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Insurance Licensing Life-and-Accident-and-Health-or-Sickness-Producer-Combo Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Federal Regulations and Taxation | - Federal insurance-related regulations - Tax treatment of insurance products |
| Insurance Fundamentals | - Insurable interest and risk management concepts - Basic insurance principles |
| Life Insurance | - Types of life insurance policies
|
| Policy Provisions and Options | - Beneficiaries and policy ownership - Standard policy provisions |
| Accident and Health Insurance | - Health insurance plans and structures - Disability income and medical expense coverage |
| Annuities | - Annuity types and features - Accumulation and payout options |
| State Insurance Regulations | - Unfair trade practices and compliance - Producer licensing requirements |
| Ethics and Professional Conduct | - Ethical responsibilities of insurance producers - Consumer protection standards |
Insurance Licensing Life and Accident and Health or Sickness Producer - Combo Series 20-30 Sample Questions:
1. Under which of the following circumstances may a class designation of beneficiary in life insurance be used?
A) To set up a trust fund for the insured's children
B) To name the insured's children as beneficiaries without naming them individually
C) To name a specific beneficiary to receive the proceeds on behalf of a group
D) To donate insurance proceeds to a specific organization or charity
2. Which of the following is NOT a mandated benefit in Maryland?
A) Treatment of mental illness
B) Treatment of substance abuse
C) Hearing aids for children
D) Weight reduction programs
3. Which of the following is commonly used to structure the payment of liability insurance settlements, lottery winnings, and other large sums?
A) An immediate annuity
B) A modified endowment contract
C) An individual retirement account
D) A 403(b) tax-sheltered annuity
4. In order to qualify for a company convention, an insurance producer agrees to pay the first quarterly premium for the applicant for new insurance. This is called a:
A) Rebate
B) Cost of doing business
C) Loan
D) Gift
5. Prescription drug plans sometimes control expenses by encouraging the use of:
A) Generic drugs
B) Federally approved drugs
C) Legend drugs
D) Brand-name drugs
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: A | Question # 5 Answer: A |
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