(To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Erica is 35 years old and owns an IRA. Which of the following is a requirement for ANY change in an insurance 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. Which of the following is NOT required in an order from the Commissioner? She would like to borrow $15,000 against the cash value. With a past due premium of $100, the insurer pays $400. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? a producers secretary who solicits prospects on the telephone A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Which of the following is NOT a common exclusion for a medical expense policy? What may be the result of replacing an existing life insurance policy with a new one? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ The ________ has the right to renew a small employer health plan. Engaged in a fraudulent insurance practices. You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. 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. is one of the oldest and best known of all Barbadian funeral establishments. A domestic insurance company in Maryland MUST, Collecting premiums and paying them to the insurance company. The two plans are fee-for-service and. How long is the Contestable Period for health insurance policies sold in Maryland? The standard grace period for a life insurance policy sold in Maryland is. A. Doctormay charge up to a maximum of 15% more than Medicare pays for the service, B. Doctoris not bound by Medicare limitations on charge, C. Doctorcannot charge more than Medicares scheduled coverage, D. Doctor bills the Medicare beneficiary directlyfor services performed, A. Alwaysrequires service in a network, B. Providesa greater choice of providers, C. Alwaysrequires a referral to specialists. Which of these may NOT be used in a health insurance advertisement? Proof of loss on a health insurance claim must be submitted to an insurer within _____ days after the insure's date of loss. This type of agreement is called an. What information would the insurer's underwriters likely use to determine the appropriate coverage and final premium rate given to the group? Providing claim payments to insureds under the guidelines of the insurance contract. A. D.) By providing consumer credit counseling. June 24, 2022 . 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. What is the primary purpose of a rating service company such as A.M. Best? Whatwould be an expense factor in an insurance program? Net death benefit will be reduced if the loan is not repaid. 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. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? Who would most likely be coveredunder Workers Compensation? Please sign in to share these flashcards. She recently replaced the policy with a new one that provides better coverage. Benefits for a Medicare Supplement policy. We weren't able to detect the audio language on your flashcards. Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. Which of these is likely to occur when life or health insurance is being applied for? 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. May 2020. What happens to interest earned if the annuitant dies before the payout start date? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. 1. audio not yet available for this language. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). 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. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? 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. Which of the following is NOT a qualification to be licensed as a producer? In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? Which of the following is true concerning the proceeds of a life insurance policy? Unintentionally misrepresented a material fact on the application. The company did not retire any bonds or repurchase any of its own common stock during the year. Pay for Medicare charges exceeding the approvedamount. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Which of these premium payment frequencies is not typically available to a policy owner? a producers secretary who solicits prospects on the telephone. His policy may be reinstated at any time within _____ years. Which of the following would be considered a "dependent child"? Shirley has a $500,000 10-year non-renewable level term life policy. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? Kathy pays a monthly premium on her health insurance policy. Which of these if NOT considered a form of life insurance advertisement? The type of annuity she is seeking is called? An amount the premium would have purchased at the correct age. 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). Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Which of the Uniform Optional Provisions covers this situation? by geriford27, After passing the state Producer licensing exam, application for the license must be made within, How long must an insurance company keep record on life insurance replacement activity, An insurance company that is organized or chartered in a country other than the United States is defined as, Advertisements of insurance in a local newspaper, must be approved by, Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit, Increase the premiums on an individual basis, Continued coverage under COBRA would be provided to a(n), A covered employee is terminated for gross misconduct, In New Jersey, health insurance advertisements are required to contain the, The purpose of a coordination-of-benefits provision in group health accident and health plans is to, If an insured dies during the grace period with no premiums paid, The policy would be payable, minus the premium amount, A 10% excise tax is normally applied to an early withdrawal from an IRA. belmont funeral home obituaries barbados It is health insurance for the elderly. To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? In event of acontroversy between the insured and the company, the producer is considered to representthe. You are here: leeds city council repairs phone number a producers secretary who solicits prospects on the telephone. a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. A producer may be disciplined by the Commissioner for which of the following actions? Kurt is an active duty serviceman who was recently killed in an accident while home on leave. What is this an example of? 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.) Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. Howsoon can the benefit payments begin with a deferred annuity? 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. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador 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? Find out how you can intelligently organize your Flashcards. Which of the following does Medicare Part D cover? How long is the Contestable period for health insurance policies sold in Maryland? An individual can enroll in a Part C Medicare Advantage Plan at what time? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Inwhich of the following situations would the insurer be liable for a loss? Which of the following is CORRECT regarding the death benefit amount. 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). Which military service exclusion clause would pay upon his death? Howare annuities given favorable tax treatment? Vaginal plastic surgery is made up of two main procedures, external and . b. Pat the client interest on any monies held. Determines what is paid by the primary and secondary insurers in the event of a claim, A producer has recently died and leaves behind a spouse. B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. b. 1. yabombay Flashcards | Quizlet Which of these will typically authorize treatment from a specialist? 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. 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. Which of the following is NOT information found in a life insurance buyer's guide? This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. The taxable portion of each annuity payment is calculated using which method? a producers secretary who solicits prospects on the telephone. 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. A _______ company is owned by its shareholders, The ___________ has the right to renew a small employer health plan, providing incorrect, misleading, incomplete, or materially untrue information in the license application, A producer who is licensed in Maryland but resident in another state is called a, A minor may receive a life insurance policy's death benefit ONLY, Interest on death benefits are NOT required to be paid by an insurance company as long as proceeds are paid within ______ after the date of the death of the insured, Submit to the replacing insurer a list of the policies to be replaced. a producers secretary who solicits prospects on the telephone. a producers secretary who solicits prospects on the telephone When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Who would make the final determination on whether or not an insurance advertisement is misleading? Which of the following is NOT part of an insurance contact?