If Jay were to receive a fee for this advice (in addition to his commission), he MUST, Obtain a signed memorandum from the prospect acknowledging the amount of compensation. Net death benefit will be reduced if the loan is not repaid. Find out how you can intelligently organize your Flashcards. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Producers must complete a total of ____ continuing education credits for each two-year licensing period. What is this an example of? Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? AMaryland insurance producer solicits an insurance policy. Whatwould be an expense factor in an insurance program? 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. Fundingfor Medicare Part B is Partially provided by. What happens to coverage under a children's term rider when that child reaches a certain specified age? All of these are standard exclusions found in a life insurance policy EXCEPT. As beneficiary, he will pay ____ taxes on any money withdrawn. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? 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. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Which of the following is Medicare Part B also known as? Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. 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. 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. 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 producer is meeting with a client to determine whether an annuity would be suitable for purchase. We weren't able to detect the audio language on your flashcards. 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. B.Canceling a term life policy to buy a whole life policy. What types of life insurance are normally usedfor key employee indemnification? We'll bring you back here when you are done. 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 option was chosen? Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. Which of the following would be considered a "dependent child"? How often must the Commissioner examine each domestic insurance company? 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). A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? In which of the following relationship would there NOT be an insurable interest? 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. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. A newborn is required to be covered for ______ days from the moment of birth. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? 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. The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". 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. Afterwards, she deposits the check into her personal account. An individual can enroll in a Part C Medicare Advantage Plan at what time?
a producers secretary who solicits prospects on the telephone Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn.
a producers secretary who solicits prospects on the telephone A licensed producer is required to file notice of any change of address within how many days? In the event of employment termination, group health insurance can be kept if the employee pays the premiums. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. Whichtype of life insurance is normally associated with a payor benefit rider? 1. CashandcashequivalentsAccountsreceivableInventoryTotalcurrentassetsProperty,plant,andequipmentLessaccumulateddepreciationNetproperty,plant,andequipmentTotalassetsAccountspayableIncometaxespayableBondspayableCommonstockRatainedearningsTotalliabilitiesandstockholdersequityEndingBalance$48,00041,00055,000144,000150,00050,000100,000$244,000$32,00025,00060,00070,00057,000$244,000BeginningBalance$57,00044,00050,000151,000140,00035,000105,000$256,000$57,00028,00050,00060,00061,000$256,000. Which of the following is typically NOT eligible for coverage in a group health policy? An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Maria would like an annuity that provides a guaranteed accumulation or payout. b. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Making the policy effective on an earlier date than the present. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Registered for the state insurance examination. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. a producer's secretary who solicits prospects on the telephone. The two plans are fee-for-service and. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. What happens when an insurance policy is backdated? Who is eligible for insurance under a group policy issued to a labor union? \end{array} Which of these will typically authorize treatment from a specialist? His policy may be reinstated at any time within _____ years. All Medicare Supplement policies MUST contain which provision? You have created 2 folders. 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). Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Which of the following is NOT a circumstance to which a temporary producer license can be issued? What is involved when a life insurance policy has been backdated? 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. 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. . How many months can a life insurance policy normally be backdated from the date of application? When are group disability benefits considered to be tax-free to the insured? Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? A debtor may receive Credit Life insurance in which of the following forms? Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. Which of these statements about Medicaid iscorrect? a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application 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. Engaged in a fraudulent insurance practices. B.) For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) Because dividends are considered to be a return of premium. 1. 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 producers secretary who solicits prospects on the telephone. a. An applicant's character and personal habits can be obtained for underwriting purposes from which source? C. Funded by federal, state, and local taxes. Adoctor who accepts Medicare Assignment agree to which of the following ? a producers secretary who solicits prospects on the telephone. Assist in the underwriting of insurance policies. Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. An insurer may pay a commission in which of the following scenarios? Advertising material for a life insurance policy does NOT need to contain which of the following? Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. Julie has a $100,000 30-year mortgage on her new home. The Healthcare Insurance Exchange offers plans for everyone. Maria the agent would like to advertise an annuity product on a highway billboard. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. 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. What does the word "level" in Level Term describe? Term, Whole, and universal lifeinsurance. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. 1. C) Unintentionally misrepresented a material fact on the application. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value.
A producer has recently died and leaves behind a spouse In order for by geriford27, How soon can the benefit payments begin with a deferred annuity? If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? An insurance company may ONLY pay a sales commission to, Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called. a producers secretary who solicits prospects on the telephone. How to take legal action against an insurance company. Please upgrade to Cram Premium to create hundreds of folders! In the event of employment termination, group insurance can be kept if the employee pays the premiums. What does the amount of these credits represent? a producers secretary who solicits prospects on the telephone. Howsoon can the benefit payments begin with a deferred annuity? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? Upon delivery, she may be expected to collect all of the following EXCEPT a(n), Modified application with a new signature, All of these are valid policy dividend options for a life insurance policyowner EXCEPT. Collecting a chargefor insurance that is less than the charge applicable to that insurance. The statement which best describes the relationship between the relationship between the premiums of a whole life policy and the premium payment period is, The shorter the payment period, the higher the premium. Juni 2022. Whichmarket index is normally associated with an indexed annuitys rate of return? Both partners are still married at the time of Bob's death. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Mikehas inherited his fathers traditional IRA. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? what happened to amy bailey happy healthy humble . Which of the following is an example of defamation? c. Solve the equation f(x)=0, if possible. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Which of the following is NOT a requirement for soliciting insurance in Maryland? 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 settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? 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. Commissioner may impose an administrative penalty. Benefits for a Medicare Supplement policy. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. 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 is payable MUST disclose.
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