Determine whether the discriminant is positive, negative, or zero. A producer may begin to solicit insurance ONLY. a producers secretary who solicits prospects on the telephone. An insurer formed according to the legal requirements of another country is called an. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Financial report from the previous year. 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. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Producers must complete a total of ____ continuing education credits for each two-year licensing period. Under a life insurance policy, what does the insuring clause state? Which of the following situations would be suitable for a temporary work authority? The type of annuity she is seeking is called? In the event of a controversy between the insured and the company, the producer is considered to represent the, A life policy loan in Maryland cannot charge a fixed rate of interest higher than, The Food and Drug Administration approves prescription drugs for treatment as stated on the drug's labeling. Julie has a $100,000 30-year mortgage on her new home. 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. a producers secretary who solicits prospects on the telephone The benefit can be offered as a rider at a specific extra cost or may be at no cost, All of the following are included as part of a contract in the entire contract provision EXCEPT the. This type of agreement is called an. D. Licensedproducers not appointed by an insurer. 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 company did not retire any bonds or repurchase any of its own common stock during the year. A separate converted policy may, at the option of the insurance company, be issued to cover an. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. Former dependent of employee no longer ofdependent status. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Both May and John are injured. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. b. Pat the client interest on any monies held. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Engaged in a fraudulent insurance practices. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. What does the amount of these credits represent? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? a)When the policy owner notifies the insurance company, c.)When the required additional premium is paid, d.) No more than 10 days after date of birth, The double indemnity provision in a life insurance policy pertains to an insured's death caused by a(n), A) the policy would be payable, minus the premium amount, B) the policy would be payable only after the beneficiary makes past due premium payment, C) all past premiums will be refunded with interest, An insurance producer agrees to pay the first monthly premium for an insurance applicant. Which of the following statements is TRUE about Medicaid? Tarathe producer is delivering a specified disease insurance policy to a new policyowner. Which of the following is an example of defamation? Sonya applied for a health insurance policy on April 1. 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? Who would make the final determination on whether or not an insurance advertisement is misleading? by . \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ A minimum of 12 months after date of purchase. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. 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. 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. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Prospective producer who is waiting to take the state examination. Which of the following would have the HIGHEST premium? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Which of the following would be the appropriate tax consequence? Which of the following is the likely result? C. Remain of their current coverage for 30 months. Registered for the state insurance examination. What is the purpose of the Medical Information Bureau (MIB)? 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 may be used as continuation education credit? Which of the following would be considered a "dependent child"? Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? 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. Term, Whole, and universal lifeinsurance. What is the purpose of a disability income benefit? To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. The names of the insurance companies represented by the producer. cuanto gana un pintor de autos en estados unidos . Whatis the elimination period of an individual disability policy? Tim's individual life insurance policy has just recently lapsed. 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 Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? 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. Which of the following is NOT considered to be an act of fraud? MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. How to take legal action against an insurance company. Maria would like an annuity that provides a guaranteed accumulation or payout. 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. How many days notice must the Commissioner give prior to a hearing? Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. Maria the agent would like to advertise an annuity product on a highway billboard. What does the word "level" in Level Term describe? The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Which of the following is present when an applicant stands to lose value if the insured dies? Which military service exclusion clause would pay upon his death? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Which of the following is NOT a requirement for soliciting insurance in Maryland? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Who would be responsible for the prosecution of this crime? How many employees must an employer have for a terminated employee to be eligible for COBRA? Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. 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. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? D. The face amount and premium will remain constantover the 10-year period. D. Level for the first 5 years then decreases forthe remainder of the policy. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Whichtype of life insurance is normally associated with a payor benefit rider? a producers secretary who solicits prospects on the telephone Which course of action must be taken by the Commissioner? If the company debited Accounts Receivable and credited Sales for $600,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? & \text{Ending}& \text{Beginning} & \\ Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Their offer/administration. B. 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. 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. 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. 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? Assist in the underwriting of insurance policies. A debtor may receive Credit Life insurance in which of the following forms? May 2020. C.) Unintentionally misrepresented a material fact on the application. In event of acontroversy between the insured and the company, the producer is considered to representthe. Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? 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. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ The death benefit paid will be what the premium would have purchased at the correct age. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Which of the following topics needs to be discussed with this client? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? This rider is called a(n). B. Which of the following basics is a producer's fiduciary responsibility? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. As beneficiary, he will pay ____ taxes on any money withdrawn. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. At what age does the open enrollment period typically begin for Medicare Supplement coverage? Afterwards, she deposits the check into her personal account. Elizabethis the beneficiary of a life insurance policy. Whichof these will have the highest monthly payout upon Annuitization? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: What types of life insurance are normally usedfor key employee indemnification? Whichscenario would most life insurance policies exclude coverage for? Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. What may be the result of replacing an existing life insurance policy with a new one? Jim recently sold his whole life insurance policy under a critical settlement contract. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. Whichof these benefit options would he choose? Whichof these will have the highest monthly payout upon annuitization? Who would most likely be coveredunder Workers Compensation? 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. How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. Which of the following actions by a producer would NOT result in a license suspension or revocation? 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 60 Craig submits a $500 claim for medical expenses. \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ A life insurance policyowner is allowed ____ days upon policy delivery to return the policy for a full premium refund, A producer's license MUST be renewed every _______ years, Collecting a charge for insurance that is less than the charge applicable to that insurance. 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. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? 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? When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. 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. A. 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. 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. Whatdoes the word Level in level term describe? A policyowner suffers an injury that renders him incapable of performing one or more important job duties. 1. 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. audio not yet available for this language. Mary ran into John, another employee, who happened to be taking outthe garbage. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Which situation accurately describes a reduced paid-up nonforfeiture option? Eventually, they retire and dissolve the business. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? 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. In Maryland, a producer may have his/her license revoked for which of the following acts? Which scenario would most life insurance policies exclude coverage for? Inwhich of the following situations would the insurer be liable for a loss? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. The law that established insurance transactions regulated by the states is called. Whichmarket index is normally associated with an indexed annuitys rate of return? Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Commissioner may impose an administrative penalty. An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. Which of these is NOT an Unfair Claims Settlement Practice? At the request of the insurer to assist in the underwriting decision. Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. An insurance company needs to obtain personal information from a third party concerning an applicant. Juni 2022. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? Which of the following is NOT a common exclusion for a medical expense policy? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Whathappens when an insurance policy is backdated? Mark continues working after the age of 65 and is covered through his employer's group health plan. Re: Acting as insurance producer without a license Questions Presented 1. 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. . 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. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. Alimited payment whole life policy provides. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Which type of disability would be less than total impairment and equal to permanent impairment? A master contract and certificate of coverage can be found in which type of policy? Find out how you can intelligently organize your Flashcards. who would be responsible for the prosecution of this crime? 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. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. a producers secretary who solicits prospects on the telephone 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). 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 is NOT a circumstance to which a temporary producer license can be issued? A beneficiary has just received a claim payment for a life insurance policy. If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. 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.) how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . Maria has committed what crime? 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. is one of the oldest and best known of all Barbadian funeral establishments. Erica is 35 years old and owns an IRA. OGC Opinion No. 05-04-21: Acting as insurance producer without a All Medicare Supplement policies MUST contain which provision? Annuities are intended to create an estate. B. Anytimewithin 12 months after date of purchase, C. Aminimum of 6 months after date of purchase, D. Aminimum of 12 months after date of purchase. 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. Healthinsurance will typically cover which of the following perils?
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a producers secretary who solicits prospects on the telephone