licensed in Maryland but resident in another state is
called a
1. nonresident producer
2. foreign producer
3. reciprocal producer
4. limited lines producer - ANS1
A producer who sells an individual life insurance policy in Maryland MUST
deliver to the policyowner - ANSpolicy summery & buyers guide
A producer's license may only be suspended or revoked if the producer -
ANShas been afforded a right to a hearing
A violation of US Code 1033, who is responsible for prosecution? - ANSUS
Attorney General
ABC Corporation has a group life insurance policy that covers its
employees and their dependent children. Which of the following would be
considered a "dependent child"?
1.Employed 22 year old child who relies on the insured employee for
financial support
2.Child over the age of 18 years who attends an educational institution and
relies on the insured employee for financial support
3
Edition Questions with Correct
Verified Answers. Graded A
A buyer's guide and policy summary must be - ANS delivered with or prior
to policy delivery
A buyer's guide MUST - ANS Have it's content approved by the
commissioner
A dependent child may remain on a parent's health insurance plan beyond
the age of 26 if the child - ANS has mental or physical handicap
A health insurance policy may NOT be contested by the insurance
company after the policy has been in force for a MINIMUM of - ANStwo
years
A life insurance policy cannot charge a fixed rate of interest higher than -
ANS8%
a life insurance policyowner is allowed ___ days upon policy delivery to
return the policy for a full premium refund - ANS10
A life insurance policyowner is allowed ___ days upon policy delivery to
return the policy for a full premium refund. - ANS10
1
,A life insurance replacement gives the policyowner the right to return the
policy for a 100% refund within ___ days of policy delivery - ANS30
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
1. insured
2. beneficiary
3. company
4. policyholder - ANS3
A producer license is not required - ANSwhen providing referrals
A producer may begin to solicit insurance ONLY when
1.registered for the state insurance examination
2. licensed by the state
3. appointed by an insurer
4. none of these - ANS3
A producer MUST maintain insurance transaction records for a minimum of
____ years - ANS5
2
, A producer who is licensed in Maryland but resident in another state is
called a
1. nonresident producer
2. foreign producer
3. reciprocal producer
4. limited lines producer - ANS1
A producer who sells an individual life insurance policy in Maryland MUST
deliver to the policyowner - ANSpolicy summery & buyers guide
A producer's license may only be suspended or revoked if the producer -
ANShas been afforded a right to a hearing
A violation of US Code 1033, who is responsible for prosecution? - ANSUS
Attorney General
ABC Corporation has a group life insurance policy that covers its
employees and their dependent children. Which of the following would be
considered a "dependent child"?
1.Employed 22 year old child who relies on the insured employee for
financial support
2.Child over the age of 18 years who attends an educational institution and
relies on the insured employee for financial support
3
