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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? how many javan rhinos are left 2022; aquifer tim winton prezi; bloody mary lady gaga roblox id; . The coverage, condition, and limitations in the master policy of a group contract can be found in which document? 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 Healthcare Insurance Exchange offers plans for everyone. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. 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? How long is the Contestable Period for health insurance policies sold in New Jersey? Kathysannuity is currently experiencing tax-deferred growth until she retires. Why are dividends from a mutual insurer not subject to taxation? Since each partner contributes an important element to the success of the business, they decide to take life insurance policies out on each other, and name each other as beneficiaries. 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. A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. Duringthe accumulation period, who can surrender an annuity? a producers secretary who solicits prospects on the telephone In New Jersey, group health insurance may be offered to all of these groups EXCEPT. B. Gainsare tax exempt at distribution. This rider is called a(n). At minimum, a carrier is required to offer which of the following health benefit plans to small employers? 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. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? B. Recieve a tax credit to help offset the cost of health insurance. D. Level for the first 5 years then decreases forthe remainder of the policy. Pre-existing conditions may only be excludes from coverage for a maximum of 6 months, The reinstatement provision in a health insurance policy is, The type of policy where the insurer can send a notice to the insured that the policy has been cancelled in the middle of the term is called, Naming a contingent beneficiary as "all surviving children" is describing by which term, The entire contract includes the actual policy and the. Pat is insured with a life insurance policy and Karen is his primary beneficiary. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. Which of these riders will pay a death benefit if the insured's spouse dies? Find out how you can intelligently organize your Flashcards. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? 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. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. a producers secretary who solicits prospects on the telephone A newborn is required to be covered for ______ days from the moment of birth. by . Whatis the primary reason for buying an annuity? A producer may be disciplined by the Commissioner for which of the following actions? What may be the result of replacing an existing life insurance policy with a new one? B. B. Anytimewithin 12 months after date of purchase, C. Aminimum of 6 months after date of purchase, D. Aminimum of 12 months after date of purchase. 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. An error was made on Erica's life insurance application. If she dies 15 years after the policy's inception date, how much will her beneficiary receive? 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. \text{Accounts receivable} & \hspace{13pt}41,000 & \hspace{13pt}44,000 \\ 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 act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to asA)twistingB)subrogationC)a life settlementD) coercion. A producer's license may only be suspended or revoked if the producer, one or more diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital, Long-term care policies sold in Maryland may exclude coverage related to, The Life and health Guaranty Corporation provides funds to carry out its powers and duties by assessing, As of January 1, 2014, small group health insurance can be rated on the basis of, An individual covered under a Blue Cross Blue Shield plan is called a, An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a, Funding for Medicare Part B is partially provided by, Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility, MEWA (Multiple Employer Welfare Arrangement), Small employers who are sponsored by an insurer to provide group benefits to its employees are called. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? 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. What is the purpose of the Medical Information Bureau (MIB)? 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. Which type of coverage pays an amount per day for hospitalization directly to the insured regardless of the insured's other health insurance? 1. Which of these if NOT considered a form of life insurance advertisement? If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? \text{Inventory} & \underline{\hspace{13pt}55,000} & \underline{\hspace{13pt}50,000} \\ At the request of the insurer to assist in the underwriting decision. 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. Which of the following is NOT a common exclusion for a medical expense policy? An attending physician's statement would be appropriate for which life insurance purpose? B. Providea risky, yet high return investment, Fixedannuities provide each of the following EXCEPT. Which of the following would be the appropriate tax consequence? Both partners are still married at the time of Bob's death. Which of the following would have the HIGHEST premium? 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. Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. 59 and owned account for a minimum of 5 years, C. 70 and owned account for a minimum of 10 years, D. 70 and owned account for a minimum of 5 years, A. Cancelingdisability policy to buy a term life policy, B. Cancelinga term life policy to buy a whole life policy, C. Cancelinga long-term care policy to buy a whole life policy, D. Cancelinga whole life policy to buy a major medical policy. A. Allof these are considered key factor in underwriting life insurance EXCEPT, Anapplicant intentionally lying to an insurance company on an application inorder to obtain a cheaper premium is an example of. Ahealth care provider claim may be settled using which of the following paymentmethods? How often must an insurance producer's license in Maryland be renewed? Producing an inadequate amount of new premium. Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . Submit to the replacing insurer a list of the policies to be replaced. C) Unintentionally misrepresented a material fact on the application. Introducing Cram Folders! What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Upon delivery, she may be expected to collect all of the following EXCEPT a(n), Modified application with a new signature, All of these are valid policy dividend options for a life insurance policyowner EXCEPT. What is involved when a life insurance policy has been backdated? 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? Which of the following does Medicare Part D cover? a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. The policies continue in force with no change. If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. A separate converted policy may, at the option of the insurance company, be issued to cover a (n). Which of the following must be included in the advertisement? 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. 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. 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? Collecting a chargefor insurance that is less than the charge applicable to that insurance. The standard grace period for a life insurance policy sold in Maryland is. 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. D. The face amount and premium will remain constantover the 10-year period. Failingto promptly provide a reasonable explanation for the denial of a claim isconsidered to be a (n). Within how many days must a producer report to the Commissioner any administrative actions made against him/her? How often must an insurance producer's license in New Jersey be renewed? {"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"}}. In a group health care, what is the purpose of the coordination of benefits provision? 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. The Premium for a Modified whole life policy is: A. Re: Acting as insurance producer without a license Questions Presented 1. Julie has a $100,000 30-year mortgage on her new home. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. 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. 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). Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. 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. 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. a producers secretary who solicits prospects on the telephone. Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. A beneficiary has just received a claim payment for a life insurance policy. What happens to coverage under a children's term rider when that child reaches a certain specified age? What does the amount of these credits represent? What is created after policy proceeds areobtained in a lump sum and then immediately invested? 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 producer may begin to solicit insurance ONLY. 1. 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 professional liability for which producers can be sued for mistakes of putting a policy into effect is called. a producers secretary who solicits prospects on the telephone. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. Maria the agent would like to advertise an annuity product on a highway billboard. D. Administered by the federal government. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. 5511. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? who would be responsible for the prosecution of this crime? Which of the following is an example of defamation? How much does Medicare Part B pay forphysician fees? Which of the following is Medicare Part B also known as? This type of agreement is called an. A policyowner suffers an injury that renders him incapable of performing one or more important job duties.