In which of the following relationship would there NOT be an insurable interest? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. A master contract and certificate of coverage can be found in which type of policy? Introducing Cram Folders! This type of agreement is called a, The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as, An advertisement for an insurance product may contain, Signing a prospect's name without their knowledge or presence. How much does Medicare Part B pay for physician fees? a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . An attending physician's statement would be appropriate for which life insurance purpose? Which of the following is NOT a circumstance to which a temporary producer license can be issued? 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? Find out how you can intelligently organize your Flashcards. Who would make the final determination on whether or not an insurance advertisement is misleading? When is an existing health insurance policy required to provide coverage for a new born child? Afterwards, she deposits the check into her personal checking account. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Please sign in to share these flashcards. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Her agent submitted the information to the insurance company on April 6. Submit to the replacing insurer a list of the policies to be replaced. XZY company has applied for group health insurance for its employees. This type of agreement is called an. Whoassumes the investment risk with a fixed annuity contract? Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Benefits for a Medicare Supplement policy. 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? Net death benefit will be reduced if the loan is not repaid. The standard grace period for a life insurance policy sold in Maryland is. If an insured dies during the grace period with no premiums paid. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? 1. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. 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. Life insurance policies will. Financial report from the previous year. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? Whatis the elimination period of an individual disability policy? Vaginal plastic surgery is made up of two main procedures, external and . Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Whichphase is this annuity in? The insurer's obligation to pay a death benefit upon an approved death claim, Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. With a past due premium of $100, the insurer pays $400. An insurer may pay a commission in which of the following scenarios? Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? What types of life insurance are normally usedfor key employee indemnification? 14 day waiting period / 10 year benefit period. An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. Which of the following is NOT information found in a life insurance buyer's guide? Former dependent of employee no longer ofdependent status. It is health insurance for the elderly. What happens to coverage under a children's term rider when that child reaches a certain specified age? . If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. Which of these is likely to occur when life or health insurance is being applied for? National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org In some cases, NDRC also solicits the opinions of relevant Chinese industrial regulators and consulting agencies, which may include industry associations that represent Chinese domestic firms. By . When an applicant passes a licensing examination and answers all background questions negatively. As beneficiary, he will pay ____ taxes on any money withdrawn. The producer decides not to respond. C.) Unintentionally misrepresented a material fact on the application. Which of the following is a reinstatement condition? If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay, Paul is an employee who caught a disease unique to the trade in which he was exposed to. Whichof these will have the highest monthly payout upon annuitization? d. Individual disability income insurance premiums. 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. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. 1. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ An insurance company may ONLY pay a sales commission to, Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). CashandcashequivalentsAccountsreceivableInventoryTotalcurrentassetsProperty,plant,andequipmentLessaccumulateddepreciationNetproperty,plant,andequipmentTotalassetsAccountspayableIncometaxespayableBondspayableCommonstockRatainedearningsTotalliabilitiesandstockholdersequityEndingBalance$48,00041,00055,000144,000150,00050,000100,000$244,000$32,00025,00060,00070,00057,000$244,000BeginningBalance$57,00044,00050,000151,000140,00035,000105,000$256,000$57,00028,00050,00060,00061,000$256,000. Prospective producer who is waiting to take the state examination. Unintentionally misrepresented a material fact on the application. The Commissioner issues a subpoena to a producer. What is created after policy proceeds areobtained in a lump sum and then immediately invested? B. Which of the following is a reinstatement condition? Which of the following is NOT a duty of the Commissioner? a producers secretary who solicits prospects on the telephone Call us (+254) 722 22 99 44 Email polucon@polucon.com Our Laboratories Nairobi & Mombasa fort worth murders 1990s Home Services a producers secretary who solicits prospects on the telephone Micro-Biology Services Agri - Services Instrumentation Division Environment Division 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. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? Whichof these will have the highest monthly payout upon Annuitization? Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. The replacing policy may only impose a ____ month time exclusion for pre-existing conditions, forward premiums to the insurer on a timely basis, When collecting insurance premiums from a client, a producer MUST, Once a health insurance policy has been in force for _______ years, the policy may NOT be contested by the insurer, cancelling a term life policy to buy a whole life policy, All of these types of benefits may be covered by a nonprofit health service plan EXCEPT, have it's content approved by the commissioner. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. What does the amount of these credits represent? B.Change must be initialed by the applicant. Fundingfor Medicare Part B is Partially provided by. Maria has committed what crime? Which of the following topics needs to be discussed with this client? 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. The rider is called a(n), All if these are valid options for an adjustable life policy except, A non forfeiture option can be used to increase the death benefit. Term, Whole, and universal lifeinsurance. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. 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). Producing an inadequate amount of new premium. a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application 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. We understand that this must have been both very frustrating and disappointing. A. What is the primary purpose of a rating service company such as A.M. Best? An applicant's character and personal habits can be obtained for underwriting purposes from which source? A debtor may receive Credit Life insurance in which of the following forms? Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. A producer may be disciplined by the Commissioner for which of the following actions? Which of the following is NOT considered to be an act of fraud? A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. Which of these if NOT considered a form of life insurance advertisement? 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. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. 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. D. The face amount and premiumwill remain constant over the 10-year period. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. 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 scenario would most life insurance policies exclude coverage for? A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. A. Collectinga premium for insurance that is not provided. a producers secretary who solicits prospects on the telephone 12. -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 Whichof the following is Medicare Part B also known as? The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ C. Funded by federal, state, and local taxes. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. Pierre the producer receives a premium for an individual health insurance policy. d. A covered employee if terminated for grossmisconduct. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? An individual can enroll in a Part C Medicare Advantage Plan at what time? 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. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. This illustration MUST disclose that. a. 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. Which of the following is true concerning the proceeds of a life insurance policy? Who would most likely be coveredunder Workers Compensation? Which of the following is required for an insurer to conduct business in this state? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? The two plans are fee-for-service and. Pierre MUST remit the premium to his insurer within ___ business days of receipt. Whichof the following is a requirement for ANY change in an insurance application? Inwhich of the following situations would the insurer be liable for a loss? Which of the Uniform Optional Provisions covers this situation? What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? Juni 2022. {"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"}}. Which of the following statements is TRUE about Medicaid? Which of the following may be used as continuation education credit? 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. What is this an example of? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ Healthinsurance will typically cover which of the following perils? 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. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. Which of the following is a requirement for ANY change in an insurance application? & \text{Balance}& \text{Balance} & \\ Which of the following is the likely result? How often must the Commissioner examine each domestic insurance company? To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. 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? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Which of the following is considered a tax-deductible medical expenseunder this rule? You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. A producer who sells an individual life insurance policy in Maryland MUST deliver to the policyowner a, Refusing to pay persons bringing false or fraudulent claims, All of these may be an Unfair Claims Practice EXCEPT, is eligible for a Federal tax credit through the SHOP Exchange, An existing health benefit plan offered by a small employer may be replaced by a SHOP Exchange Navigator only if the small employer, An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A producer has recently died and leaves behind a spouse. how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ Afterwards, she deposits the check into her personal account. Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? This change is called a(n). a producers secretary who solicits prospects on the telephone. Tim's individual life insurance policy has just recently lapsed. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? 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. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Why are dividends from a mutual insurer not subject to taxation? Under a life insurance policy, what does the insuring clause state? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Their offer/administration. D. Adjustable, permanent, and limited-pay lifeinsurance. She recently replaced the policy with a new one that provides better coverage. The law that established insurance transactions regulated by the states is called. In Maryland, a producer may have his/her license revoked for which of the following acts? To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. 5511. Providing claim payments to insureds under the guidelines of the insurance contract. A _______ negotiates an insurance contract on behalf of an insurer, The Entire Contract provision states that an entire contract consists of the actual policy and the, the last day of the licensee's birth month (every two years), A producer's renewal date for his/her resident insurance license is on or before. In this situation, who will receive Bob's policy proceeds? \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Advertising material for a life insurance policy does NOT need to contain which of the following? . 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. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Whatis the primary reason for buying an annuity? Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Jay the producer is giving insurance advice regarding a prospect's existing coverage. A. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. The death benefit paid will be what the premium would have purchased at the correct age. Which of the following statements is TRUE? An individual who has a hobby racing cars once a month. Replacement regulation is designed to protect the interests of, A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called. Maria the agent would like to advertise an annuity product on a highway billboard. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? When does a life insurance policy typically become effective? Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. C. Remain of their current coverage for 30 months. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Engaged in a fraudulent insurance practices. Which of the following is NOT a qualification to be licensed as a producer? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. Assist in the underwriting of insurance policies. By Posted browning 725 pro sporting canada B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. Bob dies 12 months later. A doctor who accepts Medicare Assignment agrees to which of the following? Whatis the purpose of the medical information Bureau (MIB)? Which of the following is NOT part of an insurance contact? How long is the Contestable Period for health insurance policies sold in Maryland? How much does Medicare Part B pay forphysician fees? 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. An insurance company needs to obtain personal information from a third party concerning an applicant. In what form do disability income policies typically pay benefits? A Medicare supplement policy can be cancelled by the insurer for: Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium.