a producers secretary who solicits prospects on the telephone

May an insurance producer licensed in New Jersey but not in New York sell a life insurance policy to a New York resident while in New Jersey? Which of the following MUST contain a "Statement of Policy Cost and Benefit Information"? \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ 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. At minimum, a carrier is required to offer which of the following health benefit plans to small employers? How soon can the benefit payments begin with a deferred annuity? According to HIPPA, this tax will not be applied if the withdrawal is used for medical expenses that exceed _____ of the individual's adjusted gross income. Registered for the state insurance examination. When an applicant passes a licensing examination and answers all background questions negatively. When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? 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. The Premium for a Modified whole life policy is: A. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? AMaryland insurance producer solicits an insurance policy. Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Upon delivery, she may be expected to collected all of the followingEXCEPT a(n), B. Signedimpairment rider acknowledgement, C. Modifiedapplication with a new signature, Oneof the most important considerations when replacing health insurance would bethe. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). A producer's secretary who solicits prospects on the telephone, When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions EXCEPT, In Maryland, a full-time employee of a small employer MUST work an average of at least _____ per week, A producer may begin to solicit insurance ONLY when. In Maryland, a Producer may have his/her license revoked for which of the following acts? Which of the following would be the appropriate tax consequence? Whichphase is this annuity in? \\ In event of acontroversy between the insured and the company, the producer is considered to representthe. She paid the premium on May 15 with the policy indicating the effective date being May 30. A. Collectinga premium for insurance that is not provided. Jim recently sold his whole life insurance policy under a critical settlement contract. B. Gainsare tax exempt at distribution. B. Whenthe application is collected and policy is issued, C. Whenthe application is completed and signed, D. Whenthe completed application is signed and initial premium is collected. audio not yet available for this language. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. 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. Krissa purchases a 10-year level term lifeinsurance policy that has a death benefit of $200,000. By Posted browning 725 pro sporting canada If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? 14 day waiting period / 10 year benefit period. Howare annuities given favorable tax treatment? Their offer/administration. Assist in the underwriting of insurance policies. 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. This type of agreement is called a, The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as, An advertisement for an insurance product may contain, Signing a prospect's name without their knowledge or presence. What is involved when a life insurance policy has been backdated? She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. Which of the Uniform Optional Provisions covers this situation? There are several types of whole life insurance that are as follow:- D. Assist an insurer in determine an applicantscreditworthiness. What will the beneficiary receive if an annuitant dies during the accumulation period? Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. The legal action provision in a health contract is limited to no more than ___ years. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. 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. Paul has a (n), Failingto Promptly provide a reasonable explanation for the denial of a claim is conservedto be a(n), AnHMO that involves a partnership of physicians and other providers who practiceout of a central facility is called a(n), Smallemployers who are spooned by an insurer to provider group benefits to itsemployees are called. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? An insurer may pay a commission in which of the following scenarios? A producer is meeting with a client to determine whether an annuity would be suitable for purchase. Submit to the replacing insurer a list of the policies to be replaced. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? Which of the following is an example of defamation? Which course of action must be taken by the Commissioner? Which of the following statements is TRUE? 1. Which of these riders will pay a death benefit if the insured's spouse dies? The applicant's medical history may be analyzed and reported, Which of the following MUST contain a "Statement of Policy Cost and Benefit Information". D.) Intentionally violated state insurance laws. This change is called a(n). An accident and health policy that provides reimbursement benefits makes them payable to the, A separate converted policy may, at the option of the insurance company, be issued to cover a, Dental treatment is needed to repair an injury. The Federal Employees Benefit Program consists of two types of health plans for federal civilian employees. HIPPA considers which of the following as "individually identifiable health information"? An insurance company needs to obtain personal information from a third party concerning an applicant. 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. Percent frequency distribution for key variables. Financial report from the previous year. What is issued to each employee of an employerhealth plan? AnIndividual can enroll in a part C Medicare Advantage Plan at what time? A. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? Eventually, they retire and dissolve the business. Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: 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. Which of thesestatements is true? In Maryland, a producer may have his/her license revoked for which of the following acts? By . Which of the following is NOT part of an insurance contract? Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? Which of the following statements is CORRECT regarding an individual applying for life or health insurance? b. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Afterwards, she deposits the check into her personal account. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? How much does Medicare Part B pay for physician fees? This is an unlawful practice known as, must be delivered with or prior to policy delivery. Which of these describes the change that will take place?A) Coordination of benefitsB) ConversionC) Extension of benefitsD) Rollover, Under a group life policy, the insurer will issue an individual _____ to the policyowner for delivery to each person insured.A) policyB) certificateC) applicationD) rider. A separate converted policy may, at the option of the insurance company, be issued to cover an. Claims for a Long-Term Care policy MUST be paid for which of the following conditions? A producer has recently died and leaves behind a spouse In order for A. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Who would most likely be coveredunder Workers Compensation? Former dependent of employee no longer ofdependent status. A Medicare supplement policy can be cancelled by the insurer for: Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. Which of the following is present when an applicant stands to lose value if the insured dies? An error was made on Erica's life insurance application. Whichof these will have the highest monthly payout upon annuitization? A producer may begin to solicit insurance ONLY. B.Change must be initialed by the applicant. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? Elizabethis the beneficiary of a life insurance policy. Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? An insurance company may ONLY pay a sales commission to, Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called. a producers secretary who solicits prospects on the telephone ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? a producers secretary who solicits prospects on the telephone An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. 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 _____. What does the word "level" in Level Term describe? Howdo interest earnings accumulate in a deferred annuity? Which rider would pay a monthly amount because of this disability? Johan the producer charged a fee to a sales prospect for analyzing insurance coverages A written statement describing the elements of a policy is called, All of the following are considered appropriate uses of life insurance for business purposes EXCEPT, Protecting the business by covering entry level employees with life insurance, An insured individual and the policy's beneficiary die from the same accident. 