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. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. a producers secretary who solicits prospects on the telephone Welcome To Be Falcon Solutions Website Hotline & WhatsApp : +971556212280 | Landline : +97143873596 , +97167499398 james reynolds obituary popeyes vs chicken express do venmo requests expire yorba linda football maxpreps primary care physicians in cleveland ohio B.) A producer has committed an insurance crime that violates US code 1033 (interstate commerce). 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. Providing claim payments to insureds under the guidelines of the insurance contract. What will the beneficiary receive if an annuitant dies during the accumulation period? Who would most likely be coveredunder Workers Compensation? How to take legal action against an insurance company. A. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. 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. In which of the following relationship would there NOT be an insurable interest? A. 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. An applicant's character and personal habits can be obtained for underwriting purposes from which source? Course Hero is not sponsored or endorsed by any college or university. 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. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? As beneficiary, he will pay__taxeson any money withdrawn. Maria would like an annuity that provides a guaranteed accumulation or payout. A producer may be disciplined by the Commissioner for which of the following actions? What are the levels of coverage as defined by the Affordable Care Act? Erica is 35 years old and owns an IRA. The policyholder for a group health benefit plan is considered to be the, A Medicare Supplement policy can be cancelled by the insurer for, As of January 1, 2007, producer's license expires, Every two years on the last day of the producer's birth month, An insurer has the right to recover payment made to the insured from the negligent party. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). An insurer may pay a commission in which of the following scenarios? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? A. She would like to borrow $15,000 against the cash value. Which of these statements is true? A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. b. Pat the client interest on any monies held. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? 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. Duringthe accumulation period, who can surrender an annuity? What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? His policy may be reinstated at any time within _____ years. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Engaged in a fraudulent insurance practices. Employee must be able to make unlimited contributions. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. 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. Who would be responsible for the prosecution of this crime? Whichof the following is Medicare Part B also known as? Which of the following is NOT considered to be an act of fraud? Which of the following is CORRECT regarding the death benefit amount. AnIndividual can enroll in a part C Medicare Advantage Plan at what time? Unintentionally misrepresented a material fact on the application. Introducing Cram Folders! 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 the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? Which of the following is considered a tax-deductible medical expenseunder this rule? How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Whowere Keogh Plans designed to provide pension benefits for? Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. Whatdoes the word Level in level term describe? Insurance/Healt Agent Exam Flashcards - Cram.com pain between 4th and 5th metatarsal. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? Which of the following must be included in the advertisement? 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. 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. Must be bonded through the state. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. James is the insured on a life insurance policy where his age was misstated on the application. Vaginal plastic surgery is made up of two main procedures, external and . 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. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. 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. Whichtype of life insurance is normally associated with a payor benefit rider? a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. Please sign in to share these flashcards. We understand that this must have been both very frustrating and disappointing. This type of agreement is called an. 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. D. Level for the first 5 years then decreases forthe remainder of the policy. You have created 2 folders. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. 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. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. Which of the following may be used as continuation education credit? If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? How long is the Contestable Period for health insurance policies sold in Maryland? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. This is called a. Bob dies 12 months later. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? 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 _____. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. 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 these if NOT considered a form of life insurance advertisement? Which scenario would most life insurance policies exclude coverage for? Which of the following is Medicare Part B also known as? At the request of the insurer to assist in the underwriting decision. Howdo interest earnings accumulate in a deferred annuity? Financial report from the previous year. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. 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). b. (p^1p^2). When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? 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. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. How long must an individual be unable to engage in any gainful activity due physical or mental disability in order to qualify for Social Security Total Disability? a producers secretary who solicits prospects on the telephone What amount will be paid under a policy where the insured misstated his/her age? A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? EXECUTIVE SUMMARY. Bob and Tom start a business. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. a producers secretary who solicits prospects on the telephone C. Funded by federal, state, and local taxes. a producers secretary who solicits prospects on the telephone. Pierre MUST remit the premium to his insurer within ___ business days of receipt. A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. Which of the following is Medicare Part B also known as? The company did not retire any bonds or repurchase any of its own common stock during the year. All Medicare Supplement policies MUST contain which provision? 