Maryland Insurance Administration surepassexam free Life-producer Questions Attempt by Emmy q63 vce pdf

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Exam Name:	Maryland Life Producer Exam (Series 20-27)
Exam Code:	Life-Producer Dumps
Vendor:	Insurance Licensing	Certification:	Maryland Insurance
Questions:	90 Q&A's	Shared By:	emmy

Question 28

Which one of the following statements about the automatic premium loan (APL) provision in a life insurance policy is true?

Options:

It is a required provision that provides for the purchase of additional insurance at guaranteed rates

It provides for a series of bank loans to finance the purchase of split-dollar life insurance

It waives policy premiums if the policyowner becomes totally and permanently disabled

It provides for a policy loan to pay any premium not paid by the end of the grace period

Discussion

Question 29

A life insurance producer is normally responsible for all of the following EXCEPT:

Options:

Delivering newly issued policies to applicants

Notifying the company if a new policy will replace an existing policy

Approving policies for issue on behalf of the insurer

Collecting the initial premium from the applicant

Discussion

Question 30

An insurance producer's license may be suspended or revoked by:

Options:

The appointing insurer

The continuing education course provider

The Maryland Insurance Administration

The Attorney General

Discussion

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Question 31

The annual addition to an employee's account in a qualified retirement plan:

Options:

Can be any amount as determined by the employer from year to year

Must be the same dollar amount for every full-time employee

Cannot exceed maximum limits set by the Internal Revenue Service

Usually reflects the employee's individual work performance each year