A Whole life policy option where extended terminsurance is selected is called a(n), A provision in a whole life policy that allows apolicy owner to terminate the policy in return for a reduced paid-up policy ofthe same type is called a(N). \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ B. Recieve a tax credit to help offset the cost of health insurance. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. Kathy pays a monthly premium on her health insurance policy. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. . A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. In what part of insurance policy benefits found? Mark continues working after the age of 65 and is covered through his employer's group health plan. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Which of the following is the likely result? Bob dies 12 months later. An applicant's character and personal habits can be obtained for underwriting purposes from which source? Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. Under a Traditional IRA, Interest earned istaxed. At the request of the insurer to assist in the underwriting decision. Howare annuities given favorable tax treatment? Maria would like an annuity that provides a guaranteed accumulation or payout. 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 is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? HIPPA considers which of the following as "individually identifiable health information"? Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? Which of these statements is true? Which of these will typically authorize treatment from a specialist? cuanto gana un pintor de autos en estados unidos . This type of agreement is called an. & \text{Balance}& \text{Balance} & \\ B. If an insured dies during the grace period with no premiums paid. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. 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. 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. Whatis the elimination period of an individual disability policy? Adoctor who accepts Medicare Assignment agree to which of the following ? In the advertising of Individual Life Insurance policies, an "introductory" or "special enrollment" may not be made available until any previous enrollment period for the same policy has been closed for at least how long? The coverage, condition, and limitations in the master policy of a group contract can be found in which document? 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. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ 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. In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. In this situation, who will receive Bob's policy proceeds? Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. New Jersey insurance law requires eligible individuals to make an election to continue health insurance benefits within a MAXIMUM of _____ days after coverage termination, A _____ insurance company is one that was formed under the laws of a state other than New Jersey, All of the following are typically included in a life insurance policy illustration EXCEPT, Claims payable to a Disability Income insured, even when the insured can continue to work, are the result of a. XYZ Corp pays the tax-deductible insurance premiums for a key employee disability policy. visas, binomial trials. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? Which of the following is NOT required in an order from the Commissioner? Which of the following is TRUE regarding the federal income tax? May 2020. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) A minimum of 12 months after date of purchase. June 24, 2022 . Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. Which of these premium payment frequencies is not typically available to a policy owner? With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe the. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Introducing Cram Folders! How many employees must an employer have for a terminated employee to be eligible for COBRA? OGC Opinion No. 05-04-21: Acting as insurance producer without a Juni 2022. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? & \text{Ending}& \text{Beginning} & \\ Whichscenario would most life insurance policies exclude coverage for? Whatis the primary reason for buying an annuity? Submit to the replacing insurer a list of the policies to be replaced. How many months can a life insurance policy normally be backdated from the date of application? EXECUTIVE SUMMARY. 59 and owned account for a minimum of 10 years, B. Which of these will typically authorize treatment from a specialist? With a past due premium of $100, the insurer pays $400. C. Funded by federal, state, and local taxes. what happened to amy bailey happy healthy humble . Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Whichphase is this annuity in? 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. Whichmarket index is normally associated with an indexed annuitys rate of return? If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. C. Remain of their current coverage for 30 months. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. How many days notice must the Commissioner give prior to a hearing? How soon can the benefit payments begin with a deferred annuity? 1. a. Mustmeet certain underwriting guidelines. Inwhich of the following situations would the insurer be liable for a loss? Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. Collecting a chargefor insurance that is less than the charge applicable to that insurance. In event of acontroversy between the insured and the company, the producer is considered to representthe. Which of the following is required for an insurer to conduct business in this state? The right-to-examine period in Maryland for long-Term Care polices is ___ days. Shirley has a $500,000 10-year non-renewable level term life policy. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. The taxable portion of each annuity payment is calculated using which method? Determine whether the discriminant is positive, negative, or zero. Which of the following is NOT part of an insurance contract? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? Because dividends are considered to be a return of premium. A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. \end{array} Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ All Medicare Supplement policies MUST contain which provision? Please select the correct language below. Temporarily Deposit the funds in a personal account. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? 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 _____. 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. Tim's individual life insurance policy has just recently lapsed. After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. 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. d. A covered employee if terminated for grossmisconduct. Julie has a $100,000 30-year mortgage on her new home. Jay the producer is giving insurance advice regarding a prospect's existing coverage. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Which of these is NOT a characteristic of the Accelerated Death Benefit option? Who would be responsible for the prosecution of this crime? Which of the following topics needs to be discussed with this client? a producers secretary who solicits prospects on the telephone \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Complete the sentence using each term once. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? By Posted browning 725 pro sporting canada What does the amount of these credits represent? When initial premium is collected and policy is issued. 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. 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. Vaginal plastic surgery is made up of two main procedures, external and . 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 In Maryland, a producer may have his/her license revoked for which of the following acts? a producers secretary who solicits prospects on the telephone C.) Unintentionally misrepresented a material fact on the application. The Commissioner issues a subpoena to a producer. D. Administered by the federal government. how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . 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? How often must the Commissioner examine each domestic insurance company? EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. Which of the following would have the HIGHEST premium? Which of these if NOT considered to be a purpose of an annuity? Why are dividends from a mutual insurer not subject to taxation? 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? If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? c. Solve the equation f(x)=0, if possible. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Which market index is associated with an indexed annuity's rate of return? A producer's secretary who solicits prospects on the telephone Must be licensed as a producer Which of the following is a requirement for ANY change in an insurance application? What types of life insurance are normally usedfor key employee indemnification? At what age does the open enrollment period typically begin for Medicare Supplement coverage? \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. a producers secretary who solicits prospects on the telephone \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ A producer has recently died and leaves behind a spouse. Which of these is likely to occur when life or health insurance is being applied for? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. All Medicare Supplement policies MUST contain which provision? In which of the following relationship would there NOT be an insurable interest? a producers secretary who solicits prospects on the telephone 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 s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. Afterwards, she deposits the check into her personal account. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. 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. This rider is called a(n). Afterwards, she deposits the check into her personal checking account. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Eventually, they retire and dissolve the business. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? B. Gainsare tax exempt at distribution. Which of the following does Medicare Part D cover? Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? Which of the following is NOT a requirement for soliciting insurance in Maryland? \\ If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? 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. Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. a producers secretary who solicits prospects on the telephone The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. All of these are standard exclusions found in a life insurance policy EXCEPT. 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.) Tara the producer is delivering a specified disease insurance policy to a new policyowner. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? What is the required action to be taken by a Maryland licensee before operating under an assumed business name?
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