Maryland Life and Health General Exam Simulator Questions Fully Answered.
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Course
Maryland life prelicensing
Institution
Maryland Life Prelicensing
If a disability income policy contains a cost-of-living adjustment rider, benefits must typically be increased - Answer at least once per year from when benefits begin
Which of these statements regarding the extended term insurance nonforfeiture option in a life policy is accurate? - Answer ...
Maryland Life and Health General Exam
Simulator Questions Fully Answered.
If a disability income policy contains a cost-of-living adjustment rider, benefits must typically be
increased - Answer at least once per year from when benefits begin
Which of these statements regarding the extended term insurance nonforfeiture option in a life policy is
accurate? - Answer the premium to purchase the coverage comes from the policy's cash value
Which of the following is not a reason for a business to buy key person life insurance? - Answer an
increased pension liability if the key employee dies
Qualified long-term care premiums are treated for tax purposes as - Answer ...
Individuals covered with employer-paid group health plans will normally receive tax-free benefits under
all of these plans EXCEPT - Answer disability income
A life insurance policy's contingent beneficiary is the - Answer person who receives the death benefits
if the primary beneficiary dies before the insured
Ken is age 65 and has 2 years until he receives Social Security retirement benefits. At his current age,
which is true about Medicare Part A Hospital Insurance coverage? - Answer It is available through
application to Social Security
When does the insured stop making payments under a thirty-payment whole life policy? - Answer At
the time of death or 30 years after the policy's inception, whichever comes first
The powers directly given to a producer in an agency contract are called - Answer express
,Which of the following relationships demonstrates insurable interest in the absence of economic
interest? - Answer marriage partners
An accident and health insurance policy's premium requirements are set forth in which of the following
provisions? - Answer Consideration clause
Sarah, age 88, is a life annuitant who has lived beyond her life expectancy. The funds for additional
benefit payments will be derived primarily from funds that were - Answer not distributed to life
annuitants who died before life expectancy
Under HIPAA requirements, eligibility for the pre-existing conditions exclusion waiver under new
coverage is lost if - Answer there is a break in coverage of more than 63 days
The health insurance premiums paid for by each partner in a partnership is considered to be - Answer
100% tax deductible
An annuity which starts paying monthly benefits within a month after issuance is called a(n) - Answer
immediate annuity
Which of the following best describes the tax treatment of medical expense policies for the self-
employed? - Answer 100% of medical expense plan premiums are tax deductible
What is the insurer responsible for when a producer is acting within the scope of authority granted in
the agency contract? - Answer responsible for acts by the producer that are authority only
What does a fixed life annuity offer protect against? - Answer savings depletion due to longevity
Which of the following types of insurers limits the exposures it writes to those of its owners? - Answer
captive insurer
An agent whose actions exceed the authority granted by contract is - Answer not backed by the insurer
, Use of XYZ Insurance Company brochures, business cards, and rating guides is an example of - Answer
apparent authority
What kind of arrangement gives the policyowner the right to change the beneficiary? - Answer
Revocable designation
Which of these procedures is NOT designed for ambulatory care centers? - Answer inpatient surgery
What is the guaranteed cash value of a whole life insurance policy when the insured turns 65 years old? -
Answer less than the policy's face amount
Alan is an enrollee of a health maintenance organization (HMO) which uses a gatekeeper system. If there
ever comes a time when he needs emergency health services, what should he do? - Answer proceed to
the nearest emergency room
Which statement is INCORRECT about the interest-only settlement option in a life insurance policy? -
Answer interest on proceeds must be paid by the beneficiary
What happens to a life insurance policy when the policy loan balance exceeds the cash value? - Answer
policy will no longer be in force
When using the needs approach for life insurance planning, a lump sum may be created to provide for all
of the following EXCEPT - Answer employee benefits
Which of the following would permit an insurer to delay a covered disability policy claim? - Answer
elimination period
Emily is disabled. In order to become eligible for Social Security disability income benefits, she must be -
Answer Fully insured, according to Social Security
An agent gives a conditional receipt to a client for an insurance policy after collecting the initial premium.
When will the policy become effective? - Answer When the conditions of the receipt are met.(A
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