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  4. Insurance Regulation

Free Insurance Regulation Practice Questions

Maryland Life exam — 31 practice questions.

Subtopics: Regulatory authority, Title of regulator, Appointment of Commissioner, Continuing education, CE ethics component, License renewal cycle, Licensing prerequisite, Appointment by insurer, Certificate of authority, Commissioner powers, Unfair trade practice - twisting, Churning, Rebating, Misrepresentation, Defamation, Fiduciary duty, Free look, Replacement regulation, License action, Change of address, Cease and desist, Nonresident license, Insurance fraud, Temporary license, Examination of insurers, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act

Read the Insurance Regulation study guide

Sample questions & answers

1. Which agency regulates the business of insurance in Maryland?

The Maryland Insurance Administration

Insurance in Maryland is regulated by the Maryland Insurance Administration (MIA), the state agency charged with enforcing the Insurance Article.

2. What is the title of the official who heads the Maryland Insurance Administration?

Insurance Commissioner

The MIA is led by the Insurance Commissioner, who administers and enforces Maryland's insurance laws.

3. How does the Maryland Insurance Commissioner generally take office?

Appointed by the Governor

Maryland's Insurance Commissioner is an appointed official, generally appointed by the Governor (with Senate confirmation), rather than elected.

4. How many hours of continuing education are commonly required of Maryland resident producers each renewal period?

24 hours every two years

Maryland resident producers are commonly required to complete about 24 hours of continuing education every two years, including an ethics component (verify current totals with the MIA).

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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.