B. What does the amount of these credits represent? She recently replaced the policy with a new one that provides better coverage. Whatwould be an expense factor in an insurance program? To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. June 24, 2022 . A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Afterwards, she deposits the check into her personal checking account. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? A. It is health insurance for the elderly. The type of annuity she is seeking is called? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. Whatis the primary reason for buying an annuity? 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. The proceeds of this contract could be subject to the claims of. licensed producers not appointed by an insurer. The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". B.Change must be initialed by the applicant. Which of the following basics is a producer's fiduciary responsibility? 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. Which rider would pay a monthly amount because of this disability? Which of the following is a reinstatement condition? A licensed producer is required to file notice of any change of address within how many days? The law that established insurance transactions regulated by the states is called. 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. Whichof the following is a requirement for ANY change in an insurance application? Which course of action must be taken by the Commissioner? Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? A. What happens to interest earned if the annuitant dies before the payout start date? audio not yet available for this language. How long after its effective date will an individual life insurance policy become incontestable? 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 Which of the following statements is TRUE about Medicaid? A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. 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. Maria has committed what crime? assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. 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. 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. Which of the following is NOT a required provision in an accident and health insurance policy? The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Collecting a chargefor insurance that is less than the charge applicable to that insurance. Which of the following is considered a tax-deductible medical expenseunder this rule? 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. 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. 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. A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. 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 producer has committed an insurance crime that violates US Code 1033 (interstate commerce). Which military service exclusion clause would pay upon his death? a. Mustmeet certain underwriting guidelines. How long is the Contestable Period for health insurance policies sold in Maryland? You have created 2 folders. D. Administered by the federal government. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. 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. a producers secretary who solicits prospects on the telephone 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. 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 areas do error commonly occur on applications and for which the incontestable clause does NOT apply? 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. Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ A debtor may receive Credit Life insurance in which of the following forms? a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. Find out how you can intelligently organize your Flashcards. Howdo interest earnings accumulate in a deferred annuity? 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. 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? XZY company has applied for group health insurance for its employees. In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? AnIndividual can enroll in a part C Medicare Advantage Plan at what time? 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. Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? 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. 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. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? The greater of the accumulated cash value or the total premium paid. 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. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? How long is the Contestable Period for health insurance policies sold in New Jersey? b. A. What is created after policy proceeds areobtained in a lump sum and then immediately invested? Who is eligible for insurance under a group policy issued to a labor union? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. . Shirley has a $500,000 10-year non-renewable level term life policy. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". what happened to amy bailey happy healthy humble . The names of the insurance companies represented by the producer. How many days notice must the Commissioner give prior to a hearing? Mikehas inherited his fathers traditional IRA. The rider is called a(n), All if these are valid options for an adjustable life policy except, A non forfeiture option can be used to increase the death benefit. 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). a producers secretary who solicits prospects on the telephone The right-to-examine period in Maryland for long-Term Care polices is ___ days. Introducing Cram Folders! What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? 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. & \text{Ending}& \text{Beginning} & \\ In Maryland, a producer may have his/her license revoked for which of the following acts? 59 and owned account for a minimum of 5 years, C. 70 and owned account for a minimum of 10 years, D. 70 and owned account for a minimum of 5 years, A. Cancelingdisability policy to buy a term life policy, B. Cancelinga term life policy to buy a whole life policy, C. Cancelinga long-term care policy to buy a whole life policy, D. Cancelinga whole life policy to buy a major medical policy. Employee must be able to make unlimited contributions. A producer may be disciplined by the Commissioner for which of the following actions? by geriford27, If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? A doctor who accepts Medicare Assignment agrees to which of the following? A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. who would be responsible for the prosecution of this crime? The ________ has the right to renew a small employer health plan. The Healthcare Insurance Exchange offers plans for everyone. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. One of. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. On which date would Sonya have coverage? Which of the following is NOT a circumstance to which a temporary producer license can be issued? 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. What is the contract called that is issued to an employer for a Group Medical Insurance plan? No federal income tax is owed on life insurance proceeds, A non-contributory health insurance plan helps the insurer avoid, States that have "no loss no gain" laws require a replacing policy to, Pay for ongoing claims under the policy it replaces. a producers secretary who solicits prospects on the telephone 12. Under a life insurance policy, what does the insuring clause state? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. We'll bring you back here when you are done. Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. Term, Whole, and universal lifeinsurance. 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. Which of the following is a requirement for ANY change in an insurance application? Which of the following is NOT part of an insurance contact? Under this plan a, Adoption of a child (an uninsured, eligible employee who acquires a new dependent through marriage, birth, or adoption may qualify for special enrollment in a small employer's health benefit plan). Which of the following is NOT a federal requirement of a qualified plan?