What is the required action to be taken by a Maryland licensee before operating under an assumed business name? 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? Which of these if NOT considered to be a purpose of an annuity? An individual can enroll in a Part C Medicare Advantage Plan at what time? After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? In Maryland, a producer may have his/her license revoked for which of the following acts? Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. The Commissioner issues a subpoena to a producer. Alimited payment whole life policy provides. 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. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ Which course of action must be taken by the Commissioner? Her agent submitted the information to the insurance company on April 6. Which of the following does Medicare Part D cover? Kathysannuity is currently experiencing tax-deferred growth until she retires. 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. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. 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? Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? 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} An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. All Medicare Supplement policies MUST contain which provision?
a producers secretary who solicits prospects on the telephone How long after its effective date will an individual life insurance policy become incontestable? Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? Which of the following is NOT information found in a life insurance buyer's guide? June 24, 2022 . We understand that this must have been both very frustrating and disappointing. Which of thesestatements is true? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Bob and Tom start a business. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? The producer decides not to respond. Financial report from the previous year. Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: what happened to amy bailey happy healthy humble . 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. Introducing Cram Folders! By Posted browning 725 pro sporting canada Claims for a Long-Term Care policy MUST be paid for which of the following conditions? Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Howsoon can the benefit payments begin with a deferred annuity? ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. Which of the following statements is TRUE? A separate converted policy may, at the option of the insurance company, be issued to cover an. B.Canceling a term life policy to buy a whole life policy. Which of the following is NOT a qualification to be licensed as a producer? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. 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? A master contract and certificate of coverage can be found in which type of policy? 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. Which of these will typically authorize treatment from a specialist? Which of the following would be the appropriate tax consequence? 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. Which of the following is not a reason for the Commissioner to deny or refuse a producer license application?
Whichof these will have the highest monthly payout upon Annuitization? Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. A.
Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Whichof the following is a requirement for ANY change in an insurance application? We weren't able to detect the audio language on your flashcards. Which of the following may be used as continuation education credit? The Healthcare Insurance Exchange offers plans for everyone. Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. visas, binomial trials. Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. Tarathe producer is delivering a specified disease insurance policy to a new policyowner.
a producers secretary who solicits prospects on the telephone 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).
a producers secretary who solicits prospects on the telephone Craig submits a $500 claim for medical expenses. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. 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. An insurer formed according to the legal requirements of another country is called an. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. ABC Corporation has a group life insurance policy that covers its employees and their dependent children. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? A minimum of 12 months after date of purchase. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Whoregulates the quality of care provided by a health maintenance organization(HMO), a. Secretaryof department of health and mental hygiene, b. NationalAssociation of insurance commissioners, A.Secretary of the department of health and mental hygiene. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". A life insurance policy is hallowed ___ days upon policy delivery to return the policy for a full premium refund.. An order issued by the commissioner that prohibits a specific practice listed in the order is called a (n). Under a life insurance policy, what does the insuring clause state? Afterwards, she deposits the check into her personal checking account. A. Collectinga premium for insurance that is not provided. His policy may be reinstated at any time within _____ years. A. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ The company did not retire any bonds or repurchase any of its own common stock during the year. Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? 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. Which of the following is the likely result? Frank is shopping for a disability income policy. 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 rider would pay a monthly amount because of this disability? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. 1. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? 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. How much does Medicare Part B pay for physician fees? Changing from one occupation to another at the same general status is called _____. 1.
a producers secretary who solicits prospects on the telephone \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. At the request of the insurer to assist in the underwriting decision. Which scenario would most life insurance policies exclude coverage for? Which type of contract may NOT be issued by an insurance company? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. A. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). A producer has recently died and leaves behind a spouse.
a producers secretary who solicits prospects on the telephone Must be bonded through the state. How long is the Contestable period for health insurance policies sold in Maryland? What is the primary purpose of a rating service company such as A.M. Best? Registered for the state insurance examination.
A producer has recently died and leaves behind a spouse In order for \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. a producers secretary who solicits prospects on the telephone. The type of annuity she is seeking is called? The individual is paying premiums that are priced for each year or Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of instability. 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. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application?
a producers secretary who solicits prospects on the telephone A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. Vaginal plastic surgery is made up of two main procedures, external and . The two plans are fee-for-service and. Which of the following is the likely result? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? The names of the insurance companies represented by the producer. b. How many days notice must the Commissioner give prior to a hearing? Which of the following is true concerning the proceeds of a life insurance policy? Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. Under a Traditional IRA, Interest earned istaxed. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. 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. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Who is the individual paid on a fee-for-service basis? Pay for Medicare charges exceeding the approvedamount. Whatdoes the word Level in level term describe? This illustration MUST disclose that. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. Which of the following would be considered a "dependent child"? The law that established insurance transactions regulated by the states is called. Unit 4 Assign Rubric Impact of Colonial Experience (2).pdf, 0B1FC21B-547A-410E-8D8F-64E2A8C35084.jpeg, My Path Assessment Editor _ WorldQuant University.pdf, Oral liquid 50 microgramsml Tablet 625 micrograms 250 micrograms epinephrine, spirit its source is what constitutes religion This can be traced to the, Write in a brief description for the bubbles with underlined words 2 Choose a, BUS 1021 Organizational Behavior (OB) Consulting Assignment.edited11.docx, lOMoARcPSD11771818 True or False The above plot shows clear evidence that the, 2 Non tariff barriers which are further classified into two categories a, CTS115 - Chapter 5 - Case Study - Denial of Service -Moss.docx, The fallacy described as a red herring is most similar to a False cause b, Copy of Algebra Unit 2, Concepts 1, 2, 3.pdf, The model is used to describe the interaction of external forces that affect an, EVM Presentation - Project Management .pptx, What is the shape usually used to refer to the curve that illustrates.