A. The death benefit paid will be what the premium would have purchased at the correct age. a producers secretary who solicits prospects on the telephone Call us (+254) 722 22 99 44 Email polucon@polucon.com Our Laboratories Nairobi & Mombasa fort worth murders 1990s Home Services a producers secretary who solicits prospects on the telephone Micro-Biology Services Agri - Services Instrumentation Division Environment Division Because dividends are considered to be a return of premium. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. 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. 5511. 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. 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. Which law do all insurers and their producers need to comply with? Whowere Keogh Plans designed to provide pension benefits for? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. a. Mustmeet certain underwriting guidelines. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. 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. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ 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.) Duringthe accumulation period, who can surrender an annuity? Advertising material for a life insurance policy does NOT need to contain which of the following? A minimum of 12 months after date of purchase. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. Afterwards, she deposits the check into her personal checking account. If an insured dies during the grace period with no premiums paid. 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. 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. 1. B.Canceling a term life policy to buy a whole life policy. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. Which of these is NOT an Unfair Claims Settlement Practice? A producer may be disciplined by the Commissioner for which of the following actions? 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. Find out how you can intelligently organize your Flashcards. AMaryland insurance producer solicits an insurance policy. 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. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. Which of these is NOT considered to be a risk factor in life insurance underwriting? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. a producers secretary who solicits prospects on the telephone 12. 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. Using derogatory statements about an insurance company's financial condition. Whichof these will have the highest monthly payout upon Annuitization? Bob dies 12 months later. 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. The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period? The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. The coverage, condition, and limitations in the master policy of a group contract can be found in which document? 1. Providing claim payments to insureds under the guidelines of the insurance contract. Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. What is involved when a life insurance policy has been backdated? A. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. 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. The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). An individual life insurance policy can be contested by the insurer only during the first _________ years of the contract, An order issued by the commissioner that prohibits a specific practice listed in the order is called a. Please select the correct language below. 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. 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. 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. These rights are called, A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of. Mary ran into John, another employee, who happened to be taking outthe garbage. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? Which of the following would be the appropriate tax consequence? B. A doctor who accepts Medicare Assignment agrees to which of the following? Whoassumes the investment risk with a fixed annuity contract? Which of the following is a reinstatement condition? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. Re: Acting as insurance producer without a license Questions Presented 1. The taxable portion of each annuity payment is calculated using which method? A. Collectinga premium for insurance that is not provided. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. Which of the following is TRUE regarding the federal income tax? At what age does the open enrollment period typically begin for Medicare Supplement coverage? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. 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? A licensed producer is required to file notice of any change of address within how many days? The replacing policy may only impose a ____ month time exclusion for pre-existing conditions, forward premiums to the insurer on a timely basis, When collecting insurance premiums from a client, a producer MUST, Once a health insurance policy has been in force for _______ years, the policy may NOT be contested by the insurer, cancelling a term life policy to buy a whole life policy, All of these types of benefits may be covered by a nonprofit health service plan EXCEPT, have it's content approved by the commissioner. Which market index is associated with an indexed annuity's rate of return? HIPPA considers which of the following as "individually identifiable health information"? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. D. Administered by the federal government. B.) With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. 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. B.Change must be initialed by the applicant. Who is required to notify the producer in the event of appointment termination? Which of the following statements is TRUE about Medicaid? For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. 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. \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ Which of the following actions by a producer would NOT result in a license suspension or revocation? Changing from one occupation to another at the same general status is called _____. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ How long is the Contestable Period for health insurance policies sold in New Jersey? Which of the following is an example of fraud? An insurance company needs to obtain personal information from a third party concerning an applicant. An insurance producer is issued a _____ as evidence of authority. Former dependent of employee no longer ofdependent status. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. In the advertising of Individual Life Insurance policies, an "introductory" or "special enrollment" may not be made available until any previous enrollment period for the same policy has been closed for at least how long? What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. An error was made on Erica's life insurance application. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. What will the beneficiary receive if an annuitant dies during the accumulation period? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ 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). To be classified as a small employer, an employer must NOT have more than _________ eligible employees, The _______ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant, During the examination of an insurer's books and records by the Commissioner, the insurer, remain in effect until a new one is issued, John the insurance producer has an insurance license that expires in 6 months.
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