How many employees must an employer have for a terminated employee to be eligible for COBRA? A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. A. An applicant's character and personal habits can be obtained for underwriting purposes from which source? An error was made on Erica's life insurance application. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Shirley has a $500,000 10-year non-renewable level term life policy. 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. licensed producers not appointed by an insurer. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. An insurance company needs to obtain personal information from a third party concerning an applicant. Financial report from the previous year. 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 debtor may receive Credit Life insurance in which of the following forms? Pierre MUST remit the premium to his insurer within ___ business days of receipt. It is health insurance for the elderly. What are the levels of coverage as defined by the Affordable Care Act? B.Change must be initialed by the applicant. When does a life insurance policy typically become effective? a producers secretary who solicits prospects on the telephone In a group health care, what is the purpose of the coordination of benefits provision? Vaginal plastic surgery is made up of two main procedures, external and . She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay, Paul is an employee who caught a disease unique to the trade in which he was exposed to. A minimum of 12 months after date of purchase. 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. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Engaged in a fraudulent insurance practices. Which of the following is NOT considered to be an act of fraud? Which of the following topics needs to be discussed with this client? What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? Medical history from the insured may be reviewed and reported, If an insurer receives a notice of claim under an individual health policy, and fails to provide proof of loss forms within 15 days, the insured must, File a written proof of loss, detailing the occurrence, character and extent of loss. Which type of disability would be less than total impairment and equal to permanent impairment? by . Who would most likely be coveredunder Workers Compensation? Continued coverage under COBRA would be providedto all of the following EXCEPT: a. A closed network plan offers a primary physician copay of $25. This type of agreement is called an. 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. 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. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. The proceeds of this contract could be subject to the claims of. What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Which of these is NOT a characteristic of the Accelerated Death Benefit option? D.) Intentionally violated state insurance laws. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. It allows for cash advances to be paid against the death benefit if the insured becomes terminally ill. Who assumes the investment risk in a variable insurance contract? His policy may be reinstated at any time within _____ years. Eventually, they retire and dissolve the business. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? We weren't able to detect the audio language on your flashcards. 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. 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. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? 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. Which of the following is NOT a required provision in an accident and health insurance policy? Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? A. EXECUTIVE SUMMARY. Duringthe accumulation period, who can surrender an annuity? Whoregulates the quality of care provided by a health maintenance organization(HMO), a. Secretaryof department of health and mental hygiene, b. NationalAssociation of insurance commissioners, A.Secretary of the department of health and mental hygiene. The policies continue in force with no change. Term, Whole, and universal lifeinsurance. 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. Which of the following is typically NOT eligible for coverage in a group health policy? When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? An individual the means to replace wages. A _______ negotiates an insurance contract on behalf of an insurer, The Entire Contract provision states that an entire contract consists of the actual policy and the, the last day of the licensee's birth month (every two years), A producer's renewal date for his/her resident insurance license is on or before. 1. Which course of action must be taken by the Commissioner? Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Which of these is NOT an Unfair Claims Settlement Practice? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? 1. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? a producers secretary who solicits prospects on the telephone. If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. In event of acontroversy between the insured and the company, the producer is considered to representthe. Which of the following is NOT required in an order from the Commissioner? 1. b. Pat the client interest on any monies held. In which of the following relationship would there NOT be an insurable interest? Pierre the producer receives a premium for an individual health insurance policy. Whowere Keogh Plans designed to provide pension benefits for? Over the course of a year, which premium payment mode is most expensive? A master contract and certificate of coverage can be found in which type of policy? B. Whenthe application is collected and policy is issued, C. Whenthe application is completed and signed, D. Whenthe completed application is signed and initial premium is collected. Under a life insurance policy, what does the insuring clause state? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. 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). \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ A producer may begin to solicit insurance ONLY. Find out how you can intelligently organize your Flashcards. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. Course Hero is not sponsored or endorsed by any college or university. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Which of the following would be the appropriate tax consequence? 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. A producer is meeting with a client to determine whether an annuity would be suitable for purchase. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Which military service exclusion clause would pay upon his death? Whichscenario would most life insurance policies exclude coverage for? Unit 4 Assign Rubric Impact of Colonial Experience (2).pdf, 0B1FC21B-547A-410E-8D8F-64E2A8C35084.jpeg, My Path Assessment Editor _ WorldQuant University.pdf, Oral liquid 50 microgramsml Tablet 625 micrograms 250 micrograms epinephrine, spirit its source is what constitutes religion This can be traced to the, Write in a brief description for the bubbles with underlined words 2 Choose a, BUS 1021 Organizational Behavior (OB) Consulting Assignment.edited11.docx, lOMoARcPSD11771818 True or False The above plot shows clear evidence that the, 2 Non tariff barriers which are further classified into two categories a, CTS115 - Chapter 5 - Case Study - Denial of Service -Moss.docx, The fallacy described as a red herring is most similar to a False cause b, Copy of Algebra Unit 2, Concepts 1, 2, 3.pdf, The model is used to describe the interaction of external forces that affect an, EVM Presentation - Project Management .pptx, What is the shape usually used to refer to the curve that illustrates. 