Maryland life and health practice exam

1. How many hours of continuing education must a Maryland producer complete each renewal period?

1. 24 hours, including 3 hours of ethics
2. 20 hours, including 2 hours of ethics
3. 30 hours, including 3 hours of ethics
4. 24 hours, with no ethics requirement

2. Maryland producer licenses renew on a two-year cycle based on the licensee's:

1. Social Security number
2. Date of first license
3. Birth month
4. Calendar year

3. Maryland producers should complete their CE at least how long before the license expiration date?

1. 30 days
2. 90 days
3. 15 days
4. 60 days

4. Maryland life and health producers who sell long-term care insurance must include how many hours of designated LTC courses in their CE hours each renewal period?

1. 1 hour
2. 2 hours
3. 8 hours
4. 4 hours

5. Before selling annuities in Maryland, a producer must complete an initial annuity suitability course of:

1. 16 hours
2. 8 hours
3. 2 hours
4. 4 hours

6. Which statement about carrying over excess CE hours in Maryland is correct?

1. Carryover is not allowed, except that licensees with certain national designations may carry over up to 9 hours
2. Up to 12 hours may always be carried over
3. Ethics hours carry over, but general hours do not
4. All excess hours carry over automatically

7. A Maryland licensee must notify the Maryland Insurance Administration of a change of address within:

1. 30 days
2. 60 days
3. 10 days
4. 90 days

8. A Maryland producer must report an administrative action taken against them within:

1. 60 days after the final disposition
2. 30 days after the final disposition
3. At the next license renewal
4. 10 days after the action begins

9. For each violation of the Insurance Article, the Maryland Commissioner may impose a penalty of:

1. Not more than $25,000
2. Not less than $500 and not more than $10,000
3. Not more than $1,000
4. Not less than $100 and not more than $5,000

10. A Maryland producer license that has been expired for more than how long requires the applicant to meet new-applicant requirements?

1. 6 months
2. 90 days
3. 1 year
4. 2 years

11. After passing both Maryland licensing exams, a candidate must apply for a license within:

1. 6 months
2. 2 years
3. 90 days
4. 1 year

1. Maryland requires a life insurance grace period of:

1. 30 days, or 1 month of not less than 30 days, at the insurer's option
2. 60 days
3. 10 days
4. 31 days

2. In Maryland, a life policy becomes incontestable after it has been in force during the insured's lifetime for:

1. 1 year after its date of issue
2. 5 years after its date of issue
3. 2 years after its date of issue
4. 3 years after its date of issue

3. In Maryland, a lapsed ordinary life policy may be reinstated within:

1. 1 year after default
2. 2 years after default
3. 5 years after default
4. 3 years after the due date of the first premium in default

4. When reinstating a Maryland life policy, the interest charged on overdue premiums may not exceed an effective rate of:

1. 12% per year
2. 6% per year, compounded annually
3. 8% per year
4. 10% per year

5. If an insured's age is misstated and the correct age falls outside the policy's insurable age limits, a Maryland insurer may void the policy only within:

1. 3 years after the date of issue
2. The free look period
3. 2 years after the date of issue
4. 1 year after the date of issue

6. A Maryland life policy may exclude death by suicide that occurs within how long after the date of issue?

1. 6 months
2. 1 year
3. 2 years
4. 3 years

7. On a participating ordinary life policy in Maryland, dividends must be credited each year beginning no later than the end of the:

1. 1st policy year
2. 5th policy year
3. 10th policy year
4. 3rd policy year

8. For a Maryland life policy issued on or after July 1, 1983, a fixed policy loan interest rate may not exceed an effective rate of:

1. 12% per year
2. 6% per year
3. 10% per year
4. 8% per year

1. Under Maryland's replacement regulation, the owner of a replacement life policy or annuity may return it for a refund within:

1. 10 days after delivery
2. 30 days after delivery
3. 45 days after delivery
4. 20 days after delivery

2. In Maryland, a replacing insurer must notify the existing insurer within:

1. 5 business days after receiving a completed application
2. 24 hours
3. 30 days
4. 10 business days

3. Maryland replacing insurers must keep replacement notification records for at least:

1. 3 years
2. 1 year
3. 5 years, or until the next regular market conduct examination
4. 7 years

1. The Maryland Life and Health Insurance Guaranty Corporation covers life insurance cash surrender values up to:

1. $300,000
2. $100,000
3. $50,000
4. $250,000

2. The Maryland guaranty corporation covers the present value of annuity benefits up to:

1. $100,000
2. $500,000
3. $300,000
4. $250,000