Insurance Licensing Life-and-Accident-and-Health-or-Sickness-Producer-Combo Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Insurance Fundamentals | - Basic insurance principles - Insurable interest and risk management concepts |
| State Insurance Regulations | - Unfair trade practices and compliance - Producer licensing requirements |
| Annuities | - Accumulation and payout options - Annuity types and features |
| Policy Provisions and Options | - Beneficiaries and policy ownership - Standard policy provisions |
| Life Insurance | - Life policy provisions and riders - Types of life insurance policies
|
| Accident and Health Insurance | - Health insurance plans and structures - Disability income and medical expense coverage |
| Federal Regulations and Taxation | - Federal insurance-related regulations - Tax treatment of insurance products |
| Ethics and Professional Conduct | - Consumer protection standards - Ethical responsibilities of insurance producers |
Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:
Question #1
Fixed annuities credit interest at a rate no lower than the:
A. Contract guaranteed rate
B. Expected renewal interest rate
C. Front-end load rate
D. Current prime rate
Question #2
If an individual's occupation is considered to be illegal:
A. It must be stated as such on an accident and health insurance application
B. It may result in a denial of a disability income claim
C. It results in a substandard rating on an accident and health insurance policy
D. It may require a waiver on a disability income insurance policy
Question #3
Group health insurance contracts providing coverage for employees in more than one state are usually controlled by the laws of the state where:
A. The producer resides
B. The master contract is issued
C. The application is signed
D. The majority of employees reside
Question #4
In general practice, which one of the following is true of the powers of the Maryland Insurance Administration with respect to access to a producer's business records?
A. Records must be produced upon the request of the Maryland Insurance Administration
B. Records can only be accessed by an order of a state court
C. Authorization must come from the National Association of Insurance Commissioners (NAIC)
D. The Maryland Insurance Administration has no right to access a producer's business records because of privacy considerations
Question #5
Subject to certain limitations, the purpose of the Maryland Life and Health Insurance Guaranty Corporation is to protect various entities such as residents who are policyowners, beneficiaries, and annuitants. The intent is to protect the listed individuals against failure in the performance of contractual obligations due to:
A. Riots, insurrections, war, or acts of God
B. Impending insurance legislation
C. An insurance producer's fraudulent actions
D. The impairment of the insurer that issued the policy or contract
Solutions:
| Question #1 Correct Answer: A | Question #2 Correct Answer: B | Question #3 Correct Answer: B | Question #4 Correct Answer: A | Question #5 Correct Answer: D |
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