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. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. The Healthcare Insurance Exchange offers plans for everyone. B. Recieve a tax credit to help offset the cost of health insurance. Vaginal plastic surgery is made up of two main procedures, external and . Which of these will typically authorize treatment from a specialist? Which course of action must be taken by the Commissioner? \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Which of the following statements is TRUE? 1. Which of these is NOT a characteristic of the Accelerated Death Benefit option? Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Engaged in a fraudulent insurance practices. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. This change is called a(n). A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. What is issued to each employee of an employerhealth plan? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. Which type of disability would be less than total impairment and equal to permanent impairment? In what part of insurance policy benefits found? Which of the following is TRUE regarding the federal income tax? D. Willfullycollecting a premium that exceeds the amount of the actual premium. Howdoes one become eligible for part D: Prescription Drug Coverage? What is the primary purpose of a rating service company such as A.M. Best? Changing from one occupation to another at the same general status is called _____. Whichscenario would most life insurance policies exclude coverage for? An annuitant is guaranteed to NOT outlive their benefits will a(n). C.) Unintentionally misrepresented a material fact on the application. Which of the following may be used as continuation education credit? Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) What may be the result of replacing an existing life insurance policy with a new one? A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? What is the purpose of having an accelerated death benefit on a life insurance policy? In a group health care, what is the purpose of the coordination of benefits provision? MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. Former dependent of employee no longer ofdependent status. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). 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. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. The taxable portion of each annuity payment is calculated using which method? a producers secretary who solicits prospects on the telephone. Which of the following is an example of defamation? Percent frequency distribution for key variables. Kathysannuity is currently experiencing tax-deferred growth until she retires. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Hill during her initial calls made to the call center. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. Benefits for a Medicare Supplement policy. c. Travel accidental insurance premiums. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. pain between 4th and 5th metatarsal. An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A license MUST notify the Commissioner of an address change with ___ Days of the change. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. 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. Craig submits a $500 claim for medical expenses. Whichof the following is a requirement for ANY change in an insurance application? The right-to-examine period in Maryland for long-Term Care polices is ___ days. audio not yet available for this language. EXECUTIVE SUMMARY. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). A separate converted policy may, at the option of the insurance company, be issued to cover an. Which of thesestatements is true? Please sign in to share these flashcards. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? Term, Whole, and universal lifeinsurance. 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. Which of the following is typically NOT eligible for coverage in a group health policy? Which of these riders will pay a death benefit if the insured's spouse dies? Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Course Hero is not sponsored or endorsed by any college or university. What is this an example of? 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. May 2020. Who is eligible for insurance under a group policy issued to a labor union? Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? 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. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. 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. 1. A minimum of 12 months after date of purchase. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? This is called a. Using derogatory statements about an insurance company's financial condition. Which of the following is NOT a circumstance to which a temporary producer license can be issued? An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. What is created after policy proceeds areobtained in a lump sum and then immediately invested? On which date would Sonya have coverage? A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. D. The face amount and premium will remain constantover the 10-year period. You have created 2 folders. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Which rider would pay a monthly amount because of this disability? 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. The policies continue in force with no change. A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. Which of these is affected by the frequency of an insurance policy's premium payments? Which of the following must be included in the advertisement? To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. 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? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) Which of the following would be the appropriate tax consequence? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Providing claim payments to insureds under the guidelines of the insurance contract. A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists.