D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Which of the following is a reinstatement condition? One of. Pierre MUST remit the premium to his insurer within ___ business days of receipt. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. In the event of employment termination, group insurance can be kept if the employee pays the premiums. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. As beneficiary, he will pay__taxeson any money withdrawn. Within how many days must a producerreport to the commissioner any administrative actions made against him/her? 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 is payable MUST disclose. Who would most likely be coveredunder Workers Compensation? D. The face amount and premiumwill remain constant over the 10-year period. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. What are the levels of coverage as defined by the Affordable Care Act? A master contract and certificate of coverage can be found in which type of policy? A licensed producer is required to file notice of any change of address within how many days? A beneficiary has just received a claim payment for a life insurance policy. How long is the Contestable period for health insurance policies sold in Maryland? Which of the following would be considered a "dependent child"? 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. Producing an inadequate amount of new premium. Whendoes a life insurance policy typically become effective? This change is called a(n). How often must the Commissioner examine each domestic insurance company? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Howare annuities given favorable tax treatment? Which of the following is an example of defamation? Maria the agent would like to advertise an annuity product on a highway billboard. 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. Craig submits a $500 claim for medical expenses. Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? 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). The greater of the accumulated cash value or the total premium paid. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe 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. D.) By providing consumer credit counseling. C. Protects consumers with guidelines regarding creditreporting and distribution. a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . Whatdoes the word Level in level term describe? It is health insurance for the elderly. This illustration MUST disclose that. How to take legal action against an insurance company. A whole life policy option where extended term insurance is selected is called a(n). If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Jim recently sold his whole life insurance policy under a critical settlement contract. Which of the following basics is a producer's fiduciary responsibility? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ Which of the following is present when an applicant stands to lose value if the insured dies? Which of the following is considered a tax-deductible medical expenseunder this rule? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. 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. Unintentionally misrepresented a material fact on the application. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ what happened to amy bailey happy healthy humble . The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". B.Change must be initialed by the applicant. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. a producers secretary who solicits prospects on the telephone. A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting . What is involved when a life insurance policy has been backdated? Which of these is NOT a characteristic of the Accelerated Death Benefit option? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. 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. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. The producer decides not to respond. Making the policy effective on an earlier date than the present. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Whichtype of life insurance is normally associated with a payor benefit rider? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? When an applicant passes a licensing examination and answers all background questions negatively. How long is the Contestable Period for health insurance policies sold in Maryland? This agreement is called an, Upon receiving a producer complaint, the Commissioner may immediatley, ABC Insurance Company transfers part of their risk to XYZ Insurance Company. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. a)When the policy owner notifies the insurance company, c.)When the required additional premium is paid, d.) No more than 10 days after date of birth, The double indemnity provision in a life insurance policy pertains to an insured's death caused by a(n), A) the policy would be payable, minus the premium amount, B) the policy would be payable only after the beneficiary makes past due premium payment, C) all past premiums will be refunded with interest, An insurance producer agrees to pay the first monthly premium for an insurance applicant. Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. All Medicare Supplement policies MUST contain which provision? How much does Medicare Part B pay for physician fees? 5511. -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 In the event of a controversy between the insured and the company, the producer is considered to represent the, A life policy loan in Maryland cannot charge a fixed rate of interest higher than, The Food and Drug Administration approves prescription drugs for treatment as stated on the drug's labeling. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. 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. Afterwards, she deposits the check into her personal checking account. Because dividends are considered to be a return of premium. 1. 1. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? Whichof the following is Medicare Part B also known as? An annuitant is guaranteed to NOT outlive their benefits will a(n). The two plans are fee-for-service and. A. What happens when an insurance policy is backdated? The policy automatically converts to whole lifeafter the 10-year period, B. How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? On which date would Sonya have coverage? 1. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Life insurance policies will. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Changing from one occupation to another at the same general status is called _____. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? 1. James is the insured on a life insurance policy where his age was misstated on the application. Which situation accurately describes a reduced paid-up nonforfeiture option? The company did not retire any bonds or repurchase any of its own common stock during the year. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. How soon can the benefit payments begin with a deferred annuity? If she dies 15 years after the policy's inception date, how much will her beneficiary receive? visas, binomial trials. Their offer/administration. Which of the following is NOT required in an order from the Commissioner? The law that established insurance transactions regulated by the states is called. Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. Which type of disability would be less than total impairment and equal to permanent impairment? a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application Which of the following is the likely result? Which of the following is NOT considered to be an actof fraud? Over the course of a year, which premium payment mode is most expensive? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. by . Which of the following is NOT a circumstance to which a temporary producer license can be issued? Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? XZY company has applied for group health insurance for its employees. a producers secretary who solicits prospects on the telephone. As of January 1, 2014, small group health insurance can be rated on the basis of. 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? What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital? It would be considered taxable income to the employee. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? By Posted browning 725 pro sporting canada Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid, A producer who shares commissions with a client. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? It is administrated by the federal government, C. It is funded by federal, state, and local taxes. Fundingfor Medicare Part B is Partially provided by. A term life insurance policy is what most people think of when they think about life insurance. a producers secretary who solicits prospects on the telephone. Engaged in a fraudulent insurance practices. How often must an insurance producer's license in New Jersey be renewed? Both May and John are injured. 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 _____. What happens to coverage under a children's term rider when that child reaches a certain specified age? Financial report from the previous year. Providing claim payments to insureds under the guidelines of the insurance contract. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. Which of the following is TRUE regarding the federal income tax? Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? is one of the oldest and best known of all Barbadian funeral establishments. d. A covered employee if terminated for grossmisconduct. audio not yet available for this language. A producer is meeting with a client to determine whether an annuity would be suitable for purchase. A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. 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. 1. Submit to the replacing insurer a list of the policies to be replaced. _____ is NOT an element of valid contract, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value at the amount of, Past due premiums that have not been paid by the end of the grace period.