C. Normally graded over a period of 20 years. An error was made on Erica's life insurance application. Which of these will typically authorize treatment from a specialist? who would be responsible for the prosecution of this crime? According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. Both May and John are injured. She would like to borrow $15,000 against the cash value. Maria has committed what crime? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. 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. Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? When does a life insurance policy typically become effective? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? 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. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. Which of these describes the change that will take place?A) Coordination of benefitsB) ConversionC) Extension of benefitsD) Rollover, Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.A) policyB) certificateC) applicationD) rider. The ________ has the right to renew a small employer health plan. Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. a producers secretary who solicits prospects on the telephone Julie has a $100,000 30-year mortgage on her new home. AnIndividual can enroll in a part C Medicare Advantage Plan at what time? Producing an inadequate amount of new premium. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. Whichof the following is Medicare Part B also known as? Which course of action must be taken by the Commissioner? How long is her grace period? Registered for the state insurance examination. 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. -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 As beneficiary, he will pay ____ taxes on any money withdrawn. 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. Which type of life insurance policy is this? a producers secretary who solicits prospects on the telephone. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ Former dependent of employee no longer ofdependent status. B. Gainsare tax exempt at distribution. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? What is the purpose of having an accelerated death benefit on a life insurance policy? a producers secretary who solicits prospects on the telephone Add to folder Determine whether the discriminant is positive, negative, or zero. Alimited payment whole life policy provides. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. Whatdoes the word Level in level term describe? 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. a producers secretary who solicits prospects on the telephone B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. All Medicare Supplement policies MUST contain which provision? Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. by . 1. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. 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. Which option was chosen? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. a producers secretary who solicits prospects on the telephone. Which of the following is the likely result? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) What does the word "level" in Level Term describe? 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. a. Mustmeet certain underwriting guidelines. In a group health care, what is the purpose of the coordination of benefits provision? a producers secretary who solicits prospects on the telephone Welcome To Be Falcon Solutions Website Hotline & WhatsApp : +971556212280 | Landline : +97143873596 , +97167499398 james reynolds obituary popeyes vs chicken express do venmo requests expire yorba linda football maxpreps primary care physicians in cleveland ohio Submit to the replacing insurer a list of the policies to be replaced. To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? a producers secretary who solicits prospects on the telephone. Which of these if NOT considered to be a purpose of an annuity? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Which of the following is NOT a circumstance to which a temporary producer license can be issued? The benefit can be offered as a rider at a specific extra cost or may be at no cost, All of the following are included as part of a contract in the entire contract provision EXCEPT the. C. Remain of their current coverage for 30 months. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. 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. 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. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Under a life insurance policy, what does the insuring clause state? Which of the following is present when an applicant stands to lose value if the insured dies? The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. June 5, 2022 . 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? How much does Medicare Part B pay for physician fees? 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. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? 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. 1. If Jay were to receive a fee for this advice (in addition to his commission), he MUST, Obtain a signed memorandum from the prospect acknowledging the amount of compensation. The company did not retire any bonds or repurchase any of its own common stock during the year. Which of the following is Medicare Part B also known as? What will the beneficiary receive if an annuitant dies during the accumulation period? a producers secretary who solicits prospects on the telephone Whichphase is this annuity in? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Tim's individual life insurance policy has just recently lapsed. a. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Whichof the following is a requirement for ANY change in an insurance application? a producers secretary who solicits prospects on the telephone. What does the amount of these credits represent? A. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. C) Unintentionally misrepresented a material fact on the application. 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. This type of agreement is called an. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. D. Willfullycollecting a premium that exceeds the amount of the actual premium. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ In Maryland, a producer may have his/her license revoked for which of the following acts? A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Which of the following may be used as continuation education credit? Which of the following is NOT part of an insurance contact? What happens to coverage under a children's term rider when that child reaches a certain specified age? Ahealth care provider claim may be settled using which of the following paymentmethods? d. A covered employee if terminated for grossmisconduct. The Healthcare Insurance Exchange offers plans for everyone. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Mark continues working after the age of 65 and is covered through his employer's group health plan. B.) Which of the following is an example of defamation? His policy may be reinstated at any time within _____ years. Which rider would pay a monthly amount because of this disability? