Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. What does the amount of these credits represent? Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. At the request of the insurer to assist in the underwriting decision. 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. D. Licensedproducers not appointed by an insurer. As of January 1, 2014, small group health insurance can be rated on the basis of. 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. How long is the Contestable Period for health insurance policies sold in New Jersey? The policy automatically converts to whole lifeafter the 10-year period, B. (p^1p^2). 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. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . A separate converted policy may, at the option of the insurance company, be issued to cover an. by . \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Employee must be able to make unlimited contributions. Upon delivery, she may be expected to collected all of the followingEXCEPT a(n), B. Signedimpairment rider acknowledgement, C. Modifiedapplication with a new signature, Oneof the most important considerations when replacing health insurance would bethe. How many days notice must the Commissioner give prior to a hearing? If an insured dies during the grace period with no premiums paid. Which of these is NOT considered to be a risk factor in life insurance underwriting? A. Which of the following statements is TRUE about Medicaid? The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? 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. Healthinsurance will typically cover which of the following perils? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: 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. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. Which course of action must be taken by the Commissioner? a producers secretary who solicits prospects on the telephone. At what age can she begin to receive distributions without a tax penalty? Howdoes one become eligible for part D: Prescription Drug Coverage? Which of these statements about Medicaid iscorrect? Adoctor who accepts Medicare Assignment agree to which of the following ? Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? A. 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 Pat is insured with a life insurance policy and Karen is his primary beneficiary. Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. Collecting a chargefor insurance that is less than the charge applicable to that insurance. What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. Annuities are intended to create an estate. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. juin 5, 2022 . The Commissioner issues a subpoena to a producer. B. An individual can enroll in a Part C Medicare Advantage Plan at what time? The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. a producers secretary who solicits prospects on the telephone. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu 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. How many employees must an employer have for a terminated employee to be eligible for COBRA? When does a life insurance policy typically become effective? 59 and owned account for a minimum of 10 years, B. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Introducing Cram Folders! What does the word "level" in Level Term describe? How much does Medicare Part B pay for physician fees? 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. 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. The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ c. Solve the equation f(x)=0, if possible. If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? Whatis the primary reason for buying an annuity? 1. Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. cuanto gana un pintor de autos en estados unidos . Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. \\ Which of these is NOT a characteristic of the Accelerated Death Benefit option? As beneficiary, he will pay__taxeson any money withdrawn. EXECUTIVE SUMMARY. B.) D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Kathy pays a monthly premium on her health insurance policy. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Frank is shopping for a disability income policy. a producers secretary who solicits prospects on the telephone. 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. When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? In the event of employment termination, group health insurance can be kept if the employee pays the premiums, B. Recieve a tax credit to help offset the cost of health insurance, C. Remain of their current coverage for 30 months. Jim recently sold his whole life insurance policy under a critical settlement contract. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. This type of agreement is called an. Which of the following is the likely result? Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy? If a producer has been engaged in an administrative action by any governmental agency, within how many days following the final deposition must the producer report the action to the Commissioner? Commissioner may impose an administrative penalty. 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. Producer commissioners may NOT be paid to: B. Licensedand appointed producers who are sharing commissions. A producer may begin to solicit insurance ONLY. By Posted browning 725 pro sporting canada 1. Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. Whichof these will have the highest monthly payout upon annuitization? The time limit for filing claim disputes is addressed in which provision of an accident and health policy? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. A minimum of 12 months after date of purchase. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? 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. Long-term care insurance and Medicare Supplement plans have a free-lock period of ______ days, A ______ insurance company is one that was formed under the laws of a state other than Maryland, they are both licensed in the same line of business, Two producers may share a commission ONLY if, Mary's Medicare Supplement policy had been in effect for 12 months. Tarathe producer is delivering a specified disease insurance policy to a new policyowner. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ a producers secretary who solicits prospects on the telephone What are the levels of coverage as defined by the Affordable Care Act? 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. a. Mustmeet certain underwriting guidelines. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Juni 2022. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? Mikehas inherited his fathers traditional IRA. A _______ negotiates an insurance contract on behalf of an insurer, The Entire Contract provision states that an entire contract consists of the actual policy and the, the last day of the licensee's birth month (every two years), A producer's renewal date for his/her resident insurance license is on or before. A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. Which of the following is NOT a common exclusion for a medical expense policy? 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. 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. Which of the following is present when an applicant stands to lose value if the insured dies? A beneficiary has just received a claim payment for a life insurance policy. Which of these is likely to occur when life or health insurance is being applied for? 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. What is the purpose of having an accelerated death benefit on a life insurance policy? In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. All of these are standard exclusions found in a life insurance policy EXCEPT. Who would most likely be coveredunder Workers Compensation? Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Find out how you can intelligently organize your Flashcards. Which of the following is true concerning the proceeds of a life insurance policy? Percent frequency distribution for key variables. Using derogatory statements about an insurance company's financial condition. