Maryland Life and Health Insurance
Licensing Final Exam With Complete
Questions and Correct Answers (verified
answers) Graded A+
Adjustable Life (Adjustable Life allows the policyowner to change two policy
features: premium 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 provision) - {✔✔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 determining 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
If an insured's age on a life insurance policy has been misstated, what is the
insurer's liability if the insured dies? - {✔✔ANSWER✔✔}-A prorated death
benefit based on the amount of insurance the insured's premiums would have
been if purchased at the correct age
Any advertisement that mentions a dollar amount, period of time for which any
benefit is payable, cost of policy, policy benefit, or the loss for which the benefit is
payable MUST disclose - {✔✔ANSWER✔✔}-The exceptions, reductions, and
limitations affecting the basic provisions of the policy
, The time limit for filing claim disputes is addressed in which provision of an
accident and health policy? - {✔✔ANSWER✔✔}-Legal actions
Paul is an employee who caught a disease unique to the trade in which he was
exposed to. Paul has a(n)
genetic predisposition
worksite malady
contagious disease
occupational disease - {✔✔ANSWER✔✔}-Occupational disease
Major Medical expense plans provide coverage for each of the following EXCEPT -
{✔✔ANSWER✔✔}-Work-related injuries
The act of using misrepresentation to induce an insured person to terminate an
existing policy and purchase a new policy is referred to as -
{✔✔ANSWER✔✔}-Twisting
How soon can the benefit payments begin with a deferred annuity? -
{✔✔ANSWER✔✔}-A minimum of 12 months after date of purchase
Coordination of Benefits regulation applies to all of the following plans EXCEPT -
{✔✔ANSWER✔✔}-Preferred Provider Organization plan
Licensing Final Exam With Complete
Questions and Correct Answers (verified
answers) Graded A+
Adjustable Life (Adjustable Life allows the policyowner to change two policy
features: premium 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 provision) - {✔✔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 determining 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
If an insured's age on a life insurance policy has been misstated, what is the
insurer's liability if the insured dies? - {✔✔ANSWER✔✔}-A prorated death
benefit based on the amount of insurance the insured's premiums would have
been if purchased at the correct age
Any advertisement that mentions a dollar amount, period of time for which any
benefit is payable, cost of policy, policy benefit, or the loss for which the benefit is
payable MUST disclose - {✔✔ANSWER✔✔}-The exceptions, reductions, and
limitations affecting the basic provisions of the policy
, The time limit for filing claim disputes is addressed in which provision of an
accident and health policy? - {✔✔ANSWER✔✔}-Legal actions
Paul is an employee who caught a disease unique to the trade in which he was
exposed to. Paul has a(n)
genetic predisposition
worksite malady
contagious disease
occupational disease - {✔✔ANSWER✔✔}-Occupational disease
Major Medical expense plans provide coverage for each of the following EXCEPT -
{✔✔ANSWER✔✔}-Work-related injuries
The act of using misrepresentation to induce an insured person to terminate an
existing policy and purchase a new policy is referred to as -
{✔✔ANSWER✔✔}-Twisting
How soon can the benefit payments begin with a deferred annuity? -
{✔✔ANSWER✔✔}-A minimum of 12 months after date of purchase
Coordination of Benefits regulation applies to all of the following plans EXCEPT -
{✔✔ANSWER✔✔}-Preferred Provider Organization plan
