New Mexico life and health practice exam

1. How many continuing education credit hours must a New Mexico resident insurance producer complete each compliance period?

1. 12, including 1 hour of ethics
2. 24, including 3 hours of ethics
3. 24, with no ethics requirement
4. 30, including 3 hours of ethics

2. A New Mexico producer completes 30 CE credit hours in one compliance period. How many of the extra hours may be carried over to the next compliance period?

1. 6
2. 3
3. 12
4. None

1. Within how many days must a New Mexico licensee inform the superintendent of a change in legal name or address?

1. 20 days
2. 10 days
3. 30 days
4. 60 days

2. In New Mexico, an insurer must file a producer's appointment within how many days from the date the agency agreement is executed?

1. 5 days
2. 15 days
3. 30 days
4. 45 days

3. When an insurer terminates a producer's appointment in New Mexico, it must notify the superintendent within how many days following the effective date of the termination?

1. 10 days
2. 15 days
3. 30 days
4. 90 days

4. A New Mexico licensee must report an administrative action taken against the licensee within:

1. 10 days of the initial complaint
2. 20 days of the hearing date
3. 60 days of the final disposition
4. 30 days of the final disposition of the matter

1. Before selling annuities in New Mexico, a producer must complete a one-time annuity training course of at least how many credit hours?

1. 1
2. 2
3. 4
4. 8

2. Under New Mexico's annuity suitability rule, records of annuity recommendations must be kept for how long after the insurance transaction is completed by the insurer?

1. 3 years
2. 5 years
3. 7 years
4. 10 years

1. When a life insurance policy or annuity replaces an existing contract in New Mexico, the replacing insurer must give the owner the right to return the new contract for a full refund within:

1. 10 days of delivery
2. 20 days of delivery
3. 15 days of delivery
4. 30 days of delivery

2. Under New Mexico's replacement rule, the replacing insurer must send notice of the proposed replacement to the existing insurer within how long after receiving a completed application indicating replacement?

1. 5 business days
2. 10 business days
3. 30 days
4. 48 hours

3. In New Mexico, the Notice Regarding Replacement given in a replacement sale must be signed by:

1. The producer only
2. The applicant only
3. Both the applicant and the producer
4. The existing insurer and the replacing insurer

1. A New Mexico Medicare supplement policy may not exclude or limit benefits for losses due to a preexisting condition that are incurred more than how long after the effective date of coverage?

1. 3 months
2. 6 months
3. 12 months
4. 24 months

2. New Mexico's Medicare supplement open enrollment period is the period beginning with the first day of the first month in which the individual is 65 or older and enrolled in Medicare Part B, and lasting:

1. 30 days
2. 3 months
3. 12 months
4. 6 months

1. Under New Mexico's rule for accident-only, specified disease, and hospital indemnity coverage, the grace period for a plan with a monthly premium must be at least:

1. 10 days
2. 7 days
3. 31 days
4. 5 days

1. Under New Mexico's variable life insurance rule, after three full policy years at least what percentage of the policy's cash surrender value must be available as a policy loan?

1. 50%
2. 75%
3. 90%
4. 100%