Annuities are intended to create an estate. 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. Introducing Cram Folders! ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. 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. Mikehas inherited his fathers traditional IRA. Which of these is NOT an Unfair Claims Settlement Practice? OGC Opinion No. 05-04-21: Acting as insurance producer without a 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. Who would most likely be coveredunder Workers Compensation? 1. 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 Premium for a Modified whole life policy is: A. The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. a producers secretary who solicits prospects on the telephone A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? She paid the premium on May 15 with the policy indicating the effective date being May 30. The time limit for filing claim disputes is addressed in which provision of an accident and health policy? As beneficiary, he will pay ____ taxes on any money withdrawn. An amount the premium would have purchased at the correct age. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. a producers secretary who solicits prospects on the telephone Inwhich of the following situations would the insurer be liable for a loss? 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 considered to be an actof fraud? Allof these are considered key factor in underwriting life insurance EXCEPT, Anapplicant intentionally lying to an insurance company on an application inorder to obtain a cheaper premium is an example of. Prospective producer who is waiting to take the state examination. Please select the correct language below. Producing an inadequate amount of new premium. a producers secretary who solicits prospects on the telephone Which of the following is NOT a qualification to be licensed as a producer? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Whichof the following is Medicare Part B also known as? Who regulates the quality care provided by a health maintenance organization (HMO)? When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. a producers secretary who solicits prospects on the telephone. 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 does the Group Life underwriting risk selection process help protect insurance companies from? Ahealth care provider claim may be settled using which of the following paymentmethods? The death benefit paid will be what the premium would have purchased at the correct age. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? All Medicare Supplement policies MUST contain which provision? Which of these premium payment frequencies is not typically available to a policy owner? A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. How soon can the benefit payments begin with a deferred annuity? Maria has committed what crime? Howsoon can the benefit payments begin with a deferred annuity? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Which of the following is NOT a required provision in an accident and health insurance policy? You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. What will the beneficiary receive if an annuitant dies during the accumulation period? Which of the following would have the HIGHEST premium? a producers secretary who solicits prospects on the telephone. c. Solve the equation f(x)=0, if possible. Whathappens when an insurance policy is backdated? 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. Producers must complete a total of ____ continuing education credits for each two-year licensing period. Which of the following actions by a producer would NOT result in a license suspension or revocation? This type of agreement is called an. His policy may be reinstated at any time within _____ years. D. Adjustable, permanent, and limited-pay lifeinsurance. 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. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. This rider is called a(n). A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. -is an example of the illegal act called twisting -must be bonded through the state -must be licensed as a producer -is not required to be licensed as a producer must be licensed as a producer Producers selling insurance in New Jersey while having a residence and business address Bob dies 12 months later. Eventually, they retire and dissolve the business. Julie has a $100,000 30-year mortgage on her new home. B. Maria the agent would like to advertise an annuity product on a highway billboard. . Howare annuities given favorable tax treatment? 1. All Medicare Supplement policies MUST contain which provision? The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". Which of the following is NOT a duty of the Commissioner? Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. 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. What is the purpose of a disability income benefit? Which of the following topics needs to be discussed with this client? Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. b. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. Which of the Uniform Optional Provisions covers this situation? In Maryland, a producer may have his/her license revoked for which of the following acts? What may be the result of replacing an existing life insurance policy with a new one? To be classified as a small employer, an employer mustNOT have more than__ eligible employees. An insurance company may ONLY pay a sales commission to, Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called. In this situation, who will receive Bob's policy proceeds? An attending physician's statement would be appropriate for which life insurance purpose? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? Because dividends are considered to be a return of premium. Which of the following does Medicare Part D cover? The proceeds of this contract could be subject to the claims of. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. a producers secretary who solicits prospects on the telephone. When does a life insurance policy typically become effective? Vaginal plastic surgery is made up of two main procedures, external and . The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? All of these are standard exclusions found in a life insurance policy EXCEPT. 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. A. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? A provision in a whole life policy that allows a policy owner to terminate the policy in return for a reduced paid-up policy of the same type is called, A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called. Determine whether the discriminant is positive, negative, or zero. