\text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ 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. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. A. Collectinga premium for insurance that is not provided. Course Hero is not sponsored or endorsed by any college or university. audio not yet available for this language. MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. 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. How soon can the benefit payments begin with a deferred annuity? Adoctor who accepts Medicare Assignment agree to which of the following ? 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. When initial premium is collected and policy is issued. The entity which issues the certificate of authority is the, A policyowner has _____ days after policy delivery to return a major medical policy for a full refund, make any transactions before being approved for a licence, counsels and advises the Governor on all matters assigned to the Maryland Insurance Administration, A Maryland insurance producer solicits an insurance policy. What happens when an insurance policy is backdated? All Medicare Supplement policies MUST contain which provision? When an applicant passes a licensing examination and answers all background questions negatively. Over the course of a year, which premium payment mode is most expensive? visas, binomial trials. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? Within how many days must a producer notify the Department of Banking and Insurance of a change in address? Which market index is associated with an indexed annuity's rate of return? The two plans are fee-for-service and. An insurance producer is issued a _____ as evidence of authority. A. Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) An applicant's character and personal habits can be obtained for underwriting purposes from which source? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. An amount the premium would have purchased at the correct age. Which type of disability would be less than total impairment and equal to permanent impairment? Complete the sentence using each term once. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? The type of annuity she is seeking is called? What is this an example of? C. Funded by federal, state, and local taxes. a producers secretary who solicits prospects on the telephone. How often must the Commissioner examine each domestic insurance company? How to take legal action against an insurance company. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. We weren't able to detect the audio language on your flashcards. Which of the following would have the HIGHEST premium? Mark continues working after the age of 65 and is covered through his employer's group health plan. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? What does the amount of these credits represent? Financial report from the previous year. Which of the following would be considered a "dependent child"? a. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? b. Pat the client interest on any monies held. a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . The producer decides not to respond. a producers secretary who solicits prospects on the telephone. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. Which of the following actions by a producer would NOT result in a license suspension or revocation? XZY company has applied for group health insurance for its employees. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ Within how many days must a producer report to the Commissioner any administrative actions made against him/her? In Maryland, an insurance producer cannot sell, solicit, or negotiate policies for an insurer unless there is an agreement in place between the producer and insurer. James is the insured on a life insurance policy where his age was misstated on the application. 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. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Pierre MUST remit the premium to his insurer within ___ business days of receipt. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. An attending physician's statement would be appropriate for which life insurance purpose? 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). She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. What is issued to each employee of an employerhealth plan? C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. It would be considered taxable income to the employee. 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. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). How much does Medicare Part B pay for physician fees? The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Which of the following statements is TRUE? It is health insurance for the elderly. If the company debited Accounts Receivable and credited Sales for $600,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? 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. Whendoes a life insurance policy typically become effective? B. Find out how you can intelligently organize your Flashcards. ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. Maria the agent would like to advertise an annuity product on a highway billboard. 14 day waiting period / 10 year benefit period. An individual who has a hobby racing cars once a month. 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. a. social stratification b. feminization of poverty c. social class d. social mobility e. bourgeoisie f. vertical mobility g. proletariat h. intergenerational mobility i. wealth j. horizontal mobility k. income l. open-class system m. prestige n. absolute poverty o. relative poverty p. caste system. 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.
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