a producers secretary who solicits prospects on the telephone

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. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? Whichof the following is Medicare Part B also known as? 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. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? In the event of employment termination, group insurance can be kept if the employee pays the premiums. 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{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ Which military service exclusion clause would pay upon his death? 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 enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. In Maryland, a Producer may have his/her license revoked for which of the following acts? When is an existing health insurance policy required to provide coverage for a new born child? Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Please upgrade to Cram Premium to create hundreds of folders! An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract. The type of annuity she is seeking is called? An individual the means to replace wages. Please select the correct language below. 1. 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. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. 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. Percent frequency distribution for key variables. Whatis the primary reason for buying an annuity? Adoctor who accepts Medicare Assignment agree to which of the following ? At the request of the insurer to assist in the underwriting decision. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? 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 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. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? pain between 4th and 5th metatarsal. 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. 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. who would be responsible for the prosecution of this crime? With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. cuanto gana un pintor de autos en estados unidos . An amount the premium would have purchased at the correct age. The two plans are fee-for-service and. Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Elizabethis the beneficiary of a life insurance policy. Whichtype of injury would NOT be covered under a health insurance policy? What does the word "level" in Level Term describe? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. What is the purpose of the Medical Information Bureau (MIB)? Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. The ____of coverage describes policy features, benefits, exclusions and riders in a long-term care policy. In a group health care, what is the purpose of the coordination of benefits provision? To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. Employee must be able to make unlimited contributions. Which of the following statements is TRUE? D. The face amount and premium will remain constantover the 10-year period. Which of the following must be included in the advertisement? Her agent submitted the information to the insurance company on April 6. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. A doctor who accepts Medicare Assignment agrees to which of the following? . Vaginal plastic surgery is made up of two main procedures, external and . Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid, A producer who shares commissions with a client. Which of the following is an example of fraud? Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? Which market index is associated with an indexed annuity's rate of return? A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. 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. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. It would be considered taxable income to the employee. 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 is eligible for insurance under a group policy issued to a labor union? A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. Who is the individual paid on a fee-for-service basis? C. Protects consumers with guidelines regarding creditreporting and distribution. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. A. B. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. An individual can enroll in a Part C Medicare Advantage Plan at what time? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. His policy may be reinstated at any time within _____ years. 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 telephonecapricorn and virgo flirting. Which of these will typically authorize treatment from a specialist? 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Please sign in to share these flashcards. licensed producers not appointed by an insurer. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. a producers secretary who solicits prospects on the telephone Whatis the purpose of the medical information Bureau (MIB)? What would be an expense factor in a insurance program? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. As beneficiary, he will pay__taxeson any money withdrawn. 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. A. 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. Which of the following may be used as continuation education credit? 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. c. Solve the equation f(x)=0, if possible. How long is the Contestable Period for health insurance policies sold in Maryland? Failing to promptly provide a reasonable explanation for the denial of a claim is considered to be a. Which of the following does Medicare Part D cover? 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. (p^1p^2). Commissioner may impose an administrative penalty. Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? Changing from one occupation to another at the same general status is called _____. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ The right-to-examine period in Maryland for long-Term Care polices is ___ days. Kathysannuity is currently experiencing tax-deferred growth until she retires. Frank is shopping for a disability income policy. Who regulates the quality care provided by a health maintenance organization (HMO)? Re: Acting as insurance producer without a license Questions Presented 1. Which of these is NOT a characteristic of the Accelerated Death Benefit option? A newborn is required to be covered for ______ days from the moment of birth. What is the contract called that is issued to an employer for a Group Medical Insurance plan? What are the levels of coverage as defined by the Affordable Care Act? What will the beneficiary receive if an annuitant dies during the accumulation period? The Healthcare Insurance Exchange offers plans for everyone. A producer has recently died and leaves behind a spouse. 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. 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. & \text{Ending}& \text{Beginning} & \\ Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. Which of these premium payment frequencies is not typically available to a policy owner? To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? How many months can a life insurance policy normally be backdated from the date of application? Both May and John are injured. 1. A. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? B.Change must be initialed by the applicant. In what part of insurance policy benefits found? 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. June 24, 2022 . The time limit for filing claim disputes is addressed in which provision of an accident and health policy? 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. Which of the following basics is a producer's fiduciary responsibility? 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? a. A. Temporarily Deposit the funds in a personal account. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. 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? by . In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? The policy's effective date is earlier than the present, A Renewable Term Life insurance policy can be renewed, At a predetermined date or age, regardless of the insured's health, A producer's secretary who solicits prospects on the telephone. Peter Griffith, Funeral Director of Lyndhurst Funeral Home. Term, Whole, and universal lifeinsurance. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Their offer/administration. New Jersey insurance law requires eligible individuals to make an election to continue health insurance benefits within a MAXIMUM of _____ days after coverage termination, A _____ insurance company is one that was formed under the laws of a state other than New Jersey, All of the following are typically included in a life insurance policy illustration EXCEPT, Claims payable to a Disability Income insured, even when the insured can continue to work, are the result of a. XYZ Corp pays the tax-deductible insurance premiums for a key employee disability policy. 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. The company did not retire any bonds or repurchase any of its own common stock during the year. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ 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. Final Exam - New Jersey Life and Health Flashcards | Quizlet Find out how you can intelligently organize your Flashcards. A producer may be disciplined by the Commissioner for which of the following actions? A producer has committed an insurance crime that violates US code 1033 (interstate commerce). C.) Unintentionally misrepresented a material fact on the application. Maria the agent would like to advertise an annuity product on a highway billboard. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. By Posted browning 725 pro sporting canada Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Making the policy effective on an earlier date than the present. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? A. 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. 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 the following is NOT a circumstance to which a temporary producer license can be issued? A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. Unintentionally misrepresented a material fact on the application. This is an unlawful practice known as, must be delivered with or prior to policy delivery. An individual can enroll in a Part C Medicare Advantage Plan at what time? Within how many days must a producer notify the Department of Banking and Insurance of a change in address? A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. 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. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? d. A covered employee if terminated for grossmisconduct. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? 1. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ 1. Howdoes one become eligible for part D: Prescription Drug Coverage? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. Which of these if NOT considered a form of life insurance advertisement? In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. Under a life insurance policy, what does the insuring clause state? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. An individual who has a hobby racing cars once a month. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. Which of the following is present when an applicant stands to lose value if the insured dies? Whichphase is this annuity in? 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. 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. A medicare supplement plan can be canceled by the insurer, Small employers who are sponsored by an insurer to provide group benefits to its employees are called, Health insurance involves two perils, accident and _____. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Whichof these will have the highest monthly payout upon Annuitization? May an insurance producer licensed in New Jersey but not in New York sell a life insurance policy to a New York resident while in New Jersey? What happens to the coverage under a children's term rider when that child reaches a certain specified age? 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. Mark continues working after the age of 65 and is covered through his employer's group health plan. 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?

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