Maria has committed what crime? Which option was chosen? 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. Which of the following basics is a producer's fiduciary responsibility? One of. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. Which of the following statements is TRUE? The face amount and the premium will remain constant over the 10-year period. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. 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. 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. D. The face amount and premiumwill remain constant over the 10-year period. Whichof these will have the highest monthly payout upon Annuitization? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Registered for the state insurance examination. The right-to-examine period in Maryland for long-Term Care polices is ___ days. Which of these describes the change that will take place?A) Coordination of benefitsB) ConversionC) Extension of benefitsD) Rollover, Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.A) policyB) certificateC) applicationD) rider. What does the word "level" in Level Term describe? Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. 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. Howsoon can the benefit payments begin with a deferred annuity? Whichof these will have the highest monthly payout upon annuitization? Which of the following is required for an insurer to conduct business in this state? Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. B. Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) Healthinsurance will typically cover which of the following perils? 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. a producers secretary who solicits prospects on the telephone. Juni 2022. How long is her grace period? A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ Its balance sheet for this year is as follows: EndingBeginningBalanceBalanceCashandcashequivalents$48,000$57,000Accountsreceivable41,00044,000Inventory55,00050,000Totalcurrentassets144,000151,000Property,plant,andequipment150,000140,000Lessaccumulateddepreciation50,00035,000Netproperty,plant,andequipment100,000105,000Totalassets$244,000$256,000Accountspayable$32,000$57,000Incometaxespayable25,00028,000Bondspayable60,00050,000Commonstock70,00060,000Ratainedearnings57,00061,000Totalliabilitiesandstockholdersequity$244,000$256,000\begin{array}{l c c} 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. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. What happens to interest earned if the annuitant dies before the payout start date? 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. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. How many months can a life insurance policy normally be backdated from the date of application? June 5, 2022 . On which date would Sonya have coverage? \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ HIPPA considers which of the following as "individually identifiable health information"? To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? To be classified as a small employer, an employer must NOT have more than _________ eligible employees, The _______ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant, During the examination of an insurer's books and records by the Commissioner, the insurer, remain in effect until a new one is issued, John the insurance producer has an insurance license that expires in 6 months. 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. \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ What are the levels of coverage as defined by the Affordable Care Act? ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Which of the following is NOT a duty of the Commissioner? Collecting a chargefor insurance that is less than the charge applicable to that insurance. Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? a. Mustmeet certain underwriting guidelines. a producer's secretary who solicits prospects on the telephone. Ahealth care provider claim may be settled using which of the following paymentmethods? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. B.Change must be initialed by the applicant. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? 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. 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. The death benefit paid will be what the premium would have purchased at the correct age. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ The law that established insurance transactions regulated by the states is called. This illustration MUST disclose that. Her health policy most likely contains a(n). Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. D.) By providing consumer credit counseling. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? \\ By Posted browning 725 pro sporting canada All of these are standard exclusions found in a life insurance policy EXCEPT. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Duringthe accumulation period, who can surrender an annuity? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? Which disability policy provision would address any concerns of the value of the benefits decreasing over time? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. Which of the following is NOT considered to be an actof fraud? C.) Unintentionally misrepresented a material fact on the application. B. Gainsare tax exempt at distribution. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. 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. who would be responsible for the prosecution of this crime? 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. 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. An attending physician's statement would be appropriate for which life insurance purpose? 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. licensed producers not appointed by an insurer. In order for the producer's insurance business to continue, the Commissioner may issue to the producer's spouse a has a mental or physical handicap and remains dependent on the parent A dependent child may remain on a parent's health insurance plan beyond age 26 if the child 60 The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. The company did not retire any bonds or repurchase any of its own common stock during the year. Introducing Cram Folders! Which of the following is NOT a qualification to be licensed as a producer? Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? Unit 4 Assign Rubric Impact of Colonial Experience (2).pdf, 0B1FC21B-547A-410E-8D8F-64E2A8C35084.jpeg, My Path Assessment Editor _ WorldQuant University.pdf, Oral liquid 50 microgramsml Tablet 625 micrograms 250 micrograms epinephrine, spirit its source is what constitutes religion This can be traced to the, Write in a brief description for the bubbles with underlined words 2 Choose a, BUS 1021 Organizational Behavior (OB) Consulting Assignment.edited11.docx, lOMoARcPSD11771818 True or False The above plot shows clear evidence that the, 2 Non tariff barriers which are further classified into two categories a, CTS115 - Chapter 5 - Case Study - Denial of Service -Moss.docx, The fallacy described as a red herring is most similar to a False cause b, Copy of Algebra Unit 2, Concepts 1, 2, 3.pdf, The model is used to describe the interaction of external forces that affect an, EVM Presentation - Project Management .pptx, What is the shape usually used to refer to the curve that illustrates. B. Whenthe application is collected and policy is issued, C. Whenthe application is completed and signed, D. Whenthe completed application is signed and initial premium is collected. May an insurance producer licensed in New Jersey but not in New York sell a life insurance policy to a New York resident while in New Jersey? Why are dividends from a mutual insurer not subject to taxation? Which of the following is true concerning the proceeds of a life insurance policy? Fundingfor Medicare Part B is Partially provided by. