How soon can the benefit payments begin with a deferred annuity? Bob dies 12 months later. We understand that this must have been both very frustrating and disappointing. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ 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 producer may be disciplined by the Commissioner for which of the following actions? Changing from one occupation to another at the same general status is called _____. Jim recently sold his whole life insurance policy under a critical settlement contract. 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. Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? An individual can enroll in a Part C Medicare Advantage Plan at what time? 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. Level premium permanent insurance accumulates a reserve that will eventually, Ambiguities in an insurance policy are always resolved in favor of the, Chapter 11 Exam - New Jersey Laws and Rules, Life Insurance Policies - Provisions, Options, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Daniel F Viele, David H Marshall, Wayne W McManus. a producers secretary who solicits prospects on the telephone Former dependent of employee no longer ofdependent status. Duringthe accumulation period, who can surrender an annuity? Ahealth care provider claim may be settled using which of the following paymentmethods? 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. A doctor who accepts Medicare Assignment agrees to which of the following? Whatis the elimination period of an individual disability policy? Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. Which of the following is NOT considered to be an act of fraud? What does the amount of these credits represent? a producers secretary who solicits prospects on the telephone 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. 1. A. The rider is called a(n), All if these are valid options for an adjustable life policy except, A non forfeiture option can be used to increase the death benefit. 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. Which of the following is typically NOT eligible for coverage in a group health policy? In Maryland, a producer may have his/her license revoked for which of the following acts? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? What is this an example of? Which of the following is NOT a common exclusion for a medical expense policy? Which entity is responsible for processing insurance advertising in New Jersey? Which of the following statements is TRUE? a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. Which of the following is true concerning the proceeds of a life insurance policy? a producers secretary who solicits prospects on the telephone Which of the Uniform Optional Provisions covers this situation? _____ is NOT an element of valid contract, The automatic premium loan provision authorizes an insurer to withdraw from a policy's cash value at the amount of, Past due premiums that have not been paid by the end of the grace period. Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. 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). This type of agreement is called an. How long must an individual be unable to engage in any gainful activity due physical or mental disability in order to qualify for Social Security Total Disability? In event of acontroversy between the insured and the company, the producer is considered to representthe. 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. B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. 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. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. 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? Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? Higher than the typical whole life policy duringthe first few years and then lower than typical for the remainder. Therole of the federal government was expanded when Medicaid was establish byallowing the state to, A. Froma large PPO on a statewide level, B. Purchasehealth insurance from the federal government, C. Receivematching funds to expand public assistance programs, D. Deferall costs to the federal government for public assistance program, Anaccident and Health policy that Provides reimbursement benefits makes them payable to the, Paulis an employee who caught a disease unique to the trade in which he was exposedto. Mike has inherited his fathers traditional IRA.As beneficiary, he will pay __Taxes on any money withdrawn. Using derogatory statements about an insurance company's financial condition. Which of the following is required for an insurer to conduct business in this state? What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Which of the following is Medicare Part B also known as? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. A whole life policy option where extended term insurance is selected is called a(n). A. Which rider would pay a monthly amount because of this disability? Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) D. Adjustable, permanent, and limited-pay lifeinsurance. Which of these riders will pay a death benefit if the insured's spouse dies? 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. Which of these if NOT considered to be a purpose of an annuity? D.) Intentionally violated state insurance laws. Final Exam - New Jersey Life and Health Flashcards | Quizlet Before conducting an HIV related test, an insurer is REQUIRED to obtain written authorization from the. 59 and owned account for a minimum of 10 years, B. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? The death benefit paid will be what the premium would have purchased at the correct age. In advertisements of life insurance and annuities, all of the following are true EXCEPT, Advertisements must include training materials provided to the producer. This change is called a(n). The policy automatically converts to whole lifeafter the 10-year period, B. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? An insurance producer is issued a _____ as evidence of authority. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? In which of the following relationship would there NOT be an insurable interest? Within how many days must a producer notify the Department of Banking and Insurance of a change in address? Please sign in to share these flashcards. When does a life insurance policy typically become effective? Which of thesestatements is true? To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. a producers secretary who solicits prospects on the telephone. What does the word "level" in Level Term describe? D. The face amount and premiumwill remain constant over the 10-year period. 2.1.1 6 Whole life Insurance in Malaysia An insurer formed according to the legal requirements of another country is called an. In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. Which of the following is NOT a duty of the Commissioner? June 24, 2022 . How long must a life insurance policy be in effect before the policy owner may use the non forfeiture provision? Howdoes one become eligible for part D: Prescription Drug Coverage? What is the contract called that is issued to an employer for a Group Medical Insurance plan? Their offer/administration. Whichtype of injury would NOT be covered under a health insurance policy? A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. Which military service exclusion clause would pay upon his death? Mary ran into John, another employee, who happened to be taking outthe garbage. James is the insured on a life insurance policy where his age was misstated on the application. Which of these statements is true? Percent frequency distribution for key variables. Whoregulates the quality of care provided by a health maintenance organization(HMO), a. Secretaryof department of health and mental hygiene, b. NationalAssociation of insurance commissioners, A.Secretary of the department of health and mental hygiene. 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 60 What happens when an insurance policy is backdated? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. Which market index is associated with an indexed annuity's rate of return? belmont funeral home obituaries barbados What will the beneficiary receive if an annuitant dies during the accumulation period? Whoassumes the investment risk with a fixed annuity contract? Mark continues working after the age of 65 and is covered through his employer's group health plan. c. Solve the equation f(x)=0, if possible. If an insured dies during the grace period with no premiums paid. 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. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. a producers secretary who solicits prospects on the telephone In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? Which type of disability would be less than total impairment and equal to permanent impairment? 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. How many employees must an employer have for a terminated employee to be eligible for COBRA? A closed network plan offers a primary physician copay of $25. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? Craig submits a $500 claim for medical expenses. A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting . 1. 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. On Social Security disability for over two years, D.Falling below the federal poverty level, D. Falling below the federal poverty level, Field underwriting performed by the producer involves, Completing the application and collecting initial premium, A provision that allows a policy owner to withdraw a policy's cash value interest free is a(n). Prospective producer who is waiting to take the state examination. The renewability provision for an individual long-term care insurance policy must be located on the policy form's, The ______________________ must be notified of a licensee's address change within 30 days of such change, Producers must complete a total of _______ Continuing Education hours for each two-year licensing period, A Medicare Supplement policy may exclude coverage for a preexisting condition for up to ____ months. B.) This is called a. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? Fundingfor Medicare Part B is Partially provided by. Which of these if NOT considered a form of life insurance advertisement? They are both involved in an automobile accident where Pat dies instantly and Karen dies 5 days later Key Person Disability Insurance pays benefits to the. A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT, An insurance consultant is BEST defines as a. B. 1. How many days notice must the Commissioner give prior to a hearing? 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. What amount will be paid under a policy where the insured misstated his/her age? Temporarily Deposit the funds in a personal account. 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? The concept is simple - the insured buys the policy and names Life insurance pays after a persons death to help family members pay for debt, lost income, or funeral costs (Life Insurance 686). 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. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application
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