FINAL EXAM - MARYLAND LIFE AND HEALTH

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FINAL EXAM - MARYLAND LIFE AND HEALTH

Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -100 Questions and Answers

-Format: Multiple-choice / Flashcard

Question 1: Which of these pays an income to two or more annuitants until the death of the last annuitant?

Answer:

joint and survivor annuity Question 2: Which of the following health insurance plans charges a premium that cannot be increased?

Answer:

Noncancelable Question 3: Which benefit can be found in an equity indexed annuity, but not in a fixed annuity?

Answer:

protection against long-term inflation Question 4: Which type of life insurance policy is best suited for paying off the outstanding balance of a 30-year mortgage in the event of the insured's death?

Answer:

30-year decreasing term

Question 5: How long can an insurer legally defer paying the cash value of a surrendered life insurance policy?

Answer:

• months

Question 6: Contributions made by an employee to a qualified retirement plan are required to be

______?

Answer:

subject to a vesting schedule Question 7: All of these are duties that a producer may be required to perform when delivering an insurance policy EXCEPT ______?

Answer:

leave conditional receipt with client Question 8: Which type of policy can group term life insurance normally be converted to?

Answer:

An individual permanent life insurance policy Question 9: A source of supplemental income for a life insurance policyowner can be derived from the _______?

Answer:

Cash Value Question 10: If an individual would like to enroll in Medicare or seek public information about Medicare, which federal agency handles this?

Answer:

Social Security Administration Question 11: An advantage of owning a flexible premium life insurance policy would be _____?

Answer:

The policyowner can make policy changes without difficulty

Question 12: Which of these is NOT an Unfair Claims Settlement Practice?

Answer:

Refusing to pay persons bringing false or fraudulent claims

Question 13: Exchanging a new policy for one already in force is called ______?

Answer:

replacement

Question 14: Non-occupational disability coverage is designed for ____?

Answer:

employees who suffer non-work related disabilities, since work-related disabilities are covered by workers' compensation Question 15: A MET third-party administrator may NOT perform which of the following functions?

Answer:

Marketing the plan Question 16: Which of the following statements is NOT true concerning the relationship between group health insurance plans and Medicare? (assuming the business has more than 20 employees)

Answer:

Group health coverage is NOT available for workers over the age of 65

Question 17: Which of these is NOT a true statement of the war exclusion?

Answer:

Civil Insurrections apply Question 18: An accident and health plan that typically covers ONLY the services of approved providers is called a(n) _______?

Answer:

HMO (Health Maintenance Organization) Plan

Question 19: In an individual retirement account (IRA), rollover contributions are ____?

Answer:

unlimited by dollar amount Question 20: A disability income insurance policy was recently issued with a rating. What does this mean?

Answer:

policyowner will be charge an additional premium Question 21: An accident and health insurance policy's premium requirements are set forth in which of the following provisions?

Answer:

Consideration Clause (sets forth an accident and health insurance policy's premium requirements) Question 22: Which life insurance settlement option pays a stated monthly payment until both principal and interest are exhausted?

Answer:

fixed amount installment option Question 23: Which of the following does TRI-CARE provide accident and health coverage to?

Answer:

Military Families Question 24: What is the federal income tax liability of a death benefit paid from a health insurance policy to a named beneficiary?

Answer:

benefits are not taxable

Question 25: Bathing, eating and transferring are all types of ____?

Answer:

Activities of daily living Question 26: When an individual is planning to protect his family with life insurance, one method of doing so is called needs analysis. What exactly does needs analysis involve?

Answer:

Identifies the needs of an individual and the individual's dependents