Atax-free 1035 Exchange of a life insurance policy to a different policy ispermitted if it occurs, A. Inthe same state as the original transaction, C. Frominsurer to insurer and no cash is received by the policy owner, D. Fromagent to agent as long as the agents are licensed in the same line. What does the Group Life underwriting risk selection process help protect insurance companies from? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. Determine whether the discriminant is positive, negative, or zero. This type of agreement is called an. 59 and owned account for a minimum of 10 years, B. Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ Which of these premium payment frequencies is not typically available to a policy owner? \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ How often must an insurance producer's license in Maryland be renewed? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? The proceeds of this contract could be subject to the claims of, The Food and Drug Administrationapproved prescription drugs for treatment as stated on the drugs labeling. 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. 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. a producers secretary who solicits prospects on the telephone. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. A licensed producer is required to file notice of any change of address within how many days? 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. 1. Percent frequency distribution for key variables. An individual can enroll in a Part C Medicare Advantage Plan at what time? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. How many employees must an employer have for a terminated employee to be eligible for COBRA? When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. a producers secretary who solicits prospects on the telephone 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 _____. A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. Employee must be able to make unlimited contributions. C.) Unintentionally misrepresented a material fact on the application. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? What is this an example of? What is issued to each employee of an employerhealth plan? In the event of employment termination, group health insurance can be kept if the employee pays the premiums, B. Recieve a tax credit to help offset the cost of health insurance, C. Remain of their current coverage for 30 months. Which type of life insurance policy is this? June 24, 2022 . Which of the following is required for an insurer to conduct business in this state? Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. A. A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. Who is the individual paid on a fee-for-service basis? ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. How often must an insurance producer's license in Maryland be renewed? pain between 4th and 5th metatarsal. Which military service exclusion clause would pay upon his death? Jay the producer is giving insurance advice regarding a prospect's existing coverage. A. a producers secretary who solicits prospects on the telephone Which of these is likely to occur when life or health insurance is being applied for? An amount the premium would have purchased at the correct age. All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. Using derogatory statements about an insurance company's financial condition. The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age, A guaranteed issue insurance policy has no, A single premium cash value policy can be described as, A policy that is paid up after only one payment. A master contract and certificate of coverage can be found in which type of policy? d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. We'll bring you back here when you are done. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. The ________ has the right to renew a small employer health plan. Determine whether there are 0,1 , or 2 real solutions to f(x)=0. a producers secretary who solicits prospects on the telephone Which of the following is NOT a requirement for soliciting insurance in Maryland? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. & \text{Ending}& \text{Beginning} & \\ Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Unintentionally misrepresented a material fact on the application. 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 producer may be disciplined by the Commissioner for which of the following actions? 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. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. As beneficiary, he will pay ____ taxes on any money withdrawn. 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 thesestatements is true? A producer has recently died and leaves behind a spouse In order for D. The face amount and premiumwill remain constant over the 10-year period. Erica is 35 years old and owns an IRA. 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. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. D. Licensedproducers not appointed by an insurer. Which of the following is NOT a duty of the Commissioner? Juni 2022. 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. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Eventually, they retire and dissolve the business. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ (p^1p^2). B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. B.Change must be initialed by the applicant. Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. Kathysannuity is currently experiencing tax-deferred growth until she retires. Whatdoes the word Level in level term describe? In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. A. The producer decides not to respond. Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ A. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. Whatis the purpose of the medical information Bureau (MIB)? 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 All Medicare Supplement policies MUST contain which provision? 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. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. C. Protects consumers with guidelines regarding creditreporting and distribution. 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. a producers secretary who solicits prospects on the telephone Which of the following is NOT a circumstance to which a temporary producer license can be issued? OGC Opinion No. 05-04-21: Acting as insurance producer without a At minimum, a carrier is required to offer which of the following health benefit plans to small employers? A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? D. The face amount and premium will remain constantover the 10-year period. 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 typically NOT eligible for coverage in a group health policy? The right-to-examine period in Maryland for long-Term Care polices is ___ days. D.) Intentionally violated state insurance laws. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. 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. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? A producer has committed an insurance crime that violates US code 1033 (interstate commerce). What is the required action to be taken by a Maryland licensee before operating under an assumed business name? James is the insured on a life insurance policy where his age was misstated on the application. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Which of these is NOT considered to be a risk factor in life insurance underwriting? Bob and Tom start a business. This change is called a(n). a producers secretary who solicits prospects on the telephone Who would most likely be coveredunder Workers Compensation? 1. Which of the following is true concerning the proceeds of a life insurance policy? The company did not retire any bonds or repurchase any of its own common stock during the year. Craig submits a $500 claim for medical expenses. Her health policy most likely contains a(n). d. A covered employee if terminated for grossmisconduct. She may reinstate her policy within _____ years. Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Its balance sheet for this year is as follows: EndingBeginningBalanceBalanceCashandcashequivalents$48,000$57,000Accountsreceivable41,00044,000Inventory55,00050,000Totalcurrentassets144,000151,000Property,plant,andequipment150,000140,000Lessaccumulateddepreciation50,00035,000Netproperty,plant,andequipment100,000105,000Totalassets$244,000$256,000Accountspayable$32,000$57,000Incometaxespayable25,00028,000Bondspayable60,00050,000Commonstock70,00060,000Ratainedearnings57,00061,000Totalliabilitiesandstockholdersequity$244,000$256,000\begin{array}{l c c} Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Complete the sentence using each term once. a producers secretary who solicits prospects on the telephone B. 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. Advertising material for a life insurance policy does NOT need to contain which of the following? a producers secretary who solicits prospects on the telephone 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. Which of these if NOT considered a form of life insurance advertisement? A doctor who accepts Medicare Assignment agrees to which of the following? Who would make the final determination on whether or not an insurance advertisement is misleading? 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? The proceeds of this contract could be subject to the claims of. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. b. Pat the client interest on any monies held. What is the primary purpose of a rating service company such as A.M. Best? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). Mikehas inherited his fathers traditional IRA. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Assist in the underwriting of insurance policies. yabombay Flashcards | Quizlet What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Please upgrade to Cram Premium to create hundreds of folders! Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). B. Recieve a tax credit to help offset the cost of health insurance. She recently replaced the policy with a new one that provides better coverage. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ is one of the oldest and best known of all Barbadian funeral establishments. 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. How long is the Contestable period for health insurance policies sold in Maryland? A master contract and certificate of coverage can be found in which type of policy? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Annuities are intended to create an estate. On which date would Sonya have coverage? 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. EXECUTIVE SUMMARY. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. The Healthcare Insurance Exchange offers plans for everyone. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. 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? An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following?
Mudae Bot Change Image,
Stevens Crackshot 16 Parts,
Articles A