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Whatis the purpose of the medical information Bureau (MIB)? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. B. 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. A whole life policy option where extended term insurance is selected is called a(n). June 24, 2022 . 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. Which of the following is NOT a required provision in an accident and health insurance policy? C. Funded by federal, state, and local taxes. audio not yet available for this language. Bob dies 12 months later. Which of these is NOT an Unfair Claims Settlement Practice? In Maryland, a Producer may have his/her license revoked for which of the following acts? Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? Which of thesestatements is true? What is created after policy proceeds areobtained in a lump sum and then immediately invested? 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. An annuitant is guaranteed to NOT outlive their benefits will a(n). D. The face amount and premiumwill remain constant over the 10-year period. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? D. Level for the first 5 years then decreases forthe remainder of the policy. The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? 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. Shirley has a $500,000 10-year non-renewable level term life policy. An individual who has a hobby racing cars once a month. The taxable portion of each annuity payment is calculated using which method? Which of the following statements is CORRECT regarding an individual applying for life or health insurance? Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Which of the following is TRUE regarding the federal income tax? An insurance producer is issued a _____ as evidence of authority. {"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"}}. 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. \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ Employee must be able to make unlimited contributions. Who is the individual paid on a fee-for-service basis? 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. How many months can a life insurance policy normally be backdated from the date of application? Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? A debtor may receive Credit Life insurance in which of the following forms? \end{array} how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . Which of the following is NOT information found in a life insurance buyer's guide? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Which disability policy provision would address any concerns of the value of the benefits decreasing over time? 1. Duringthe accumulation period, who can surrender an annuity? The legal action provision in a health contract is limited to no more than ___ years. A. Collectinga premium for insurance that is not provided. An attending physician's statement would be appropriate for which life insurance purpose? Which market index is associated with an indexed annuity's rate of return? What are the levels of coverage as defined by the Affordable Care Act? b. How often must the Commissioner examine each domestic insurance company? The face amount and the premium will remain constant over the 10-year period. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? 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. 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 By Posted browning 725 pro sporting canada Which of the following is NOT a requirement for soliciting insurance in Maryland? By . b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. 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. Under this plan a, Adoption of a child (an uninsured, eligible employee who acquires a new dependent through marriage, birth, or adoption may qualify for special enrollment in a small employer's health benefit plan). What types of life insurance are normally usedfor key employee indemnification? A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. Which of the following is NOT part of an insurance contract? she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. Bob and Tom start a business. Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? We understand that this must have been both very frustrating and disappointing. belmont funeral home obituaries barbados When are group disability benefits considered to be tax-free to the insured? Pierre MUST remit the premium to his insurer within ___ business days of receipt. 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. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. Find out how you can intelligently organize your Flashcards. Which of these is NOT considered to be a risk factor in life insurance underwriting? Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age, A guaranteed issue insurance policy has no, A single premium cash value policy can be described as, A policy that is paid up after only one payment. 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. Therole of the federal government was expanded when Medicaid was establish byallowing the state to, A. Froma large PPO on a statewide level, B. Purchasehealth insurance from the federal government, C. Receivematching funds to expand public assistance programs, D. Deferall costs to the federal government for public assistance program, Anaccident and Health policy that Provides reimbursement benefits makes them payable to the, Paulis an employee who caught a disease unique to the trade in which he was exposedto. A producer may begin to solicit insurance ONLY. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? 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. What amount will be paid under a policy where the insured misstated his/her age? One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Reggie purchased a life insurance policy with a face amount of $500,000. Which of the following statements is TRUE about Medicaid? Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. Temporarily Deposit the funds in a personal account. 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. What happens when an insurance policy is backdated? A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. Which of these statements about Medicaid iscorrect? Collecting a chargefor insurance that is less than the charge applicable to that insurance. 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. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. The time limit for filing claim disputes is addressed in which provision of an accident and health policy? Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. a producers secretary who solicits prospects on the telephone She recently replaced the policy with a new one that provides better coverage. All of these are standard exclusions found in a life insurance policy EXCEPT. a producers secretary who solicits prospects on the telephone Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Which of the following is a reinstatement condition? Who would most likely be coveredunder Workers Compensation? \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ 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.