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Insurance Licensing Life-and-Accident-and-Health-or-Sickness-Producer-Combo Exam Syllabus Topics:
| Section | Objectives |
| Accident and Health Insurance | - Disability income and medical expense coverage
- Health insurance plans and structures
|
| Policy Provisions and Options | - Standard policy provisions
- Beneficiaries and policy ownership
|
| Insurance Fundamentals | - Basic insurance principles
- Insurable interest and risk management concepts
|
| Annuities | - Annuity types and features
- Accumulation and payout options
|
| Ethics and Professional Conduct | - Consumer protection standards
- Ethical responsibilities of insurance producers
|
| Life Insurance | - Types of life insurance policies
- 1. Universal life insurance
- 2. Term life insurance
- 3. Whole life insurance
- Life policy provisions and riders
|
| Federal Regulations and Taxation | - Federal insurance-related regulations
- Tax treatment of insurance products
|
| State Insurance Regulations | - Producer licensing requirements
- Unfair trade practices and compliance
|
Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:
1. When a producer engages in unfair practices, all of the following are true EXCEPT:
A) The Maryland Insurance Administration's decision is final
B) The Maryland Insurance Administration investigates the problem and holds a hearing
C) The Maryland Insurance Administration can suspend the producer's license
2. An insurance adviser's written contract with the client must include all of the following EXCEPT:
A) Expiration date of the consultant's license
B) Disclosure as to whether commissions may be received
C) Duration of the contract
D) Amount of the fee
3. Which advantage is available to employees participating in a qualified profit-sharing plan?
A) The contributions are excluded from current taxable income to the employee
B) Investment earnings on the plan contributions are received by the employee income tax free
C) Employees can avoid tax penalties on premature distributions
D) The employees have the option of a defined benefit or defined contribution plan
4. All of the following are common underwriting factors used by life insurance companies EXCEPT:
A) Family health history
B) Amount of insurance applied for
C) Ethnic heritage
D) Driving record
5. An insurance producer or advisor in the State of Maryland can be disciplined by the MarylandInsurance Administration for all of the following EXCEPT:
A) Filing a complaint on behalf of the consumer with the Maryland Insurance Administration
B) Making a misleading statement about the financial condition of an insurer
C) Using inappropriate description of a policy to hide the true nature of the policy
D) Making false or misleading statements about dividends previously paid on similar policies
Solutions:
Question # 1 Answer: A | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: A |