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. Annuities are intended to create an estate. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Whichmarket index is normally associated with an indexed annuitys rate of return? a producers secretary who solicits prospects on the telephone The coverage, condition, and limitations in the master policy of a group contract can be found in which document? Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. A. a producers secretary who solicits prospects on the telephone Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? Without a Section 125 Plan in place, what would happen to an employee's payroll contribution to an HSA? Final Exam - New Jersey Life and Health Flashcards | Quizlet The face amount and the premium will remain constant over the 10-year period. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? a producers secretary who solicits prospects on the telephone Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. In this situation, who will receive Bob's policy proceeds? Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ The names of the insurance companies represented by the producer. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Hill during her initial calls made to the call center. a producers secretary who solicits prospects on the telephone Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. B. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. 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. A. a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. A minimum of 12 months after date of purchase. 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. The policyholder for a group health benefit plan is considered to be the, A Medicare Supplement policy can be cancelled by the insurer for, As of January 1, 2007, producer's license expires, Every two years on the last day of the producer's birth month, An insurer has the right to recover payment made to the insured from the negligent party. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? She may reinstate her policy within _____ years. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Which of the following is NOT considered to be an act of fraud? Prospective producer who is waiting to take the state examination. Insurable interest can be established sufficiently by sentimental attachment alone, A life insurance policy written on one contract for two people in which it is payable upon the first death is called. The proceeds of this contract could be subject to the claims of. 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. _____ 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. What is the MINIMUM benefit period that must be offered by a Long-Term Care Policy? What types of life insurance are normally usedfor key employee indemnification? d. Individual disability income insurance premiums. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? Which of the following is NOT a duty of the Commissioner? A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. C. Remain of their current coverage for 30 months. As of January 1, 2014, small group health insurance can be rated on the basis of. 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. 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. \text{Net property, plant, and equipment} & \underline{\hspace{8pt}100,000} & \underline{\hspace{8pt}105,000} \\ Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Which of these statements is true? At the request of the insurer to assist in the underwriting decision. Ifan insurer refuses to pay a claim, how many days must the insured wait to takelegal action against a health insurer after submitting written proof of loss? 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. Whoassumes the investment risk with a fixed annuity contract? What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Whichof these benefit options would he choose? Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. This MANDATORY health policy provision states that the policy, including endorsements and attached papers, constitutes, The entire insurance contract between the parties, All of the following are elements of an insurance policy EXCEPT. 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. The ________ has the right to renew a small employer health plan. Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. How to take legal action against an insurance company. B. This illustration MUST disclose that. Pat is insured with a life insurance policy and Karen is his primary beneficiary. 5511. A newborn is required to be covered for ______ days from the moment of birth. d. A covered employee if terminated for grossmisconduct. Find out how you can intelligently organize your Flashcards. During the year, Ravenna paid a $6,000 cash dividend and it sold a piece of equipment for$3,000 that had originally cost $6,000 and had accumulated depreciation of$4,000. Which of the following is NOT part of an insurance contact? On which date would Sonya have coverage? Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance? Maria has committed what crime? A policyowner suffers an injury that renders him incapable of performing one or more important job duties. Engaged in a fraudulent insurance practices. Collecting a chargefor insurance that is less than the charge applicable to that insurance. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. To be eligible for small employer group coverage, anemployee must work a MINIMUM of __ hoursI a typical week. Which of the following is CORRECT regarding the death benefit amount. a producers secretary who solicits prospects on the telephone Craig submits a $500 claim for medical expenses. D. Coverage includes compulsory hospital andvoluntary supplementary medical insurance. 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). What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? How long is the Contestable Period for health insurance policies sold in Maryland? In the event of employment termination, group insurance can be kept if the employee pays the premiums. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? 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. 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. Maria the agent would like to advertise an annuity product on a highway billboard. Premium mode is a term used to describe the, A newborn is required to be covered for _____ days from the moment of birth, A clause that allows an insurer the right to terminate coverage at any anniversary date is called. Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Which disability policy provision would address any concerns of the value of the benefits decreasing over time? The producer decides not to respond. Introducing Cram Folders! Mikehas inherited his fathers traditional IRA. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? 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? a producers secretary who solicits prospects on the telephone; episcopal academy ice hockey; atlas copco fault codes 7008. serta idirections hybrid queen. We understand that this must have been both very frustrating and disappointing. In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest? It would be considered taxable income to the employee. What is this an example of? The prescription of a drug for treatments other than what's labeled is known as _____ use, Coverage for newborns under a health plan MUST include coverage for. Which of the following is NOT information found in a life insurance buyer's guide? 1. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. In what part of insurance policy benefits found? Which market index is associated with an indexed annuity's rate of return? d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. The standard grace period for a life insurance policy sold in Maryland is. Whichtype of life insurance is normally associated with a payor benefit rider? Maria would like an annuity that provides a guaranteed accumulation or payout. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. This type of agreement is called an. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. Alimited payment whole life policy provides. \text{Property, plant, and equipment} & \hspace{8pt}150,000 & \hspace{8pt}140,000 \\ What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? Find out how you can intelligently organize your Flashcards. All of these are standard exclusions found in a life insurance policy EXCEPT. Which military service exclusion clause would pay upon his death? D. The face amount and premiumwill remain constant over the 10-year period. Afterwards, she deposits the check into her personal checking account. Ahealth care provider claim may be settled using which of the following paymentmethods?

Is Andy Scott Married, Articles A