How long after its effective date will an individual life insurance policy become incontestable? Which of the following would be considered a "dependent child"? Please upgrade to Cram Premium to create hundreds of folders! b. Maria would like an annuity that provides a guaranteed accumulation or payout. Pierre the producer receives a premium for an individual health insurance policy. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Whichtype of injury would NOT be covered under a health insurance policy? Frank is shopping for a disability income policy. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Which military service exclusion clause would pay upon his death? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. She recently replaced the policy with a new one that provides better coverage. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. Under a Traditional IRA, Interest earned istaxed. Jay the producer is giving insurance advice regarding a prospect's existing coverage. 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 s is payable MUST disclose, All of the following is considered a form of advertising EXCEPT. Which of these will typically authorize treatment from a specialist? Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. The company did not retire any bonds or repurchase any of its own common stock during the year. Which of the following is NOT considered to be an actof fraud? The Healthcare Insurance Exchange offers plans for everyone. Which of the following statements is TRUE about Medicaid? In a group health care, what is the purpose of the coordination of benefits provision? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. 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. An individual can enroll in a Part C Medicare Advantage Plan at what time? Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. New Jersey Department of Banking Insurance, A limited payment whole life policy provides, All advertisements for health insurance shall make clear the identity of the, The double indemnity provisions in a life insurance policy pertains to an insured's death caused by a. Mike has inherited his father's traditional IRA. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? Johan the producer charged a fee to a sales prospect for analyzing insurance coverages A written statement describing the elements of a policy is called, All of the following are considered appropriate uses of life insurance for business purposes EXCEPT, Protecting the business by covering entry level employees with life insurance, An insured individual and the policy's beneficiary die from the same accident. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Write a sentence explaining its significance to the executive branch. In what form do disability income policies typically pay benefits? \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu 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. 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. An insurance company's trademark instead of the company's actual name, Using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy, Field underwriting performed by the producer involves, Completing the application and collecting initial premium. In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. 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. Both partners are still married at the time of Bob's death. The policyholder for a group health benefit plan is considered to be the, A Medicare Supplement policy can be cancelled by the insurer for, As of January 1, 2007, producer's license expires, Every two years on the last day of the producer's birth month, An insurer has the right to recover payment made to the insured from the negligent party. 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. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Whoassumes the investment risk with a fixed annuity contract? Claims for a Long-Term Care policy MUST be paid for which of the following conditions? 2.1.1 6 Whole life Insurance in Malaysia What happens to the 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. The two plans are fee-for-service and. The death benefit paid will be what the premium would have purchased at the correct age. A debtor may receive Credit Life insurance in which of the following forms? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. What may be the result of replacing an existing life insurance policy with a new one? licensed producers not appointed by an insurer. 1. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Which of the following actions by a producer would NOT result in a license suspension or revocation? Who regulates the quality care provided by a health maintenance organization (HMO)? d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. \\ Howare annuities given favorable tax treatment? In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Complete the sentence using each term once. How often must an insurance producer's license in New Jersey be renewed? 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. Net death benefit will be reduced if the loan is not repaid. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? The proceeds of this contract could be subject to the claims of. D. Administered by the federal government. Which market index is associated with an indexed annuity's rate of return? A doctor who accepts Medicare Assignment agrees to which of the following? Both May and John are injured. 1. Commissioner may impose an administrative penalty. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. By . The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. cuanto gana un pintor de autos en estados unidos . Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). 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. 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. Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? a producers secretary who solicits prospects on the telephone 12. At what age can she begin to receive distributions without a tax penalty? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Under a life insurance policy, what does the insuring clause state? Which of the following is considered a tax-deductible medical expenseunder this rule? Which of these will typically authorize treatment from a specialist? The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. An insurer formed according to the legal requirements of another country is called an. Course Hero is not sponsored or endorsed by any college or university. Because dividends are considered to be a return of premium. 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. This change is called a(n). Find out how you can intelligently organize your Flashcards. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. 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. Must be bonded through the state. The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Unintentionally misrepresented a material fact on the application. a producers secretary who solicits prospects on the telephone. Over the course of a year, which premium payment mode is most expensive? Employee must be able to make unlimited contributions. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. 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. a producers secretary who solicits prospects on the telephone. Maria has committed what crime? 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 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. a producers secretary who solicits prospects on the telephone. Which of the following basics is a producer's fiduciary responsibility? We'll bring you back here when you are done. The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. In Maryland, a producer may have his/her license revoked for which of the following acts? All Medicare Supplement policies MUST contain which provision? What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? 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This rider is called a(n). An individual can enroll in a Part C Medicare Advantage Plan at what time? Duringthe accumulation period, who can surrender an annuity? A separate converted policy may, at the option of the insurance company, be issued to cover a (n). 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. June 5, 2022 . What would be an expense factor in a insurance program? 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. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. Which of these is NOT an Unfair Claims Settlement Practice? Mark continues working after the age of 65 and is covered through his employer's group health plan. A master contract and certificate of coverage can be found in which type of policy? 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. XZY company has applied for group health insurance for its employees. Engaged in a fraudulent insurance practices. How long is the Contestable Period for health insurance policies sold in Maryland? Assist in the underwriting of insurance policies. AMaryland insurance producer solicits an insurance policy. audio not yet available for this language. Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Howsoon can the benefit payments begin with a deferred annuity? 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 His policy may be reinstated at any time within _____ years. All Medicare Supplement policies MUST contain which provision? 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. 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. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. When does a life insurance policy typically become effective? Re: Acting as insurance producer without a license Questions Presented 1. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. 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. Which of the following is NOT information found in a life insurance buyer's guide? Whichof the following is Medicare Part B also known as? Submit to the replacing insurer a list of the policies to be replaced. What is issued to each employee of an employerhealth plan? How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? Sonya applied for a health insurance policy on April 1. 5511. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. 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? Which of these is affected by the frequency of an insurance policy's premium payments? The Commissioner issues a subpoena to a producer. Which of the following topics needs to be discussed with this client? If an insured dies during the grace period with no premiums paid. On which date would Sonya have coverage? It is health insurance for the elderly. D. Assist an insurer in determine an applicantscreditworthiness. Annuities are intended to create an estate. What is the purpose of a disability income benefit? 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. 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. B.Change must be initialed by the applicant. 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. Which of the following is NOT a duty of the Commissioner? A producer has recently died and leaves behind a spouse. Temporarily Deposit the funds in a personal account. The family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. How soon can the benefit payments begin with a deferred annuity? 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. How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? 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. Registered for the state insurance examination. The Premium for a Modified whole life policy is: A. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Which of these premium payment frequencies is not typically available to a policy owner? B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Whichof these benefit options would he choose? In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? D. Licensedproducers not appointed by an insurer. 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 polices is ___ days. Who is the individual paid on a fee-for-service basis? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? Tarathe producer is delivering a specified disease insurance policy to a new policyowner. A. Benefits for a Medicare Supplement policy. c. Solve the equation f(x)=0, if possible. 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. a producers secretary who solicits prospects on the telephone. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. A. 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. Which of these is likely to occur when life or health insurance is being applied for? An amount the premium would have purchased at the correct age. We understand that this must have been both very frustrating and disappointing. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? June 24, 2022 . 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. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? What amount will be paid under a policy where the insured misstated his/her age? Ahealth care provider claim may be settled using which of the following paymentmethods? How long is the Contestable Period for health insurance policies sold in New Jersey? Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627.