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Massachusetts laws and rules
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Massachusetts laws and rules Massachusetts laws and rules Massachusetts laws and rules
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Massachusetts laws and rulesA life insurance policy can be backdated before the application date for up to - ANS Six months
Which statement is true regarding Massachusetts continuing education requirements for license
producers? - ANS A producer must meet specified course requirements within a three-year period
Which of the following individuals is eligible to receive a temporary producer license? - ANS An
appointed employee who is replacing a deceased producer
Which of the following is NOT the responsibility of an insurer? - ANS Assuming liability for a producer's
unauthorized acts
Notice of information practices must be given to a policyholder at LEAST every _____years(s) - ANS
Three
Group life plan sold in Massachusetts typically contain a conversion option. If the insured elects the
option, the new policy - ANS Does not require evidence of insurability
A producers license in Massachusetts must be renewed every; - ANS Three years
A life insurance policy holder has been diagnosed with a terminal illness. Which of the following is off
doing payable to a policy owner who is life expectancy is substantially reduced due to illness? - ANS
Accelerated (living) benefit. It's often payable to a life insurance policy holder when a medical condition
drastically limit is the insured's life expectancy
After the first three years of licensure, a producer must complete ....credit hours of a continuing
education for each licensing. - ANS 45
, Which of the following is considered an activity of a daily living when determining an accelerated life
insurance benefit? - ANS Eating. To qualify for an accelerated insurance benefit, An individual must be
unable to perform at least two activities of daily living.
Which of these is not a punishment for committing an unfair and deceptive insurance practice? - ANS
Community service
A foreign insurer wishing to conduct business in Massachusetts must obtain a - ANS Certificate of
authority from the Superintendent of insurance
Which of the following does not involve a life settlement transaction? - ANS Converting term life
coverage to whole life insurance.
An insurer may contest the validity of a life insurance policy during the policies first two years for all of
these reasons except - ANS Misstatement of age
A life insurance policy can be reinstated upon meeting company requirements within a maximum of -
ANS Three years
When the Massachusetts superintendent of insurance examines it produces insurance records, the
purpose will primarily be to determine; - ANS Compliance with state insurance laws and regulations
How many days notice must a producer be given prior to a scheduled hearing? - ANS 21 days
Who is required to notify the superintendent of a licensees change of address,? - ANS Licensee
A Massachusetts producer has violated an unfair trade practice law. This producer must be fine up to
you... Per violation - ANS $1000
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