(p^1p^2). Which of the following is NOT a circumstance to which a temporary producer license can be issued? One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. This type of agreement is called an. June 5, 2022 . XZY company has applied for group health insurance for its employees. Using derogatory statements about an insurance company's financial condition. Whichof these will have the highest monthly payout upon Annuitization? Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. 5511. In Maryland, a producer may have his/her license revoked for which of the following acts? Whichmarket index is normally associated with an indexed annuitys rate of return? ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. With a past due premium of $100, the insurer pays $400. Whatis the purpose of the medical information Bureau (MIB)? What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Which of the following statements is CORRECT regarding an individual applying for life or health insurance? 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). We weren't able to detect the audio language on your flashcards. 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. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Providing claim payments to insureds under the guidelines of the insurance contract. Which of the following is Medicare Part B also known as? 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. 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. 1. Whatis the elimination period of an individual disability policy? Julie has a $100,000 30-year mortgage on her new home. These rights are called, A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Which course of action must be taken by the Commissioner? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Maria the agent would like to advertise an annuity product on a highway billboard. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Which of the following is NOT required in an order from the Commissioner? You have created 2 folders. Which of the following is the likely result? A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. 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 A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? 1. Fundingfor Medicare Part B is Partially provided by. Whichof the following is a requirement for ANY change in an insurance application? Employee must be able to make unlimited contributions. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Who is eligible for insurance under a group policy issued to a labor union? D.) By providing consumer credit counseling. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. Sonya applied for a health insurance policy on April 1. A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ His policy may be reinstated at any time within _____ years. Which of the following basics is a producer's fiduciary responsibility? There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. Tim's individual life insurance policy has just recently lapsed. Jay the producer is giving insurance advice regarding a prospect's existing coverage. 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. Which of the following statements is TRUE? Which of the following is Medicare Part B also known as? An attending physician's statement would be appropriate for which life insurance purpose? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? The insurer's obligation to pay a death benefit upon an approved death claim, Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. a producers secretary who solicits prospects on the telephone. \\ Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Pay for Medicare charges exceeding the approvedamount. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. If she dies 15 years after the policy's inception date, how much will her beneficiary receive? The death benefit paid will be what the premium would have purchased at the correct age. A. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. & \text{Ending}& \text{Beginning} & \\ Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Which of these describes the change that will take place?A) Coordination of benefitsB) ConversionC) Extension of benefitsD) Rollover, Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.A) policyB) certificateC) applicationD) rider. A producer has recently died and leaves behind a spouse. 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. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. Who would most likely be coveredunder Workers Compensation? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Alimited payment whole life policy provides. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? 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. 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. 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? 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 the following is a reinstatement condition? Elizabethis the beneficiary of a life insurance policy. licensed producers not appointed by an insurer. Duringthe accumulation period, who can surrender an annuity? Kathy pays a monthly premium on her health insurance policy. 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. a producers secretary who solicits prospects on the telephone. Which of the following is CORRECT regarding the death benefit amount. An individual can enroll in a Part C Medicare Advantage Plan at what time? Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? A newborn is required to be covered for ______ days from the moment of birth. One of. AMaryland insurance producer solicits an insurance policy. who would be responsible for the prosecution of this crime? This rider is called a(n). 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. The proceeds of this contract could be subject to the claims of. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. 1. 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. Which of the following is NOT a required provision in an accident and health insurance policy? Complete the sentence using each term once. It would be considered taxable income to the employee. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. Which type of life insurance policy is this? James is the insured on a life insurance policy where his age was misstated on the application. 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? The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Which of these is affected by the frequency of an insurance policy's premium payments? B.) D.) Intentionally violated state insurance laws. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. 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. Who regulates the quality care provided by a health maintenance organization (HMO)? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. The type of annuity she is seeking is called? What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? a. Mustmeet certain underwriting guidelines. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). Maria would like an annuity that provides a guaranteed accumulation or payout. What happens to the coverage under a children's term rider when that child reaches a certain specified age? In Maryland, a Producer may have his/her license revoked for which of the following acts? Which of the following is required for an insurer to conduct business in this state? What happens when an insurance policy is backdated? A. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. 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.

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