Pass the Insurance Licensing Maryland Insurance Life-Producer Questions and answers with CertsForce

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Viewing questions 11-20 out of questions
Questions # 11:

One factor in premium determination is the expenses of the:

Options:

A.

Producer


B.

Insurer


C.

Policy beneficiary


D.

Policy owner


Expert Solution
Questions # 12:

In general practice, can the Maryland Insurance Administration inspect the business records of an insurance company or agency?

Options:

A.

No, because of privacy considerations


B.

Yes, because of the powers defined by state laws


C.

No, because only an officer of the court can inspect these records


D.

Yes, because all company and agency records are public domain


Expert Solution
Questions # 13:

Publishing a derogatory article about the financial condition of an insurer that is false and calculated to injure the insurer is an example of:

Options:

A.

Defamation


B.

Intimidation


C.

Extortion


D.

Coercion


Expert Solution
Questions # 14:

The Medical Information Bureau may release information in the proposed insured's file to:

Options:

A.

Employment agencies


B.

Member insurance companies


C.

The insured's employer


D.

Any physician


Expert Solution
Questions # 15:

The income benefits distributed during the liquidation phase of an annuity contract are normally payable to:

Options:

A.

The owner


B.

The beneficiary


C.

The nominator


D.

The annuitant


Expert Solution
Questions # 16:

Which life annuity contract feature provides that benefit payments will continue for a minimum number of years regardless of when the annuitant dies?

Options:

A.

Cost recovery


B.

Period certain


C.

Cash refund


D.

Installment refund


Expert Solution
Questions # 17:

To determine whether unfair trade practices have been violated, who has the power to examine an insurer's books and records?

Options:

A.

The Maryland Insurance Administration


B.

The National Association of Insurance Commissioners


C.

The Federal Deposit Insurance Corporation


D.

The Maryland Property & Casualty Insurance Guaranty Corporation (PCIGC)


Expert Solution
Questions # 18:

A policy of life insurance may NOT be delivered unless the policy has a:

Options:

A.

Legible and brief description of the policy on the first page


B.

Notary seal


C.

Premium coupon book


D.

Financial statement of the life insurance company


Expert Solution
Questions # 19:

In the event of a death claim under a life insurance policy, what happens to the amount of any existing policy loan?

Options:

A.

It is deducted from the face amount of the policy together with any interest due.


B.

The beneficiary has an obligation to pay the amount to the insurance company.


C.

It represents a primary claim against the estate of the insured.


D.

It is canceled, and the beneficiary receives the face amount of the policy.


Expert Solution
Questions # 20:

The free-look period provided in a life insurance policy is usually:

Options:

A.

10 days


B.

31 days


C.

45 days


D.

60 days


Expert Solution
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