In the event of the employment termination, group health insurance can be kept if the EMPLOYEE pays the premiums, A health insurer must be provided with written proof of loss _____ days after the date of loss, A producer must notify the Commissioner within _____ days of a felony conviction. The two plans are fee-for-service and. Which scenario would most life insurance policies exclude coverage for? During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for$3,000 that had originally cost $6,000 and had accumulated depreciation of$4,000. Sonya applied for a health insurance policy on April 1. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ Which law do all insurers and their producers need to comply with? When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? With a past due premium of $100, the insurer pays $400. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? Which of these is NOT an Unfair Claims Settlement Practice? 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. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| Which of thesestatements is true? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. New Jersey Department of Banking Insurance, A limited payment whole life policy provides, All advertisements for health insurance shall make clear the identity of the, The double indemnity provisions in a life insurance policy pertains to an insured's death caused by a. Mike has inherited his father's traditional IRA. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. 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 branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. You have created 2 folders. C.) Unintentionally misrepresented a material fact on the application. To be classified as a small employer, an employer mustNOT have more than__ eligible employees. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? The premium for a Modified whole life policy is, How long is the Contestable Period for health insurance policies sold in New Jersey, An applicant intentionally lying to an insurance company on an application in order to obtain a cheaper premium is an example of. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. How often must an insurance producer's license in New Jersey be renewed? 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). Percent frequency distribution for key variables. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. Maria has committed what crime? An individual who has a hobby racing cars once a month. Whichmarket index is normally associated with an indexed annuitys rate of return? An insurer may pay a commission in which of the following scenarios? Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. 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. A master contract and certificate of coverage can be found in which type of policy? 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. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. June 24, 2022 . D. Willfullycollecting a premium that exceeds the amount of the actual premium. Which of the following is NOT a federal requirement of a qualified plan? The death benefit paid will be what the premium would have purchased at the correct age. In a group health care, what is the purpose of the coordination of benefits provision? 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. Kathy pays a monthly premium on her health insurance policy. D.) Intentionally violated state insurance laws. They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. 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. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ What is the required action to be taken by a Maryland licensee before operating under an assumed business name? a producers secretary who solicits prospects on the telephone. Which of the followingunfair trade practices involves an agent who makes malicious statements aboutanother person's financial condition? \end{array} A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. Mikehas inherited his fathers traditional IRA. The standard grace period for a life insurance policy sold in Maryland is. Written notice for a health claim must be given to the insurer ___ days after the occurrence of the loss. Write a sentence explaining its significance to the executive branch. Vaginal plastic surgery is made up of two main procedures, external and . Paul has a (n), Failingto Promptly provide a reasonable explanation for the denial of a claim is conservedto be a(n), AnHMO that involves a partnership of physicians and other providers who practiceout of a central facility is called a(n), Smallemployers who are spooned by an insurer to provider group benefits to itsemployees are called. A master contract and certificate of coverage can be found in which type of policy? Which of these is NOT considered to be a risk factor in life insurance underwriting? Craig submits a $500 claim for medical expenses. 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. The producer decides not to respond. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. Within how many days must a producerreport to the commissioner any administrative actions made against him/her? Which of the following is NOT considered to be an actof fraud? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. 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. Pierre MUST remit the premium to his insurer within ___ business days of receipt. EXECUTIVE SUMMARY. An insurer formed according to the legal requirements of another country is called an. 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 What does the word "level" in Level Term describe? 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. The company did not retire any bonds or repurchase any of its own common stock during the year. For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? If an insured dies during the grace period with no premiums paid. Must be bonded through the state. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. . Which of the following is the likely result? 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. 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. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Who regulates the quality care provided by a health maintenance organization (HMO)? A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? 1. She would like to borrow $15,000 against the cash value. who would be responsible for the prosecution of this crime? All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. 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. pain between 4th and 5th metatarsal. Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? Reggie purchased a life insurance policy with a face amount of $500,000. 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, Under a small group health plan, an insurer is required to provide a newly-married employee at least ____ days to add the new spouse to the plan, replacing an insurance policy from one insurer to another based on misrepresentation, legible and brief description of the policy on the first page, Each delivered life insurance policy in Maryland MUST include a, The _____________ of Coverage describes policy features, benefits, exclusions, and riders in a Long-Term Care policy, A person who, for a fee, gives advice or recommendations on benefits provided by an insurance contract is called, Child over the age of 18 years who attends an educational institution and relies on the insured employee for financial support. As of January 1, 2014, small group health insurance can be rated on the basis of. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Juni 2022. 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu Which of the following is NOT part of an insurance contact? C) Unintentionally misrepresented a material fact on the application. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which type of disability would be less than total impairment and equal to permanent impairment? How often must the Commissioner examine each domestic insurance company? B. Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? a producers secretary who solicits prospects on the telephone 12. Which market index is associated with an indexed annuity's rate of return? Both May and John are injured. 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. What is created after policy proceeds areobtained in a lump sum and then immediately invested? Find out how you can intelligently organize your Flashcards. a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. 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.