LIFE-PRODUCER PASS4SURE, LIFE-PRODUCER RELIABLE MOCK TEST

Life-Producer Pass4sure, Life-Producer Reliable Mock Test

Life-Producer Pass4sure, Life-Producer Reliable Mock Test

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Tags: Life-Producer Pass4sure, Life-Producer Reliable Mock Test, Latest Life-Producer Braindumps Questions, Valid Life-Producer Test Questions, Accurate Life-Producer Answers

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Maryland Insurance Administration Maryland Life Producer Exam (Series 20-27) Sample Questions (Q13-Q18):

NEW QUESTION # 13
Publishing a derogatory article about the financial condition of an insurer that is false and calculated to injure the insurer is an example of:

  • A. Coercion
  • B. Intimidation
  • C. Defamation
  • D. Extortion

Answer: C

Explanation:
Comprehensive and Detailed Step by Step Explanation:Defamationin the context of insurance involves publishing false or malicious statements intended to harm an insurer's reputation.
* Defamation (A):Includes false claims about an insurer's financial stability, products, or business practices, prohibited under Maryland law.
* Intimidation (B):Refers to coercing individuals into specific actions, unrelated to false publications.
* Extortion (C):Involves obtaining something of value through threats, unrelated to false statements.
* Coercion (D):Focuses on forcing compliance, not publishing falsehoods.
References:Maryland Insurance Administration's Unfair Trade Practices Act, COMAR 31.15.03.


NEW QUESTION # 14
A producer is prohibited from:

  • A. Allowing an applicant to sign a blank or incomplete application
  • B. Countersigning a policy sold in Maryland
  • C. Selling insurance to family members
  • D. Splitting commissions with a licensed nonresident producer who has jointly sold a policy

Answer: A

Explanation:
Comprehensive and Detailed Step by Step Explanation:Allowing an applicant to sign a blank or incomplete application (B) violates ethical and legal standards, as it undermines transparency and could lead to disputes about coverage or claims.
* Selling insurance to family members (A):Permitted as long as the transactions areconducted ethically and comply with Maryland laws.
* Countersigning policies (C):Required in certain situations to validate contracts in Maryland.
* Splitting commissions with nonresident producers (D):Permissible under Maryland law, provided both producers are licensed and involved in the transaction.
References:Maryland Insurance Administration Producer Conduct Rules, COMAR 31.03.13, and Ethical Standards for Insurance Producers.


NEW QUESTION # 15
The entire contract provision in a life insurance policy states that the policy includes:

  • A. Any attending physician's statement
  • B. The application attached to the policy
  • C. The Medical Information Bureau report
  • D. The producer's report to the insurer

Answer: B

Explanation:
Comprehensive and Detailed Step by Step Explanation:Theentire contract clauseensures transparency by limiting the policy's terms to the policy document and any attached application materials.
* The application attached to the policy (B):Correct. It becomes part of the legal agreement between the insurer and the policyholder.
* The Medical Information Bureau report (A):Used for underwriting but not part of the policy.
* Any attending physician's statement (C):May inform underwriting but is not included in the policy.
* The producer's report to the insurer (D):Internal to the insurer and irrelevant to the contract itself.
References:Maryland Insurance Code §16-203, Entire Contract Provision Standards, and COMAR 31.09.09.


NEW QUESTION # 16
An insurance agent's license may be revoked for all of the following reasons EXCEPT:

  • A. Violating any insurance statute or regulation
  • B. Being convicted of a felony
  • C. Having been found guilty of rebating
  • D. Having no insurer appointment in effect for ten days

Answer: D

Explanation:
Comprehensive and Detailed Step by Step Explanation:An agent's license can be revoked for serious infractions that violate Maryland's insurance laws:
* Rebating (B):Prohibited under Maryland's Unfair Trade Practices Act.
* Felony conviction (C):Grounds for revocation as it questions the agent's moral character.
* Violating insurance statutes or regulations (D):Includes infractions such as fraud, misrepresentation, or failure to meet ethical standards.
* Having no insurer appointment for ten days (A):Incorrect. A lack of appointment does not constitute a violation; it only affects the ability to conduct business temporarily.
References:Maryland Insurance Article §10-126, COMAR 31.03.02, and Licensing Enforcement Guidelines.


NEW QUESTION # 17
The free-look period provided in a life insurance policy is usually:

  • A. 45 days
  • B. 31 days
  • C. 10 days
  • D. 60 days

Answer: C

Explanation:
Comprehensive and Detailed Step by Step Explanation:Thefree-look periodis a consumer protection feature allowing policyholders to cancel a policy within a specified period for a full refund.
* 10 days (A):Maryland requires a minimum free-look period of 10 days for most individual life insurance policies. This provides enough time for policy review.
* 31 days (B), 45 days (C), and 60 days (D):These periods exceed Maryland's legal minimum and are typically not required unless specified by the insurer.
References:Maryland Free-Look Provisions, COMAR 31.09.09, and Maryland Consumer Protection Insurance Guidelines.


NEW QUESTION # 18
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