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. 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. The legal action provision in a health contract is limited to no more than ___ years. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. 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. Elizabethis the beneficiary of a life insurance policy. D. Administered by the federal government. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. The face amount and the premium will remain constant over the 10-year period. She paid the premium on May 15 with the policy indicating the effective date being May 30. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Jay the producer is giving insurance advice regarding a prospect's existing coverage. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org In some cases, NDRC also solicits the opinions of relevant Chinese industrial regulators and consulting agencies, which may include industry associations that represent Chinese domestic firms. 1. Duringthe accumulation period, who can surrender an annuity? An individual can enroll in a Part C Medicare Advantage Plan at what time? We weren't able to detect the audio language on your flashcards. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Determine whether the discriminant is positive, negative, or zero. a producers secretary who solicits prospects on the telephone Duringthe accumulation period, who can surrender an annuity? After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? what happened to amy bailey happy healthy humble . June 24, 2022 . 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. Whendoes a life insurance policy typically become effective? It would be considered taxable income to the employee. \\ A. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. How often must an insurance producer's license in Maryland be renewed? The death benefit paid will be what the premium would have purchased at the correct age. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? How many employees must an employer have for a terminated employee to be eligible for COBRA? Its balance sheet for this year is as follows: EndingBeginningBalanceBalanceCashandcashequivalents$48,000$57,000Accountsreceivable41,00044,000Inventory55,00050,000Totalcurrentassets144,000151,000Property,plant,andequipment150,000140,000Lessaccumulateddepreciation50,00035,000Netproperty,plant,andequipment100,000105,000Totalassets$244,000$256,000Accountspayable$32,000$57,000Incometaxespayable25,00028,000Bondspayable60,00050,000Commonstock70,00060,000Ratainedearnings57,00061,000Totalliabilitiesandstockholdersequity$244,000$256,000\begin{array}{l c c} Please upgrade to Cram Premium to create hundreds of folders! 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. Which law do all insurers and their producers need to comply with? AnIndividual can enroll in a part C Medicare Advantage Plan at what time? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Term, Whole, and universal lifeinsurance. 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. D. The face amount and premium will remain constantover the 10-year period. \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ At what age does the open enrollment period typically begin for Medicare Supplement coverage? A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. OGC Opinion No. 05-04-21: Acting as insurance producer without a Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. Erica is 35 years old and owns an IRA. Which of the following is NOT a federal requirement of a qualified plan? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Policyowners from misrepresentations and loss of benefits, Replacement regulation is designed to protect, A producer must notify the Commissioner within _____ days of a felony conviction, Dependent children under a health insurance plan must be provided coverage up to age, written authorization from the proposed insured, Prior to conducting an HIV-related test, the insurer must obtain, An insurance producer agrees to pay the first monthly premium for an insurance applicant. belmont funeral home obituaries barbados Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. 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. Which type of contract may NOT be issued by an insurance company? Whathappens when an insurance policy is backdated? B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. a producers secretary who solicits prospects on the telephone 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. Which of the following may be used as continuation education credit? The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? 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. Howdoes one become eligible for part D: Prescription Drug Coverage? How often must an insurance producer's license in New Jersey be renewed? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? a producers secretary who solicits prospects on the telephone An agent is required to keep replacement forms on file for at LEAST _____ years, When a Medicare supplement policy is purchased during the open enrollment period, The policy must be issued regardless of health status, Have it's content approved by the Insurance Commissioner. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Which of these statements is true? \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ A whole life policy option where extended term insurance is selected is called a(n). d. Individual disability income insurance premiums. Which of these is NOT considered to be a risk factor in life insurance underwriting? Which type of disability would be less than total impairment and equal to permanent impairment? (p^1p^2). Paul has a (n), Failingto Promptly provide a reasonable explanation for the denial of a claim is conservedto be a(n), AnHMO that involves a partnership of physicians and other providers who practiceout of a central facility is called a(n), Smallemployers who are spooned by an insurer to provider group benefits to itsemployees are called. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? a producers secretary who solicits prospects on the telephone Sonya applied for a health insurance policy on April 1. She recently replaced the policy with a new one that provides better coverage. Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. a producers secretary who solicits prospects on the telephone B. Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. 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. Add to folder a. 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. What will the beneficiary receive if an annuitant dies during the accumulation 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? a. Mustmeet certain underwriting guidelines. Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. 1. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? C. Remain of their current coverage for 30 months. Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? D. Willfullycollecting a premium that exceeds the amount of the actual premium. One of. 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. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. 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. Determines what is paid by the primary and secondary insurers in the event of a claim, A producer has recently died and leaves behind a spouse. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Peter Griffith, Funeral Director of Lyndhurst Funeral Home. A beneficiary has just received a claim payment for a life insurance policy. by geriford27, Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). 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. 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. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. D. Licensedproducers not appointed by an insurer. Which of these premium payment frequencies is not typically available to a policy owner? ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. What is issued to each employee of an employerhealth plan? What happens to coverage under a children's term rider when that child reaches a certain specified age? The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Atax-free 1035 Exchange of a life insurance policy to a different policy ispermitted if it occurs, A. Inthe same state as the original transaction, C. Frominsurer to insurer and no cash is received by the policy owner, D. Fromagent to agent as long as the agents are licensed in the same line. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. An amount the premium would have purchased at the correct age. 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 A life insurance policy sold in Maryland can be cancelled for nonfraudulent misstatements for up to, A person who has a contract with an insurance company to represent it, To a licensed producer who is appointed with the insurer. It is health insurance for the elderly. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? Which of the following does Medicare Part D cover? To be classified as a small employer, an employer must NOT have more than _________ eligible employees, The _______ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant, During the examination of an insurer's books and records by the Commissioner, the insurer, remain in effect until a new one is issued, John the insurance producer has an insurance license that expires in 6 months. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. Tara the producer is delivering a specified disease insurance policy to a new policyowner. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? No federal income tax is owed on life insurance proceeds, A non-contributory health insurance plan helps the insurer avoid, States that have "no loss no gain" laws require a replacing policy to, Pay for ongoing claims under the policy it replaces. Howdo interest earnings accumulate in a deferred annuity? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? What is the purpose of the Medical Information Bureau (MIB)? When an applicant passes a licensing examination and answers all background questions negatively. As beneficiary, he will pay__taxeson any money withdrawn. a producers secretary who solicits prospects on the telephone. A life insurance replacement gives the policyowner the right to return the policy for a 100% refund within _____ days of policy delivery, A producer MUST maintain insurance transaction records for a minimum of ____ years.

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