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Insurance Licensing Updated Life-Producer Exam Questions and Answers by ozzy

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Insurance Licensing Life-Producer Exam Overview :

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: ozzy
Question 24

Giving policyholders some part of the agent’s commission as an inducement to purchase insurance is an unfair trade practice known as:

Options:

A.

Twisting

B.

Rebating

C.

Replacement

D.

Retention

Discussion
Question 25

Based on the law of large numbers, which one of the following is true if the number of similar insured units increases?

Options:

A.

Predictability of losses is impaired

B.

Losses of specific individuals can be predicted

C.

Predictability of losses improves

D.

The number of losses decreases

Discussion
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Question 26

(What is the effect on a life insurance policy if the insured fails to repay the full value of loans taken against the policy?)

Options:

A.

The policy becomes void.

B.

The premium is increased.

C.

Dividends are suspended.

D.

The death benefit is reduced.

Discussion
Question 27

An individual purchased a flexible premium deferred annuity. When must the interest income be reported for federal income tax purposes?

Options:

A.

At least annually throughout the period of the contract

B.

After first recovering the principal invested in the contract

C.

Upon receiving distributions or income benefits from the contract

D.

Never at any time because an annuity has tax-exempt status

Discussion
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