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  4. Insurance Regulation

Free Insurance Regulation Practice Questions

Maryland Life, Accident & Health exam — 28 practice questions.

Subtopics: Application fee, Misappropriation of premiums, Coercion, Boycott and intimidation, False advertising, Unfair discrimination, Guaranty association, Reporting actions, Acting without a license, Buyer's guide and summary, Records retention, Hearing rights, Controlled business, Sliding, Replacement notice, Net premium / reserves oversight, Privacy, Federal fraud statute, Fair Credit Reporting Act, Do Not Call, Illustrations, Disclosure, McCarran-Ferguson Act, NAIC, Twisting, Rebating, CAN-SPAM Act, Advertising

Read the Insurance Regulation study guide

Sample questions & answers

1. What must generally accompany a Maryland producer license application?

The required license fee

A producer license application must generally be submitted with the required fee set by the MIA.

2. A Maryland producer who keeps premium money belonging to an insurer for personal use has committed:

Misappropriation of fiduciary funds

Using or withholding premium funds held for an insurer is misappropriation of fiduciary funds and a serious violation subject to discipline.

3. Forcing a borrower to buy insurance from a particular producer as a condition of a loan is the prohibited practice of:

Coercion

Coercion uses force or threats to restrain trade or compel the purchase of insurance and is an unfair trade practice.

4. An agreement among insurers to intimidate or boycott another in restraint of trade is:

A prohibited unfair trade practice

Boycott, coercion, and intimidation that unreasonably restrain trade are prohibited unfair trade practices.

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Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.