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. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? A whole life policy option where extended term insurance is selected is called a(n). 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. Which of these is NOT a characteristic of the Accelerated Death Benefit option? What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? Afterwards, she deposits the check into her personal checking account. The taxable portion of each annuity payment is calculated using which method? What is issued to each employee of an employerhealth plan? 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? Pay for Medicare charges exceeding the approvedamount. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? Introducing Cram Folders! 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. 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. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. 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 annuitant is guaranteed to NOT outlive their benefits will a(n). Which of the following is NOT a federal requirement of a qualified plan? 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. Which of the following is true concerning the proceeds of a life insurance policy? Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . In Maryland, a Producer may have his/her license revoked for which of the following acts? How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? Which of the following is an example of defamation? belmont funeral home obituaries barbados 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 Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Eventually, they retire and dissolve the business. As of January 1, 2014, small group health insurance can be rated on the basis of. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. yabombay Flashcards | Quizlet In a group health care, what is the purpose of the coordination of benefits provision? 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. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? a. Mustmeet certain underwriting guidelines. By Posted browning 725 pro sporting canada Which disability policy provision would address any concerns of the value of the benefits decreasing over time? How many employees must an employer have for a terminated employee to be eligible for COBRA? 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. Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? Which of the following situations would be suitable for a temporary work authority? juin 5, 2022 . How long after its effective date will an individual life insurance policy become incontestable? Which of the following is NOT required in an order from the Commissioner? Maria the agent would like to advertise an annuity product on a highway billboard. Shirley has a $500,000 10-year non-renewable level term life policy. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. HIPPA considers which of the following as "individually identifiable health information"? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? On which date would Sonya have coverage? Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Who is eligible for insurance under a group policy issued to a labor union? Which of the following is NOT considered to be an actof fraud? Which of the following is a reinstatement condition? 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. If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. A doctor who accepts Medicare Assignment agrees to which of the following? Duringthe accumulation period, who can surrender an annuity? An individual who has a hobby racing cars once a month. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. C) Unintentionally misrepresented a material fact on the application. 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 producers secretary who solicits prospects on the telephone Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? 1. Her health policy most likely contains a(n). Under this plan a, Adoption of a child (an uninsured, eligible employee who acquires a new dependent through marriage, birth, or adoption may qualify for special enrollment in a small employer's health benefit plan). Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Which of the following is typically NOT eligible for coverage in a group health policy? Whathappens when an insurance policy is backdated? a producers secretary who solicits prospects on the telephone 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. 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. Which type of disability would be less than total impairment and equal to permanent impairment? What is involved when a life insurance policy has been backdated? The proceeds of this contract could be subject to the claims of. 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. Complete the sentence using each term once. -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 \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? At what age does the open enrollment period typically begin for Medicare Supplement coverage? A newborn is required to be covered for ______ days from the moment of birth. It would be considered taxable income to the employee. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. A minimum of 12 months after date of purchase. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? OGC Opinion No. 05-04-21: Acting as insurance producer without a For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) Hill during her initial calls made to the call center. Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Any decrease in income resulting from this injury would make him eligible for benefits under which provision? 1. Mikehas inherited his fathers traditional IRA. In Maryland, a producer may have his/her license revoked for which of the following acts? When are group disability benefits considered to be tax-free to the insured? An insurance company needs to obtain personal information from a third party concerning an applicant. 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. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. The greater of the accumulated cash value or the total premium paid. What is the primary purpose of a rating service company such as A.M. Best? B. Recieve a tax credit to help offset the cost of health insurance. An amount the premium would have purchased at the correct age. Find out how you can intelligently organize your Flashcards. \\ 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. The death benefit paid will be what the premium would have purchased at the correct age. a producers secretary who solicits prospects on the telephone C. Protects consumers with guidelines regarding creditreporting and distribution. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. 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. Which of these is NOT considered to be a risk factor in life insurance underwriting? A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? D. The face amount and premiumwill remain constant over the 10-year period. B.Change must be initialed by the applicant. Fundingfor Medicare Part B is Partially provided by. 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.
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