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. The names of the insurance companies represented by the producer. 1. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ D. Assist an insurer in determine an applicantscreditworthiness. With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? Which of the following is NOT a common exclusion for a medical expense policy? We understand that this must have been both very frustrating and disappointing. Which of these may NOT be used in a health insurance advertisement? 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. An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Who is the individual paid on a fee-for-service basis? B. Whenthe application is collected and policy is issued, C. Whenthe application is completed and signed, D. Whenthe completed application is signed and initial premium is collected. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. An individual can enroll in a Part C Medicare Advantage Plan at what time? 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. Life insurance policies will. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. A. Collectinga premium for insurance that is not provided. An applicant's character and personal habits can be obtained for underwriting purposes from which source? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ Within how many days must a producer notify the Department of Banking and Insurance of a change in address? What is involved when a life insurance policy has been backdated? The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? You have created 2 folders. Which of the following must be included in the advertisement? How much does Medicare Part B pay forphysician fees? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Mary ran into John, another employee, who happened to be taking outthe garbage. At the request of the insurer to assist in the underwriting decision. An error was made on Erica's life insurance application. 1. 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. Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? 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. The Commissioner issues a subpoena to a producer. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. B. Which of the following statements is TRUE? \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ Percent frequency distribution for key variables. What are the levels of coverage as defined by the Affordable Care Act? Net death benefit will be reduced if the loan is not repaid. a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephone by geriford27, A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age, A guaranteed issue insurance policy has no, A single premium cash value policy can be described as, A policy that is paid up after only one payment. EXECUTIVE SUMMARY. Over the course of a year, which premium payment mode is most expensive? This agreement is called an, Upon receiving a producer complaint, the Commissioner may immediatley, ABC Insurance Company transfers part of their risk to XYZ Insurance Company. A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. Which of these if NOT considered to be a purpose of an annuity? The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. Who is eligible for insurance under a group policy issued to a labor union? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? 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. When initial premium is collected and policy is issued. 1. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. Jim recently sold his whole life insurance policy under a critical settlement contract. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. 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. How many employees must an employer have for a terminated employee to be eligible for COBRA? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Tara the producer is delivering a specified disease insurance policy to a new policyowner. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. In what form do disability income policies typically pay benefits? Afterwards, she deposits the check into her personal account. 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. a producers secretary who solicits prospects on the telephone 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. How long is her grace period? 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If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? 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? CashandcashequivalentsAccountsreceivableInventoryTotalcurrentassetsProperty,plant,andequipmentLessaccumulateddepreciationNetproperty,plant,andequipmentTotalassetsAccountspayableIncometaxespayableBondspayableCommonstockRatainedearningsTotalliabilitiesandstockholdersequityEndingBalance$48,00041,00055,000144,000150,00050,000100,000$244,000$32,00025,00060,00070,00057,000$244,000BeginningBalance$57,00044,00050,000151,000140,00035,000105,000$256,000$57,00028,00050,00060,00061,000$256,000. Which of the following is a reinstatement condition? 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. Her agent submitted the information to the insurance company on April 6. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. In order for the producer's insurance business to continue, the Commissioner may issue to the producer's spouse a has a mental or physical handicap and remains dependent on the parent A dependent child may remain on a parent's health insurance plan beyond age 26 if the child 60 Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. Which of the following is NOT considered to be an act of fraud? Which of the following would be the appropriate tax consequence? How often must an insurance producer's license in Maryland be renewed? 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. Which of these statements is true? 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. D. The face amount and premiumwill remain constant over the 10-year period. 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. \\ In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? By Posted browning 725 pro sporting canada 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? An insurance company needs to obtain personal information from a third party concerning an applicant. The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Which of the following is NOT information found in a life insurance buyer's guide? C) Unintentionally misrepresented a material fact on the application. what happened to amy bailey happy healthy humble . 1. Sonya applied for a health insurance policy on April 1. Which of the following is NOT part of an insurance contact?