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Maryland Life and Health Insurance Licensing Exam Questions and answers with 100% Complete solutions | verified &updated 2024 | Graded A+ $13.49   Add to cart
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Maryland Life and Health Insurance Licensing Exam Questions and answers with 100% Complete solutions | verified &updated 2024 | Graded A+
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Maryland Life and Health Insurance Licensing Exam Questions and answers with 100% Complete solutions | verified &updated 2024 | Graded A+

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  • October 29, 2024
  • 35
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • maryland life and health insurance licensing exam

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  • Maryland State
  • Maryland State

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Maryland Life and Health Insurance
Licensing Exam Questions and answers with
100% Complete solutions | verified &updated
2024 | Graded A+

Taxable income - ✔✔Justin is receiving disability income benefits from a group

policy paid for by his employer. How are these benefits treated for tax purposes?




Excludes payments for a short-term illness or injury - ✔✔The waiting period for

a disability insurance policy




Adjustable Life (Adjustable Life allows the policyowner to change two policy

features: premium and face amount) - ✔✔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) - ✔✔Which of the following is NOT a required provision

in an accident and health insurance policy?




Annuity - ✔✔Fixed period settlement options are considered to be a form of a(n)




Automobile - ✔✔Which of these factors is NOT taken into account

when determining an applicant's life insurance needs?




Fare-paying passenger - ✔✔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 - ✔✔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 - ✔✔The identity of the ____ must be made clear in every health

insurance advertisement




Obtain the beneficiary's signature - ✔✔When a producer is replacing an existing

ordinary life insurance policy, the producer must take all of the following actions

EXCEPT




Skilled nursing, intermediate, and custodial care - ✔✔Generally speaking,

which three levels of care are Long-Term Care policies provided with?




All premiums paid, plus interest, minus any withdrawals and surrender charges -

✔✔What is the nonforfeiture value of an annuity before annuitization?

, Avoid overpayment of claims (This is achieved by identifying primary and

secondary insurers) - ✔✔The purpose of the Coordination of Benefits provision

in group accident and health plans is to




A person who has a contract with an insurance company to represent it ("Insurance

producer" or "producer" is a person required to be licensed pursuant

to the laws of this state to sell, solicit, or negotiate insurance) - ✔✔An

insurance producer is BEST defined as




Insurance producer - ✔✔An ____ ____ sells, solicits, or negotiates insurance

contracts for compensation




Nonforfeiture options (A nonforfeiture provision in a whole life policy that

uses cash value to purchase term insurance equal to the existing amount of life

insurance is called the extended term option) - ✔✔A whole life policy

option where extended term insurance is selected is called a(n)

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