With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. At what age can she begin to receive distributions without a tax penalty? B. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. At the request of the insurer to assist in the underwriting decision. \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| 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? The policies continue in force with no change. 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. 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. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. OGC Opinion No. 05-04-21: Acting as insurance producer without a An attending physician's statement would be appropriate for which life insurance purpose? The greater of the accumulated cash value or the total premium paid. 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. D. Assist an insurer in determine an applicantscreditworthiness. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Which of the following must be included in the advertisement? A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. 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. 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. 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. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? 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? Which option was chosen? The face amount and the premium will remain constant over the 10-year period. Which type of disability would be less than total impairment and equal to permanent impairment? Find out how you can intelligently organize your Flashcards. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? June 24, 2022 . a producers secretary who solicits prospects on the telephone 12. May an insurance producer licensed in New Jersey but not in New York sell a life insurance policy to a New York resident while in New Jersey? 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 producer is meeting with a client to determine whether an annuity would be suitable for purchase. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. c. Solve the equation f(x)=0, if possible. Which of these if NOT considered to be a purpose of an annuity? A doctor who accepts Medicare Assignment agrees to which of the following? 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. An individual who has a hobby racing cars once a month. She recently replaced the policy with a new one that provides better coverage. 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? Ahealth care provider claim may be settled using which of the following paymentmethods? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. How to take legal action against an insurance company. 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. Which of the following is NOT considered to be an act of fraud? licensed producers not appointed by an insurer. A debtor may receive Credit Life insurance in which of the following forms? 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. 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 the employment termination, group health insurance can be kept if the EMPLOYEE pays the premiums, A health insurer must be provided with written proof of loss _____ days after the date of loss, A producer must notify the Commissioner within _____ days of a felony conviction. To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. \\ Her agent submitted the information to the insurance company on April 6. What amount will be paid under a policy where the insured misstated his/her age? Pierre the producer receives a premium for an individual health insurance policy. Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? 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. 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. B. Gainsare tax exempt at distribution. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. Which course of action must be taken by the Commissioner? Which of the following is NOT a qualification to be licensed as a producer? How often must an insurance producer's license in New Jersey be renewed? An insurer formed according to the legal requirements of another country is called an. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? An amount the premium would have purchased at the correct age. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? 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 Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. 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 these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Allof these are considered key factor in underwriting life insurance EXCEPT, Anapplicant intentionally lying to an insurance company on an application inorder to obtain a cheaper premium is an example of. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Which of the following is a reinstatement condition? \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ How many days notice must the Commissioner give prior to a hearing? a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. Which rider would pay a monthly amount because of this disability? A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. Bob dies 12 months later. 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. A whole life policy option where extended term insurance is selected is called a(n). A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. How often must an insurance producer's license in Maryland be renewed? A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. Which of these is NOT considered to be a risk factor in life insurance underwriting? 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. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? C. Protects consumers with guidelines regarding creditreporting and distribution. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. Which of the following is true concerning the proceeds of a life insurance policy? Which situation accurately describes a reduced paid-up nonforfeiture option? Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Please select the correct language below. 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. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. When an applicant passes a licensing examination and answers all background questions negatively. c. Travel accidental insurance premiums. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? Duringthe accumulation period, who can surrender an annuity? pain between 4th and 5th metatarsal. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Tara the producer is delivering a specified disease insurance policy to a new policyowner. Which entity is responsible for processing insurance advertising in New Jersey? A. The legal action provision in a health contract is limited to no more than ___ years. Who would most likely be coveredunder Workers Compensation? 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 company did not retire any bonds or repurchase any of its own common stock during the year. _____ is NOT an element of valid contract, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value at the amount of, Past due premiums that have not been paid by the end of the grace period. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ Which of the following is Medicare Part B also known as? His policy may be reinstated at any time within _____ years. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? C. Normally graded over a period of 20 years. A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. This rider is called a(n). 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). To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Craig submits a $500 claim for medical expenses. Afterwards, she deposits the check into her personal account. juin 5, 2022 . a producer's secretary who solicits prospects on the telephone. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. The family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. 1. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. 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. She may reinstate her policy within _____ years. How much does Medicare Part B pay for physician fees?
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