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Which law do all insurers and their producers need to comply with? Which of the following is a reinstatement condition? Who would most likely be coveredunder Workers Compensation? Which of the following does Coordination of Benefits allow? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Adoctor who accepts Medicare Assignment agree to which of the following ? A. Why are dividends from a mutual insurer not subject to taxation? An insurance producer is issued a _____ as evidence of authority. What is this an example of? Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. What is the primary purpose of a rating service company such as A.M. Best? Both May and John are injured. If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. a producers secretary who solicits prospects on the telephone. B.Canceling a term life policy to buy a whole life policy. B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Find out how you can intelligently organize your Flashcards. 1. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? 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? Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? 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. As of January 1, 2014, small group health insurance can be rated on the basis of. Commissioner may impose an administrative penalty. Which of the following statements is TRUE about Medicaid? Whichof these benefit options would he choose? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. When is an existing health insurance policy required to provide coverage for a new born child? How many days notice must the Commissioner give prior to a hearing? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . Tim's individual life insurance policy has just recently lapsed. A closed network plan offers a primary physician copay of $25. & \text{Balance}& \text{Balance} & \\ An insurer may pay a commission in which of the following scenarios? In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? 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? & \text{Ending}& \text{Beginning} & \\ May 2020. Juni 2022. D.) By providing consumer credit counseling. One of. Which military service exclusion clause would pay upon his death? The proceeds of this contract could be subject to the claims of. Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Paul has a (n), Failingto Promptly provide a reasonable explanation for the denial of a claim is conservedto be a(n), AnHMO that involves a partnership of physicians and other providers who practiceout of a central facility is called a(n), Smallemployers who are spooned by an insurer to provider group benefits to itsemployees are called. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. . What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Pay for Medicare charges exceeding the approvedamount. ABC Corporation has a group life insurance policy that covers its employees and their dependent children. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? -is an example of the illegal act called twisting -must be bonded through the state -must be licensed as a producer -is not required to be licensed as a producer must be licensed as a producer Producers selling insurance in New Jersey while having a residence and business address Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? 14 day waiting period / 10 year benefit period. Which of these is affected by the frequency of an insurance policy's premium payments? 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. (p^1p^2). 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). This rider is called a(n). A producer's secretary who solicits prospects on the telephone, When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT, In Maryland, a full-time employee of a small employer MUST work an average of at least _____ per week, A producer may begin to solicit insurance ONLY when. 5511. 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? How long after its effective date will an individual life insurance policy become incontestable? Which of the following statements is TRUE? A Medicare supplement policy can be cancelled by the insurer for: Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. D.) Intentionally violated state insurance laws. Jay the producer is giving insurance advice regarding a prospect's existing coverage. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. 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. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. An insurance company needs to obtain personal information from a third party concerning an applicant. Howdoes one become eligible for part D: Prescription Drug Coverage? What happens to the coverage under a children's term rider when that child reaches a certain specified age? In New Jersey, group health insurance may be offered to all of these groups EXCEPT. At what age can she begin to receive distributions without a tax penalty? 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. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. 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. 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? 1. B. Bob dies 12 months later. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? An insurer formed according to the legal requirements of another country is called an. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. 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. Providing claim payments to insureds under the guidelines of the insurance contract. A. 1. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Under a Traditional IRA, Interest earned istaxed. Which of the following statements is TRUE? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. HIPPA considers which of the following as "individually identifiable health information"? A medicare supplement plan can be canceled by the insurer, Small employers who are sponsored by an insurer to provide group benefits to its employees are called, Health insurance involves two perils, accident and _____. C. Protects consumers with guidelines regarding creditreporting and distribution. On which date would Sonya have coverage? What happens to coverage under a children's term rider when that child reaches a certain specified age? Which of the following is NOT information found in a life insurance buyer's guide? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. When an applicant passes a licensing examination and answers all background questions negatively. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Pierre the producer receives a premium for an individual health insurance policy. