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. The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. Tarathe producer is delivering a specified disease insurance policy to a new policyowner. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ 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. Tara the producer is delivering a specified disease insurance policy to a new policyowner. As beneficiary, he will pay__taxeson any money withdrawn. 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. 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. The insurer's obligation to pay a death benefit upon an approved death claim, Jennifer is required to pay a specific sum out of pocket before any benefits are paid in a year. 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. Twisting is an illegal act which involves, A producer does NOT have a fiduciary responsibility to. Under this plan a, Adoption of a child (an uninsured, eligible employee who acquires a new dependent through marriage, birth, or adoption may qualify for special enrollment in a small employer's health benefit plan). A separate converted policy may, at the option of the insurance company, be issued to cover a (n). A Long-Term Care policy may only exclude pre-existing conditions for up to _____ months, The identity of the ____ must be made clear in every health insurance advertisement, _______________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer, Pre-existing conditions may only be excluded from coverage for a maximum of 6 months. port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador D. Assist an insurer in determine an applicantscreditworthiness. Which option was chosen? When initial premium is collected and policy is issued. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. You are here: leeds city council repairs phone number 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. . Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? Afterwards, she deposits the check into her personal account. Maria would like an annuity that provides a guaranteed accumulation or payout. 59 and owned account for a minimum of 10 years, B. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Which of these if NOT considered a form of life insurance advertisement? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? You are here: how to remove chicken giblets a producers secretary who solicits prospects on the telephone. B. 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. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Who would make the final determination on whether or not an insurance advertisement is misleading? What would be an expense factor in a insurance program? If an insured dies during the grace period with no premiums paid. 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. Tim's individual life insurance policy has just recently lapsed. An individual can enroll in a Part C Medicare Advantage Plan at what time? 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. Unintentionally misrepresented a material fact on the application. With a past due premium of $100, the insurer pays $400. 2.1.1 6 Whole life Insurance in Malaysia The Commissioner issues a subpoena to a producer. Afterwards, she deposits the check into her personal checking account. Which of these may NOT be used in a health insurance advertisement? What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) OF 1985 allow an employee to do? Which of the following is NOT part of an insurance contact? On which date would Sonya have coverage? If a subscriber chooses a primary care physician outside of the network, the subscriber will likely pay, Paul is an employee who caught a disease unique to the trade in which he was exposed to. 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. Temporarily Deposit the funds in a personal account. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. All of these are responsibilities of the Commissioner EXCEPT, policy must be issued to XYZ, and a certificate must be issued to each employee, XYZ Corp was issued a group health policy for its employees. C. Normally graded over a period of 20 years. What are the levels of coverage as defined by the Affordable Care Act? Which of the following is NOT a requirement for soliciting insurance in Maryland? Making the policy effective on an earlier date than the present. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Which of these statements about Medicaid iscorrect? Whichphase is this annuity in? When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ She may reinstate her policy within _____ years. a producers secretary who solicits prospects on the telephone. B. Which of the following is considered a tax-deductible medical expenseunder this rule? Whichof these will have the highest monthly payout upon Annuitization? Shirley has a $500,000 10-year non-renewable level term life policy. Jay the producer is giving insurance advice regarding a prospect's existing coverage. A beneficiary has just received a claim payment for a life insurance policy. Which of the following does Coordination of Benefits allow? 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. Registered for the state insurance examination. D. The face amount and premiumwill remain constant over the 10-year period. Pierre the producer receives a premium for an individual health insurance policy. A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing. All of these are standard exclusions found in a life insurance policy EXCEPT. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. 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. In the event of employment termination, group insurance can be kept if the employee pays the premiums. A life insurance policyowner was injured in an automobile accident which results in a total and permanent disability. 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. When calculating the amount of life insurance needed for an income earner, what has to be determined when using he Needs Approach? Engaged in a fraudulent insurance practices. Focus of Major medical insurance is providingcoverage for: C. Medical and Hospitalization expenses. 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. Find out how you can intelligently organize your Flashcards. Course Hero is not sponsored or endorsed by any college or university. An individual who has a hobby racing cars once a month. Producing an inadequate amount of new premium. If credit life insurance is terminated before the scheduled maturity date of the debt, any unearned premium held by the insurer will be? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. An insurer formed according to the legal requirements of another country is called an. 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. Whichscenario would most life insurance policies exclude coverage for? What happens to the coverage under a children's term rider when that child reaches a certain specified age? Using derogatory statements about an insurance company's financial condition. Bob and Tom start a business. The New Jersey Life and Health Insurance Guaranty Association is, Funded by assessments on member companies. 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. A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. Which of the following is true concerning the proceeds of a life insurance policy? B.Change must be initialed by the applicant. 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. This is an unlawful practice known as, must be delivered with or prior to policy delivery. Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. What is the purpose of having an accelerated death benefit on a life insurance policy? 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. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. In the event of employment termination, group health insurance can be kept if the employee pays the premiums. What is the contract called that is issued to an employer for a Group Medical Insurance plan? A. Collectinga premium for insurance that is not provided. What types of life insurance are normally usedfor key employee indemnification? Maximizes productivity through use of appropriate tools; planned training and Columbia Care LLC . 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 settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? Pierre MUST remit the premium to his insurer within ___ business days of receipt. Which of the following is NOT considered to be an actof fraud? 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). ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. Determine financial strength of an insurance company, As classified by the Adorable Care Act (ACA), a silver plan offers. EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is, All of the following are core benefits of Medicare Supplement Plan A EXCEPT, Deductible payments for the first 60 days of hospitalization under Medicare hospitalization under Medicare hospitalization insurance, Statements made by an insurance applicant on an application are considered to be. Which of the following basics is a producer's fiduciary responsibility? When does a life insurance policy typically become effective? How often must an insurance producer's license in Maryland be renewed? Which of these is NOT an Unfair Claims Settlement Practice? Which of these is affected by the frequency of an insurance policy's premium payments? Terminally - ill life insurance policy owners may sell their policy at a discount to the third party. Who would most likely be coveredunder Workers Compensation? Within how many days must a producer notify the Department of Banking and Insurance of a change in address? a producers secretary who solicits prospects on the telephone. \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ 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. Which of the following situations would be suitable for a temporary work authority? c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. 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. \\ We'll bring you back here when you are done. What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? A whole life policy option where extended term insurance is selected is called a(n). Its balance sheet for this year is as follows: EndingBeginningBalanceBalanceCashandcashequivalents$48,000$57,000Accountsreceivable41,00044,000Inventory55,00050,000Totalcurrentassets144,000151,000Property,plant,andequipment150,000140,000Lessaccumulateddepreciation50,00035,000Netproperty,plant,andequipment100,000105,000Totalassets$244,000$256,000Accountspayable$32,000$57,000Incometaxespayable25,00028,000Bondspayable60,00050,000Commonstock70,00060,000Ratainedearnings57,00061,000Totalliabilitiesandstockholdersequity$244,000$256,000\begin{array}{l c c} In what form do disability income policies typically pay benefits? D. The face amount and premium will remain constantover the 10-year period. A term life insurance policy is what most people think of when they think about life insurance. In the advertising of Individual Life Insurance policies, an "introductory" or "special enrollment" may not be made available until any previous enrollment period for the same policy has been closed for at least how long? by geriford27, Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? 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. 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. What is this an example of? & \text{Balance}& \text{Balance} & \\ When the minor has been approved by the Commissioner, When collection insurance premiums from a client, a producer MUST, A. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. Which of the following is NOT a qualification to be licensed as a producer? How often must an insurance producer's license in Maryland be renewed? What may be the result of replacing an existing life insurance policy with a new one? Which of the following statements is TRUE about Medicaid? A. Whichof the following is a requirement for ANY change in an insurance application? A producer has recently died and leaves behind a spouse. The Right-to-Examine period in Maryland for Long-Term Care policies is ____ days. Complete the sentence using each term once. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. 16381 Chillicothe Rd, Chagrin Falls, OH 44023, USA 440-708-1855. search. A licensed producer is required to file notice of any change of address within how many days? Proceeds payable under a life insurance contract to a policyowner in anticipation of death or upon the occurrence of specified life-threatening conditions as defined by the policy are best described as: A temporary producer license in Maryland is valid for up to. Mikehas inherited his fathers traditional IRA. XZY company has applied for group health insurance for its employees. Julie has a $100,000 30-year mortgage on her new home. A silver level medical plan is what percent the insurance company pays for the employee and the other percent is what the employee pays out of pocket (Unders Insurance companies look at a number of factors when it comes to setting premiums for a particular company. C. Remain of their current coverage for 30 months. What does the amount of these credits represent? Elizabethis the beneficiary of a life insurance policy. It allows for cash advances to be paid against the death benefit if the insured becomes terminally ill. Who assumes the investment risk in a variable insurance contract? Which of the following does Medicare Part D cover? c. Travel accidental insurance premiums. 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. 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. Mary ran into John, another employee, who happened to be taking outthe garbage. Which of the following would be the appropriate tax consequence? When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Which of the following is NOT required in an order from the Commissioner? Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. Which of the following is NOT considered to be an act of fraud? 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? Whoassumes the investment risk with a fixed annuity contract? (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? A master contract and certificate of coverage can be found in which type of policy? A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). Any decrease in income resulting from this injury would make him eligible for benefits under which provision? \end{array} The proceeds of this contract could be subject to the claims of. How many days notice must the Commissioner give prior to a hearing? She paid the premium on May 15 with the policy indicating the effective date being May 30. 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. The face amount will remain constant and thepremium will increase over the 10-year period, C. The Premium will remain constant and the faceamount will increase over the 10-year period. The waiting period for a disability insurance policy, Excludes payments for a short term illness or injury. What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do ? 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. 1. Whatis the elimination period of an individual disability policy? An insurance producer is issued a _____ as evidence of authority. 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. B.Canceling a term life policy to buy a whole life policy. A. The IRS allows a taxpayer to deduct medicalexpenses of that exceed 7.5% of their adjusted grossincome. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Whichmarket index is normally associated with an indexed annuitys rate of return? 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. What does the Group Life underwriting risk selection process help protect insurance companies from? is one of the oldest and best known of all Barbadian funeral establishments. 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. An insurance company needs to obtain personal information from a third party concerning an applicant. b. Pat the client interest on any monies held. Both May and John are injured. Which of the following is an example of defamation? Which of the following is NOT a required provision in an accident and health insurance policy? To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. By Posted browning 725 pro sporting canada Please sign in to share these flashcards. In which of the following relationship would there NOT be an insurable interest? An attending physician's statement would be appropriate for which life insurance purpose? Which market index is associated with an indexed annuity's rate of return? A. One or morediagnostic, preventive, therapeutic, rehabilitative, maintenance or personalcare services in a setting other than an acute care unit of a hospital. Bob dies 12 months later. 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. Paul has an, An indemnity plan limitation that will pay the dental bills after a small amount is paid by the insured is called. Which of the following is typically NOT eligible for coverage in a group health policy? A. Atourist traveling abroad on a major airline carrier, B. Anindividual who has a hobby racing cars once a month, C. Anairline pilot who flies for a commercial carrier, B. AnIndividual who has a hobby racing cars once a month. Which of the following is NOT information found in a life insurance buyer's guide? Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium.
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