Which of these is likely to occur when life or health insurance is being applied for? 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. A term life insurance policy is what most people think of when they think about life insurance. D. Willfullycollecting a premium that exceeds the amount of the actual premium. Tim's individual life insurance policy has just recently lapsed. At what age can she begin to receive distributions without a tax penalty? \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Which option was chosen? licensed producers not appointed by an insurer. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? Mary ran into John, another employee, who happened to be taking outthe garbage. An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. In what form do disability income policies typically pay benefits? What is the purpose of having an accelerated death benefit on a life insurance policy? Her health policy most likely contains a(n). A life insurance replacement gives the policyowner the right to return the policy for a 100% refund within _____ days of policy delivery, A producer MUST maintain insurance transaction records for a minimum of ____ years. Whatwould be an expense factor in an insurance program? What is the primary purpose of a rating service company such as A.M. Best? Annuities are intended to create an estate. 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. \end{array} Which type of disability would be less than total impairment and equal to permanent impairment? Whichof the following is a requirement for ANY change in an insurance application? Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Engaged in a fraudulent insurance practices. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. 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 Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? Which of the following is NOT a circumstance to which a temporary producer license can be issued? Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. {"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"}}. A. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) 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. Which of the following basics is a producer's fiduciary responsibility? Whichtype of injury would NOT be covered under a health insurance policy? As of January 1, 2014, small group health insurance can be rated on the basis of. 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). In a group health care, what is the purpose of the coordination of benefits provision? An applicant's character and personal habits can be obtained for underwriting purposes from which source? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. She paid the premium on May 15 with the policy indicating the effective date being May 30. An insurance producer is issued a _____ as evidence of authority. When is an existing health insurance policy required to provide coverage for a new born child? Please sign in to share these flashcards. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? A _______ negotiates an insurance contract on behalf of an insurer, The Entire Contract provision states that an entire contract consists of the actual policy and the, the last day of the licensee's birth month (every two years), A producer's renewal date for his/her resident insurance license is on or before. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. 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. 1. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. In event of acontroversy between the insured and the company, the producer is considered to representthe. B.Canceling a term life policy to buy a whole life policy. Which of the following is a reinstatement condition? At the request of the insurer to assist in the underwriting decision. D.) By providing consumer credit counseling. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Whowere Keogh Plans designed to provide pension benefits for? What types of life insurance are normally usedfor key employee indemnification? 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. A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. A. a producers secretary who solicits prospects on the telephone Which of the following is NOT a qualification to be licensed as a producer? Who would most likely be coveredunder Workers Compensation? C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. juin 5, 2022 . The Commissioner issues a subpoena to a producer. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? All of these are standard exclusions found in a life insurance policy EXCEPT. Which of the following topics needs to be discussed with this client? The names of the insurance companies represented by the producer. by geriford27, 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. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Which type of life insurance policy is this? 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. Which of the following is TRUE regarding the federal income tax? In Maryland, a Producer may have his/her license revoked for which of the following acts? A separate converted policy may, at the option of the insurance company, be issued to cover an. Maria would like an annuity that provides a guaranteed accumulation or payout. Howare annuities given favorable tax treatment? Whoassumes the investment risk with a fixed annuity contract? Which of the following is NOT required in an order from the Commissioner? A. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? If an insured dies during the grace period with no premiums paid. Frank is shopping for a disability income policy. c. Solve the equation f(x)=0, if possible. Which of the following is NOT a required provision in an accident and health insurance policy? Which situation accurately describes a reduced paid-up nonforfeiture option? A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting . Over the course of a year, which premium payment mode is most expensive? 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. How long is her grace period? On which date would Sonya have coverage? 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. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. 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. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. 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. An error was made on Erica's life insurance application. (p^1p^2). How long is the Contestable period for health insurance policies sold in Maryland? An insurance company needs to obtain personal information from a third party concerning an applicant. May 2020. How much does Medicare Part B pay for physician fees? Financial report from the previous year. a producers secretary who solicits prospects on the telephone Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. 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. 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 Unintentionally misrepresented a material fact on the application. \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ Whichof these benefit options would he choose? Must be bonded through the state. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? 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. 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. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. Afterwards, she deposits the check into her personal checking account. 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). Which of these if NOT considered a form of life insurance advertisement? Howsoon can the benefit payments begin with a deferred annuity? How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Tarathe producer is delivering a specified disease insurance policy to a new policyowner. the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. 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. 1. Which of the following is Medicare Part B also known as? A. 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. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Reggie purchased a life insurance policy with a face amount of $500,000. With a past due premium of $100, the insurer pays $400. visas, binomial trials. EXECUTIVE SUMMARY. Find out how you can intelligently organize your Flashcards. b. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? C. Funded by federal, state, and local taxes. An attending physician's statement would be appropriate for which life insurance purpose? Which of the following is NOT part of an insurance contact? Shirley has a $500,000 10-year non-renewable level term life policy. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. The policy automatically converts to whole lifeafter the 10-year period, B. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. What does the word "level" in Level Term describe? An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. Tara the producer is delivering a specified disease insurance policy to a new policyowner. What is the purpose of the Medical Information Bureau (MIB)? a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application Add to folder \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Which of the following is a requirement for ANY change in an insurance application? Which of these is NOT considered to be a risk factor in life insurance underwriting? Which of these riders will pay a death benefit if the insured's spouse dies? 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 _____. Provides the insured a specific dollar amount for services, An example of an unfair method of competition is, Overstating the benefits of an insurance policy, A pharmacy benefit covers prescription drugs derived from a list called, The type of policy which pays on the death of the last person is called, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination, Ownership of a life insurance policy may be temporarily transferred with a(n). The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? 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. Submit to the replacing insurer a list of the policies to be replaced. Erica is 35 years old and owns an IRA. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Maria has committed what crime? a producers secretary who solicits prospects on the telephone Who would be responsible for the prosecution of this crime? Which of the following would have the HIGHEST premium? The standard grace period for a life insurance policy sold in Maryland is. Which of the following is NOT considered to be an act of fraud? a producers secretary who solicits prospects on the telephone 12. An amount the premium would have purchased at the correct age. a producers secretary who solicits prospects on the telephone. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. By Posted browning 725 pro sporting canada belmont funeral home obituaries barbados Which type of contract may NOT be issued by an insurance company? 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? 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. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? Making the policy effective on an earlier date than the present. A master contract and certificate of coverage can be found in which type of policy? Which entity is responsible for processing insurance advertising in New Jersey? Howdoes one become eligible for part D: Prescription Drug Coverage? An individual the means to replace wages. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do?