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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Annuities and Retirement Products | 10% | - Tax treatment and suitability standards - Fixed, indexed, and variable annuities |
| Topic 2: General Insurance Concepts | 15% | - Insurable interest and risk management - Contract law and principles - Underwriting, premium calculation, and taxation |
| Topic 3: Life Insurance Basics and Policies | 25% | - Beneficiaries, claims, and settlement options - Policy provisions, riders, and options - Types of life insurance: term, whole, universal, variable |
| Topic 4: Accident and Health / Sickness Insurance | 20% | - HMO, PPO, group vs individual coverage - Health insurance basics and policy provisions - Disability income, medical expense, and long-term care - Mandatory benefits and state-specific health rules |
| Topic 5: Insurance Regulation | 30% | - Ethics, unfair trade practices, and consumer protection - Policy delivery, replacement rules, and disclosure - Licensing requirements and procedures - State insurance laws and Maryland regulations |
>> Certification Life-and-Accident-and-Health-or-Sickness-Producer-Combo Sample Questions <<
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NEW QUESTION # 52
An accident and health insurance producer is most likely to become liable for professional errors and omissions as the result of:
Answer: C
Explanation:
Errors and omissions liability arises from professional negligence (Insurance Article, § 10-126). Misleading a client about policy replacement (twisting, § 27-203) directly harms them, unlike accounting errors, overpayments, or tax issues, which are internal or personal.
References:Maryland Insurance Article, § 10-126, § 27-203; MIA producer liability rules.
NEW QUESTION # 53
An insurer may refuse to underwrite a particular insurance applicant for a reason based wholly on:
Answer: D
Explanation:
Maryland law allows insurers to consider medical conditions (A) as part of the underwriting process, provided it is done fairly and within legal boundaries.
Race (B), Gender (C), and Creed (D): Discrimination based on these factors is strictly prohibited under Maryland's anti-discrimination laws and the Unfair Trade Practices Act.
Insurers must comply with state and federal regulations, ensuring underwriting decisions are based on actuarially justified factors, such as health and lifestyle, rather than prohibited discriminatory criteria.
References: Maryland Insurance Article §27-501, Anti-Discrimination Guidelines, and COMAR 31.15.03.
NEW QUESTION # 54
In general practice, which one of the following is true of the powers of the Maryland Insurance Administration with respect to access to a producer's business records?
Answer: C
Explanation:
Regulatory authority of the Maryland Insurance Administration (MIA).
The MIA is granted statutory authority to examine, investigate, and audit producers to ensure compliance with insurance laws.
Evaluate each option.
A). Court order required
Incorrect. The MIA has direct administrative authority.
B). NAIC authorization required
Incorrect. The NAIC is advisory, not regulatory.
C). Records must be produced upon request
Correct. Licensed producers are required to comply with MIA record requests.
D). No right due to privacy
Incorrect. Licensing carries an obligation to regulatory oversight.
Good-faith and compliance relevance.
Failure to provide records may itself constitute a regulatory violation and undermine good-faith conduct.
Conclusion.
Producers must produce business records upon request of the Maryland Insurance Administration.
NEW QUESTION # 55
A licensee must report each of the following to the Maryland Insurance Administration EXCEPT:
Answer: D
Explanation:
Insurance licensees in Maryland are required to report certain changes to the Maryland Insurance Administration (MIA):
Change of name (A): Must be reported promptly to ensure accurate licensure records.
Change of residence address (B): Also required for communication and compliance purposes.
Felony convictions (D): Mandatory disclosure to maintain transparency and evaluate fitness for licensure.
Change in financial status (C): Not required unless it directly affects the licensee's ability to meet financial obligations tied to the license (e.g., bonding requirements).
References: Maryland Insurance Code §10-118, COMAR 31.03.01.
NEW QUESTION # 56
In accident and health insurance underwriting, when the risk imposed by an applicant is similar to the risks imposed by most other applicants, the applicant is:
Answer: A
Explanation:
Standard risk applicants (Insurance Article, § 15-201) receive the standard premium rate, as their risk aligns with the average pool. Declining coverage or adjusting payment terms applies to higher risks, not standard ones.
References:Maryland Insurance Article, § 15-201; MIA underwriting guidelines.
NEW QUESTION # 57
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