a producers secretary who solicits prospects on the telephone What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? How often must an insurance producer's license in Maryland be renewed? Whatis the primary reason for buying an annuity? Whatis the purpose of the medical information Bureau (MIB)? This type of agreement is called an. An insurer may pay a commission in which of the following scenarios? The standard grace period for a life insurance policy sold in Maryland is. The greater of the accumulated cash value or the total premium paid. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. The legal action provision in a health contract is limited to no more than ___ years. This rider is called a(n). a producers secretary who solicits prospects on the telephone. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. At what age does the open enrollment period typically begin for Medicare Supplement coverage? Which of these will typically authorize treatment from a specialist? When initial premium is collected and policy is issued. D. The face amount and premium will remain constantover the 10-year period. Which of the following would have the HIGHEST premium? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. This is called a. Which of the following is TRUE regarding the federal income tax? Reggie purchased a life insurance policy with a face amount of $500,000. The taxable portion of each annuity payment is calculated using which method? Net death benefit will be reduced if the loan is not repaid. a producer's secretary who solicits prospects on the telephone. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Financial report from the previous year. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. An error was made on Erica's life insurance application. Which market index is associated with an indexed annuity's rate of return? Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. An individual can enroll in a Part C Medicare Advantage Plan at what time? What is involved when a life insurance policy has been backdated? We understand that this must have been both very frustrating and disappointing. By . d. Individual disability income insurance premiums. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? 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. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. Over the course of a year, which premium payment mode is most expensive? Which of these statements about Medicaid iscorrect? Advertising material for a life insurance policy does NOT need to contain which of the following? 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. Which of the following would be the appropriate tax consequence? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. When an applicant passes a licensing examination and answers all background questions negatively. There are several types of whole life insurance that are as follow:- Which of the following situations would be suitable for a temporary work authority? 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. AnIndividual can enroll in a part C Medicare Advantage Plan at what time? Complete the sentence using each term once. 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. Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. _____ is NOT an element of valid contract, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value at the amount of, Past due premiums that have not been paid by the end of the grace period. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? Under a life insurance policy, what does the insuring clause state? The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. 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. An accident and health policy that provides reimbursement benefits makes them payable to the, A separate converted policy may, at the option of the insurance company, be issued to cover a, Dental treatment is needed to repair an injury. D.) Intentionally violated state insurance laws. Making the policy effective on an earlier date than the present. Who would be responsible for the prosecution of this crime? A master contract and certificate of coverage can be found in which type of policy? A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. 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. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? a producers secretary who solicits prospects on the telephone. Which course of action must be taken by the Commissioner? Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? A producer has recently died and leaves behind a spouse In order for An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. The law that established insurance transactions regulated by the states is called. Insurance/Healt Agent Exam Flashcards - Cram.com 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. Which of the following is NOT a required provision in an accident and health insurance policy? The policy automatically converts to whole lifeafter the 10-year period, B. D. Assist an insurer in determine an applicantscreditworthiness. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. D. Administered by the federal government. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Which of the following actions by a producer would NOT result in a license suspension or revocation? Mary ran into John, another employee, who happened to be taking outthe garbage. Which of the following is NOT a federal requirement of a qualified plan? Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? Her agent submitted the information to the insurance company on April 6. 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. A doctor who accepts Medicare Assignment agrees to which of the following? Which of the following is NOT part of an insurance contact? Their offer/administration. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. A producer's secretary who solicits prospects on the telephone Must be licensed as a producer Which of the following is a requirement for ANY change in an insurance application? A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. 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. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? Afterwards, she deposits the check into her personal checking account. a producers secretary who solicits prospects on the telephone 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. Former dependent of employee no longer ofdependent status. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Whichscenario would most life insurance policies exclude coverage for? Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. Which of the Uniform Optional Provisions covers this situation? Annuities are intended to create an estate. 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. what happened to amy bailey happy healthy humble . Whichmarket index is normally associated with an indexed annuitys rate of return? What is this an example of? A closed network plan offers a primary physician copay of $25. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC .