Insurance Licensing
Maryland Life Producer Exam
Q1:
When delivering a life insurance policy, a producer's responsibilities may include all of the following EXCEPT:
○
A
Explaining a non-standard rating○
B
Reviewing policy riders○
C
Collecting the premium payment○
D
Cashing the insured's premium check
Insurance Licensing
Maryland Life Producer Exam
Q2:
Which of the following is generally assessed when a participant receives retirement savings from an IRA before reaching age 59?
○
A
Income tax only○
B
A penalty tax only○
C
Income tax and a penalty tax○
D
Capital gains tax
Insurance Licensing
Maryland Life Producer Exam
Q3:
When an individual replaces a life insurance policy, the form entitled "Important Notice Replacement of Life Insurance or Annuities" is REQUIRED to be signed by:
○
A
The applicant only○
B
Both the applicant and the insurance producer○
C
The insurance producer only○
D
An officer of the insurer
Insurance Licensing
Maryland Life Producer Exam
Q4:
One feature that distinguishes a continuous premium whole life policy from a limited payment whole life policy is:
○
A
The length of time premiums will be paid○
B
The settlement options available○
C
The mortality table from which premiums are calculated○
D
The form in which dividends are paid
Insurance Licensing
Maryland Life Producer Exam
Q5:
What might be considered an unfair claims settlement practice?
○
A
Offering compromise settlements when facts are in question○
B
Denying coverage for claims after a timely investigation○
C
Failing to promptly investigate and settle legitimate claims○
D
Compelling insureds to litigate claims where a real coverage dispute exists