59 and owned account for a minimum of 5 years, C. 70 and owned account for a minimum of 10 years, D. 70 and owned account for a minimum of 5 years, A. Cancelingdisability policy to buy a term life policy, B. Cancelinga term life policy to buy a whole life policy, C. Cancelinga long-term care policy to buy a whole life policy, D. Cancelinga whole life policy to buy a major medical policy. When is an existing health insurance policy required to provide coverage for a new born child? At what age can she begin to receive distributions without a tax penalty? Which of these will typically authorize treatment from a specialist? Bob and Tom start a business. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? A closed network plan offers a primary physician copay of $25. This change is called a(n). Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? a producers secretary who solicits prospects on the telephone. Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Term, Whole, and universal lifeinsurance. Whichphase is this annuity in? Sonya applied for a health insurance policy on April 1. Making the policy effective on an earlier date than the present. Which of the following must be included in the advertisement? \\ 14 day waiting period / 10 year benefit period. How often must the Commissioner examine each domestic insurance company? A. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Alimited payment whole life policy provides. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? An applicant's character and personal habits can be obtained for underwriting purposes from which source? Which of the following is NOT considered to be an act of fraud? We weren't able to detect the audio language on your flashcards. 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. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. B. Recieve a tax credit to help offset the cost of health insurance. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? In event of acontroversy between the insured and the company, the producer is considered to representthe. 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. Both May and John are injured. Which of the following is NOT a common exclusion for a medical expense policy? \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ Which of the following is NOT a circumstance to which a temporary producer license can be issued? Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? 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? a. Theinsured skipped a payment beyond the 31 day grace period, b. Theinsured was injured while participating in an illegal occupation, c. Theinsured was given a notice of cancellation from the insurer, d. Theinsured suffered an injury as an innocent bystander during a bank robbery. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Julie has a $100,000 30-year mortgage on her new home. An individual can enroll in a Part C Medicare Advantage Plan at what time? Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. 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. Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. 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, Under a small group health plan, an insurer is required to provide a newly-married employee at least ____ days to add the new spouse to the plan, replacing an insurance policy from one insurer to another based on misrepresentation, legible and brief description of the policy on the first page, Each delivered life insurance policy in Maryland MUST include a, The _____________ of Coverage describes policy features, benefits, exclusions, and riders in a Long-Term Care policy, A person who, for a fee, gives advice or recommendations on benefits provided by an insurance contract is called, Child over the age of 18 years who attends an educational institution and relies on the insured employee for financial support. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? How soon can the benefit payments begin with a deferred annuity? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. We understand that this must have been both very frustrating and disappointing. Which of these is NOT considered to be a risk factor in life insurance underwriting? In what part of insurance policy benefits found? Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. B.) Peter Griffith, Funeral Director of Lyndhurst Funeral Home. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. What happens to coverage under a children's term rider when that child reaches a certain specified age? A. 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). Bob dies 12 months later. Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. Which type of life insurance policy is this? There are several types of whole life insurance that are as follow:- The family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. What happens to the coverage under a children's term rider when that child reaches a certain specified age? Which of the following does Medicare Part D cover? Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. B.Canceling a term life policy to buy a whole life policy. D.) Intentionally violated state insurance laws. In this situation, who will receive Bob's policy proceeds? Which of the following is NOT considered to be an actof fraud? a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. 1. Who would be responsible for the prosecution of this crime? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? 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. 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. Pat is insured with a life insurance policy and Karen is his primary beneficiary. 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. 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. 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. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Her health policy most likely contains a(n). B.Change must be initialed by the applicant. Adoctor who accepts Medicare Assignment agree to which of the following ? Which of these is NOT a characteristic of the Accelerated Death Benefit option? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? 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. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? We'll bring you back here when you are done. Which of the following is NOT part of an insurance contract? Net death benefit will be reduced if the loan is not repaid. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. Which of the following is Medicare Part B also known as? Determine whether there are 0,1 , or 2 real solutions to f(x)=0. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. 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. D. Adjustable, permanent, and limited-pay lifeinsurance. How long is the Contestable Period for health insurance policies sold in New Jersey? 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. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? How many months can a life insurance policy normally be backdated from the date of application? The names of the insurance companies represented by the producer. Prospective producer who is waiting to take the state examination. B.) Who regulates the quality care provided by a health maintenance organization (HMO)? Which of the following statements is TRUE? To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? 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?
a producers secretary who solicits prospects on the telephone
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