Determines what is paid by the primary and secondary insurers in the event of a claim, A producer has recently died and leaves behind a spouse. A. Bob and Tom start a business. 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. 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 producer is meeting with a client to determine whether an annuity would be suitable for purchase. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ A. Thepolicys elimination period is waived, B. Thetime frame for reinstating a lapsed policy is extended, C. Thepolicys probation period is earlier than the present, D. Thepolicy effective date is earlier than the present, D. The policy effective date is earlier than thepresent, Premiummode is a term used to describe the. When does a life insurance policy typically become effective? c. Solve the equation f(x)=0, if possible. What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). At the request of the insurer to assist in the underwriting decision. His policy may be reinstated at any time within _____ years. June 5, 2022 . Theprescription of a drug for treatments other than whats labeled is known as(Blank) use. D. Level for the first 5 years then decreases forthe remainder of the policy. Which of the following is NOT considered to be an act of fraud? Sonya applied for a health insurance policy on April 1. Must be bonded through the state. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? Whatis the elimination period of an individual disability policy? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? 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? Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. An error was made on Erica's life insurance application. 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. An applicant's character and personal habits can be obtained for underwriting purposes from which source? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. The right-to-examine period in Maryland for long-Term Care polices is ___ days. MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. Continued coverage under COBRA would be providedto all of the following EXCEPT: a. When are group disability benefits considered to be tax-free to the insured? a producers secretary who solicits prospects on the telephone 12. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ 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? How often must the Commissioner examine each domestic insurance company? What would be an expense factor in a insurance program? Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. How much does Medicare Part B pay for physician fees? a producers secretary who solicits prospects on the telephone. Which market index is associated with an indexed annuity's rate of return? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. Who regulates the quality care provided by a health maintenance organization (HMO)? D.) By providing consumer credit counseling. 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? The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. Which of these premium payment frequencies is not typically available to a policy owner? \end{array} Producers must complete a total of ____ continuing education credits for each two-year licensing period. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. James is the insured on a life insurance policy where his age was misstated on the application. Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Juni 2022. Please select the correct language below. A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. 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. Who would be responsible for the prosecution of this crime? How long must an individual be unable to engage in any gainful activity due physical or mental disability in order to qualify for Social Security Total Disability? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. A producer may begin to solicit insurance ONLY. Which of the following is the likely result? \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Which situation accurately describes a reduced paid-up nonforfeiture option? b. a. Theinsured skipped a payment beyond the 31 day grace period, b. Theinsured was injured while participating in an illegal occupation, c. Theinsured was given a notice of cancellation from the insurer, d. Theinsured suffered an injury as an innocent bystander during a bank robbery. A. What happens to coverage under a children's term rider when that child reaches a certain specified age? Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? A. Find out how you can intelligently organize your Flashcards. B. Which of these statements about Medicaid iscorrect? A term life insurance policy is what most people think of when they think about life insurance. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? 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. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Which of the Uniform Optional Provisions covers this situation? Which of the following statements is TRUE about Medicaid? Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? If she dies 15 years after the policy's inception date, how much will her beneficiary receive? If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay, Paul is an employee who caught a disease unique to the trade in which he was exposed 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). Which of the following is a requirement for ANY change in an insurance application? D. Assist an insurer in determine an applicantscreditworthiness. Please sign in to share these flashcards. 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.) licensed producers not appointed by an insurer. When an applicant passes a licensing examination and answers all background questions negatively. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. by . D. Licensedproducers not appointed by an insurer. She recently replaced the policy with a new one that provides better coverage. 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. How long is the Contestable period for health insurance policies sold in Maryland? In event of acontroversy between the insured and the company, the producer is considered to representthe. Which type of life insurance policy is this? The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. The Premium for a Modified whole life policy is: A. Which of the following does Coordination of Benefits allow? 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. 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. 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 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. C. Protects consumers with guidelines regarding creditreporting and distribution. Frank is shopping for a disability income policy. Which of the following is present when an applicant stands to lose value if the insured dies? 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. a producers secretary who solicits prospects on the telephone. Howare annuities given favorable tax treatment? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? Whendoes a life insurance policy typically become effective? Any decrease in income resulting from this injury would make him eligible for benefits under which provision? visas, binomial trials. The legal action provision in a health contract is limited to no more than ___ years. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? There are several types of whole life insurance that are as follow:- Maria has committed what crime? Which of the following is considered a tax-deductible medical expenseunder this rule?

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