a producers secretary who solicits prospects on the telephone 12. A producer may begin to solicit insurance ONLY. Whoassumes the investment risk with a fixed annuity contract? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? B.Canceling a term life policy to buy a whole life policy. 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. Whatdoes the word Level in level term describe? The death benefit paid will be what the premium would have purchased at the correct age. 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. 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). Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. Which of the following is CORRECT regarding the death benefit amount. An individual who has a hobby racing cars once a month. A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting . 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. In event of acontroversy between the insured and the company, the producer is considered to representthe. a producers secretary who solicits prospects on the telephone. Whichof these benefit options would he choose? This agreement is called an, Upon receiving a producer complaint, the Commissioner may immediatley, ABC Insurance Company transfers part of their risk to XYZ Insurance Company. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Which market index is associated with an indexed annuity's rate of return? 1. Who would most likely be coveredunder Workers Compensation? June 5, 2022 . Which of the following is NOT considered to be an act of fraud? 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). At what age does the open enrollment period typically begin for Medicare Supplement coverage? How many months can a life insurance policy normally be backdated from the date of application? How many days notice must the Commissioner give prior to a hearing? D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. C.) Unintentionally misrepresented a material fact on the application. The policies continue in force with no change. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? When does a life insurance policy typically become effective? A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. As beneficiary, he will pay__taxeson any money withdrawn. Afterwards, she deposits the check into her personal checking account. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Johan the producer charged a fee to a sales prospect for analyzing insurance coverages A written statement describing the elements of a policy is called, All of the following are considered appropriate uses of life insurance for business purposes EXCEPT, Protecting the business by covering entry level employees with life insurance, An insured individual and the policy's beneficiary die from the same accident. When are group disability benefits considered to be tax-free to the insured? Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ 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. Which of the following actions by a producer would NOT result in a license suspension or revocation? Which of the following is NOT a required provision in an accident and health insurance policy? Pierre MUST remit the premium to his insurer within ___ business days of receipt. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? HIPPA considers which of the following as "individually identifiable health information"? All Medicare Supplement policies MUST contain which provision? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Who is the individual paid on a fee-for-service basis? An insurer formed according to the legal requirements of another country is called an. 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. An annuitant is guaranteed to NOT outlive their benefits will a(n). In the event of employment termination, group insurance can be kept if the employee pays the premiums. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Howdo interest earnings accumulate in a deferred annuity? Add to folder The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". What does the word "level" in Level Term describe? 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? Advertising material for a life insurance policy does NOT need to contain which of the following? A. Collectinga premium for insurance that is not provided. belmont funeral home obituaries barbados who would be responsible for the prosecution of this crime? XZY company has applied for group health insurance for its employees. Introducing Cram Folders! B.Change must be initialed by the applicant. Find out how you can intelligently organize your Flashcards. Which of the following is NOT required in an order from the Commissioner? A. Which of these will typically authorize treatment from a specialist? \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Maria the agent would like to advertise an annuity product on a highway billboard. Which of the following statements is TRUE about Medicaid? Which of these is likely to occur when life or health insurance is being applied for? How long is the Contestable Period for health insurance policies sold in New Jersey? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ C. Protects consumers with guidelines regarding creditreporting and distribution. Hill during her initial calls made to the call center. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Which of the following is an example of fraud? Maria has committed what crime? Both partners are still married at the time of Bob's death. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Whatis the primary reason for buying an annuity? Allof these are considered key factor in underwriting life insurance EXCEPT, Anapplicant intentionally lying to an insurance company on an application inorder to obtain a cheaper premium is an example of. June 24, 2022 . Which type of life insurance policy is this? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. 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. 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. Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? B. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? How long is the Contestable Period for health insurance policies sold in Maryland? If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? 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. Whichphase is this annuity in? 1. An insurance producer is issued a _____ as evidence of authority. Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. A. 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? Which of the following basics is a producer's fiduciary responsibility? A master contract and certificate of coverage can be found in which type of policy? James is the insured on a life insurance policy where his age was misstated on the application. & \text{Ending}& \text{Beginning} & \\ Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? 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} This change is called a(n). . A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Which of the following is the likely result? What happens when an insurance policy is backdated? The Commissioner issues a subpoena to a producer. a producers secretary who solicits prospects on the telephone Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. The ________ has the right to renew a small employer health plan. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Afterwards, she deposits the check into her personal account. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Former dependent of employee no longer ofdependent status. 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. