1. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? Which of the following is NOT considered to be an actof fraud? licensed producers not appointed by an insurer. 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. By . Which of these may NOT be used in a health insurance advertisement? XZY company has applied for group health insurance for its employees. The right-to-examine period in Maryland for long-Term Care polices is ___ days. A producer has recently died and leaves behind a spouse. 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. C. Funded by federal, state, and local taxes. a producers secretary who solicits prospects on the telephone When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? Policyowners from misrepresentations and loss of benefits, Replacement regulation is designed to protect, A producer must notify the Commissioner within _____ days of a felony conviction, Dependent children under a health insurance plan must be provided coverage up to age, written authorization from the proposed insured, Prior to conducting an HIV-related test, the insurer must obtain, An insurance producer agrees to pay the first monthly premium for an insurance applicant. 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 At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Mikehas inherited his fathers traditional IRA. Under a Traditional IRA, Interest earned istaxed. The policies continue in force with no change. \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ Which of the following is a requirement for ANY change in an insurance application? D.) Intentionally violated state insurance laws. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? 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. Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. All Medicare Supplement policies MUST contain which provision? The face amount and the premium will remain constant over the 10-year period. a producers secretary who solicits prospects on the telephone Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? An attending physician's statement would be appropriate for which life insurance purpose? yabombay Flashcards | Quizlet By Posted browning 725 pro sporting canada a. Mustmeet certain underwriting guidelines. Which of the following is Medicare Part B also known as? 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. A. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? If an insured dies during the grace period with no premiums paid. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ An applicant's character and personal habits can be obtained for underwriting purposes from which source? Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? 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. Over the course of a year, which premium payment mode is most expensive? The legal action provision in a health contract is limited to no more than ___ years. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ \\ A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? How long is the Contestable Period for health insurance policies sold in New Jersey? This is called a. Former dependent of employee no longer ofdependent status. Annuities are intended to create an estate. Which of the following is CORRECT regarding the death benefit amount. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . C.) Unintentionally misrepresented a material fact on the application. All of these are responsibilities of the Commissioner EXCEPT, policy must be issued to XYZ, and a certificate must be issued to each employee, XYZ Corp was issued a group health policy for its employees. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. a producers secretary who solicits prospects on the telephone. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. On Social Security disability for over two years, D.Falling below the federal poverty level, D. Falling below the federal poverty level, Field underwriting performed by the producer involves, Completing the application and collecting initial premium, A provision that allows a policy owner to withdraw a policy's cash value interest free is a(n). Commissioner may impose an administrative penalty. Medical history from the insured may be reviewed and reported, If an insurer receives a notice of claim under an individual health policy, and fails to provide proof of loss forms within 15 days, the insured must, File a written proof of loss, detailing the occurrence, character and extent of loss. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? 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. Whichscenario would most life insurance policies exclude coverage for? The names of the insurance companies represented by the producer. An error was made on Erica's life insurance application. What does the word "level" in Level Term describe? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ The greater of the accumulated cash value or the total premium paid. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. A. Collectinga premium for insurance that is not provided. In event of acontroversy between the insured and the company, the producer is considered to representthe. B. Recieve a tax credit to help offset the cost of health insurance. 1. . 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. What is this an example of? Which of the following is NOT a duty of the Commissioner? Which of the following situations would be suitable for a temporary work authority? b. Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. Howsoon can the benefit payments begin with a deferred annuity? A beneficiary has just received a claim payment for a life insurance policy. You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. New Jersey Department of Banking Insurance, A limited payment whole life policy provides, All advertisements for health insurance shall make clear the identity of the, The double indemnity provisions in a life insurance policy pertains to an insured's death caused by a. Mike has inherited his father's traditional IRA. Find out how you can intelligently organize your Flashcards. May 2020. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. James is the insured on a life insurance policy where his age was misstated on the application. Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. & \text{Balance}& \text{Balance} & \\ 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Pat is insured with a life insurance policy and Karen is his primary beneficiary. Erica is 35 years old and owns an IRA. D. The face amount and premiumwill remain constant over the 10-year period. Which scenario would most life insurance policies exclude coverage for? She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. a producers secretary who solicits prospects on the telephone The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? A. 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. What are the levels of coverage as defined by the Affordable Care Act? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". An insurer may pay a commission in which of the following scenarios? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Which of the following actions by a producer would NOT result in a license suspension or revocation? 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. a producers secretary who solicits prospects on the telephone. Maria has committed what crime? 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. Whichof the following is Medicare Part B also known as? A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. 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. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Tim's individual life insurance policy has just recently lapsed. Which of these statements about Medicaid iscorrect? Which of these is NOT an Unfair Claims Settlement Practice? a producers secretary who solicits prospects on the telephone B. Which of the following topics needs to be discussed with this client? Kathysannuity is currently experiencing tax-deferred growth until she retires. Which type of contract may NOT be issued by an insurance company? Determine whether there are 0,1 , or 2 real solutions to f(x)=0. a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephone During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for$3,000 that had originally cost $6,000 and had accumulated depreciation of$4,000. 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? To be classified as a small employer, an employer mustNOT have more than__ eligible employees. Which of the following is the likely result? 14 day waiting period / 10 year benefit period. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. d. A covered employee if terminated for grossmisconduct. 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? Reggie purchased a life insurance policy with a face amount of $500,000. Collecting a chargefor insurance that is less than the charge applicable to that insurance. 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). 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? A closed network plan offers a primary physician copay of $25. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Add to folder \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Their offer/administration. How soon can the benefit payments begin with a deferred annuity? The Premium for a Modified whole life policy is: A. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. a producers secretary who solicits prospects on the telephone Welcome To Be Falcon Solutions Website Hotline & WhatsApp : +971556212280 | Landline : +97143873596 , +97167499398 james reynolds obituary popeyes vs chicken express do venmo requests expire yorba linda football maxpreps primary care physicians in cleveland ohio It is administrated by the federal government, C. It is funded by federal, state, and local taxes. 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. Whoassumes the investment risk with a fixed annuity contract? In a group health care, what is the purpose of the coordination of benefits provision? Which of the Uniform Optional Provisions covers this situation? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Chapter 8 Texas Laws and Rules Pertinent to I, NY state insurance license practice exam ques, Chapter 16: Private Insurance Plans for Senio, Totalliabilitiesandstockholdersequity, Fundamentals of Financial Management, Concise Edition, Anexo del Real Decreto 1630/2006 Educacin in. 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. Her health policy most likely contains a(n). 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. Which of the following is NOT considered to be an act of fraud?