The policies continue in force with no change. Tara the producer is delivering a specified disease insurance policy to a new policyowner. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. is one of the oldest and best known of all Barbadian funeral establishments. June 5, 2022 . In order for the producer's insurance business to continue, the Commissioner may issue to the producer's spouse a, has a mental or physical handicap and remains dependent on the parent, A dependent child may remain on a parent's health insurance plan beyond age 26 if the child, Under a small group health plan, an insurer is required to provide a newly-married employee at least ____ days to add the new spouse to the plan, replacing an insurance policy from one insurer to another based on misrepresentation, legible and brief description of the policy on the first page, Each delivered life insurance policy in Maryland MUST include a, The _____________ of Coverage describes policy features, benefits, exclusions, and riders in a Long-Term Care policy, A person who, for a fee, gives advice or recommendations on benefits provided by an insurance contract is called, Child over the age of 18 years who attends an educational institution and relies on the insured employee for financial support. Which of these is affected by the frequency of an insurance policy's premium payments? A producer may begin to solicit insurance ONLY. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? Which disability policy provision would address any concerns of the value of the benefits decreasing over time? C. Funded by federal, state, and local taxes. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? C) Unintentionally misrepresented a material fact on the application. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? A producer's secretary who solicits prospects on the telephone Must be licensed as a producer Which of the following is a requirement for ANY change in an insurance application? What types of life insurance are normally usedfor key employee indemnification? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) How many months can a life insurance policy normally be backdated from the date of application? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. Howsoon can the benefit payments begin with a deferred annuity? 1. Over the course of a year, which premium payment mode is most expensive? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. 1. What does the Group Life underwriting risk selection process help protect insurance companies from? A master contract and certificate of coverage can be found in which type of policy? Within how many days must a producerreport to the commissioner any administrative actions made against him/her? D. The face amount and premium will remain constantover the 10-year period. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. A life insurance policy sold in Maryland can be cancelled for nonfraudulent misstatements for up to, A person who has a contract with an insurance company to represent it, To a licensed producer who is appointed with the insurer. Tarathe producer is delivering a specified disease insurance policy to a new policyowner. With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. The policyholder for a group health benefit plan is considered to be the, A Medicare Supplement policy can be cancelled by the insurer for, As of January 1, 2007, producer's license expires, Every two years on the last day of the producer's birth month, An insurer has the right to recover payment made to the insured from the negligent party. Reggie purchased a life insurance policy with a face amount of $500,000. All Medicare Supplement policies MUST contain which provision? Under a Traditional IRA, Interest earned istaxed. D. Administered by the federal government. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Their offer/administration. B. Anytimewithin 12 months after date of purchase, C. Aminimum of 6 months after date of purchase, D. Aminimum of 12 months after date of purchase. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. By . \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? Which type of life insurance policy is this? Add to folder Which of these statements about Medicaid iscorrect? juin 5, 2022 . B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Craig submits a $500 claim for medical expenses. the exceptions, reductions, and limitations affecting the basic provisions of the policy, Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Providing claim payments to insureds under the guidelines of the insurance contract. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. Therole of the federal government was expanded when Medicaid was establish byallowing the state to, A. Froma large PPO on a statewide level, B. Purchasehealth insurance from the federal government, C. Receivematching funds to expand public assistance programs, D. Deferall costs to the federal government for public assistance program, Anaccident and Health policy that Provides reimbursement benefits makes them payable to the, Paulis an employee who caught a disease unique to the trade in which he was exposedto. What is the primary purpose of a rating service company such as A.M. Best? Who is required to notify the producer in the event of appointment termination? You are given the graphs of several functions of the form f(x)=ax2+bx+cf(x)=a x^2+b x+cf(x)=ax2+bx+c for different values of a, b, and c. For each function. EXECUTIVE SUMMARY. Paul has a (n), Failingto Promptly provide a reasonable explanation for the denial of a claim is conservedto be a(n), AnHMO that involves a partnership of physicians and other providers who practiceout of a central facility is called a(n), Smallemployers who are spooned by an insurer to provider group benefits to itsemployees are called. The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. Bob and Tom start a business. Financial report from the previous year. The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. In this situation, who will receive Bob's policy proceeds? Which of the following is Medicare Part B also known as? Which of the following is NOT a circumstance to which a temporary producer license can be issued? Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. As beneficiary, he will pay ____ taxes on any money withdrawn. b. Pat the client interest on any monies held. A debtor may receive Credit Life insurance in which of the following forms? Determines what is paid by the primary and secondary insurers in the event of a claim, A producer has recently died and leaves behind a spouse. What is this an example of? Which of the following statements is TRUE? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? visas, binomial trials. There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) Whatis the primary reason for buying an annuity? How often must the Commissioner examine each domestic insurance company? Howdo interest earnings accumulate in a deferred annuity? Which of the Uniform Optional Provisions covers this situation? The law that established insurance transactions regulated by the states is called. Which of the following is a reinstatement condition? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Registered for the state insurance examination. Fundingfor Medicare Part B is Partially provided by. The type of annuity she is seeking is called? Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). How often must an insurance producer's license in Maryland be renewed? The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. d. Individual disability income insurance premiums. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? This rider is called a(n). Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Which type of disability would be less than total impairment and equal to permanent impairment? Please sign in to share these flashcards. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? B. Gainsare tax exempt at distribution. Commissioner may impose an administrative penalty. The Commissioner issues a subpoena to a producer. What does the amount of these credits represent? Determine whether the discriminant is positive, negative, or zero. A minimum of 12 months after date of purchase. Which of the following is NOT part of an insurance contract? a producers secretary who solicits prospects on the telephone. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? XZY company has applied for group health insurance for its employees. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu You have created 2 folders. Course Hero is not sponsored or endorsed by any college or university. At what age can she begin to receive distributions without a tax penalty? In what part of insurance policy benefits found? B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. The greater of the accumulated cash value or the total premium paid. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. In event of acontroversy between the insured and the company, the producer is considered to representthe. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. a producers secretary who solicits prospects on the telephone Welcome To Be Falcon Solutions Website Hotline & WhatsApp : +971556212280 | Landline : +97143873596 , +97167499398 james reynolds obituary popeyes vs chicken express do venmo requests expire yorba linda football maxpreps primary care physicians in cleveland ohio Please upgrade to Cram Premium to create hundreds of folders! This change is called a(n). Which of the following is NOT a federal requirement of a qualified plan? The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? -is an example of the illegal act called twisting -must be bonded through the state -must be licensed as a producer -is not required to be licensed as a producer must be licensed as a producer Producers selling insurance in New Jersey while having a residence and business address Term, Whole, and universal lifeinsurance. A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age, A guaranteed issue insurance policy has no, A single premium cash value policy can be described as, A policy that is paid up after only one payment. A producer has recently died and leaves behind a spouse. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Who would be responsible for the prosecution of this crime? After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) To be classified as a small employer, an employer mustNOT have more than__ eligible employees. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? A master contract and certificate of coverage can be found in which type of policy? In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. Long-term care insurance and Medicare Supplement plans have a free-lock period of ______ days, A ______ insurance company is one that was formed under the laws of a state other than Maryland, they are both licensed in the same line of business, Two producers may share a commission ONLY if, Mary's Medicare Supplement policy had been in effect for 12 months. Which of the following is NOT information found in a life insurance buyer's guide? To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. Whathappens when an insurance policy is backdated? Which market index is associated with an indexed annuity's rate of return? Which of these if NOT considered to be a purpose of an annuity? The Healthcare Insurance Exchange offers plans for everyone. If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner? Which of the following is considered a tax-deductible medical expenseunder this rule? What happens to interest earned if the annuitant dies before the payout start date? Hill during her initial calls made to the call center. A doctor who accepts Medicare Assignment agrees to which of the following? Pierre MUST remit the premium to his insurer within ___ business days of receipt. Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. A producer's secretary who solicits prospects on the telephone, When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT, In Maryland, a full-time employee of a small employer MUST work an average of at least _____ per week, A producer may begin to solicit insurance ONLY when. C. Normally graded over a period of 20 years. What happens when an insurance policy is backdated? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. The two plans are fee-for-service and. Which of these will typically authorize treatment from a specialist? Whichphase is this annuity in? Benefits for a Medicare Supplement policy. 1. In the event of employment termination, group insurance can be kept if the employee pays the premiums. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. Producing an inadequate amount of new premium. b. . Which of the following is typically NOT eligible for coverage in a group health policy? An insurance company's trademark instead of the company's actual name, Using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy, Field underwriting performed by the producer involves, Completing the application and collecting initial premium. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. A. The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. \\ \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ D. The face amount and premiumwill remain constant over the 10-year period. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. If Jay were to receive a fee for this advice (in addition to his commission), he MUST, Obtain a signed memorandum from the prospect acknowledging the amount of compensation. Erica is 35 years old and owns an IRA. A producer is meeting with a client to determine whether an annuity would be suitable for purchase. A life insurance policyowner is allowed ____ days upon policy delivery to return the policy for a full premium refund, A producer's license MUST be renewed every _______ years, Collecting a charge for insurance that is less than the charge applicable to that insurance. Maria the agent would like to advertise an annuity product on a highway billboard. Which law do all insurers and their producers need to comply with? Which of these describes the change that will take place?A) Coordination of benefitsB) ConversionC) Extension of benefitsD) Rollover, Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.A) policyB) certificateC) applicationD) rider. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org Our Future You series provides a range of topical advice and guidance via webinars and podcasts. June 24, 2022 . A life insurance policy is hallowed ___ days upon policy delivery to return the policy for a full premium refund.. An order issued by the commissioner that prohibits a specific practice listed in the order is called a (n). Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. 2.1.1 6 Whole life Insurance in Malaysia a producers secretary who solicits prospects on the telephone. Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. Which of these is NOT an Unfair Claims Settlement Practice? AMaryland insurance producer solicits an insurance policy. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. & \text{Balance}& \text{Balance} & \\ Which option was chosen? Pierre the producer receives a premium for an individual health insurance policy. An applicant's character and personal habits can be obtained for underwriting purposes from which source? 14 day waiting period / 10 year benefit period. Chapter 8 Texas Laws and Rules Pertinent to I, NY state insurance license practice exam ques, Chapter 16: Private Insurance Plans for Senio, Totalliabilitiesandstockholdersequity, Fundamentals of Financial Management, Concise Edition, Anexo del Real Decreto 1630/2006 Educacin in. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Percent frequency distribution for key variables. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Elizabethis the beneficiary of a life insurance policy. Jay the producer is giving insurance advice regarding a prospect's existing coverage. what happened to amy bailey happy healthy humble . a. Mustmeet certain underwriting guidelines. Ahealth care provider claim may be settled using which of the following paymentmethods? To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. Inwhich of the following situations would the insurer be liable for a loss? Determine whether there are 0,1 , or 2 real solutions to f(x)=0. An individual can enroll in a Part C Medicare Advantage Plan at what time? At what age does the open enrollment period typically begin for Medicare Supplement coverage? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? A _______ company is owned by its shareholders, The ___________ has the right to renew a small employer health plan, providing incorrect, misleading, incomplete, or materially untrue information in the license application, A producer who is licensed in Maryland but resident in another state is called a, A minor may receive a life insurance policy's death benefit ONLY, Interest on death benefits are NOT required to be paid by an insurance company as long as proceeds are paid within ______ after the date of the death of the insured, Submit to the replacing insurer a list of the policies to be replaced. Adoctor who accepts Medicare Assignment agree to which of the following ? A. C. Protects consumers with guidelines regarding creditreporting and distribution. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. A. Who would make the final determination on whether or not an insurance advertisement is misleading? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A license MUST notify the Commissioner of an address change with ___ Days of the change. Whowere Keogh Plans designed to provide pension benefits for? Which of these statements is true? Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. a producer's secretary who solicits prospects on the telephone.
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