Which of the following is a requirement for ANY change in an insurance application? Howare annuities given favorable tax treatment? D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. B. Gainsare tax exempt at distribution. C.) Unintentionally misrepresented a material fact on the application. Howsoon can the benefit payments begin with a deferred annuity? 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} His policy may be reinstated at any time within _____ years. 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. With a past due premium of $100, the insurer pays $400. 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 Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) 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. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Over the course of a year, which premium payment mode is most expensive? When are group disability benefits considered to be tax-free to the insured? Anapplicants character and personal habits can be obtained for underwritingpurposes from which source? a. Mustmeet certain underwriting guidelines. What does the word "level" in Level Term describe? a producers secretary who solicits prospects on the telephone. Normally pay for losses arising from: Which of these would an insurer consider when determining whether to accept a group life plan? An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. By . C. Funded by federal, state, and local taxes. Whichphase is this annuity in? a producers secretary who solicits prospects on the telephonecrumbl cookies franchise applicationcrumbl cookies franchise application Whichscenario would most life insurance policies exclude coverage for? An eligible employee can be excluded from group health coverage for up to _______ months is he/she is considered a "late enrollee". Unintentionally misrepresented a material fact on the application. \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ At what age can she begin to receive distributions without a tax penalty? Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. June 24, 2022 . 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? Which entity is responsible for processing insurance advertising in New Jersey? 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? What is the maximum fine for a producer violating a New Jersey Insurance law for the first time? Which of the following must be included in the advertisement? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ HIPPA considers which of the following as "individually identifiable health information"? C. Normally graded over a period of 20 years. 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 the following is typically NOT eligible for coverage in a group health policy? A branch office registration form is required to be filed at least _____ days before selling insurance out of that branch. In Maryland, a full-time employee of a small employer MUST work an average of at least ___ per week. A. Toaccept or decline insurance applicants, B. Toset the premium rates for insurers, D. Toperform physical examination on applicants. Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. 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. Which of these statements is true? Which of the following statements is TRUE? a producers secretary who solicits prospects on the telephone. Whichof these is considered to be a document that describes the critical segments ofa life insurance policy? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Lower than the typical whole life policy duringthe first few years and then higher than typical for the remainder. 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. Which of the following situations would be suitable for a temporary work authority? 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. d. Alump sum payment upon first diagnosis of cancer, heart attack, or stroke. How often must an insurance producer's license in New Jersey be renewed? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? The policy automatically converts to whole lifeafter the 10-year period, B. 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. B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Complete the sentence using each term once. _____ 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. 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. Whichof these will have the highest monthly payout upon annuitization? Which of these is affected by the frequency of an insurance policy's premium payments? Employee must be able to make unlimited contributions. Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? she may need to resume premium payments, depending on actual results, Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of non guaranteed values. An insurance producer is issued a _____ as evidence of authority. Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? Which of the following is an example of defamation? Which option was chosen? 5511. A Medicare Supplement policy may be cancelled by an insurer for which of the following reasons? Which type of disability would be less than total impairment and equal to permanent impairment? Vaginal plastic surgery is made up of two main procedures, external and . At minimum, a carrier is required to offer which of the following health benefit plans to small employers? She would like to borrow $15,000 against the cash value. 2.1.1 6 Whole life Insurance in Malaysia 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. What is created after policy proceeds areobtained in a lump sum and then immediately invested? Jay the producer is giving insurance advice regarding a prospect's existing coverage. Which of the following is NOT a qualification to be licensed as a producer? Which of the following areas do error commonly occur on applications and for which the incontestable clause does NOT apply? If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Who would make the final determination on whether or not an insurance advertisement is misleading? In a group health care, what is the purpose of the coordination of benefits provision? If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. 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. Which of these will typically authorize treatment from a specialist? 1. It is administrated by the federal government, C. It is funded by federal, state, and local taxes. Add to folder Joanne has a $100,000 whole life policy with an accumulated $25,000 of cash value. 1. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? B. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? Which of the following may be used as continuation education credit? 14 day waiting period / 10 year benefit period. Using derogatory statements about an insurance company's financial condition. 1. In what part of insurance policy benefits found? B. Guaranteedlifetime withdrawal benefit, D. Guaranteedminimum accumulation benefit. Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? ashlyn 72" ladder bookcase / la montagne jean ferrat partition piano pdf / a producers secretary who solicits prospects on the telephone. AMaryland insurance producer solicits an insurance policy. If an insurer refuses to pay a claim, how many days must the insured wait to take legal action against a health insurer after submitting written proof of loss? Philsshopping for an annuity that guarantees he CANNOT outlive the benefits. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Whatis created after policy proceeds are obtained in a lump sum and thenimmediately invested? In what form do disability income policies typically pay benefits? \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ This is an unlawful practice known as, must be delivered with or prior to policy delivery. Kurt is an active duty serviceman who was recently killed in an accident while home on leave. b. Pat the client interest on any monies held. 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.
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