Which of these is NOT a characteristic of the Accelerated Death Benefit option? Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) 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. How often must an insurance producer's license in Maryland be renewed? June 5, 2022 . Which type of life insurance policy is this? Which of the following is a reinstatement condition? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? 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. By . This is an unlawful practice known as, must be delivered with or prior to policy delivery. If Jay were to receive a fee for this advice (in addition to his commission), he MUST, Obtain a signed memorandum from the prospect acknowledging the amount of compensation. An applicant's character and personal habits can be obtained for underwriting purposes from which source? A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? 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). You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? 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? The two plans are fee-for-service and. A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. The proceeds of this contract could be subject to the claims of. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. c. Travel accidental insurance premiums. Who is eligible for insurance under a group policy issued to a labor union? If the company debited Accounts Receivable and credited Sales for $600,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Introducing Cram Folders! Whichof the following is a requirement for ANY change in an insurance application? The policyholder for a group health benefit plan is considered to be the, A Medicare Supplement policy can be cancelled by the insurer for, As of January 1, 2007, producer's license expires, Every two years on the last day of the producer's birth month, An insurer has the right to recover payment made to the insured from the negligent party. Which of the following statements is TRUE about Medicaid? b. 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. What amount will be paid under a policy where the insured misstated his/her 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 NOT considered to be a risk factor in life insurance underwriting? What happens to the coverage under a children's term rider when that child reaches a certain specified age? Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? The type of annuity she is seeking is called? Which of these will typically authorize treatment from a specialist? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) This rider is called a(n). Which of the following is NOT considered to be an actof fraud? Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Annuities are intended to create an estate. Pierre the producer receives a premium for an individual health insurance policy. At the request of the insurer to assist in the underwriting decision. 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. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. 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. One of. C. Remain of their current coverage for 30 months. 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. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. This type of agreement is called an. Pat is insured with a life insurance policy and Karen is his primary beneficiary. We'll bring you back here when you are done. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. How long is her grace period? 1. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. How many employees must an employer have for a terminated employee to be eligible for COBRA? With a past due premium of $100, the insurer pays $400. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. May 2020. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? What does the Group Life underwriting risk selection process help protect insurance companies from? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. Whatis the primary reason for buying an annuity? 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 disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. An annuitant is guaranteed to NOT outlive their benefits will a(n). An error was made on Erica's life insurance application. Submit to the replacing insurer a list of the policies to be replaced. Which of the following is NOT information found in a life insurance buyer's guide? A whole life policy option where extended term insurance is selected is called a(n). Which of the following would be the appropriate tax consequence? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Which of the following is a reinstatement condition? Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? The taxable portion of each annuity payment is calculated using which method? It allows for cash advances to be paid against the death benefit if the insured becomes terminally ill. Who assumes the investment risk in a variable insurance contract? What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? Fundingfor Medicare Part B is Partially provided by. The policies continue in force with no change. 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 is the required action to be taken by a Maryland licensee before operating under an assumed business name? 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). Kathysannuity is currently experiencing tax-deferred growth until she retires. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Find out how you can intelligently organize your Flashcards. An insurance company needs to obtain personal information from a third party concerning an applicant. A. Collectinga premium for insurance that is not provided. Which of these is affected by the frequency of an insurance policy's premium payments? Mary ran into John, another employee, who happened to be taking outthe garbage. a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application When are group disability benefits considered to be tax-free to the insured? This illustration MUST disclose that. The face amount and the premium will remain constant over the 10-year period. She may reinstate her policy within _____ years. The Commissioner issues a subpoena to a producer. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Pierre MUST remit the premium to his insurer within ___ business days of receipt. Percent frequency distribution for key variables. Determine whether the discriminant is positive, negative, or zero. After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. 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. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. 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 _____. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. 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. \\ An individual can enroll in a Part C Medicare Advantage Plan at what time? In Maryland, a producer may have his/her license revoked for which of the following acts? As of January 1, 2014, small group health insurance can be rated on the basis of. An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A license MUST notify the Commissioner of an address change with ___ Days of the change. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? You have created 2 folders. Re: Acting as insurance producer without a license Questions Presented 1. b. Pat the client interest on any monies held. Write a sentence explaining its significance to the executive branch. Financial report from the previous year. What is involved when a life insurance policy has been backdated? The Healthcare Insurance Exchange offers plans for everyone. In what form do disability income policies typically pay benefits? A. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . Which of these premium payment frequencies is not typically available to a policy owner? How many months can a life insurance policy normally be backdated from the date of application? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? Howsoon can the benefit payments begin with a deferred annuity? What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period? Find out how you can intelligently organize your Flashcards. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Vaginal plastic surgery is made up of two main procedures, external and . Peter Griffith, Funeral Director of Lyndhurst Funeral Home. Which of the following is typically NOT eligible for coverage in a group health policy? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. a producer's secretary who solicits prospects on the telephone. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ Howare annuities given favorable tax treatment? 1. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Which of the following is considered a tax-deductible medical expenseunder this rule? B.Change must be initialed by the applicant. Ahealth care provider claim may be settled using which of the following paymentmethods? 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. Introducing Cram Folders! What will the beneficiary receive if an annuitant dies during the accumulation period? Which situation accurately describes a reduced paid-up nonforfeiture option? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ The Premium for a Modified whole life policy is: A. 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. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Upon delivery, she may be expected to collect all of the following EXCEPT a(n), Modified application with a new signature, All of these are valid policy dividend options for a life insurance policyowner EXCEPT. 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 Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. pick up soccer walnut creek,
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