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Policyowners from misrepresentations and loss of benefits, Replacement regulation is designed to protect, A producer must notify the Commissioner within _____ days of a felony conviction, Dependent children under a health insurance plan must be provided coverage up to age, written authorization from the proposed insured, Prior to conducting an HIV-related test, the insurer must obtain, An insurance producer agrees to pay the first monthly premium for an insurance applicant. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? a producers secretary who solicits prospects on the telephone 12. In Maryland, a Producer may have his/her license revoked for which of the following acts? You have created 2 folders. Sonya applied for a health insurance policy on April 1. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. . All Medicare Supplement policies MUST contain which provision? 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. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. What happens to interest earned if the annuitant dies before the payout start date? Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? All Medicare Supplement policies MUST contain which provision? 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. 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 will typically authorize treatment from a specialist? Why are dividends from a mutual insurer not subject to taxation? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? The Healthcare Insurance Exchange offers plans for everyone. 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. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| The policies continue in force with no change. An insurer formed according to the legal requirements of another country is called an. Who would make the final determination on whether or not an insurance advertisement is misleading? Which of the following statements is TRUE? A producer has recently died and leaves behind a spouse. Which of the following would be the appropriate tax consequence? Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ An individual can enroll in a Part C Medicare Advantage Plan at what time? Which type of life insurance policy is this? Provides the insured a specific dollar amount for services, An example of an unfair method of competition is, Overstating the benefits of an insurance policy, A pharmacy benefit covers prescription drugs derived from a list called, The type of policy which pays on the death of the last person is called, Converting a group plan to permanent life insurance requires, The conversion being applied for within 31 days of termination, Ownership of a life insurance policy may be temporarily transferred with a(n). \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ How often must an insurance producer's license in Maryland be renewed? Julie has a $100,000 30-year mortgage on her new home. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org In some cases, NDRC also solicits the opinions of relevant Chinese industrial regulators and consulting agencies, which may include industry associations that represent Chinese domestic firms. MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. A master contract and certificate of coverage can be found in which type of policy? By . 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. Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue? C.) Unintentionally misrepresented a material fact on the application. Which of thesestatements is true? b. 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. The family's financial objectives if the income earner were to die or become disabled, Normally at any time during the policy term, Loans obtained by a policyowner against the cash value of a life insurance policy, The solicitation of a non-authorized contact in New Jersey violates. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. What happens to coverage under a children's term rider when that child reaches a certain specified age? Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? Her health policy most likely contains a(n). Whathappens when an insurance policy is backdated? Its balance sheet for this year is as follows: EndingBeginningBalanceBalanceCashandcashequivalents$48,000$57,000Accountsreceivable41,00044,000Inventory55,00050,000Totalcurrentassets144,000151,000Property,plant,andequipment150,000140,000Lessaccumulateddepreciation50,00035,000Netproperty,plant,andequipment100,000105,000Totalassets$244,000$256,000Accountspayable$32,000$57,000Incometaxespayable25,00028,000Bondspayable60,00050,000Commonstock70,00060,000Ratainedearnings57,00061,000Totalliabilitiesandstockholdersequity$244,000$256,000\begin{array}{l c c} Pierre MUST remit the premium to his insurer within ___ business days of receipt. Engaged in a fraudulent insurance practices. audio not yet available for this language. It is health insurance for the elderly. The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Whichscenario would most life insurance policies exclude coverage for? Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. May 2020. Ahealth care provider claim may be settled using which of the following paymentmethods? Whatis the elimination period of an individual disability policy? To be classified as a small employer, an employer mustNOT have more than__ eligible employees. A whole life policy option where extended term insurance is selected is called a(n). As beneficiary, he will pay ____ taxes on any money withdrawn. 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. Which of these may NOT be used in a health insurance advertisement? A producer's secretary who solicits prospects on the telephone, When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT, In Maryland, a full-time employee of a small employer MUST work an average of at least _____ per week, A producer may begin to solicit insurance ONLY when. a producers secretary who solicits prospects on the telephone C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. Which of the following is NOT part of an insurance contact? When is an existing health insurance policy required to provide coverage for a new born child? Life insurance policies will. A producer has recently died and leaves behind a spouse In order for Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. 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. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. a producers secretary who solicits prospects on the telephone Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Which of these is affected by the frequency of an insurance policy's premium payments? Which of the following is NOT a duty of the Commissioner? by geriford27, The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. Howdo interest earnings accumulate in a deferred annuity? Within how many days must a producerreport to the commissioner any administrative actions made against him/her? When are group disability benefits considered to be tax-free to the insured? 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. What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventative, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital? \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ a producers secretary who solicits prospects on the telephone 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. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? The type of annuity she is seeking is called? When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Producers must complete a total of ____ continuing education credits for each two-year licensing period. visas, binomial trials. Who is eligible for insurance under a group policy issued to a labor union? A doctor who accepts Medicare Assignment agrees to which of the following? OGC Opinion No. 05-04-21: Acting as insurance producer without a a producers secretary who solicits prospects on the telephone How many months can a life insurance policy normally be backdated from the date of application? How to take legal action against an insurance company. What is involved when a life insurance policy has been backdated? 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? How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? b. Pat the client interest on any monies held. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Which of the following is Medicare Part B also known as? 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.