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. All Medicare Supplement policies MUST contain which provision? a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application The standard grace period for a life insurance policy sold in Maryland is. What happens when an insurance policy is backdated? 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. Which of these if NOT considered a form of life insurance advertisement? Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. \end{array} \\ 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. A life policy loan in Maryland cannot charge a fixed rate of interest higher than: A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting, d.) Is not required to be licensed as a producer. All of these are responsibilities of the Commissioner EXCEPT, policy must be issued to XYZ, and a certificate must be issued to each employee, XYZ Corp was issued a group health policy for its employees. Whichof the following is a requirement for ANY change in an insurance application? What is involved when a life insurance policy has been backdated? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Within how many days must a producerreport to the commissioner any administrative actions made against him/her? XZY company has applied for group health insurance for its employees. a producers secretary who solicits prospects on the telephone d. A covered employee if terminated for grossmisconduct. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Which of the following does Coordination of Benefits allow? Which of the following statements is TRUE? The two plans are fee-for-service and. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? The ________ has the right to renew a small employer health plan. Which disability policy provision would address any concerns of the value of the benefits decreasing over time? Commissioner may impose an administrative penalty. Which rider would pay a monthly amount because of this disability? A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Whatdoes the word Level in level term describe? 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. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. Both May and John are injured. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? a producers secretary who solicits prospects on the telephone A. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. 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, Under a small group health plan, an insurer is required to provide a newly-married employee at least ____ days to add the new spouse to the plan, replacing an insurance policy from one insurer to another based on misrepresentation, legible and brief description of the policy on the first page, Each delivered life insurance policy in Maryland MUST include a, The _____________ of Coverage describes policy features, benefits, exclusions, and riders in a Long-Term Care policy, A person who, for a fee, gives advice or recommendations on benefits provided by an insurance contract is called, Child over the age of 18 years who attends an educational institution and relies on the insured employee for financial support. Which of these may NOT be used in a health insurance advertisement? A. Collectinga premium for insurance that is not provided. 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? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). This situation is called, Written notice of a health insurance claim should be given to the insurer within _____ days after the occurrence of any loss covered by the policy, To conduct insurance business in this State, an insurer must be issued a certificate of authority. -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 a producers secretary who solicits prospects on the telephone Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Both partners are still married at the time of Bob's death. Which of these is affected by the frequency of an insurance policy's premium payments? belmont funeral home obituaries barbados What is the primary purpose of a rating service company such as A.M. Best? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Which type of contract may NOT be issued by an insurance company? A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Benefits for a Medicare Supplement policy. How long is the Contestable period for health insurance policies sold in Maryland? 14 day waiting period / 10 year benefit period. 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. Mary ran into John, another employee, who happened to be taking outthe garbage. Howdoes one become eligible for part D: Prescription Drug Coverage? What happens to coverage under a children's term rider when that child reaches a certain specified age? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Which of the following is NOT a requirement for soliciting insurance in Maryland? A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. 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. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Who is the individual paid on a fee-for-service basis? Whichphase is this annuity in? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? 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{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ June 24, 2022 . a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Her agent submitted the information to the insurance company on April 6. A. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? 2.1.1 6 Whole life Insurance in Malaysia A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. How much does Medicare Part B pay forphysician fees? assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. Prospective producer who is waiting to take the state examination. The type of annuity she is seeking is called? Which of the following must be included in the advertisement? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? a producers secretary who solicits prospects on the telephone Which of the Uniform Optional Provisions covers this situation? how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . A licensed producer is required to file notice of any change of address within how many days? What is this an example of? 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? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Who is eligible for insurance under a group policy issued to a labor union? At the request of the insurer to assist in the underwriting decision. Maria has committed what crime? C. Remain of their current coverage for 30 months. by geriford27, The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. If she dies 15 years after the policy's inception date, how much will her beneficiary receive? The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies.

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