Who would make the final determination on whether or not an insurance advertisement is misleading? Her agent submitted the information to the insurance company on April 6. A. A producer may be disciplined by the Commissioner for which of the following actions? How often must an insurance producer's license in Maryland be renewed? Her health policy most likely contains a(n). a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. a producers secretary who solicits prospects on the telephone 59 and owned account for a minimum of 10 years, B. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". \end{array} Write a sentence explaining its significance to the executive branch. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. 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 Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Claims for a Long-Term Care policy MUST be paid for which of the following conditions? Who regulates the quality care provided by a health maintenance organization (HMO)? B. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. Whatwould be an expense factor in an insurance program? Julie has a $100,000 30-year mortgage on her new home. Pat is insured with a life insurance policy and Karen is his primary beneficiary. Making the policy effective on an earlier date than the present. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. 1. Which of these is NOT considered to be a risk factor in life insurance underwriting? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. An annuitant is guaranteed to NOT outlive their benefits will a(n). How many months can a life insurance policy normally be backdated from the date of application? Tara the producer is delivering a specified disease insurance policy to a new policyowner. A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. The names of the insurance companies represented by the producer. 1. 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. A minimum of 12 months after date of purchase. Howare annuities given favorable tax treatment? Whichof these will have the highest monthly payout upon annuitization? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. Which of the following statements is TRUE? Find out how you can intelligently organize your Flashcards. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ The producer decides not to respond. Which of the following is NOT a federal requirement of a qualified plan? Which of the following is a reinstatement condition? 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? Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. Which type of life insurance policy is this? Which type of contract may NOT be issued by an insurance company? 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} In New Jersey, group health insurance may be offered to all of these groups EXCEPT. The company did not retire any bonds or repurchase any of its own common stock during the year. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? A medicare supplement plan can be canceled by the insurer, Small employers who are sponsored by an insurer to provide group benefits to its employees are called, Health insurance involves two perils, accident and _____. Which of the following must be included in the advertisement? Tim's individual life insurance policy has just recently lapsed. What happens to interest earned if the annuitant dies before the payout start date? 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. 1. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? An insurer may pay a commission in which of the following scenarios? Whichof these benefit options would he choose? 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. The ________ has the right to renew a small employer health plan. Which law do all insurers and their producers need to comply with? 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. Which type of disability would be less than total impairment and equal to permanent impairment? Duringthe accumulation period, who can surrender an annuity? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? 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. Whichtype of life insurance is normally associated with a payor benefit rider? Which of these riders will pay a death benefit if the insured's spouse dies? a producer's secretary who solicits prospects on the telephone. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Medical history from the insured may be reviewed and reported, If an insurer receives a notice of claim under an individual health policy, and fails to provide proof of loss forms within 15 days, the insured must, File a written proof of loss, detailing the occurrence, character and extent of loss. 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. 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. a. social stratification b. feminization of poverty c. social class d. social mobility e. bourgeoisie f. vertical mobility g. proletariat h. intergenerational mobility i. wealth j. horizontal mobility k. income l. open-class system m. prestige n. absolute poverty o. relative poverty p. caste system. Which of the following is typically NOT eligible for coverage in a group health policy? These rights are called, A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of. At what age can she begin to receive distributions without a tax penalty? a producers secretary who solicits prospects on the telephone & \text{Balance}& \text{Balance} & \\ The Premium for a Modified whole life policy is: A. . Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Life insurance policies will. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. How long is the Contestable Period for health insurance policies sold in New Jersey? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? 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. How to take legal action against an insurance company. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Registered for the state insurance examination. A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. Which of the following is an example of fraud? What is the purpose of the Medical Information Bureau (MIB)? Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. 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. Determine whether there are 0,1 , or 2 real solutions to f(x)=0. Whendoes a life insurance policy typically become effective? This type of agreement is called an. Insurance/Healt Agent Exam Flashcards - Cram.com Jim recently sold his whole life insurance policy under a critical settlement contract. In what form do disability income policies typically pay benefits? 5511. Reggie purchased a life insurance policy with a face amount of $500,000. What is this an example of? A _______ company is owned by its shareholders, The ___________ has the right to renew a small employer health plan, providing incorrect, misleading, incomplete, or materially untrue information in the license application, A producer who is licensed in Maryland but resident in another state is called a, A minor may receive a life insurance policy's death benefit ONLY, Interest on death benefits are NOT required to be paid by an insurance company as long as proceeds are paid within ______ after the date of the death of the insured, Submit to the replacing insurer a list of the policies to be replaced. \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ An amount the premium would have purchased at the correct age. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. Which entity is responsible for processing insurance advertising in New Jersey? Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). a producers secretary who solicits prospects on the telephone Which of the following is NOT a requirement for soliciting insurance in Maryland? a producers secretary who solicits prospects on the telephone In what part of insurance policy benefits found? Which of the following is Medicare Part B also known as? A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. 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. In which of the following relationship would there NOT be an insurable interest? How long is the Contestable period for health insurance policies sold in Maryland? Under a Traditional IRA, Interest earned istaxed. B. 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.) In a group health care, what is the purpose of the coordination of benefits provision? Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? 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. 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? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. At the request of the insurer to assist in the underwriting decision. 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. With a past due premium of $100, the insurer pays $400. Shirley has a $500,000 10-year non-renewable level term life policy. Advertising material for a life insurance policy does NOT need to contain which of the following? 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. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Which of the following is CORRECT regarding the death benefit amount. a producers secretary who solicits prospects on the telephone The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. When is an existing health insurance policy required to provide coverage for a new born child? The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. At what age does the open enrollment period typically begin for Medicare Supplement coverage? The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. Which of the following is true concerning the proceeds of a life insurance policy? What is this an example of? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? What does the word "level" in Level Term describe? An error was made on Erica's life insurance application. A. Craig submits a $500 claim for medical expenses. 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. 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. a. Mustmeet certain underwriting guidelines. 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. B.) It is health insurance for the elderly. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ In Maryland, a producer may have his/her license revoked for which of the following acts? Adoctor who accepts Medicare Assignment agree to which of the following ? Afterwards, she deposits the check into her personal account. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. 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. Which of the Uniform Optional Provisions covers this situation? We'll bring you back here when you are done. 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. belmont funeral home obituaries barbados Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? How many employees must an employer have for a terminated employee to be eligible for COBRA? Maria the agent would like to advertise an annuity product on a highway billboard. Final Exam - New Jersey Life and Health Flashcards | Quizlet Which of thesestatements is true? B. In event of acontroversy between the insured and the company, the producer is considered to representthe. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. A. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Which of the following statements is TRUE? The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. How much does Medicare Part B pay for physician fees? Whichof these will have the highest monthly payout upon Annuitization? The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Whichscenario would most life insurance policies exclude coverage for? The greater of the accumulated cash value or the total premium paid. A. What may be the result of replacing an existing life insurance policy with a new one? A. Introducing Cram Folders! Elizabethis the beneficiary of a life insurance policy. Whichof the following is Medicare Part B also known as? 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. Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. A. The Healthcare Insurance Exchange offers plans for everyone. a producers secretary who solicits prospects on the telephone Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. 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. 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. Which of the following is NOT a duty of the Commissioner? Which option was chosen? 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. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. Which of these is NOT an Unfair Claims Settlement Practice? Please select the correct language below. Which of the following is an example of defamation? The right-to-examine period in Maryland for long-Term Care polices is ___ days. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium.
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