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Life and Health Insurance Producer Exam

Medicare supplement (ME): practice questions

Our Life & Health Insurance bank has 4 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Maine

Under Rule ch. 275, §16, how large may first-year compensation be for selling a Medicare supplement policy?

  1. No more than 200% of the second-year compensation
  2. Any amount, if disclosed in writing
  3. No more than 50% of the renewal commission
  4. No more than 100% of the annual premium
Show the answer

A. No more than 200% of the second-year compensation — 02-031 C.M.R. ch. 275, §16(A).

Question 2 · Maine

Under Rule ch. 275, how long is a Medicare beneficiary's open enrollment period for Medicare supplement coverage?

  1. 12 months, starting on the Part A effective date
  2. Any time, as long as no claims are pending
  3. 3 months on each side of the person's 65th birthday
  4. 6 months from first enrolling in Part B
Show the answer

D. 6 months from first enrolling in Part B — 02-031 C.M.R. ch. 275, §11(A).

Question 3 · Maine

How long is the free-look period for a Medicare supplement policy in Maine?

  1. 30 days from delivery
  2. 10 days
  3. 15 days from the application date
  4. 60 days, less a fee
Show the answer

A. 30 days from delivery — 24-A M.R.S. §5007.

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