Massachusetts life and health practice exam

1. In Massachusetts, insurance producers are licensed and regulated by the:

1. Department of Financial Services
2. Division of Insurance
3. Office of the Attorney General
4. Insurance Commission

2. Massachusetts producer CE runs on what cycle?

1. A 4-year cycle
2. A 2-year cycle
3. A 3-year (triennial) cycle tied to the licensee's birth date
4. An annual cycle

3. How many CE hours must a Massachusetts resident producer complete before the first license renewal?

1. 30 hours
2. 45 hours
3. 24 hours
4. 60 hours

4. After the first renewal, how many CE hours must a Massachusetts producer complete in each three-year period?

1. 24 hours, including 3 hours of ethics
2. 45 hours, including 3 hours of Massachusetts-approved ethics
3. 60 hours, including 6 hours of ethics
4. 30 hours, including 3 hours of ethics

5. How long may a Massachusetts producer carry forward excess classroom CE hours?

1. Into the next 36-month period only
2. Into the next two periods
3. Excess hours may not be carried forward
4. Indefinitely

6. After receiving notice that a Massachusetts producer license will be denied or not renewed, the applicant or licensee may demand a hearing within:

1. 60 days
2. 10 days
3. 90 days
4. 30 days

1. Massachusetts requires a life insurance policy to provide a grace period for premiums of:

1. 10 days
2. 30 days
3. 60 days
4. 31 days

2. In Massachusetts, a life policy becomes incontestable after it has been in force during the insured's lifetime for:

1. 2 years from its date of issue
2. 3 years from its date of issue
3. 1 year from its date of issue
4. 5 years from its date of issue

3. In Massachusetts, a policyholder is entitled to have a lapsed life policy reinstated within:

1. 2 years from the date of default
2. 1 year from the date of default
3. 3 years from the date of default
4. 5 years from the date of default

1. Under Massachusetts's replacement regulation, the owner may return a replacement policy for a refund within:

1. 30 days from delivery
2. 10 days from delivery
3. 20 days from delivery
4. 45 days from delivery

2. In Massachusetts, a replacing insurer must notify the existing insurer within:

1. 3 working days of receiving the application
2. 7 working days of receiving the application
3. 30 days of policy delivery
4. 5 business days of receiving the application

3. Massachusetts insurers must keep replacement records for at least:

1. 3 years, or until the next regular examination
2. 5 years
3. 1 year
4. 10 years

1. The Massachusetts Life and Health Insurance Guaranty Association covers life insurance cash surrender values up to:

1. $50,000
2. $250,000
3. $300,000
4. $100,000

2. The Massachusetts guaranty association covers the present value of annuity benefits up to:

1. $100,000
2. $250,000
3. $300,000
4. $500,000

3. The Massachusetts guaranty association covers basic hospital, medical, and major medical expense insurance up to:

1. $500,000
2. $100,000
3. $250,000
4. $300,000