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. An annuitant is guaranteed to NOT outlive their benefits will a(n). All of these are standard exclusions found in a life insurance policy EXCEPT. Why are dividends from a mutual insurer not subject to taxation? Whichof these will have the highest monthly payout upon annuitization? Which type of contract may NOT be issued by an insurance company? The statement which best describes the relationship between the relationship between the premiums of a whole life policy and the premium payment period is, The shorter the payment period, the higher the premium. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Which of the following is CORRECT regarding the death benefit amount. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| What is the purpose of the Medical Information Bureau (MIB)? Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. {"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"}}. What happens to the coverage under a children's term rider when that child reaches a certain specified age? Jay the producer is giving insurance advice regarding a prospect's existing coverage. A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe the. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? b. Pat the client interest on any monies held. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Commissioner may impose an administrative penalty. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? She may reinstate her policy within _____ years. Which type of disability would be less than total impairment and equal to permanent impairment? cuanto gana un pintor de autos en estados unidos . 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. If an insured dies during the grace period with no premiums paid. An individual can enroll in a Part C Medicare Advantage Plan at what time? Which of these statements is true? 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. If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. Inwhich of the following situations would the insurer be liable for a loss? Jim recently sold his whole life insurance policy under a critical settlement contract. 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. Duringthe accumulation period, who can surrender an annuity? If the company debited Accounts Receivable and credited Sales for $600,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? Howsoon can the benefit payments begin with a deferred annuity? Both May and John are injured. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". By Posted browning 725 pro sporting canada A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. An insurer may pay a commission in which of the following scenarios? 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. The Healthcare Insurance Exchange offers plans for everyone. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. 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. Advertising material for a life insurance policy does NOT need to contain which of the following? 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. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? 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. Which of the following may be used as continuation education credit? Chapter 8 Texas Laws and Rules Pertinent to I, NY state insurance license practice exam ques, Chapter 16: Private Insurance Plans for Senio, Totalliabilitiesandstockholdersequity, Fundamentals of Financial Management, Concise Edition, Anexo del Real Decreto 1630/2006 Educacin in. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? a producer's secretary who solicits prospects on the telephone. In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. How soon can the benefit payments begin with a deferred annuity? 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. Add to folder How to take legal action against an insurance company. 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. Course Hero is not sponsored or endorsed by any college or university. Pay for Medicare charges exceeding the approvedamount. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Financial report from the previous year. Which law do all insurers and their producers need to comply with? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. XZY company has applied for group health insurance for its employees. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? The death benefit paid will be what the premium would have purchased at the correct age. Which of the following is NOT information found in a life insurance buyer's guide? Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. Which scenario would most life insurance policies exclude coverage for? b. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. Write a sentence explaining its significance to the executive branch. With a past due premium of $100, the insurer pays $400. Who would be responsible for the prosecution of this crime? EXECUTIVE SUMMARY. Whatdoes the word Level in level term describe? In event of acontroversy between the insured and the company, the producer is considered to representthe. What is the contract called that is issued to an employer for a Group Medical Insurance plan? a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. Which of these if NOT considered to be a purpose of an annuity? a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. 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. In what part of insurance policy benefits found? Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? a producers secretary who solicits prospects on the telephone. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? 5511. What is issued to each employee of an employerhealth plan? Whichtype of life insurance is normally associated with a payor benefit rider? A master contract and certificate of coverage can be found in which type of policy? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Whendoes a life insurance policy typically become effective? When are group disability benefits considered to be tax-free to the insured? Which of the following would have the HIGHEST premium? The proceeds of this contract could be subject to the claims of, The Food and Drug Administrationapproved prescription drugs for treatment as stated on the drugs labeling. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? Which of the following must be included in the advertisement? In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? Bob and Tom start a business. 2.1.1 6 Whole life Insurance in Malaysia 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. 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. Pierre MUST remit the premium to his insurer within ___ business days of receipt. What may be the result of replacing an existing life insurance policy with a new one? Benefits for a Medicare Supplement policy. His policy may be reinstated at any time within _____ years. One of. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? If she dies 15 years after the policy's inception date, how much will her beneficiary receive? \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Which of these is likely to occur when life or health insurance is being applied for? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? 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. D. Licensedproducers not appointed by an insurer. D. Level for the first 5 years then decreases forthe remainder of the policy. Please select the correct language below. Who is the individual paid on a fee-for-service basis? June 24, 2022 . What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Producing an inadequate amount of new premium. Prospective producer who is waiting to take the state examination. Tara the producer is delivering a specified disease insurance policy to a new policyowner. 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. 1. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. Temporarily Deposit the funds in a personal account. 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 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.