- Exam Code: Life-and-Accident-and-Health-or-Sickness-Producer-Combo
- Exam Name: Life and Accident and Health or Sickness Producer - Combo Series 20-30
- Updated: Aug 24, 2026
- Q & A: 265 Questions and Answers
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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: Insurance Regulation | 30% | - State insurance laws and Maryland regulations - Ethics, unfair trade practices, and consumer protection - Policy delivery, replacement rules, and disclosure - Licensing requirements and procedures |
| Topic 3: General Insurance Concepts | 15% | - Underwriting, premium calculation, and taxation - Insurable interest and risk management - Contract law and principles |
| Topic 4: Life Insurance Basics and Policies | 25% | - Policy provisions, riders, and options - Types of life insurance: term, whole, universal, variable - Beneficiaries, claims, and settlement options |
| Topic 5: Accident and Health / Sickness Insurance | 20% | - Health insurance basics and policy provisions - Disability income, medical expense, and long-term care - HMO, PPO, group vs individual coverage - Mandatory benefits and state-specific health rules |
1. A transaction in which a new life insurance policy is purchased, and an existing life insurance policy is surrendered is called:
A) Rollover
B) Nonforfeiture
C) Replacement
D) Reinvestment
2. Which policy provision allows an employee to change from group coverage to an individual life insurance policy?
A) Nonforfeiture
B) Assignment
C) Incontestability
D) Conversion
3. When an individual replaces a life insurance policy, the form entitled " Important Notice Replacement of Life Insurance or Annuities " is REQUIRED to be signed by:
A) The applicant only
B) Both the applicant and the insurance producer
C) The insurance producer only
D) An officer of the insurer
4. A life insurance policy beneficiary ' s life expectancy has a direct bearing upon:
A) The total amount payable under the policy as a result of the insured ' s death
B) The policy value that will be includable in the insured ' s estate
C) The taxable portion of each benefit payment under a life income settlement option
D) The premium rate for each $1,000 of face amount
5. The income benefits distributed during the payout phase of an annuity contract are normally payable to:
A) The beneficiary
B) The nominator
C) The annuitant
D) The owner
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: C |
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