A term life insurance policy is what most people think of when they think about life insurance. A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting . Within how many days must a producer report to the Commissioner any administrative actions made against him/her? B. Gainsare tax exempt at distribution. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. Which of the following is NOT a qualification to be licensed as a producer? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Which rider would pay a monthly amount because of this disability? Whichtype of injury would NOT be covered under a health insurance policy? The death benefit paid will be what the premium would have purchased at the correct age. The company did not retire any bonds or repurchase any of its own common stock during the year. Add to folder What is the purpose of having an accelerated death benefit on a life insurance policy? a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? Eventually, they retire and dissolve the business. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. Jay the producer is giving insurance advice regarding a prospect's existing coverage. A producer is meeting with a client to determine whether an annuity would be suitable for purchase. \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ Unintentionally misrepresented a material fact on the application. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. Which of the following would have the HIGHEST premium? Atax-free 1035 Exchange of a life insurance policy to a different policy ispermitted if it occurs, A. Inthe same state as the original transaction, C. Frominsurer to insurer and no cash is received by the policy owner, D. Fromagent to agent as long as the agents are licensed in the same line. A. 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. The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. Their offer/administration. Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. How many months can a life insurance policy normally be backdated from the date of application? In what form do disability income policies typically pay benefits? She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Course Hero is not sponsored or endorsed by any college or university. Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. Which of the following is typically NOT eligible for coverage in a group health policy? Whatis the primary reason for buying an annuity? How long is her grace period? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Which of the following is true concerning the proceeds of a life insurance policy? Which option was chosen? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? Inwhich of the following situations would the insurer be liable for a loss? PartA Hospital expense coverage provided under Medicare is automatically madeavailable to each of the following EXCEPT, A. A50-year-old individual who has qualified for SSDI in the last 24 months, B. A70-year-old NOT Eligible for Social Security, C. A55-year-old suffering from kidney failure. How many employees must an employer have for a terminated employee to be eligible for COBRA? An applicant's character and personal habits can be obtained for underwriting purposes from which source? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? Reggie purchased a life insurance policy with a face amount of $500,000. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. Must be bonded through the state. Maria has committed what crime? Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) What is created after policy proceeds areobtained in a lump sum and then immediately invested? 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. A separate converted policy may, at the option of the insurance company, be issued to cover an. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? It would be considered taxable income to the employee. 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. A. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? What is involved when a life insurance policy has been backdated? The names of the insurance companies represented by the producer. 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? Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? How much does Medicare Part B pay for physician fees? Whichof these will have the highest monthly payout upon Annuitization? B.Canceling a term life policy to buy a whole life policy. Which of the following is an example of fraud? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ Whendoes a life insurance policy typically become effective? Whatis the elimination period of an individual disability policy? A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. Whichscenario would most life insurance policies exclude coverage for? Which of these is likely to occur when life or health insurance is being applied for? Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Howdoes one become eligible for part D: Prescription Drug Coverage? B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. A newborn is required to be covered for ______ days from the moment of birth. Which of the following is Medicare Part B also known as? B. Anytimewithin 12 months after date of purchase, C. Aminimum of 6 months after date of purchase, D. Aminimum of 12 months after date of purchase. May 2020. Which of the Uniform Optional Provisions covers this situation? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which of these statements about Medicaid iscorrect? a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. When are group disability benefits considered to be tax-free to the insured? 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. Hill during her initial calls made to the call center. c. Solve the equation f(x)=0, if possible. 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. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. Which of these premium payment frequencies is not typically available to a policy owner? 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 is payable MUST disclose. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. In Maryland, a producer may have his/her license revoked for which of the following acts? 1. Why are dividends from a mutual insurer not subject to taxation? Employee must be able to make unlimited contributions. 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. Because dividends are considered to be a return of premium. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| What does the Group Life underwriting risk selection process help protect insurance companies from? Which of the following is NOT part of an insurance contact? (p^1p^2). Which type of contract may NOT be issued by an insurance company? \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Pierre the producer receives a premium for an individual health insurance policy. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. At what age does the open enrollment period typically begin for Medicare Supplement coverage? Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. Kathysannuity is currently experiencing tax-deferred growth until she retires. Whatis the purpose of the medical information Bureau (MIB)? A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. B. Recieve a tax credit to help offset the cost of health insurance. 2.1.1 6 Whole life Insurance in Malaysia Whichof these benefit options would he choose? Alimited payment whole life policy provides. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . D. Willfullycollecting a premium that exceeds the amount of the actual premium. With a past due premium of $100, the insurer pays $400. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. HIPPA considers which of the following as "individually identifiable health information"? Which of these will typically authorize treatment from a specialist? 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. Within how many days must a producer notify the Department of Banking and Insurance of a change in address? Shirley has a $500,000 10-year non-renewable level term life policy. What would be an expense factor in a insurance program? Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ B. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Which scenario would most life insurance policies exclude coverage for? Replacement regulation is designed to protect the interests of, A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called. Whatdoes the word Level in level term describe? audio not yet available for this language. A. Collectinga premium for insurance that is not provided. Which of the following is an example of defamation? In this situation, who will receive Bob's policy proceeds? is one of the oldest and best known of all Barbadian funeral establishments. In a group health care, what is the purpose of the coordination of benefits provision? Which of the following statements is TRUE? Vaginal plastic surgery is made up of two main procedures, external and . Which of the following does Coordination of Benefits allow? In the event of employment termination, group insurance can be kept if the employee pays the premiums. Producing an inadequate amount of new premium. An attending physician's statement would be appropriate for which life insurance purpose? Adoctor who accepts Medicare Assignment agree to which of the following ? 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. \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ 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.

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