Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Producers must complete a total of ____ continuing education credits for each two-year licensing period. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? a producers secretary who solicits prospects on the telephone. B. An insurer may pay a commission in which of the following scenarios? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? 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? What happens to coverage under a children's term rider when that child reaches a certain specified age? \\ An applicant's character and personal habits can be obtained for underwriting purposes from which source? Kathysannuity is currently experiencing tax-deferred growth until she retires. Maria has committed what crime? Which of the following statements is TRUE about Medicaid? a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. 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. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Long-term care insurance and Medicare Supplement plans have a free-lock period of ______ days, A ______ insurance company is one that was formed under the laws of a state other than Maryland, they are both licensed in the same line of business, Two producers may share a commission ONLY if, Mary's Medicare Supplement policy had been in effect for 12 months. Which situation accurately describes a reduced paid-up nonforfeiture option? \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ 1. Which course of action must be taken by the Commissioner? 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. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org Our Future You series provides a range of topical advice and guidance via webinars and podcasts. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? It is health insurance for the elderly. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. A master contract and certificate of coverage can be found in which type of policy? Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. 59 and owned account for a minimum of 10 years, B. 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. Which of these is likely to occur when life or health insurance is being applied for? A. An attending physician's statement would be appropriate for which life insurance purpose? How long after its effective date will an individual life insurance policy become incontestable? A. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. Which rider would pay a monthly amount because of this disability? A producer may be disciplined by the Commissioner for which of the following actions? . This type of agreement is called a, The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as, An advertisement for an insurance product may contain, Signing a prospect's name without their knowledge or presence. Howdoes one become eligible for part D: Prescription Drug Coverage? A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? Whathappens when an insurance policy is backdated? 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). Which of these is NOT a characteristic of the Accelerated Death Benefit option? Allof these are considered key factor in underwriting life insurance EXCEPT, Anapplicant intentionally lying to an insurance company on an application inorder to obtain a cheaper premium is an example of. Which of the following must be included in the advertisement? Which of the following is typically NOT eligible for coverage in a group health policy? Using derogatory statements about an insurance company's financial condition. In which of the following relationship would there NOT be an insurable interest? An insurance producer is issued a _____ as evidence of authority. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. What amount will be paid under a policy where the insured misstated his/her age? A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Sonya applied for a health insurance policy on April 1. Percent frequency distribution for key variables. The legal action provision in a health contract is limited to no more than ___ years. Fundingfor Medicare Part B is Partially provided by. a. Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? Peter Griffith, Funeral Director of Lyndhurst Funeral Home. Kathy pays a monthly premium on her health insurance policy. Who would be responsible for the prosecution of this crime? 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. All Medicare Supplement policies MUST contain which provision? Juni 2022. A whole life policy option where extended term insurance is selected is called a(n). a producers secretary who solicits prospects on the telephone. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. (p^1p^2). Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. Which of the following would have the HIGHEST premium? A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. The Premium for a Modified whole life policy is: A. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? As beneficiary, he will pay__taxeson any money withdrawn. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? {"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"}}. cuanto gana un pintor de autos en estados unidos . A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Which type of contract may NOT be issued by an insurance company? Which of these is affected by the frequency of an insurance policy's premium payments? is one of the oldest and best known of all Barbadian funeral establishments. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? She may reinstate her policy within _____ years. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? An amount the premium would have purchased at the correct age. 1. Which of the following is NOT a duty of the Commissioner? 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. As of January 1, 2014, small group health insurance can be rated on the basis of. Course Hero is not sponsored or endorsed by any college or university. This is an unlawful practice known as, must be delivered with or prior to policy delivery. Pierre the producer receives a premium for an individual health insurance policy. Which of the following actions by a producer would NOT result in a license suspension or revocation? Shirley has a $500,000 10-year non-renewable level term life policy. Which of these statements about Medicaid iscorrect? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ A beneficiary has just received a claim payment for a life insurance policy. When is an existing health insurance policy required to provide coverage for a new born child? D. Adjustable, permanent, and limited-pay lifeinsurance. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Who regulates the quality care provided by a health maintenance organization (HMO)? In Maryland, a producer may have his/her license revoked for which of the following acts? Which of the following may be used as continuation education credit? 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.) a producers secretary who solicits prospects on the telephone. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? What does the word "level" in Level Term describe? The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Financial report from the previous year. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. 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. 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. juin 5, 2022 . A separate converted policy may, at the option of the insurance company, be issued to cover a (n). 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. Howsoon can the benefit payments begin with a deferred annuity? The right-to-examine period in Maryland for long-Term Care polices is ___ days. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Which of the following statements is TRUE? We understand that this must have been both very frustrating and disappointing. Which of these may NOT be used in a health insurance advertisement? If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. One of. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Maria the agent would like to advertise an annuity product on a highway billboard. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. Which of the following is Medicare Part B also known as? The taxable portion of each annuity payment is calculated using which method? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Which of the following would be considered a "dependent child"? What is this an example of? 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. 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. 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. The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Which of the following statements is TRUE? Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? C.) Unintentionally misrepresented a material fact on the application. In a group health care, what is the purpose of the coordination of benefits provision? 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. Their offer/administration. What types of life insurance are normally usedfor key employee indemnification? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. 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? Find out how you can intelligently organize your Flashcards. Erica is 35 years old and owns an IRA. 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. Which of the following is the likely result? The entity which issues the certificate of authority is the, A policyowner has _____ days after policy delivery to return a major medical policy for a full refund, make any transactions before being approved for a licence, counsels and advises the Governor on all matters assigned to the Maryland Insurance Administration, A Maryland insurance producer solicits an insurance policy. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? A life insurance policyowner is allowed ____ days upon policy delivery to return the policy for a full premium refund, A producer's license MUST be renewed every _______ years, Collecting a charge for insurance that is less than the charge applicable to that insurance. Whatwould be an expense factor in an insurance program? Former dependent of employee no longer ofdependent status. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? When are group disability benefits considered to be tax-free to the insured? An individual can enroll in a Part C Medicare Advantage Plan at what time? A. At what age can she begin to receive distributions without a tax penalty? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? The producer decides not to respond. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Which of the following is Medicare Part B also known as? Pierre MUST remit the premium to his insurer within ___ business days of receipt. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) Which of the following is NOT part of an insurance contact? 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. Write a sentence explaining its significance to the executive branch. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. On which date would Sonya have coverage? What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. 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. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. 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. 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? At what age does the open enrollment period typically begin for Medicare Supplement coverage? 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? What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of the Uniform Optional Provisions covers this situation? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Which of the following situations would be suitable for a temporary work authority? Craig submits a $500 claim for medical expenses. Within how many days must a producerreport to the commissioner any administrative actions made against him/her? Who is eligible for insurance under a group policy issued to a labor union? A debtor may receive Credit Life insurance in which of the following forms? Which of the following statements is CORRECT regarding an individual applying for life or health insurance? a. Mustmeet certain underwriting guidelines. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? B. What is the purpose of a disability income benefit?