A _______ company is owned by its shareholders, The ___________ has the right to renew a small employer health plan, providing incorrect, misleading, incomplete, or materially untrue information in the license application, A producer who is licensed in Maryland but resident in another state is called a, A minor may receive a life insurance policy's death benefit ONLY, Interest on death benefits are NOT required to be paid by an insurance company as long as proceeds are paid within ______ after the date of the death of the insured, Submit to the replacing insurer a list of the policies to be replaced. How soon can the benefit payments begin with a deferred annuity? What is the contract called that is issued to an employer for a Group Medical Insurance plan? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. 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. 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. C. Normally graded over a period of 20 years. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? 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? Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? 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 In the event of employment termination, group health insurance can be kept if the employee pays the premiums. Which of these will typically authorize treatment from a specialist? pain between 4th and 5th metatarsal. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Who is required to notify the producer in the event of appointment termination? In the event of employment termination, group insurance can be kept if the employee pays the premiums. 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. Which of the following actions by a producer would NOT result in a license suspension or revocation? Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? June 5, 2022 . Benefits for a Medicare Supplement policy. Duringthe accumulation period, who can surrender an annuity? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? What would be an expense factor in a insurance program? One of. On which date would Sonya have coverage? Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Using derogatory statements about an insurance company's financial condition. Howsoon can the benefit payments begin with a deferred annuity? by geriford27, A. Juni 2022. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. Adoctor who accepts Medicare Assignment agree to which of the following ? A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. 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. Which of the following is the likely result? 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. 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. Which entity is responsible for processing insurance advertising in New Jersey? 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. Changing from one occupation to another at the same general status is called _____. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. Mikehas inherited his fathers traditional IRA. Which of the following is true concerning the proceeds of a life insurance policy? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. In which of the following relationship would there NOT be an insurable interest? Maria the agent would like to advertise an annuity product on a highway billboard. D.) By providing consumer credit counseling. is one of the oldest and best known of all Barbadian funeral establishments. A producer may be disciplined by the Commissioner for which of the following actions? A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. Within how many days must a producerreport to the commissioner any administrative actions made against him/her? a producers secretary who solicits prospects on the telephone. Add to folder 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. 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. Making the policy effective on an earlier date than the present. This type of agreement is called an. Which of the following is considered a tax-deductible medical expenseunder this rule? The two plans are fee-for-service and. Whatwould be an expense factor in an insurance program? When an applicant passes a licensing examination and answers all background questions negatively. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Which of these is NOT an Unfair Claims Settlement Practice? Whendoes a life insurance policy typically become effective? 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. It would be considered taxable income to the employee. B.Canceling a term life policy to buy a whole life policy. B. Gainsare tax exempt at distribution. A licensed producer is required to file notice of any change of address within how many days? 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. 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. She recently replaced the policy with a new one that provides better coverage. How many employees must an employer have for a terminated employee to be eligible for COBRA? Mark continues working after the age of 65 and is covered through his employer's group health plan. The Premium for a Modified whole life policy is: A. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ 1. juin 5, 2022 . C. Funded by federal, state, and local taxes. Whoregulates the quality of care provided by a health maintenance organization(HMO), a. Secretaryof department of health and mental hygiene, b. NationalAssociation of insurance commissioners, A.Secretary of the department of health and mental hygiene. Advertising material for a life insurance policy does NOT need to contain which of the following? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. Both May and John are injured. 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. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? Which of thesestatements is true? Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? What types of life insurance are normally usedfor key employee indemnification? 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. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. a producers secretary who solicits prospects on the telephone. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? Providing claim payments to insureds under the guidelines of the insurance contract. B. d. A covered employee if terminated for grossmisconduct. All of these are standard exclusions found in a life insurance policy EXCEPT. C) Unintentionally misrepresented a material fact on the application. 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. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. 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. How often must an insurance producer's license in Maryland be renewed? 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? 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 of the following is NOT considered to be an actof fraud? 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? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Determine whether the discriminant is positive, negative, or zero. In what form do disability income policies typically pay benefits? D. Licensedproducers not appointed by an insurer. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Must be bonded through the state. 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 of the following would be considered a "dependent child"? Erica is 35 years old and owns an IRA. 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. 1. The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Whichtype of life insurance is normally associated with a payor benefit rider? Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? An individual life insurance policy can be contested by the insurer only during the first _________ years of the contract, An order issued by the commissioner that prohibits a specific practice listed in the order is called a. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Percent frequency distribution for key variables. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? The taxable portion of each annuity payment is calculated using which method? Both partners are still married at the time of Bob's death. By Posted browning 725 pro sporting canada After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. Afterwards, she deposits the check into her personal checking account. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Whichmarket index is normally associated with an indexed annuitys rate of return? 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. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Which of the followingunfair trade practices involves an agent who makes malicious statements aboutanother person's financial condition? Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. Which of these is affected by the frequency of an insurance policy's premium payments? Jim recently sold his whole life insurance policy under a critical settlement contract. What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital? When are group disability benefits considered to be tax-free to the insured? Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). D. The face amount and premium will remain constantover the 10-year period. Under a life insurance policy, what does the insuring clause state? What are the levels of coverage as defined by the Affordable Care Act? Which of the following is a requirement for ANY change in an insurance application? Maria would like an annuity that provides a guaranteed accumulation or payout. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). c. Travel accidental insurance premiums. 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. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. 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. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. & \text{Ending}& \text{Beginning} & \\ 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. visas, binomial trials. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Duringthe accumulation period, who can surrender an annuity? How often must an insurance producer's license in New Jersey be renewed? Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Why are dividends from a mutual insurer not subject to taxation? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ Kathysannuity is currently experiencing tax-deferred growth until she retires. D. Assist an insurer in determine an applicantscreditworthiness. Whatdoes the word Level in level term describe? The standard grace period for a life insurance policy sold in Maryland is. 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). by . A beneficiary has just received a claim payment for a life insurance policy. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. This is called a. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? a producers secretary who solicits prospects on the telephone. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. a. An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. Their offer/administration. What does the word "level" in Level Term describe? 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. Which of these will typically authorize treatment from a specialist? All Medicare Supplement policies MUST contain which provision? a. Mustmeet certain underwriting guidelines.