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 is REQUIRED by a producer who is replacing an existing life insurance policy? An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? How long is the Contestable period for health insurance policies sold in Maryland? Under a life insurance policy, what does the insuring clause state? What types of life insurance are normally usedfor key employee indemnification? a producer's secretary who solicits prospects on the telephone. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. 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 s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. a. You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? An error was made on Erica's life insurance application. Which of the following is a requirement for ANY change in an insurance application? \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Claims for a Long-Term Care policy MUST be paid for which of the following conditions? Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner? What is created after policy proceeds areobtained in a lump sum and then immediately invested? Whichof these will have the highest monthly payout upon annuitization? Which of these riders will pay a death benefit if the insured's spouse dies? 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. 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. 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. What happens when an insurance policy is backdated? Percent frequency distribution for key variables. D. The face amount and premium will remain constantover the 10-year period. 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. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. Which of the following statements is TRUE about Medicaid? A policyowner suffers an injury that renders him incapable of performing one or more important job duties. An individual can enroll in a Part C Medicare Advantage Plan at what time? Who is the individual paid on a fee-for-service basis? Annuities are intended to create an estate. Pierre the producer receives a premium for an individual health insurance policy. Pierre MUST remit the premium to his insurer within ___ business days of receipt. Pat is insured with a life insurance policy and Karen is his primary beneficiary. cuanto gana un pintor de autos en estados unidos . A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Maria has committed what crime? 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. Whichtype of injury would NOT be covered under a health insurance policy? 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. Afterwards, she deposits the check into her personal account. A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? a producers secretary who solicits prospects on the telephone. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Which course of action must be taken by the Commissioner? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? We'll bring you back here when you are done. Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. a producers secretary who solicits prospects on the telephone. The Premium for a Modified whole life policy is: A. Shirley has a $500,000 10-year non-renewable level term life policy. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). The standard grace period for a life insurance policy sold in Maryland is. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Making the policy effective on an earlier date than the present. A doctor who accepts Medicare Assignment agrees to which of the following? Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Howare annuities given favorable tax treatment? Which of these statements about Medicaid iscorrect? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? In Maryland, a producer may have his/her license revoked for which of the following acts? Which law do all insurers and their producers need to comply with? With a past due premium of $100, the insurer pays $400. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? You have created 2 folders. Which of the following statements is TRUE? Course Hero is not sponsored or endorsed by any college or university. What happens to the coverage under a children's term rider when that child reaches a certain specified age? Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. A producer is meeting with a client to determine whether an annuity would be suitable for purchase. 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. Whoassumes the investment risk with a fixed annuity contract? 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? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? When is an existing health insurance policy required to provide coverage for a new born child? 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. 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? As beneficiary, he will pay__taxeson any money withdrawn. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. a producers secretary who solicits prospects on the telephone 12. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ 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. The greater of the accumulated cash value or the total premium paid. Introducing Cram Folders! In what form do disability income policies typically pay benefits? What is this an example of? 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 annuitant is guaranteed to NOT outlive their benefits will a(n). Within how many days must a producerreport to the commissioner any administrative actions made against him/her? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. b. Pat the client interest on any monies held. Please upgrade to Cram Premium to create hundreds of folders! Which of the following is TRUE regarding the federal income tax? Whichof the following is a requirement for ANY change in an insurance application? Which of these will typically authorize treatment from a specialist? Whichof these will have the highest monthly payout upon Annuitization? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Her agent submitted the information to the insurance company on April 6. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? How long is the Contestable Period for health insurance policies sold in New Jersey? What will the beneficiary receive if an annuitant dies during the accumulation period? An accident and health policy that provides reimbursement benefits makes them payable to the, A separate converted policy may, at the option of the insurance company, be issued to cover a, Dental treatment is needed to repair an injury. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Find out how you can intelligently organize your Flashcards. