Course Hero is not sponsored or endorsed by any college or university. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? Maria has committed what crime? How soon can the benefit payments begin with a deferred annuity? Howdoes one become eligible for part D: Prescription Drug Coverage? 1. The benefit can be offered as a rider at a specific extra cost or may be at no cost, All of the following are included as part of a contract in the entire contract provision EXCEPT the. Which of these will typically authorize treatment from a specialist? What amount will be paid under a policy where the insured misstated his/her age? What may be the result of replacing an existing life insurance policy with a new one? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? a producers secretary who solicits prospects on the telephone. 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. Find out how you can intelligently organize your Flashcards. Which of these will typically authorize treatment from a specialist? Introducing Cram Folders! Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. The names of the insurance companies represented by the producer. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ 1. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Which of the following would have the HIGHEST premium? 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. A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. Making the policy effective on an earlier date than the present. Financial report from the previous year. Frank is shopping for a disability income policy. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. b. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. How often must an insurance producer's license in New Jersey be renewed? Whichphase is this annuity in? 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 information found in a life insurance buyer's guide? 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? A Whole life policy option where extended terminsurance is selected is called a(n), A provision in a whole life policy that allows apolicy owner to terminate the policy in return for a reduced paid-up policy ofthe same type is called a(N). Which of the following is TRUE regarding the federal income tax? In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. Which of these riders will pay a death benefit if the insured's spouse dies? A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. D. Level for the first 5 years then decreases forthe remainder of the policy. Whichtype of life insurance is normally associated with a payor benefit rider? 5511. Which of the following is the likely result? Eventually, they retire and dissolve the business. An individual can enroll in a Part C Medicare Advantage Plan at what time? Which of the following topics needs to be discussed with this client? What is issued to each employee of an employerhealth plan? Former dependent of employee no longer ofdependent status. who would be responsible for the prosecution of this crime? 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. What is the purpose of a disability income benefit? 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. When are group disability benefits considered to be tax-free to the insured? Adoctor who accepts Medicare Assignment agree to which of the following ? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Howare annuities given favorable tax treatment? After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Which type of contract may NOT be issued by an insurance company? A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? James is the insured on a life insurance policy where his age was misstated on the application. A. Whichof the following is Medicare Part B also known as? How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? Kathy pays a monthly premium on her health insurance policy. An individual life insurance policy can be contested by the insurer only during the first _________ years of the contract, An order issued by the commissioner that prohibits a specific practice listed in the order is called a. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. She recently replaced the policy with a new one that provides better coverage. A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. This change is called a(n). Which of the following situations would be suitable for a temporary work authority? Re: Acting as insurance producer without a license Questions Presented 1. D. Administered by the federal government. A whole life policy option where extended term insurance is selected is called a(n). 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. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? Pat is insured with a life insurance policy and Karen is his primary beneficiary. Please select the correct language below. Which of the following statements is TRUE? 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. The common disaster provision states the insurer will continue as if, Carmen's individual life insurance policy has recently lapsed. C.) Unintentionally misrepresented a material fact on the application. 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. This is called a. \\ A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? 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. Long-term care insurance and Medicare Supplementplan have a free-look period of__ days. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? 1. A producer has committed an insurance crime that violates US code 1033 (interstate commerce). Vaginal plastic surgery is made up of two main procedures, external and . As of January 1, 2014, small group health insurance can be rated on the basis of. 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. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. Whatis the purpose of the medical information Bureau (MIB)? With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. A. Collectinga premium for insurance that is not provided. All Medicare Supplement policies MUST contain which provision? Which type of disability would be less than total impairment and equal to permanent impairment? Which of these may NOT be used in a health insurance advertisement? Which of the Uniform Optional Provisions covers this situation? a producers secretary who solicits prospects on the telephone. She may reinstate her policy within _____ years. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies?