a producers secretary who solicits prospects on the telephone

Kathysannuity is currently experiencing tax-deferred growth until she retires. Which of the following is NOT a federal requirement of a qualified plan? May 2020. This is an unlawful practice known as, must be delivered with or prior to policy delivery. All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? C. Protects consumers with guidelines regarding creditreporting and distribution. Annuities are intended to create an estate. How to take legal action against an insurance company. D. Assist an insurer in determine an applicantscreditworthiness. On which date would Sonya have coverage? Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. Johan the producer charged a fee to a sales prospect for analyzing insurance coverages A written statement describing the elements of a policy is called, All of the following are considered appropriate uses of life insurance for business purposes EXCEPT, Protecting the business by covering entry level employees with life insurance, An insured individual and the policy's beneficiary die from the same accident. Which of the following must be included in the advertisement? It is administrated by the federal government, C. It is funded by federal, state, and local taxes. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Submit to the replacing insurer a list of the policies to be replaced. Medical history from the insured may be reviewed and reported, If an insurer receives a notice of claim under an individual health policy, and fails to provide proof of loss forms within 15 days, the insured must, File a written proof of loss, detailing the occurrence, character and extent of loss. An accident and health policy that provides reimbursement benefits makes them payable to the, A separate converted policy may, at the option of the insurance company, be issued to cover a, Dental treatment is needed to repair an injury. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. What does the word "level" in Level Term describe? As beneficiary, he will pay__taxeson any money withdrawn. Which scenario would most life insurance policies exclude coverage for? Pierre the producer receives a premium for an individual health insurance policy. Under this plan a, Adoption of a child (an uninsured, eligible employee who acquires a new dependent through marriage, birth, or adoption may qualify for special enrollment in a small employer's health benefit plan). In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. Whichof these will have the highest monthly payout upon Annuitization? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Bob and Tom start a business. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? A separate converted policy may, at the option of the insurance company, be issued to cover an. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. 5511. Term, Whole, and universal lifeinsurance. These rights are called, A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of. Whatis the purpose of the medical information Bureau (MIB)? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. A medicare supplement plan can be canceled by the insurer, Small employers who are sponsored by an insurer to provide group benefits to its employees are called, Health insurance involves two perils, accident and _____. d. Individual disability income insurance premiums. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? The proceeds of this contract could be subject to the claims of. Whichof the following is a requirement for ANY change in an insurance application? Which of the following is present when an applicant stands to lose value if the insured dies? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? Write a sentence explaining its significance to the executive branch. A. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. 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. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. The producer decides not to respond. Please sign in to share these flashcards. A Whole life policy option where extended terminsurance is selected is called a(n), A provision in a whole life policy that allows apolicy owner to terminate the policy in return for a reduced paid-up policy ofthe same type is called a(N). What will the beneficiary receive if an annuitant dies during the accumulation period? The Healthcare Insurance Exchange offers plans for everyone. Over the course of a year, which premium payment mode is most expensive? Prospective producer who is waiting to take the state examination. What does the amount of these credits represent? A producer has recently died and leaves behind a spouse. A newborn is required to be covered for ______ days from the moment of birth. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. 1. b. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Whichtype of life insurance is normally associated with a payor benefit rider? What is the purpose of the Medical Information Bureau (MIB)? Which type of life insurance policy is this? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? A. D. Adjustable, permanent, and limited-pay lifeinsurance. . Policyowners from misrepresentations and loss of benefits, Replacement regulation is designed to protect, A producer must notify the Commissioner within _____ days of a felony conviction, Dependent children under a health insurance plan must be provided coverage up to age, written authorization from the proposed insured, Prior to conducting an HIV-related test, the insurer must obtain, An insurance producer agrees to pay the first monthly premium for an insurance applicant. Which of these if NOT considered a form of life insurance advertisement? A term life insurance policy is what most people think of when they think about life insurance. Which of the following is NOT required in an order from the Commissioner? Unit 4 Assign Rubric Impact of Colonial Experience (2).pdf, 0B1FC21B-547A-410E-8D8F-64E2A8C35084.jpeg, My Path Assessment Editor _ WorldQuant University.pdf, Oral liquid 50 microgramsml Tablet 625 micrograms 250 micrograms epinephrine, spirit its source is what constitutes religion This can be traced to the, Write in a brief description for the bubbles with underlined words 2 Choose a, BUS 1021 Organizational Behavior (OB) Consulting Assignment.edited11.docx, lOMoARcPSD11771818 True or False The above plot shows clear evidence that the, 2 Non tariff barriers which are further classified into two categories a, CTS115 - Chapter 5 - Case Study - Denial of Service -Moss.docx, The fallacy described as a red herring is most similar to a False cause b, Copy of Algebra Unit 2, Concepts 1, 2, 3.pdf, The model is used to describe the interaction of external forces that affect an, EVM Presentation - Project Management .pptx, What is the shape usually used to refer to the curve that illustrates. Changing from one occupation to another at the same general status is called _____. When does a life insurance policy typically become effective? Advertising material for a life insurance policy does NOT need to contain which of the following? 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. The face amount and the premium will remain constant over the 10-year period. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. An individual life insurance policy can be contested by the insurer only during the first _________ years of the contract, An order issued by the commissioner that prohibits a specific practice listed in the order is called a. Her agent submitted the information to the insurance company on April 6. A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. b. Pat the client interest on any monies held. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? a. social stratification b. feminization of poverty c. social class d. social mobility e. bourgeoisie f. vertical mobility g. proletariat h. intergenerational mobility i. wealth j. horizontal mobility k. income l. open-class system m. prestige n. absolute poverty o. relative poverty p. caste system. PartA Hospital expense coverage provided under Medicare is automatically madeavailable to each of the following EXCEPT, A. A50-year-old individual who has qualified for SSDI in the last 24 months, B. A70-year-old NOT Eligible for Social Security, C. A55-year-old suffering from kidney failure. How often must an insurance producer's license in New Jersey be renewed? Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Which type of contract may NOT be issued by an insurance company? Which of the following is TRUE regarding the federal income tax? a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. 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 information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? When is an existing health insurance policy required to provide coverage for a new born child? visas, binomial trials. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? All Medicare Supplement policies MUST contain which provision? The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. Providing claim payments to insureds under the guidelines of the insurance contract. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. What is the purpose of having an accelerated death benefit on a life insurance policy? What is the contract called that is issued to an employer for a Group Medical Insurance plan? Which of the following actions by a producer would NOT result in a license suspension or revocation? 1. Provides the insured a specific dollar amount for services, An example of an unfair method of competition is, Overstating the benefits of an insurance policy, A pharmacy benefit covers prescription drugs derived from a list called, The type of policy which pays on the death of the last person is called, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination, Ownership of a life insurance policy may be temporarily transferred with a(n). An insurer may pay a commission in which of the following scenarios? 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. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Which of the following statements is TRUE about Medicaid? To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. 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? In which of the following relationship would there NOT be an insurable interest? Whichphase is this annuity in? 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. According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. An insurer formed according to the legal requirements of another country is called an. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Whichmarket index is normally associated with an indexed annuitys rate of return? \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. Shirley has a $500,000 10-year non-renewable level term life policy. Mary ran into John, another employee, who happened to be taking outthe garbage. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Their offer/administration. Under a Traditional IRA, Interest earned istaxed. Both partners are still married at the time of Bob's death. . who would be responsible for the prosecution of this crime? When are group disability benefits considered to be tax-free to the insured? Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. Alimited payment whole life policy provides. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. Which of the following basics is a producer's fiduciary responsibility? Which of the following is considered a tax-deductible medical expenseunder this rule? Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. 