For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) When are group disability benefits considered to be tax-free to the insured? If she dies 15 years after the policy's inception date, how much will her beneficiary receive? Which of the following statements is TRUE? A master contract and certificate of coverage can be found in which type of policy? 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. 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. Engaged in a fraudulent insurance practices. 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. Medical history from the insured may be reviewed and reported, If an insurer receives a notice of claim under an individual health policy, and fails to provide proof of loss forms within 15 days, the insured must, File a written proof of loss, detailing the occurrence, character and extent of loss. Healthinsurance will typically cover which of the following perils? The face amount and the premium will remain constant over the 10-year period. HIPPA considers which of the following as "individually identifiable health information"? Whowere Keogh Plans designed to provide pension benefits for? Who is the individual paid on a fee-for-service basis? 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. Which of the following is NOT considered to be an act of fraud? If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Which of the following unfair trade practices involves a producer who makes public malicious statements about an insurer's financial condition? The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. \\ Whichscenario would most life insurance policies exclude coverage for? & \text{Balance}& \text{Balance} & \\ Which of the following is NOT information found in a life insurance buyer's guide? On which date would Sonya have coverage? In Maryland, a producer may have his/her license revoked for which of the following acts? In the event of employment termination, group health insurance can be kept if the employee pays the premiums. 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. The death benefit paid will be what the premium would have purchased at the correct age. 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. Which of thesestatements is true? Which scenario would most life insurance policies exclude coverage for? 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). Who is eligible for insurance under a group policy issued to a labor union? She may reinstate her policy within _____ years. 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. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. 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. What does the Group Life underwriting risk selection process help protect insurance companies from? How often must an insurance producer's license in Maryland be renewed? A producer has recently died and leaves behind a spouse. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| ABC Corporation has a group life insurance policy that covers its employees and their dependent children. 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. Howare annuities given favorable tax treatment? This agreement is called an, Upon receiving a producer complaint, the Commissioner may immediatley, ABC Insurance Company transfers part of their risk to XYZ Insurance Company. Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? 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. 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. {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"Insurance\/Healt Agent Exam","payreferer_url":"\/flashcards\/copy\/insurance-healt-agent-exam--11456962","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. What is the contract called that is issued to an employer for a Group Medical Insurance plan? 1. Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? In what part of insurance policy benefits found? 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. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. To be classified as a small employer, an employer must NOT have more than _________ eligible employees, The _______ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant, During the examination of an insurer's books and records by the Commissioner, the insurer, remain in effect until a new one is issued, John the insurance producer has an insurance license that expires in 6 months. No federal income tax is owed on life insurance proceeds, A non-contributory health insurance plan helps the insurer avoid, States that have "no loss no gain" laws require a replacing policy to, Pay for ongoing claims under the policy it replaces. Which of the following is true concerning the proceeds of a life insurance policy? 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. 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. How much does Medicare Part B pay forphysician fees? \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Determine whether there are 0,1 , or 2 real solutions to f(x)=0. The two plans are fee-for-service and. 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. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. Please upgrade to Cram Premium to create hundreds of folders! 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. & \text{Ending}& \text{Beginning} & \\ Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? visas, binomial trials. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Over the course of a year, which premium payment mode is most expensive? A life insurance policyowner is allowed ____ days upon policy delivery to return the policy for a full premium refund, A producer's license MUST be renewed every _______ years, Collecting a charge for insurance that is less than the charge applicable to that insurance. Must be bonded through the state. The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) A. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. juin 5, 2022 . 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. An attending physician's statement would be appropriate for which life insurance purpose? 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. Using derogatory statements about an insurance company's financial condition. D. The face amount and premiumwill remain constant over the 10-year period. Which of the following is considered a tax-deductible medical expenseunder this rule? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? Because dividends are considered to be a return of premium. Elizabethis the beneficiary of a life insurance policy. 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. What type of life insurance could she purchase that is designed to pay off the loan balance if she dies within the 30-year period? An individual the means to replace wages. 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. 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. Whichof these will have the highest monthly payout upon Annuitization? Underthe Maryland health insurance plan, comprehensive health benefits are providedto. 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. 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? Tim's individual life insurance policy has just recently lapsed. Which of the following is NOT a required provision in an accident and health insurance policy?
Fridgemaster Water Dispenser Leaking, Land For Sale At Elevation 5,000 Feet In Nc, Articles A
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