What is this an example of? A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Hill during her initial calls made to the call center. Which of the following is CORRECT regarding the death benefit amount. visas, binomial trials. Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? Ahealth care provider claim may be settled using which of the following paymentmethods? Which of the following is true concerning the proceeds of a life insurance policy? This is called a. Which of these if NOT considered a form of life insurance advertisement? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. Tarathe producer is delivering a specified disease insurance policy to a new policyowner. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. 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. Submit to the replacing insurer a list of the policies to be replaced. Engaged in a fraudulent insurance practices. Pat is insured with a life insurance policy and Karen is his primary beneficiary. a producers secretary who solicits prospects on the telephone Which of the following topics needs to be discussed with this client? HIPPA considers which of the following as "individually identifiable health information"? 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. This illustration MUST disclose that. How to take legal action against an insurance company. Former dependent of employee no longer ofdependent status. Which of the following does Coordination of Benefits allow? She paid the premium on May 15 with the policy indicating the effective date being May 30. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? This rider is called a(n). All of these are standard exclusions found in a life insurance policy EXCEPT. The policy automatically converts to whole lifeafter the 10-year period, B. All Medicare Supplement policies MUST contain which provision? Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. 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. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. ABC Corporation has a group life insurance policy that covers its employees and their dependent children. . A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. A beneficiary has just received a claim payment for a life insurance policy. 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. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. Her health policy most likely contains a(n). \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ 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. Complete the sentence using each term once. Whichmarket index is normally associated with an indexed annuitys rate of return? 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. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Unintentionally misrepresented a material fact on the application. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. 1. During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for$3,000 that had originally cost $6,000 and had accumulated depreciation of$4,000. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. 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. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. Net death benefit will be reduced if the loan is not repaid. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? Whichtype of life insurance is normally associated with a payor benefit rider? What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Add to folder Howdoes one become eligible for part D: Prescription Drug Coverage? How long is her grace period? 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 course of action must be taken by the Commissioner? B. AMaryland insurance producer solicits an insurance policy. 1. Which of the following is NOT a qualification to be licensed as a producer? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. Which of the following is NOT a required provision in an accident and health insurance policy? A producer who sells an individual life insurance policy in Maryland MUST deliver to the policyowner a, Refusing to pay persons bringing false or fraudulent claims, All of these may be an Unfair Claims Practice EXCEPT, is eligible for a Federal tax credit through the SHOP Exchange, An existing health benefit plan offered by a small employer may be replaced by a SHOP Exchange Navigator only if the small employer, An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A producer has recently died and leaves behind a spouse. June 24, 2022 . When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. What is the purpose of the Medical Information Bureau (MIB)? B. what happened to amy bailey happy healthy humble . Mark continues working after the age of 65 and is covered through his employer's group health plan. b. Pat the client interest on any monies held. 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. -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. Collectinga premium for insurance that is not provided. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? How long after its effective date will an individual life insurance policy become incontestable? a producers secretary who solicits prospects on the telephone. c. Solve the equation f(x)=0, if possible. 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 these statements about Medicaid iscorrect? On Social Security disability for over two years, D.Falling below the federal poverty level, D. Falling below the federal poverty level, Field underwriting performed by the producer involves, Completing the application and collecting initial premium, A provision that allows a policy owner to withdraw a policy's cash value interest free is a(n). 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. 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. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Which of the following must be included in the advertisement? 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 Which of the following statements is TRUE about Medicaid? Which of the following is NOT part of an insurance contract? a producers secretary who solicits prospects on the telephone. 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. Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? a producers secretary who solicits prospects on the telephone Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. C) Unintentionally misrepresented a material fact on the application. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Reggie purchased a life insurance policy with a face amount of $500,000. Commissioner may impose an administrative penalty. 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). A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? 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 Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. 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. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? This change is called a(n). Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. Assist in the underwriting of insurance policies. An individual the means to replace wages. The death benefit paid will be what the premium would have purchased at the correct age. 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. Bob and Tom start a business. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? The proceeds of this contract could be subject to the claims of. 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? An annuitant is guaranteed to NOT outlive their benefits will a(n). 1. In event of acontroversy between the insured and the company, the producer is considered to representthe. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. 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. D. Licensedproducers not appointed by an insurer. B.) How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? What does the word "level" in Level Term describe? b. C. Remain of their current coverage for 30 months. How many employees must an employer have for a terminated employee to be eligible for COBRA? Duringthe accumulation period, who can surrender an annuity? The ________ has the right to renew a small employer health plan. His policy may be reinstated at any time within _____ years. 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? Who is eligible for insurance under a group policy issued to a labor union? Both May and John are injured. Tara the producer is delivering a specified disease insurance policy to a new policyowner. 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 she dies 15 years after the policy's inception date, how much will her beneficiary receive? 1. Which of these statements is true? Why are dividends from a mutual insurer not subject to taxation? B.Change must be initialed by the applicant. Which of the following actions by a producer would NOT result in a license suspension or revocation? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. 59 and owned account for a minimum of 10 years, B. licensed producers not appointed by an insurer. An error was made on Erica's life insurance application. The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. Which of the following is an example of fraud? XZY company has applied for group health insurance for its employees. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Juni 2022. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Which of the following is the likely result? Which military service exclusion clause would pay upon his death? Inwhich of the following situations would the insurer be liable for a loss? How much does Medicare Part B pay forphysician fees? 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. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? What is the contract called that is issued to an employer for a Group Medical Insurance plan? Whichof the following is a requirement for ANY change in an insurance application? To be classified as a small employer, an employer mustNOT have more than__ eligible employees. The taxable portion of each annuity payment is calculated using which method? What happens when an insurance policy is backdated? MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. Which of the following is NOT considered to be an act of fraud? 2.1.1 6 Whole life Insurance in Malaysia 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. When are group disability benefits considered to be tax-free to the insured? \end{array} Life insurance policies will. \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\
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