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Because dividends are considered to be a return of premium. Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? At what age does the open enrollment period typically begin for Medicare Supplement coverage? If she dies 15 years after the policy's inception date, how much will her beneficiary receive? Providing claim payments to insureds under the guidelines of the insurance contract. Which of the following is a reinstatement condition? 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. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: [email protected] 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. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Which of the following is CORRECT regarding the death benefit amount. How many days notice must the Commissioner give prior to a hearing? 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. a producers secretary who solicits prospects on the telephone. pain between 4th and 5th metatarsal. At what age can she begin to receive distributions without a tax penalty? Determine whether the discriminant is positive, negative, or zero. What is the purpose of a disability income benefit? The policy automatically converts to whole lifeafter the 10-year period, B. A life insurance policy sold in Maryland can be cancelled for nonfraudulent misstatements for up to, A person who has a contract with an insurance company to represent it, To a licensed producer who is appointed with the insurer. 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. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. Both partners are still married at the time of Bob's death. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? The face amount and the premium will remain constant over the 10-year period. Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. Which of the following topics needs to be discussed with this client? Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? Which of the Uniform Optional Provisions covers this situation? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Jay the producer is giving insurance advice regarding a prospect's existing coverage. Who is required to notify the producer in the event of appointment termination? Determine whether there are 0,1 , or 2 real solutions to f(x)=0. Which of these is NOT considered to be a risk factor in life insurance underwriting? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. The renewability provision for an individual long-term care insurance policy must be located on the policy form's, The ______________________ must be notified of a licensee's address change within 30 days of such change, Producers must complete a total of _______ Continuing Education hours for each two-year licensing period, A Medicare Supplement policy may exclude coverage for a preexisting condition for up to ____ months. Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? How many months can a life insurance policy normally be backdated from the date of application? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. James is the insured on a life insurance policy where his age was misstated on the application. Former dependent of employee no longer ofdependent status. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Which of the following is NOT a required provision in an accident and health insurance policy? This rider is called a(n). How long must an individual be unable to engage in any gainful activity due physical or mental disability in order to qualify for Social Security Total Disability? Bob dies 12 months later. 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. Which of the following is an example of fraud? Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Whatis the elimination period of an individual disability policy? \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ What happens to coverage under a children's term rider when that child reaches a certain specified age? Hill during her initial calls made to the call center. Which of the following is NOT required in an order from the Commissioner? Assist in the underwriting of insurance policies. Why are dividends from a mutual insurer not subject to taxation? Which of the following is the likely result? 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. Which of the following is NOT a qualification to be licensed as a producer? In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. D. Level for the first 5 years then decreases forthe remainder of the policy. 1. Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? Which of these if NOT considered a form of life insurance advertisement? Re: Acting as insurance producer without a license Questions Presented 1. 14 day waiting period / 10 year benefit period. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. His policy may be reinstated at any time within _____ years. Sonya applied for a health insurance policy on April 1. juin 5, 2022 . Over the course of a year, which premium payment mode is most expensive? What happens to interest earned if the annuitant dies before the payout start date? After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. \\ Which of the following basics is a producer's fiduciary responsibility? 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. Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. The time limit for filing claim disputes is addressed in which provision of an accident and health policy? 1. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. C. Normally graded over a period of 20 years. Kathy pays a monthly premium on her health insurance policy. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. The replacing policy may only impose a ____ month time exclusion for pre-existing conditions, forward premiums to the insurer on a timely basis, When collecting insurance premiums from a client, a producer MUST, Once a health insurance policy has been in force for _______ years, the policy may NOT be contested by the insurer, cancelling a term life policy to buy a whole life policy, All of these types of benefits may be covered by a nonprofit health service plan EXCEPT, have it's content approved by the commissioner. Employee must be able to make unlimited contributions. Which of the following is the likely result? Must be bonded through the state. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ Reggie purchased a life insurance policy with a face amount of $500,000. & \text{Balance}& \text{Balance} & \\ Which of the following is NOT a duty of the Commissioner? B. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). 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. Tarathe producer is delivering a specified disease insurance policy to a new policyowner.

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