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? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. What is involved when a life insurance policy has been backdated? How soon can the benefit payments begin with a deferred annuity? An attending physician's statement would be appropriate for which life insurance purpose? 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. \\ Which of the following would be considered a "dependent child"? The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. 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? 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. In this situation, who will receive Bob's policy proceeds? Whichof these will have the highest monthly payout upon annuitization? Inwhich of the following situations would the insurer be liable for a loss? Sonya applied for a health insurance policy on April 1. d. Individual disability income insurance premiums. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. 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. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. 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 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. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ 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. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. Complete the sentence using each term once. Which of the following may be used as continuation education credit? A. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ a producers secretary who solicits prospects on the telephone A debtor may receive Credit Life insurance in which of the following forms? 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. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. 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.) This change is called a(n). A separate converted policy may, at the option of the insurance company, be issued to cover an. Duringthe accumulation period, who can surrender an annuity? 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? June 24, 2022 . Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Which market index is associated with an indexed annuity's rate of return? Which of the following does Medicare Part D cover? D. Administered by the federal government. Her health policy most likely contains a(n). When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? Net death benefit will be reduced if the loan is not repaid. How many days notice must the Commissioner give prior to a hearing? In a group health care, what is the purpose of the coordination of benefits provision? A beneficiary has just received a claim payment for a life insurance policy. Vaginal plastic surgery is made up of two main procedures, external and . 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. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. The company did not retire any bonds or repurchase any of its own common stock during the year. The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Bob and Tom start a business. 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. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which of the following actions by a producer would NOT result in a license suspension or revocation? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? 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). Whatis the primary reason for buying an annuity? Whichof these will have the highest monthly payout upon Annuitization? 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 NOT a federal requirement of a qualified plan? Which of the following is NOT a requirement for soliciting insurance in Maryland? How many months can a life insurance policy normally be backdated from the date of application? 1. Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? How often must an insurance producer's license in Maryland be renewed? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. When does a life insurance policy typically become effective? 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. a. Theinsured skipped a payment beyond the 31 day grace period, b. Theinsured was injured while participating in an illegal occupation, c. Theinsured was given a notice of cancellation from the insurer, d. Theinsured suffered an injury as an innocent bystander during a bank robbery. An individual the means to replace wages. In what form do disability income policies typically pay benefits? In what part of insurance policy benefits found? It would be considered taxable income to the employee. Introducing Cram Folders! All of these are responsibilities of the Commissioner EXCEPT, policy must be issued to XYZ, and a certificate must be issued to each employee, XYZ Corp was issued a group health policy for its employees. Which of the following is NOT a required provision in an accident and health insurance policy? by geriford27, Whendoes a life insurance policy typically become effective? Whowere Keogh Plans designed to provide pension benefits for? A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. A. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. Julie has a $100,000 30-year mortgage on her new home. Mary ran into John, another employee, who happened to be taking outthe garbage. Collecting a chargefor insurance that is less than the charge applicable to that insurance. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. The policies continue in force with no change. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Whichphase is this annuity in? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? When are group disability benefits considered to be tax-free to the insured? juin 5, 2022 . 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. Whichof the following is a requirement for ANY change in an insurance application? As of January 1, 2014, small group health insurance can be rated on the basis of. Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? 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 Kathysannuity is currently experiencing tax-deferred growth until she retires. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. . To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. Maria has committed what crime? 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. Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. 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. 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} Reggie purchased a life insurance policy with a face amount of $500,000. An agent is required to keep replacement forms on file for at LEAST _____ years, When a Medicare supplement policy is purchased during the open enrollment period, The policy must be issued regardless of health status, Have it's content approved by the Insurance Commissioner. a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephone Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. 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. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Which of the followingunfair trade practices involves an agent who makes malicious statements aboutanother person's financial condition? & \text{Balance}& \text{Balance} & \\ The ________ has the right to renew a small employer health plan. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? B. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Which of the following is present when an applicant stands to lose value if the insured dies? by . This rider is called a(n). Howare annuities given favorable tax treatment? A. a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephone 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu At minimum, a carrier is required to offer which of the following health benefit plans to small employers? To be classified as a small employer, an employer mustNOT have more than__ eligible employees. Which of the following statements is TRUE? 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. D. Assist an insurer in determine an applicantscreditworthiness. 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. 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. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. 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. pain between 4th and 5th metatarsal. What does the Group Life underwriting risk selection process help protect insurance companies from? A. Which of these is NOT considered to be a risk factor in life insurance underwriting? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? 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. In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? We weren't able to detect the audio language on your flashcards. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, 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)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. On which date would Sonya have coverage? c. Solve the equation f(x)=0, if possible. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? C. Funded by federal, state, and local taxes. When is an existing health insurance policy required to provide coverage for a new born child? How long is the Contestable period for health insurance policies sold in Maryland? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. 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. Which of the following is a requirement for ANY change in an insurance application? The death benefit paid will be what the premium would have purchased at the correct age. b. Pat the client interest on any monies held. One of. 1. Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Erica is 35 years old and owns an IRA. Howdo interest earnings accumulate in a deferred annuity? What is the contract called that is issued to an employer for a Group Medical Insurance plan? The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. 5511. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? The Commissioner issues a subpoena to a producer. Which of these is likely to occur when life or health insurance is being applied for? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. b. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? 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. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. 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. OGC Opinion No. 05-04-21: Acting as insurance producer without a What happens to the coverage under a children's term rider when that child reaches a certain specified age? When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? 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. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. As beneficiary, he will pay ____ taxes on any money withdrawn. An insurance producer is issued a _____ as evidence of authority. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? The names of the insurance companies represented by the producer. 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. A closed network plan offers a primary physician copay of $25. Which of the following is a reinstatement condition? When an applicant passes a licensing examination and answers all background questions negatively. June 5, 2022 . B. Gainsare tax exempt at distribution. How often must the Commissioner examine each domestic insurance company? 1. a producers secretary who solicits prospects on the telephone. The taxable portion of each annuity payment is calculated using which method? -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 Under a life insurance policy, what does the insuring clause state? Which of the following is NOT information found in a life insurance buyer's guide? How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? Whatwould be an expense factor in an insurance program? 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. What happens to interest earned if the annuitant dies before the payout start date? A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. 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. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? Which type of contract may NOT be issued by an insurance company? If she dies 15 years after the policy's inception date, how much will her beneficiary receive? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. 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 settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? D.) By providing consumer credit counseling. What is the purpose of a disability income benefit? 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. The law that established insurance transactions regulated by the states is called. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. Which of the following is considered a tax-deductible medical expenseunder this rule? Whichof these benefit options would he choose? A term life insurance policy is what most people think of when they think about life insurance. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application Whatis the purpose of the medical information Bureau (MIB)? B.) \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\