a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephone

A doctor who accepts Medicare Assignment agrees to which of the following? What happens to interest earned if the annuitant dies before the payout start date? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. AnIndividual can enroll in a part C Medicare Advantage Plan at what time? Which of these is NOT considered to be a risk factor in life insurance underwriting? Introducing Cram Folders! 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). A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? Who is required to notify the producer in the event of appointment termination? 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. Which law do all insurers and their producers need to comply with? The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Who would be responsible for the prosecution of this crime? 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? What is the MINIMUM benefit period that must be offered by a Long-Term Care policy? A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. Collecting a chargefor insurance that is less than the charge applicable to that insurance. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. 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. Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. The law that established insurance transactions regulated by the states is called. 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. Please select the correct language below. A producer has recently died and leaves behind a spouse. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. A whole life policy option where extended term insurance is selected is called a(n). A beneficiary has just received a claim payment for a life insurance policy. Which disability policy provision would address any concerns of the value of the benefits decreasing over time? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. . Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. Whendoes a life insurance policy typically become effective? This change is called a(n). Which of these is NOT a characteristic of the Accelerated Death Benefit option? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Which of the following actions is REQUIRED by an agent who is replacing an existing life insurance policy? Whichtype of injury would NOT be covered under a health insurance policy? Former dependent of employee no longer ofdependent status. This type of agreement is called a, The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as, An advertisement for an insurance product may contain, Signing a prospect's name without their knowledge or presence. Re: Acting as insurance producer without a license Questions Presented 1. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. Which of these is affected by the frequency of an insurance policy's premium payments? Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. 59 and owned account for a minimum of 5 years, C. 70 and owned account for a minimum of 10 years, D. 70 and owned account for a minimum of 5 years, A. Cancelingdisability policy to buy a term life policy, B. Cancelinga term life policy to buy a whole life policy, C. Cancelinga long-term care policy to buy a whole life policy, D. Cancelinga whole life policy to buy a major medical policy. D. Adjustable, permanent, and limited-pay lifeinsurance. Which of the following basics is a producer's fiduciary responsibility? Which of these may NOT be used in a health insurance advertisement? 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? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? A master contract and certificate of coverage can be found in which type of policy? The type of annuity she is seeking is called? The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. D. Administered by the federal government. A closed network plan offers a primary physician copay of $25. 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. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. A policyowner suffers an injury that renders him incapable of performing one or more important job duties. -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 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. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. a. Mustmeet certain underwriting guidelines. 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. D. Licensedproducers not appointed by an insurer. Tim's individual life insurance policy has just recently lapsed. Find out how you can intelligently organize your Flashcards. 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. Which type of life insurance policy is this? At what age can she begin to receive distributions without a tax penalty? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ Write a sentence explaining its significance to the executive branch. How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? Whichof the following is a requirement for ANY change in an insurance application? In event of acontroversy between the insured and the company, the producer is considered to representthe. Producing an inadequate amount of new premium. \text{Total liabilities and stockholders' equity} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ Chapter 8 Texas Laws and Rules Pertinent to I, NY state insurance license practice exam ques, Chapter 16: Private Insurance Plans for Senio, Totalliabilitiesandstockholdersequity, Fundamentals of Financial Management, Concise Edition, Anexo del Real Decreto 1630/2006 Educacin in. 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? When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? What does the word "level" in Level Term describe? a)When the policy owner notifies the insurance company, c.)When the required additional premium is paid, d.) No more than 10 days after date of birth, The double indemnity provision in a life insurance policy pertains to an insured's death caused by a(n), A) the policy would be payable, minus the premium amount, B) the policy would be payable only after the beneficiary makes past due premium payment, C) all past premiums will be refunded with interest, An insurance producer agrees to pay the first monthly premium for an insurance applicant. What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. who would be responsible for the prosecution of this crime? 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. A life insurance policy is hallowed ___ days upon policy delivery to return the policy for a full premium refund.. An order issued by the commissioner that prohibits a specific practice listed in the order is called a (n). Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? 1980 camaro z28 for sale in canada; fixer upper homes for sale clarksville, tn; crossroads inn leechburg menu A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. D.) By providing consumer credit counseling. What does the amount of these credits represent? This is an unlawful practice known as, must be delivered with or prior to policy delivery. A producer may be disciplined by the Commissioner for which of the following actions? What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? Changing from one occupation to another at the same general status is called _____. 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. Frank is shopping for a disability income policy. James is the insured on a life insurance policy where his age was misstated on the application. Because dividends are considered to be a return of premium. Which of these premium payment frequencies is not typically available to a policy owner? D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. 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His policy may be reinstated at any time within _____ years. Which of the following is NOT considered to be an act of fraud? When is an existing health insurance policy required to provide coverage for a new born child? This is called a. Commissioner may impose an administrative penalty. 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. How often must an insurance producer's license in Maryland be renewed? Which of the following is NOT a qualification to be licensed as a producer? Who regulates the quality care provided by a health maintenance organization (HMO)? The individual is paying premiums that are priced for each year or Use LEFT and RIGHT arrow keys to navigate between flashcards; Use UP and DOWN arrow keys to flip the card; Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of instability. How to take legal action against an insurance company. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? \end{array} Which of the following does Coordination of Benefits allow? 5511. \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ Which of the following actions by a producer would NOT result in a license suspension or revocation? We understand that this must have been both very frustrating and disappointing. A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. An error was made on Erica's life insurance application.