***** READ ME FIRST!!! ****** July 2018 Correct Answer I took the MD Exam in June 2018. I was able to pass the state portion of the exam with just these notes. I only missed 2 questions out of the whole state exam. If yo
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***** READ ME FIRST!!! ****** July 2018 Correct Answer I took the MD Exam in June 2018. I was able to pass the state portion of the exam with just these notes. I only missed 2 questions out of the whole state exam. If you have a good understanding of the general concepts and you understand these state concepts, you will pass. The exam was very easy because the questions were made so there is only one logical answer and the rest of the answers were too stupid to be considered. I way over studied for my exam. Studied for 2 months. You do not need more than 1 month to pass. GOOD LUCK!!
If you fail your exam, you must wait how many days to retake? Correct Answer 14 days
Must renew license every X year? Correct Answer 2 yrs.
Must have how many hrs of continuing education and how many hrs of ethics before renewal of license? Correct Answer 24 hrs of CE and 3 hrs of ethics
Who appoints the Commissioner? Correct Answer Governor
Who is the Commissioner (2018)? Correct Answer Al Redmer, Jr.
Commissioner must prepare a report to Gov'ner X yrs.? Correct Answer At least every 5 yrs.
Primary job of the Commissioner? Correct Answer -Issue Certificate of Authority for Insurers
-Give license to producers
-Establish rules to carry out the MD Ins Laws
T/F Commissioner creates and provides insurance laws to MD legislatures. Correct Answer False - Comm only enforces the law and does not create it. MD legislatures create the laws.
Comm must examine the transactions, accts, records, and assets of each insurer every X yrs. and WHERE does the exam take place? Correct Answer 5yrs at insurer's home office and the U.S. branch office if foreign- NOT State branch office
Insurer cannot cancel policy midterm EXCEPT where there is: Correct Answer -Fraud
-Risk of public safety
-non payment
-change in the condition of the risk
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