ND Life & Health study guide
ND Life & Health · Work through your exam, one topic at a time.
The North Dakota Life & Health producer license is the credential that allows a person to sell life insurance, annuities, and health insurance products in North Dakota. Licensing is handled by the North Dakota Insurance & Securities Department, which publishes separate pages for resident producers, non-resident producers, business entities, continuing education, appointments, and fees. People pursue this credential to work as agents or brokers selling individual and group life coverage, annuities, and health products such as major medical, Medicare-related coverage, and supplemental plans. The qualifying exam is multiple choice and is built around four content areas that carry equal emphasis: North Dakota insurance laws, regulations and department practices; life insurance principles, products and annuities; health insurance principles, products and government programs; and policy provisions, riders, underwriting and consumer protections. The ND Life & Health study guide has 4 sections and about 1,376 words.
01North Dakota Insurance Laws, Regulations and Department Practices
North Dakota's insurance market is supervised by the Insurance Department, headed by the Commissioner of Insurance - an elected statewide official serving a four-year term, headquartered in Bismarck. The Commissioner enforces ND Century Code Title 26.1, licenses insurers and producers, conducts financial and market-conduct examinations, holds hearings, issues cease-and-desist orders, levies fines, and may suspend or revoke licenses.
369 words, about 2 min02Life Insurance Principles, Products and Annuities
Premiums reflect three variables: mortality/morbidity (expected claims), interest (earnings on reserves), and expense (commission, administration, taxes). Higher assumed interest or lower expense lowers the premium; a substandard rating raises it.
332 words, about 2 min03Health Insurance Principles, Products and Government Programs
ACA plans are guaranteed issue, cannot exclude pre-existing conditions, must cover the ten essential health benefits, and must cap out-of-pocket spending. Metal tiers describe actuarial value: bronze about 60%, silver 70%, gold 80%, platinum 90%.
330 words, about 2 min04Policy Provisions, Riders, Underwriting and Consumer Protections
A life policy is a unilateral, conditional contract of adhesion. The entire contract clause means the policy plus any attached application is the whole agreement - no side promises.
345 words, about 2 min