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. What is the contract called that is issued to an employer for a Group Medical Insurance plan? An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. Which of the following does Medicare Part D cover? Temporarily Deposit the funds in a personal account. Which of the following is NOT a common exclusion for a medical expense policy? At what age can she begin to receive distributions without a tax penalty? 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. Which of the following is a reinstatement condition? a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . Pierre MUST remit the premium to his insurer within ___ business days of receipt. a producers secretary who solicits prospects on the telephone. 5511. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Financial report from the previous year. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Which of the following is Medicare Part B also known as? Which of these will typically authorize treatment from a specialist? June 24, 2022 . B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. What will the beneficiary receive if an annuitant dies during the accumulation period? New Jersey insurance law requires eligible individuals to make an election to continue health insurance benefits within a MAXIMUM of _____ days after coverage termination, A _____ insurance company is one that was formed under the laws of a state other than New Jersey, All of the following are typically included in a life insurance policy illustration EXCEPT, Claims payable to a Disability Income insured, even when the insured can continue to work, are the result of a. XYZ Corp pays the tax-deductible insurance premiums for a key employee disability policy. 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. Add to folder juin 5, 2022 . This type of agreement is called an. We'll bring you back here when you are done. A separate converted policy may, at the option of the insurance company, be issued to cover an. 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. The policies continue in force with no change. 14 day waiting period / 10 year benefit period. 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. A closed network plan offers a primary physician copay of $25. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. Which of the following is NOT a requirement for soliciting insurance in Maryland? a producers secretary who solicits prospects on the telephone. Which military service exclusion clause would pay upon his death? How long is the Contestable period for health insurance policies sold in Maryland? The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. A beneficiary has just received a claim payment for a life insurance policy. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. June 24, 2022 . 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. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. How often must an insurance producer's license in New Jersey be renewed? Who is the individual paid on a fee-for-service basis? Which rider would pay a monthly amount because of this disability? Benefits for a Medicare Supplement policy. A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT, An insurance consultant is BEST defines as a. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. If an insured dies during the grace period with no premiums paid. Who regulates the quality care provided by a health maintenance organization (HMO)? When does a life insurance policy typically become effective? In what form do disability income policies typically pay benefits? Which of the following is TRUE regarding the federal income tax? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. Engaged in a fraudulent insurance practices. 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? B. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. Which of the following is NOT part of an insurance contract? Whowere Keogh Plans designed to provide pension benefits for? . Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. Pay for Medicare charges exceeding the approvedamount. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. This rider is called a(n). 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. Which of the following would be the appropriate tax consequence? Which of the following is Medicare Part B also known as? The greater of the accumulated cash value or the total premium paid. 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. 1. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Kathysannuity is currently experiencing tax-deferred growth until she retires. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. 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). Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). Which of the following is the likely result? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Making the policy effective on an earlier date than the present. An individual can enroll in a Part C Medicare Advantage Plan at what time? D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. Which situation accurately describes a reduced paid-up nonforfeiture option? \\ Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? Producing an inadequate amount of new premium. Her agent submitted the information to the insurance company on April 6. 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. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Which of the following is an example of defamation? Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? 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. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. The two plans are fee-for-service and. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ D. Administered by the federal government. Which of the following must be included in the advertisement? 1. Which type of contract may NOT be issued by an insurance company? Pierre the producer receives a premium for an individual health insurance policy. {"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"}}. A master contract and certificate of coverage can be found in which type of policy? A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists. A debtor may receive Credit Life insurance in which of the following forms? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. A life policy loan in Maryland cannot charge a fixed rate of interest higher than: A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting, d.) Is not required to be licensed as a producer. 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. As of January 1, 2014, small group health insurance can be rated on the basis of. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. Which of these statements is true? As beneficiary, he will pay ____ taxes on any money withdrawn. There are several types of whole life insurance that are as follow:- What is the required action to be taken by a Maryland licensee before operating under an assumed business name? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ 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. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. PartA Hospital expense coverage provided under Medicare is automatically madeavailable to each of the following EXCEPT, A. A50-year-old individual who has qualified for SSDI in the last 24 months, B. A70-year-old NOT Eligible for Social Security, C. A55-year-old suffering from kidney failure. 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. With a past due premium of $100, the insurer pays $400. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. 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. Whichphase is this annuity in? a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. Which of these is likely to occur when life or health insurance is being applied for? Mary ran into John, another employee, who happened to be taking outthe garbage. Sonya applied for a health insurance policy on April 1. What is this an example of? What is issued to each employee of an employerhealth plan? AMaryland insurance producer solicits an insurance policy. What is the purpose of the Medical Information Bureau (MIB)? Who would be responsible for the prosecution of this crime? a. A doctor who accepts Medicare Assignment agrees to which of the following?
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