questions i struggle

The person who negotiates a viatical settlement contract is an

• Viatical settlement provider

• Viator settlement broker

• Certified public accountant

• Viator

While soliciting insurance or transacting insurance business for insurance companies, agents represent

• Cients

• The insurance agent

• Themselves

• Insurer

The standard group life provisions in Maryland include all of the following EXCEPT

• A. A copy of the master policy for each insured under the group plans

• A grace period of 31 days for payment of premiums

• A provision stating that the participants' statements on the application shall be deemed representations

• An incontestable period of 2 years

The Commissioner of Insurance can do all of the

following EXCEPT

• 1. Regulate insurance companies, producers, brokers and advisers

• 1. Examine the qualifications, financial status, and conduct of insurers

• 1. Change the insurance laws and statutes

• 1. Conduct hearings and investigations

It is illegal to discriminate against a person for all of the following reasons EXCEPT

• Race

• 1. National Origin

• Gender

• Poor risk

An individual may obtain a temporary insurance producer's license without passing the licensing examination if the individual

• 1. Is a deceased licensed producer's next of kin

• 1. Is taking insurance courses at a university

• 1. Has met the minimum experience requirement

• 1. Holds a license in another state

10. The Maryland Life & Health Guaranty Corporation affect life and health insurance companies

• 1. When producers refer to themselves as financial advisors

• 1. That become insolvent due to bankruptcy of the insurance company

• 1. That are members of the Medical Information Bureau

• 1. That are not authorized to transact insurance business in Maryland

How often does the commissioner examine the insurers books and records

• 1 year

• 3 years

• 5 years

• 7 years

The primary purpose of the maryland life insurance and annuity replacement regulatations is to

• Make sure the placement is appropriate and in the best interest of the policy owner

• Discourage insurers and producers

• Protect insurance companies from bankruptcy

• Prohibit replacing existing life insurance

Which of the following is NOT a responsibility of an insurance producer when conducting life insurance business?

• 1. Delivering the insurance contract to the policyowner in a timely manner

• 1. Determining the insurability and risk classification of the proposed insured

• 1. Submitting the application to the insurance company for review

• 1. Explaining the policy provisions, exclusions, and any ratings to the client