Whichscenario would most life insurance policies exclude coverage for? 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. 1. Which of these will typically authorize treatment from a specialist? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Healthinsurance will typically cover which of the following perils? A. Whatdoes the word Level in level term describe? The greater of the accumulated cash value or the total premium paid. The two plans are fee-for-service and. Whathappens when an insurance policy is backdated? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Which of the following is an example of fraud? 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. is one of the oldest and best known of all Barbadian funeral establishments. 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. Which of the following would have the HIGHEST premium? Upon delivery, she may be expected to collected all of the followingEXCEPT a(n), B. Signedimpairment rider acknowledgement, C. Modifiedapplication with a new signature, Oneof the most important considerations when replacing health insurance would bethe. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. a producer's secretary who solicits prospects on the telephone. Producers must complete a total of ____ continuing education credits for each two-year licensing period. Which of the following is CORRECT regarding the death benefit amount. C. Remain of their current coverage for 30 months. 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. An insurer may pay a commission in which of the following scenarios? \\ Which type of life insurance policy is this? a. Mustmeet certain underwriting guidelines. Registered for the state insurance examination. The law that established insurance transactions regulated by the states is called. Please select the correct language below. The names of the insurance companies represented by the producer. juin 5, 2022 . The proceeds of this contract could be subject to the claims of. How long is her grace period? Peter Griffith, Funeral Director of Lyndhurst Funeral Home. The company did not retire any bonds or repurchase any of its own common stock during the year. Which of the following is a reinstatement condition? Whatis the primary reason for buying an annuity? As beneficiary, he will pay ____ taxes on any money withdrawn. Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? What is the purpose of a disability income benefit? Which of thesestatements is true? B.Canceling a term life policy to buy a whole life policy. Which military service exclusion clause would pay upon his death? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. 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. The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). Under a Traditional IRA, Interest earned istaxed. If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner? Ahealth care provider claim may be settled using which of the following paymentmethods? What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? The rider is called a(n), All if these are valid options for an adjustable life policy except, A non forfeiture option can be used to increase the death benefit. The policy automatically converts to whole lifeafter the 10-year period, B. A. On which date would Sonya have coverage? Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Engaged in a fraudulent insurance practices. 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. Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid, A producer who shares commissions with a client. Which of these is NOT an Unfair Claims Settlement Practice? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) The type of annuity she is seeking is called? What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period? How much does Medicare Part B pay for physician fees? C. Normally graded over a period of 20 years. C) Unintentionally misrepresented a material fact on the application. 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. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Chapter 8 Texas Laws and Rules Pertinent to I, NY state insurance license practice exam ques, Chapter 16: Private Insurance Plans for Senio, Totalliabilitiesandstockholdersequity, Fundamentals of Financial Management, Concise Edition, Anexo del Real Decreto 1630/2006 Educacin in. D. Assist an insurer in determine an applicantscreditworthiness. 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. The death benefit paid will be what the premium would have purchased at the correct age. 1. 5511. Whichtype of injury would NOT be covered under a health insurance policy? 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. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. Whichof these benefit options would he choose? C.) Unintentionally misrepresented a material fact on the application. Who would most likely be coveredunder Workers Compensation? Frank is shopping for a disability income policy. Sonya applied for a health insurance policy on April 1. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. B.) \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ An individual can enroll in a Part C Medicare Advantage Plan at what time? It is health insurance for the elderly. 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} How many employees must an employer have for a terminated employee to be eligible for COBRA? A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Howdo interest earnings accumulate in a deferred annuity? James is the insured on a life insurance policy where his age was misstated on the application. A master contract and certificate of coverage can be found in which type of policy? how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . 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). Fundingfor Medicare Part B is Partially provided by. Mark continues working after the age of 65 and is covered through his employer's group health plan. The producer decides not to respond. Benefits for a Medicare Supplement policy. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? We'll bring you back here when you are done. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? Which of the following is required for an insurer to conduct business in this state? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". 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? In event of acontroversy between the insured and the company, the producer is considered to representthe. Submit to the replacing insurer a list of the policies to be replaced. By Posted browning 725 pro sporting canada An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. Whichof these will have the highest monthly payout upon annuitization? 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. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. Which of the following is TRUE regarding the federal income tax? 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. a. A whole life policy option where extended term insurance is selected is called a(n). A. 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. Whowere Keogh Plans designed to provide pension benefits for? 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. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? It would be considered taxable income to the employee. What happens to coverage under a children's term rider when that child reaches a certain specified age? Which of the following actions by a producer would NOT result in a license suspension or revocation? What types of life insurance are normally usedfor key employee indemnification? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? What happens to the coverage under a children's term rider when that child reaches a certain specified age? Whichof these will have the highest monthly payout upon Annuitization? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Which of the following statements is CORRECT regarding an individual applying for life or health insurance? A closed network plan offers a primary physician copay of $25. The Premium for a Modified whole life policy is: A. 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 these is NOT a characteristic of the Accelerated Death Benefit option? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? 1. 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. An individual who has a hobby racing cars once a month. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Must be bonded through the state. You have created 2 folders. Which course of action must be taken by the Commissioner? 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. Duringthe accumulation period, who can surrender an annuity? How often must an insurance producer's license in Maryland be renewed? 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. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . What will the beneficiary receive if an annuitant dies during the accumulation period? Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). 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 beneficiary has just received a claim payment for a life insurance policy. An insurer formed according to the legal requirements of another country is called an. 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. Which of the following is typically NOT eligible for coverage in a group health policy? Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. \\ A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. This is an unlawful practice known as, must be delivered with or prior to policy delivery. Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. 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. 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. How long is the Contestable period for health insurance policies sold in Maryland? Which of the following statements is TRUE about Medicaid? What would be an expense factor in a insurance program? When is an existing health insurance policy required to provide coverage for a new born child? Which of the following is NOT a required provision in an accident and health insurance policy? Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). 1. A producer has recently died and leaves behind a spouse. a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . 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? Whichmarket index is normally associated with an indexed annuitys rate of return? Which of these is NOT considered to be a risk factor in life insurance underwriting? \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ What is issued to each employee of an employerhealth plan? What is the purpose of the Medical Information Bureau (MIB)? Which of these will typically authorize treatment from a specialist? 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.
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