Life-Producer Exam Dumps : Maryland Life Producer Exam (Series 20-27)

Comprehensive and Detailed Step by Step Explanation:Ethical responsibilities and state laws mandate that insurance producers act in good faith when handling applications.

Reporting material facts to the insurer (D):Producers must disclose any information that could impact underwriting decisions. Transparency ensures that policies are accurately priced and legally enforceable.

Denying knowledge (A):Violates ethical and legal obligations.

Acknowledging facts only if asked (B):Demonstrates bad faith and can lead to legal penalties.

Advising applicants to amend (C):While this helps, it does not fulfill the producer’s duty to inform the insurer.

References: Maryland Insurance Administration Producer Code of Ethics, COMAR 31.03.13.

Comprehensive and Detailed Step by Step Explanation:Accelerated benefits are often triggered by the inability to performactivities of daily living (ADLs), which are standard measures of functional capacity.

Dressing (A), Eating (B), Bathing (C):Correctly identified as ADLs used to assess eligibility for benefits.

Speaking (D):Not classified as an ADL under Maryland insurance definitions or long-term care benefit triggers.

References:Maryland Accelerated Benefits Guidelines, Long-Term Care Standards, and COMAR 31.09.04.

Comprehensive and Detailed Step by Step Explanation:Insurance producers using an assumed or fictitious name for their business must file the name with the Maryland Insurance Administration (MIA).

File the name with the Insurance Administration (A):This ensures transparency and compliance with regulatory standards.

Apply for an additional license (B):Not required; the existing license covers the producer.

Apply for an additional appointment (C):Applies when a producer represents multiple insurers, not for fictitious names.

Post a $10,000 bond (D):Irrelevant to this context.

References: Maryland Insurance Administration Guidelines on Producer Licensing and Business Names.