NM Life & Health study plan

Define risk, peril, hazard, and pure vs. speculative risk in your own words

Distinguish indemnity from non-indemnity and insurable from uninsurable risk

Explain adverse selection, insurable interest, and the principle of utmost good faith

Map the four domains' point weights to a personal time budget in a written plan

Classify the legal characteristics of an insurance contract (offer, acceptance, consideration, legal purpose, adhesion, aleatory)

Describe the roles of producer, insurer, and beneficiary in the application and policy-delivery process

Explain underwriting, field underwriting, and the significance of warranties, representations, and concealment

Outline the standard life insurance policy provisions in the order they appear in a policy

Differentiate term, whole life, universal life, and variable life by premium, cash value, and risk bearer

Compute a simple needs-analysis figure using human life value and needs approaches

Identify settlement options, dividend options, and nonforfeiture options and when each applies

Trace the tax treatment of premiums, death benefits, cash-value growth, and policy loans

Explain annuities by payout timing, funding method, and payout option

Contrast qualified and nonqualified retirement plans and the role of life insurance in business planning

Identify key-person, buy-sell, split-dollar, and deferred-compensation arrangements

Complete a timed 40-question life-domain set and log every miss by cause

Distinguish morbidity from mortality and explain how each drives health vs. life pricing

Compare indemnity, service, HMO, PPO, and consumer-directed health plans

Trace disability income benefit periods, elimination periods, and definition-of-disability tiers

Explain coinsurance, deductibles, copays, and out-of-pocket maximums with numeric examples

Summarize Medicare Parts A through D, Medicaid, and the coordination-of-benefits rules between them

Describe long-term care policy triggers, benefit structures, and inflation protection

Explain group health underwriting, COBRA-style continuation concepts, and HIPAA-style portability principles at a conceptual level

List the New Mexico producer licensing requirements, including prelicensing education, exam, appointment, and renewal

Identify New Mexico rules on commissions, rebating, twisting, misrepresentation, and unfair claim practices

Explain fiduciary handling of premiums, recordkeeping, and producer reporting obligations

Describe the state guaranty association's purpose and its coverage limits for life and health

Describe the New Mexico insurance department's examination and enforcement authority and the appeal path

Re-drill every logged error from weeks 1 through 7 and rewrite each as a rule statement

Complete two full-length timed practice exams under test-day conditions

Reconcile each practice-exam miss against the four domain weights to find residual weak spots

Assemble a one-page final-review sheet of numbers, limits, and definitions only