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Insurance Licensing Life-and-Accident-and-Health-or-Sickness-Producer-Combo Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Accident and Health / Sickness Insurance | 20% | - Disability income, medical expense, and long-term care - Mandatory benefits and state-specific health rules - HMO, PPO, group vs individual coverage - Health insurance basics and policy provisions |
| Annuities and Retirement Products | 10% | - Tax treatment and suitability standards - Fixed, indexed, and variable annuities |
| General Insurance Concepts | 15% | - Underwriting, premium calculation, and taxation - Insurable interest and risk management - Contract law and principles |
| Life Insurance Basics and Policies | 25% | - Beneficiaries, claims, and settlement options - Types of life insurance: term, whole, universal, variable - Policy provisions, riders, and options |
| Insurance Regulation | 30% | - State insurance laws and Maryland regulations - Ethics, unfair trade practices, and consumer protection - Policy delivery, replacement rules, and disclosure - Licensing requirements and procedures |
Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:
Question 1
All of the following are characteristics of a preferred risk applicant for disability income insurance EXCEPT:
A. Non-hazardous occupation
B. Non-smoker
C. High income
D. Physically active
Question 2
A policy of life insurance may not be delivered unless the policy has a:
A. Notary seal
B. Legible and brief description of the policy on the first page
C. Premium coupon book
D. Financial statement of the life insurance company
Question 3
Under Maryland law, the agreement between an insurance producer and insurer under which the insurance producer, for compensation, may sell, solicit, or negotiate policies issued by the insurer is defined as:
A. A binding agreement
B. An appointment
C. A license
D. A certificate of authority
Question 4
Life insurance death proceeds are generally:
A. Subject to the cost recovery rule
B. Exempt from federal income tax
C. Deemed to be a transfer for value
D. Subject to the interest-first rule
Question 5
To have " an insurable interest " in the life of another person, an individual must have a reasonable expectation of:
A. Continuing on good terms with the other person
B. Benefiting from the other person's continued life
C. Seeing the other person survive to normal life expectancy
D. Gaining economically by the death of the other person
Solutions:
| Question 1 Answer: C | Question 2 Answer: B | Question 3 Answer: B | Question 4 Answer: B | Question 5 Answer: B |
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