A producer has recently died and leaves behind a spouse. Collecting a chargefor insurance that is less than the charge applicable to that insurance. Bob dies 12 months later. 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. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? The proceeds of this contract could be subject to the claims of. An error was made on Erica's life insurance application. Whoassumes the investment risk with a fixed annuity contract? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. What types of life insurance are normally usedfor key employee indemnification? Reggie purchased a life insurance policy with a face amount of $500,000. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. 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. Which of the following is NOT part of an insurance contact? 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. Kathysannuity is currently experiencing tax-deferred growth until she retires. All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. Mark continues working after the age of 65 and is covered through his employer's group health plan. Whatdoes the word Level in level term describe? Which of these if NOT considered to be a purpose of an annuity? The replacing policy may only impose a ____ month time exclusion for pre-existing conditions, forward premiums to the insurer on a timely basis, When collecting insurance premiums from a client, a producer MUST, Once a health insurance policy has been in force for _______ years, the policy may NOT be contested by the insurer, cancelling a term life policy to buy a whole life policy, All of these types of benefits may be covered by a nonprofit health service plan EXCEPT, have it's content approved by the commissioner. Which of these is likely to occur when life or health insurance is being applied for? a producers secretary who solicits prospects on the telephone Call us (+254) 722 22 99 44 Email polucon@polucon.com Our Laboratories Nairobi & Mombasa fort worth murders 1990s Home Services a producers secretary who solicits prospects on the telephone Micro-Biology Services Agri - Services Instrumentation Division Environment Division D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Which of these riders will pay a death benefit if the insured's spouse dies? How many employees must an employer have for a terminated employee to be eligible for COBRA? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. Howsoon can the benefit payments begin with a deferred annuity? Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. What does the word "level" in Level Term describe? Which of these is NOT a characteristic of the Accelerated Death Benefit option? Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? A newborn is required to be covered for ______ days from the moment of birth. 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. Determine whether there are 0,1 , or 2 real solutions to f(x)=0. \end{array} Replacement regulation is designed to protect the interests of, A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called. 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. Frank is shopping for a disability income policy. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. The death benefit paid will be what the premium would have purchased at the correct age. Whowere Keogh Plans designed to provide pension benefits for? A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. What may be the result of replacing an existing life insurance policy with a new one? A. This change is called a(n). Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. D. Licensedproducers not appointed by an insurer. How to take legal action against an insurance company. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? On which date would Sonya have coverage? What is this an example of? 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. 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. Which military service exclusion clause would pay upon his death? Within how many days must a producer notify the Department of Banking and Insurance of a change in address? 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. 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. b. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador a producers secretary who solicits prospects on the telephone Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. 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 producers secretary who solicits prospects on the telephone 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? If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? Which of the following is true concerning the proceeds of a life insurance policy? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Inwhich of the following situations would the insurer be liable for a loss? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? 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. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. The producer decides not to respond. Annuities are intended to create an estate. A minimum of 12 months after date of purchase. Please upgrade to Cram Premium to create hundreds of folders! What is the contract called that is issued to an employer for a Group Medical Insurance plan? Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? What are the levels of coverage as defined by the Affordable Care Act? 1. B.) a producers secretary who solicits prospects on the telephone 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. Whichtype of injury would NOT be covered under a health insurance policy? A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. Which of the Uniform Optional Provisions covers this situation? the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. A doctor who accepts Medicare Assignment agrees to which of the following? 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. James is the insured on a life insurance policy where his age was misstated on the application. \\ 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. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Which of the following is NOT part of an insurance contract? 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. 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. 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. Which of the following must be included in the advertisement? The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. a producers secretary who solicits prospects on the telephone. Which entity is responsible for processing insurance advertising in New Jersey? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. What is the primary purpose of a rating service company such as A.M. Best? Which type of contract may NOT be issued by an insurance company? Which of the following does Medicare Part D cover? Which of the following is Medicare Part B also known as? How much does Medicare Part B pay forphysician fees? You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. a producers secretary who solicits prospects on the telephone \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ What is the required action to be taken by a Maryland licensee before operating under an assumed business name? How much does Medicare Part B pay for physician fees? The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. As of January 1, 2014, small group health insurance can be rated on the basis of. D.) Intentionally violated state insurance laws. Who is the individual paid on a fee-for-service basis? It is health insurance for the elderly. A master contract and certificate of coverage can be found in which type of policy? & \text{Ending}& \text{Beginning} & \\ The right-to-examine period in Maryland for long-Term Care polices is ___ days. 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? Tim's individual life insurance policy has just recently lapsed. OGC Opinion No. 05-04-21: Acting as insurance producer without a The ________ has the right to renew a small employer health plan. How often must an insurance producer's license in Maryland be renewed? Duringthe accumulation period, who can surrender an annuity? 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. 1. Financial report from the previous year. 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. When initial premium is collected and policy is issued. The Healthcare Insurance Exchange offers plans for everyone. Former dependent of employee no longer ofdependent status. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. Julie has a $100,000 30-year mortgage on her new home. C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. This is an unlawful practice known as, must be delivered with or prior to policy delivery. \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ Which of the following is NOT considered to be an actof fraud? {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? 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. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Maria has committed what crime? A. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. Afterwards, she deposits the check into her personal account. Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? Who would make the final determination on whether or not an insurance advertisement is misleading?
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