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. June 24, 2022 . How often must an insurance producer's license in Maryland be renewed? Which of the following is Medicare Part B also known as? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? An attending physician's statement would be appropriate for which life insurance purpose? 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. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Who would be responsible for the prosecution of this crime? Which of these is NOT an Unfair Claims Settlement Practice? How long is her grace period? In what part of insurance policy benefits found? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. c. Travel accidental insurance premiums. juin 5, 2022 . \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ 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 NOT a circumstance to which a temporary producer license can be issued? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ b. Pat the client interest on any monies held. Kathy pays a monthly premium on her health insurance policy. Which entity is responsible for processing insurance advertising in New Jersey? Benefits for a Medicare Supplement policy. Mikehas inherited his fathers traditional IRA. D. Administered by the federal government. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Tara the producer is delivering a specified disease insurance policy to a new policyowner. 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. Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? What is this an example of? How much does Medicare Part B pay for physician fees? Which of thesestatements is true? The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. D.) Intentionally violated state insurance laws. A. C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. EXECUTIVE SUMMARY. B. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? Which of the following is NOT information found in a life insurance buyer's guide? D. The face amount and premiumwill remain constant over the 10-year period. The face amount and the premium will remain constant over the 10-year period. 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. 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 How many employees must an employer have for a terminated employee to be eligible for COBRA? Collecting a chargefor insurance that is less than the charge applicable to that insurance. B.) National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org Our Future You series provides a range of topical advice and guidance via webinars and podcasts. a. Which of the following is the likely result? (p^1p^2). A newborn is required to be covered for ______ days from the moment of birth. 1. Under a Traditional IRA, Interest earned istaxed. yabombay Flashcards | Quizlet 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. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Which type of contract may NOT be issued by an insurance company? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). a producers secretary who solicits prospects on the telephone Which of the following does Medicare Part D cover? 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. 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). What is the purpose of the Medical Information Bureau (MIB)? Re: Acting as insurance producer without a license Questions Presented 1. B. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. Frank is shopping for a disability income policy. Which of these is affected by the frequency of an insurance policy's premium payments? by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. It is health insurance for the elderly. a producer's secretary who solicits prospects on the telephone. D. Willfullycollecting a premium that exceeds the amount of the actual premium. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? Which of the following is NOT a federal requirement of a qualified plan? 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 type of disability would be less than total impairment and equal to permanent impairment? Her agent submitted the information to the insurance company on April 6. What happens to the coverage under a children's term rider when that child reaches a certain specified age? What is issued to each employee of an employerhealth plan? Producing an inadequate amount of new premium. Which of the following is NOT part of an insurance contract? Which of the following is NOT a requirement for soliciting insurance in Maryland? Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. {"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"}}. All of these are standard exclusions found in a life insurance policy EXCEPT. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Final Exam - New Jersey Life and Health Flashcards | Quizlet a producers secretary who solicits prospects on the telephone What happens to interest earned if the annuitant dies before the payout start date? The standard grace period for a life insurance policy sold in Maryland is. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| The Healthcare Insurance Exchange offers plans for everyone. Which of the following does Coordination of Benefits allow? Which scenario would most life insurance policies exclude coverage for? 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. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. 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 Shirley has a $500,000 10-year non-renewable level term life policy. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? What is the purpose of a disability income benefit? Vaginal plastic surgery is made up of two main procedures, external and . Which of the following is the likely result? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. 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. 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. Which of the following is present when an applicant stands to lose value if the insured dies? A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. The producer decides not to respond. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Course Hero is not sponsored or endorsed by any college or university. Which of the following is a reinstatement condition? Registered for the state insurance examination. 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. 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. She may reinstate her policy within _____ years. With a past due premium of $100, the insurer pays $400. Producers must complete a total of ____ continuing education credits for each two-year licensing period. Which of these is NOT considered to be a risk factor in life insurance underwriting? Which of the following is an example of defamation? Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? We weren't able to detect the audio language on your flashcards. At the request of the insurer to assist in the underwriting decision. A. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. An individual the means to replace wages. Over the course of a year, which premium payment mode is most expensive? a producers secretary who solicits prospects on the telephone. Write a sentence explaining its significance to the executive branch. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ What are the levels of coverage as defined by the Affordable Care Act? A life insurance policy is hallowed ___ days upon policy delivery to return the policy for a full premium refund.. An order issued by the commissioner that prohibits a specific practice listed in the order is called a (n). ABC Corporation has a group life insurance policy that covers its employees and their dependent children.