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. Which of the following situations would be suitable for a temporary work authority? In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Which of the following is NOT considered to be an act of fraud? 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. licensed producers not appointed by an insurer. Mikehas inherited his fathers traditional IRA. by geriford27, A master contract and certificate of coverage can be found in which type of policy? A producer may be disciplined by the Commissioner for which of the following actions? This is an unlawful practice known as, must be delivered with or prior to policy delivery. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Changing from one occupation to another at the same general status is called _____. Whatis the primary reason for buying an annuity? The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. 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. Submit to the replacing insurer a list of the policies to be replaced. D. Licensedproducers not appointed by an insurer. A separate converted policy may, at the option of the insurance company, be issued to cover an. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? 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. The type of annuity she is seeking is called? She paid the premium on May 15 with the policy indicating the effective date being May 30. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). \\ June 24, 2022 . 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. (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Which of the following is NOT a federal requirement of a qualified plan? Find out how you can intelligently organize your Flashcards. 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 Julie has a $100,000 30-year mortgage on her new home. Which market index is associated with an indexed annuity's rate of return? A producer has committed an insurance crime that violates US code 1033 (interstate commerce). In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ The entity which issues the certificate of authority is the, A policyowner has _____ days after policy delivery to return a major medical policy for a full refund, make any transactions before being approved for a licence, counsels and advises the Governor on all matters assigned to the Maryland Insurance Administration, A Maryland insurance producer solicits an insurance policy. Which of these may NOT be used in a health insurance advertisement? What is the purpose of a disability income benefit? Temporarily Deposit the funds in a personal account. Her agent submitted the information to the insurance company on April 6. 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. Vaginal plastic surgery is made up of two main procedures, external and . When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? She may reinstate her policy within _____ years. Which of the following is NOT a common exclusion for a medical expense policy? D. Assist an insurer in determine an applicantscreditworthiness. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? 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. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. D. The face amount and premiumwill remain constant over the 10-year period. 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. What will the beneficiary receive if an annuitant dies during the accumulation period? Engaged in a fraudulent insurance practices. In a group health care, what is the purpose of the coordination of benefits provision? 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. Producers must complete a total of ____ continuing education credits for each two-year licensing period. Complete the sentence using each term once. The death benefit paid will be what the premium would have purchased at the correct age. 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. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? C.) Unintentionally misrepresented a material fact on the application. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? D. The face amount and premium will remain constantover the 10-year period. is one of the oldest and best known of all Barbadian funeral establishments. 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. B.) A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. 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. Which of the following is required for an insurer to conduct business in this state? by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Maria would like an annuity that provides a guaranteed accumulation or payout. 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. B. Gainsare tax exempt at distribution. Which of the following is the likely result? The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Which of the following is NOT part of an insurance contract? 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. What types of life insurance are normally usedfor key employee indemnification? All Medicare Supplement policies MUST contain which provision? How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? If an insured dies during the grace period with no premiums paid. Mark continues working after the age of 65 and is covered through his employer's group health plan. Term, Whole, and universal lifeinsurance. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. audio not yet available for this language. Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. B.Change must be initialed by the applicant. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ How soon can the benefit payments begin with a deferred annuity? 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. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. The standard grace period for a life insurance policy sold in Maryland is. cuanto gana un pintor de autos en estados unidos . 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. Which of the following is an example of fraud? d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which situation accurately describes a reduced paid-up nonforfeiture option? 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Write a sentence explaining its significance to the executive branch. Kathysannuity is currently experiencing tax-deferred growth until she retires. In Maryland, a producer may have his/her license revoked for which of the following acts? 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. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. James is the insured on a life insurance policy where his age was misstated on the application. Upon delivery, she may be expected to collected all of the followingEXCEPT a(n), B. Signedimpairment rider acknowledgement, C. Modifiedapplication with a new signature, Oneof the most important considerations when replacing health insurance would bethe.