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. The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. Which of the following would be considered a "dependent child"? What types of life insurance are normally usedfor key employee indemnification? C. Funded by federal, state, and local taxes. An individual the means to replace wages. Please select the correct language below. B. Whenthe application is collected and policy is issued, C. Whenthe application is completed and signed, D. Whenthe completed application is signed and initial premium is collected. Allof these are considered key factor in underwriting life insurance EXCEPT, Anapplicant intentionally lying to an insurance company on an application inorder to obtain a cheaper premium is an example of. The entity which issues the certificate of authority is the, A policyowner has _____ days after policy delivery to return a major medical policy for a full refund, make any transactions before being approved for a licence, counsels and advises the Governor on all matters assigned to the Maryland Insurance Administration, A Maryland insurance producer solicits an insurance policy. XZY company has applied for group health insurance for its employees. 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. 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. This situation is called, Written notice of a health insurance claim should be given to the insurer within _____ days after the occurrence of any loss covered by the policy, To conduct insurance business in this State, an insurer must be issued a certificate of authority. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? 1. a producers secretary who solicits prospects on the telephone 12. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. 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. Which of these is NOT an Unfair Claims Settlement Practice? by geriford27, Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? Which of the following is a reinstatement condition? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? The policy automatically converts to whole lifeafter the 10-year period, B. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. The names of the insurance companies represented by the producer. What happens to coverage under a children's term rider when that child reaches a certain specified age? 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. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? Claims for a Long-Term Care policy MUST be paid for which of the following conditions? a. Theinsured skipped a payment beyond the 31 day grace period, b. Theinsured was injured while participating in an illegal occupation, c. Theinsured was given a notice of cancellation from the insurer, d. Theinsured suffered an injury as an innocent bystander during a bank robbery. A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. 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 60 How often must an insurance producer's license in Maryland be renewed? What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. The family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. 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? A whole life policy option where extended term insurance is selected is called a(n). c. Travel accidental insurance premiums. An individual can enroll in a Part C Medicare Advantage Plan at what time? Which military service exclusion clause would pay upon his death? The statement which best describes the relationship between the relationship between the premiums of a whole life policy and the premium payment period is, The shorter the payment period, the higher the premium. What would be an expense factor in a insurance program? \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists. Determine whether the discriminant is positive, negative, or zero. A debtor may receive Credit Life insurance in which of the following forms? An attending physician's statement would be appropriate for which life insurance purpose? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ Please upgrade to Cram Premium to create hundreds of folders! One of. We weren't able to detect the audio language on your flashcards. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. Whichof the following is Medicare Part B also known as? A separate converted policy may, at the option of the insurance company, be issued to cover a (n). An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. What is the primary purpose of a rating service company such as A.M. Best? a producers secretary who solicits prospects on the telephone. You have created 2 folders. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. Which of these is NOT considered to be a risk factor in life insurance underwriting? How many days notice must the Commissioner give prior to a hearing? 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. Which type of disability would be less than total impairment and equal to permanent impairment? Whichof these benefit options would he choose? New Jersey Department of Banking Insurance, A limited payment whole life policy provides, All advertisements for health insurance shall make clear the identity of the, The double indemnity provisions in a life insurance policy pertains to an insured's death caused by a. Mike has inherited his father's traditional IRA. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. How long must an individual be unable to engage in any gainful activity due physical or mental disability in order to qualify for Social Security Total Disability? Which of the following is NOT part of an insurance contract? Afterwards, she deposits the check into her personal account. 59 and owned account for a minimum of 5 years, C. 70 and owned account for a minimum of 10 years, D. 70 and owned account for a minimum of 5 years, A. Cancelingdisability policy to buy a term life policy, B. Cancelinga term life policy to buy a whole life policy, C. Cancelinga long-term care policy to buy a whole life policy, D. Cancelinga whole life policy to buy a major medical policy. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? When initial premium is collected and policy is issued.

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