B.) The legal action provision in a health contract is limited to no more than ___ years. A term life insurance policy is what most people think of when they think about life insurance. 1. 1. When is an existing health insurance policy required to provide coverage for a new born child? Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. Mark continues working after the age of 65 and is covered through his employer's group health plan. What is the purpose of the Medical Information Bureau (MIB)? B. Recieve a tax credit to help offset the cost of health insurance. Which of the following actions by a producer would NOT result in a license suspension or revocation? by . Healthinsurance will typically cover which of the following perils? _____ 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. C) Unintentionally misrepresented a material fact on the application. 1. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? is one of the oldest and best known of all Barbadian funeral establishments. Assist in the underwriting of insurance policies. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. The two plans are fee-for-service and. What is this an example of? AMaryland insurance producer solicits an insurance policy. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. 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. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. 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. How much does Medicare Part B pay forphysician fees? Maria would like an annuity that provides a guaranteed accumulation or payout. In Maryland, a Producer may have his/her license revoked for which of the following acts? If an insured dies during the grace period with no premiums paid. An applicant's character and personal habits can be obtained for underwriting purposes from which source? Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. At what age does the open enrollment period typically begin for Medicare Supplement coverage? Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? What is the contract called that is issued to an employer for a Group Medical Insurance plan? In the event of employment termination, group insurance can be kept if the employee pays the premiums. In the event of employment termination, group health insurance can be kept if the employee pays the premiums, B. Recieve a tax credit to help offset the cost of health insurance, C. Remain of their current coverage for 30 months. In the advertising of Individual Life Insurance policies, an "introductory" or "special enrollment" may not be made available until any previous enrollment period for the same policy has been closed for at least how long? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? 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? Please sign in to share these flashcards. What does the Group Life underwriting risk selection process help protect insurance companies from? This rider is called a(n). A producer has recently died and leaves behind a spouse. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. 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. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. The standard grace period for a life insurance policy sold in Maryland is. Which of the following would be considered a "dependent child"? she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. 1. Under a Traditional IRA, Interest earned istaxed. XZY company has applied for group health insurance for its employees. 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 individual is paying premiums that are priced for each year or Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of instability. Fundingfor Medicare Part B is Partially provided by. All Medicare Supplement policies MUST contain which provision? A producer is meeting with a client to determine whether an annuity would be suitable for purchase. 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. What is the primary purpose of a rating service company such as A.M. Best? 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 course of action must be taken by the Commissioner? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. c. Travel accidental insurance premiums. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. How long is the Contestable Period for health insurance policies sold in New Jersey? A life insurance replacement gives the policyowner the right to return the policy for a 100% refund within _____ days of policy delivery, A producer MUST maintain insurance transaction records for a minimum of ____ years. All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. When initial premium is collected and policy is issued. 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? During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for$3,000 that had originally cost $6,000 and had accumulated depreciation of$4,000. 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? A beneficiary has just received a claim payment for a life insurance policy. Tim's individual life insurance policy has just recently lapsed. 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. An insurer formed according to the legal requirements of another country is called an. We understand that this must have been both very frustrating and disappointing. Whatis the primary reason for buying an annuity? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Whichof these will have the highest monthly payout upon annuitization? Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Which of the following is NOT a federal requirement of a qualified plan? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Who would most likely be coveredunder Workers Compensation? ARoth IRA owner must be a least what age in order to make tax-free withdrawals? She paid the premium on May 15 with the policy indicating the effective date being May 30. Which of the following is NOT a common exclusion for a medical expense policy? Find out how you can intelligently organize your Flashcards. Mary ran into John, another employee, who happened to be taking outthe garbage. Which of the following is the likely result? Financial report from the previous year. The taxable portion of each annuity payment is calculated using which method? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. What may be the result of replacing an existing life insurance policy with a new one? A closed network plan offers a primary physician copay of $25. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. All Medicare Supplement policies MUST contain which provision? What is created after policy proceeds areobtained in a lump sum and then immediately invested? No federal income tax is owed on life insurance proceeds, A non-contributory health insurance plan helps the insurer avoid, States that have "no loss no gain" laws require a replacing policy to, Pay for ongoing claims under the policy it replaces. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. An insurance company needs to obtain personal information from a third party concerning an applicant. On Social Security disability for over two years, D.Falling below the federal poverty level, D. Falling below the federal poverty level, Field underwriting performed by the producer involves, Completing the application and collecting initial premium, A provision that allows a policy owner to withdraw a policy's cash value interest free is a(n). who would be responsible for the prosecution of this crime? You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. The proceeds of this contract could be subject to the claims of, The Food and Drug Administrationapproved prescription drugs for treatment as stated on the drugs labeling. 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. Determine whether there are 0,1 , or 2 real solutions to f(x)=0. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. D. Willfullycollecting a premium that exceeds the amount of the actual premium. An individual can enroll in a Part C Medicare Advantage Plan at what time? B. Kathysannuity is currently experiencing tax-deferred growth until she retires. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. Howdoes one become eligible for part D: Prescription Drug Coverage? Producers must complete a total of ____ continuing education credits for each two-year licensing period. Whichof these will have the highest monthly payout upon Annuitization? Which of the following situations would be suitable for a temporary work authority? All of these are standard exclusions found in a life insurance policy EXCEPT. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ Her agent submitted the information to the insurance company on April 6. An agent is required to keep replacement forms on file for at LEAST _____ years, When a Medicare supplement policy is purchased during the open enrollment period, The policy must be issued regardless of health status, Have it's content approved by the Insurance Commissioner. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? 1. Which of the following would have the HIGHEST premium? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Jim recently sold his whole life insurance policy under a critical settlement contract. 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. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. 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. C. Normally graded over a period of 20 years. A producer may be disciplined by the Commissioner for which of the following actions? Introducing Cram Folders! An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. Which of the following is NOT a circumstance to which a temporary producer license can be issued? Her health policy most likely contains a(n). 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 B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Which of the following statements is TRUE? Which of the following is CORRECT regarding the death benefit amount. 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. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Which of the following is the likely result? May 2020. 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). Which type of life insurance policy is this? How many days notice must the Commissioner give prior to a hearing? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. Which of the following statements is TRUE about Medicaid? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? 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? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? 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. Which scenario would most life insurance policies exclude coverage for? How often must an insurance producer's license in Maryland be renewed? A. How long after its effective date will an individual life insurance policy become incontestable? 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. Which of the following is a reinstatement condition? The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. June 24, 2022 . Which of the following topics needs to be discussed with this client? In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Tarathe producer is delivering a specified disease insurance policy to a new policyowner. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. 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. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ How much does Medicare Part B pay for physician fees? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Tara the producer is delivering a specified disease insurance policy to a new policyowner. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? B. Which of these if NOT considered to be a purpose of an annuity? To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. pain between 4th and 5th metatarsal. 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. The ________ has the right to renew a small employer health plan. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Whowere Keogh Plans designed to provide pension benefits for? Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. This change is called a(n). Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? In what form do disability income policies typically pay benefits? 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). A. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Whichof these benefit options would he choose? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? Pierre the producer receives a premium for an individual health insurance policy. A doctor who accepts Medicare Assignment agrees to which of the following? A. Producing an inadequate amount of new premium. At the request of the insurer to assist in the underwriting decision. 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. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. Determine whether the discriminant is positive, negative, or zero. Which of these is NOT a characteristic of the Accelerated Death Benefit option? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? Both partners are still married at the time of Bob's death. An insurer may pay a commission in which of the following scenarios? D.) By providing consumer credit counseling. Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. 1. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. With a past due premium of $100, the insurer pays $400. 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. d. A covered employee if terminated for grossmisconduct. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Advertising material for a life insurance policy does NOT need to contain which of the following? 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. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? In the event of the employment termination, group health insurance can be kept if the EMPLOYEE pays the premiums, A health insurer must be provided with written proof of loss _____ days after the date of loss, A producer must notify the Commissioner within _____ days of a felony conviction. Which of these will typically authorize treatment from a specialist? Whatdoes the word Level in level term describe? If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Pierre MUST remit the premium to his insurer within ___ business days of receipt. June 24, 2022 . Providing claim payments to insureds under the guidelines of the insurance contract. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| A. One of. 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. 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. The producer decides not to respond. Write a sentence explaining its significance to the executive branch. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. This type of agreement is called an. Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. a producers secretary who solicits prospects on the telephone. \end{array} d. Individual disability income insurance premiums. Which of the following is an example of fraud? For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) Which of the following is NOT required in an order from the Commissioner? 1. 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. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? 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. What is issued to each employee of an employerhealth plan? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. An individual the means to replace wages. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard.
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