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Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:

1. The reinstatement provision in individual accident and health insurance:

A) Allows the insured to change statements made in the application
B) Requires that all reinstatement applications must be approved by the Maryland Insurance Administration
C) Allows the insured to reinstate the policy after coverage lapses for nonpayment of premium
D) Reinstates the amount of insurance after payment of a loss


2. An individual life insurance policy may include coverage for all of the following EXCEPT:

A) Disability
B) Long-term care
C) Workers ' compensation
D) Burial


3. (Which annuity pays a monthly benefit that begins approximately one month after issuance?)

A) A survivorship annuity
B) An immediate annuity
C) A retirement income policy
D) A retirement annuity


4. Which one of the following is a true statement regarding the Maryland Insurance Commissioner?

A) The Commissioner shall counsel and advise the Governor on all matters assigned to the Maryland Insurance Administration
B) The Commissioner is elected by a majority vote of the Maryland Senate
C) The Commissioner shall serve for a term of 6 years
D) The Commissioner is in the executive service of the State Personnel Management System and is entitled to payment from the State Insurance Guaranty Fund


5. Based on the law of large numbers, which one of the following is true if the number of similar insured units increases?

A) The number of losses decreases
B) Losses of specific individuals can be predicted
C) Predictability of losses improves
D) Predictability of losses is impaired


Solutions:

Question # 1
Answer: C
Question # 2
Answer: C
Question # 3
Answer: B
Question # 4
Answer: A
Question # 5
Answer: C

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