1. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? In a group health care, what is the purpose of the coordination of benefits provision? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? XZY company has applied for group health insurance for its employees. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. 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. Within how many days must a producerreport to the commissioner any administrative actions made against him/her? 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. A life insurance replacement gives the policyowner the right to return the policy for a 100% refund within _____ days of policy delivery, A producer MUST maintain insurance transaction records for a minimum of ____ years. Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. An annuitant is guaranteed to NOT outlive their benefits will a(n). Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Pierre the producer receives a premium for an individual health insurance policy. 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. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. D.) By providing consumer credit counseling. C. Funded by federal, state, and local taxes. What is the purpose of a disability income benefit? C. Normally graded over a period of 20 years. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Bob dies 12 months later. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Find out how you can intelligently organize your Flashcards. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Which of the following must be included in the advertisement? 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? is one of the oldest and best known of all Barbadian funeral establishments. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. How often must an insurance producer's license in Maryland be renewed? Which of the following is present when an applicant stands to lose value if the insured dies? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. a producers secretary who solicits prospects on the telephone. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Continued coverage under COBRA would be providedto all of the following EXCEPT: a. This illustration MUST disclose that. The proceeds of this contract could be subject to the claims of, The Food and Drug Administrationapproved prescription drugs for treatment as stated on the drugs labeling. Which of the following does Coordination of Benefits allow? Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. We weren't able to detect the audio language on your flashcards. In which of the following relationship would there NOT be an insurable interest? Maria the agent would like to advertise an annuity product on a highway billboard. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Which of the following statements is TRUE? D.) Intentionally violated state insurance laws. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. An individual who has a hobby racing cars once a month. A producer is meeting with a client to determine whether an annuity would be suitable for purchase. -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 When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Which situation accurately describes a reduced paid-up nonforfeiture option? A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. Which of the following is NOT required in an order from the Commissioner? Kathysannuity is currently experiencing tax-deferred growth until she retires. D. Adjustable, permanent, and limited-pay lifeinsurance. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? A closed network plan offers a primary physician copay of $25. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. CashandcashequivalentsAccountsreceivableInventoryTotalcurrentassetsProperty,plant,andequipmentLessaccumulateddepreciationNetproperty,plant,andequipmentTotalassetsAccountspayableIncometaxespayableBondspayableCommonstockRatainedearningsTotalliabilitiesandstockholdersequityEndingBalance$48,00041,00055,000144,000150,00050,000100,000$244,000$32,00025,00060,00070,00057,000$244,000BeginningBalance$57,00044,00050,000151,000140,00035,000105,000$256,000$57,00028,00050,00060,00061,000$256,000. Registered for the state insurance examination. Craig submits a $500 claim for medical expenses. A master contract and certificate of coverage can be found in which type of policy? 14 day waiting period / 10 year benefit period. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? The ________ has the right to renew a small employer health plan. Under a Traditional IRA, Interest earned istaxed. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Re: Acting as insurance producer without a license Questions Presented 1. Eventually, they retire and dissolve the business. How many months can a life insurance policy normally be backdated from the date of application? The policy automatically converts to whole lifeafter the 10-year period, B. To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. Which type of contract may NOT be issued by an insurance company? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? Their offer/administration. who would be responsible for the prosecution of this crime? Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. 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. Whowere Keogh Plans designed to provide pension benefits for? 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. 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} 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? As beneficiary, he will pay ____ taxes on any money withdrawn. Determines what is paid by the primary and secondary insurers in the event of a claim, A producer has recently died and leaves behind a spouse. Find out how you can intelligently organize your Flashcards. B.Change must be initialed by the applicant. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ An attending physician's statement would be appropriate for which life insurance purpose? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ This is called a. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? When is an existing health insurance policy required to provide coverage for a new born child? 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). 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. Which of these is affected by the frequency of an insurance policy's premium payments? June 24, 2022 . 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. licensed producers not appointed by an insurer. In the event of a controversy between the insured and the company, the producer is considered to represent the, A life policy loan in Maryland cannot charge a fixed rate of interest higher than, The Food and Drug Administration approves prescription drugs for treatment as stated on the drug's labeling. An individual can enroll in a Part C Medicare Advantage Plan at what time? Which of the following is NOT information found in a life insurance buyer's guide? Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. D. The face amount and premium will remain constantover the 10-year period. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? What are the levels of coverage as defined by the Affordable Care Act? 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). Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. 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). Erica is 35 years old and owns an IRA. Atax-free 1035 Exchange of a life insurance policy to a different policy ispermitted if it occurs, A. Inthe same state as the original transaction, C. Frominsurer to insurer and no cash is received by the policy owner, D. Fromagent to agent as long as the agents are licensed in the same line. This is an unlawful practice known as, must be delivered with or prior to policy delivery. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? a. Mustmeet certain underwriting guidelines. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? c. Solve the equation f(x)=0, if possible. This type of agreement is called an. 1. Employee must be able to make unlimited contributions. Under a life insurance policy, what does the insuring clause state? An insurer may pay a commission in which of the following scenarios? A. Which of the following is NOT a circumstance to which a temporary producer license can be issued? Within how many days must a producer notify the Department of Banking and Insurance of a change in address? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. You have created 2 folders. A. B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. 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. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. Which of the following is NOT considered to be an act of fraud? B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. The Premium for a Modified whole life policy is: A. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? 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). To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. It would be considered taxable income to the employee. In this situation, who will receive Bob's policy proceeds? a producers secretary who solicits prospects on the telephone. Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? How often must an insurance producer's license in Maryland be renewed? by . Fundingfor Medicare Part B is Partially provided by. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? How soon can the benefit payments begin with a deferred annuity? The legal action provision in a health contract is limited to no more than ___ years. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. In order for the producer's insurance business to continue, the Commissioner may issue to the producer's spouse a has a mental or physical handicap and remains dependent on the parent A dependent child may remain on a parent's health insurance plan beyond age 26 if the child 60 Which of these may NOT be used in a health insurance advertisement? cuanto gana un pintor de autos en estados unidos . B. Gainsare tax exempt at distribution. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? 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. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Which of these statements is true? You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. Which of the following would have the HIGHEST premium? 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.