Maine Life and Health Insurance Agent Exam

Need of a License: An individual who is acting as an agent or producer needs a license to sell life and health insurance in Maine.

Who Grants a License: Licenses are granted by the Maine Bureau of Insurance.
Life and Health Insurance Agent Exam
Qualifications to receive a License: Individuals who wish to obtain an insurance license in the State of Maine must:
 
1. Be at least 18 years of age.
2. Be a resident of the state.
3. Make a reservation and pay the fee.
4. Pass the examination.
5. Apply for a license after taking the exam.
 
Applying for the Producer Exam:  It is highly recommended that the Maine Insurance Licensing Candidate Handbook be reviewed, and special attention be given to the content outlines (available at www.pearsonvue.com), before taking an examination.
 
The State of Maine utilizes Pearson VUE to develop and administer its insurance licensing examination program. Pearson VUE is a leading provider of assessment services to regulatory agencies and national associations. Online reservations are the most efficient way for candidates to schedule their examination. Candidates must go to www.pearsonvue.com/me/insurance to make an online reservation for an examination. Candidates may call (800) 274-4959 to make an exam reservation by phone.
 
Test Information: When candidates complete the examination, they will receive a score report marked Candidates who pass the examination will receive a score report that includes information on how to apply for a license. Candidates who fail the examination will receive a score report that includes a numeric score and diagnostic information, as well as information about reexamination.
 
Each examination is based on a detailed content outline of topics, subtopics, and references to applicable state laws, statutes and regulations. The Maine Insurance Licensing Candidate Handbook contains specific content information beyond the following general outlines:
 
MAINE LIFE – GENERAL KNOWLEDGE CONTENT (50 scoreable questions plus 10 pretest questions)
 
I. TYPES OF POLICIES (12)
A. Traditional whole life products
B. Interest/market-sensitive life products
C. Term life
D. Annuities
E. Combination plans and variations
 
II. POLICY RIDERS, PROVISIONS, OPTIONS, AND EXCLUSIONS (19)
A. Policy riders
B. Policy provisions and options
C. Policy exclusions
 
III. COMPLETING THE APPLICATION, UNDERWRITING, AND DELIVERING THE POLICY (11)
A. Completing the application
B. Underwriting
C. Delivering the policy
 
IV. TAXES, RETIREMENT, AND OTHER INSURANCE CONCEPTS (8)
A. Third-party ownership
B. Group life insurance
C. Retirement plans
D. Life insurance needs analysis/suitability
E. Social Security benefits and taxes
F. Tax treatment of insurance premiums, proceeds, and dividends
 
LIFE - Maine-Specific Content Outline State Laws and Rules (25 scoreable questions plus 5 pretest questions)
 
I. MAINE LAWS AND RULES COMMON TO LIFE, ACCIDENT AND HEALTH INSURANCE (20)
A. Superintendent of Insurance
B. Definitions
C. Licensing requirements and limitations
D. Marketing practices 
E. Third-party notice of cancellation
 
 II. MAINE LAWS AND RULES PERTINENT TO LIFE INSURANCE ONLY (5)
A. Solicitation and cost disclosure
B. AIDS testing requirements
C. Changes in the application
D. Policy provisions
E. Viatical and life settlements
F. Suitability and Replacement
 
MAINE ACCIDENT & HEALTH – GENERAL KNOWLEDGE CONTENT (50 scoreable questions plus 10 pretest questions)
 
I. TYPES OF POLICIES (14)
A. Disability income
B. Accidental death and dismemberment
C. Medical expense insurance
D. Medicare supplement policies
E. Group insurance
F. Long Term Care (LTC)
G. Limited Benefit Plans
 
II. POLICY PROVISIONS, CLAUSES, AND RIDERS (20)
A. Mandatory provisions
B. Optional provisions
C. Other provisions and clauses
D. Riders
E. Rights of renewability
 
III. SOCIAL INSURANCE (3)
A. Medicare
B. Medicaid
C. Social Security benefits
 
IV. OTHER INSURANCE CONCEPTS (4)
A. Total, partial, and residual disability
B. Owner’s rights
C. Dependent children benefits
D. Primary and contingent beneficiaries
E. Modes of premium payments
F. Nonduplication and coordination of benefits  
G. Occupational vs. non-occupational
H. Tax treatment of premiums and proceeds of insurance contracts
I. Managed care
J. Workers Compensation
K. Subrogation
 
V. FIELD UNDERWRITING PROCEDURES (9)
A. Completing application and obtaining necessary signatures
B. Explaining sources of insurability information
C. Initial premium payment and receipt and consequences of the receipt
D. Submitting application (and initial premium if collected) to company for underwriting
E. Ensuring delivery of policy and related documents to client
F. Explaining policy and its provisions, riders, exclusions, and ratings to clients
G. Replacement
H. Contract law
 
ACCIDENT & HEALTH Maine-Specific Content Outline State Laws and Rules (38 scoreable questions plus 5 pretest questions)
 
I. MAINE LAWS AND RULES COMMON TO LIFE, ACCIDENT AND HEALTH INSURANCE (18)
A. Superintendent of Insurance
B. Definitions
C. Licensing requirements and limitations
D. Marketing practices
E. Third-party notice of cancellation 
 
II. Maine laws and rules pertinent to accident and health insurance only (20)
A. Policy rate discrimination
B. Required policy provisions
C. Medicare supplement
D. AIDS testing requirements
E. Long Term Care
F. Continuity of Coverage
G. Small group and individual health insurance plan
H. Health Maintenance Organization (HMO)
I. Medical Utilization Review Services
J. Preferred Provider Arrangement
K. Appeals, Grievances, and External Review
L. Affordable Care Act
M. Wellness Programs
N. COBRA and state continuation coverage
 
How to Apply for the License: Apply online via the Maine Insurance website or with a paper application, which can be found on the website.
 
State Licensing Information:
 
Maine Bureau of insurance
Licensing Division
34 State House Station
Augusta, ME 04333-0034
(207) 624-8413
www.maine.gov/insurance

Pearson VUE Licensing Information:
 
Pearson VUE
Maine Insurance
Attn: Regulatory Program
5601 Green Valley Dr.
Bloomington, MN 55437
800-274-4959
 
License Renewal Requirements: Individual Producer licenses must be renewed every two years and there is a continuing education requirement.

Applicable Regulations: Life and health insurance agents in Maine are regulated by the Maine Bureau of Insurance.
 

For more information on life and health insurance agent licensing and exam preparation, go to Tests.com’s Life and Health Insurance Exam Guide.

And take Tests.com’s free Life and Health Insurance Agent Practice Test.

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