Introducing Cram Folders! b. Which of these statements about Medicaid iscorrect? 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. \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. Who would be responsible for the prosecution of this crime? The ____ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant. Which of the following is NOT a federal requirement of a qualified plan? 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. Mariais a preferred provider organization (PPO) subscriber and received care from anout-of-network provider. 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 enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) A. Collectinga premium for insurance that is not provided. 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. 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. Changing from one occupation to another at the same general status is called _____. is one of the oldest and best known of all Barbadian funeral establishments. In a group health care, what is the purpose of the coordination of benefits provision? 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. A long-term care policy typically provides all of the following levels of care EXCEPT, A life insurance policy that has premiums fully paid up within a stated time period is called, A securities license is required for a life insurance producer to sell, In contrast to a guaranteed renewable policy, a noncancellable policy. 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. If the company debited Accounts Receivable and credited Sales for $600,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? Afterwards, she deposits the check into her personal account. 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). 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 policies continue in force with no change. She is receiving the deathbenefit in payments of $10,000 per month until the principal and interest hasbeen paid out. Whathappens when an insurance policy is backdated? What is the purpose of having an accelerated death benefit on a life insurance policy? Which of these if NOT considered to be a purpose of an annuity? There is protection of proceeds against the insured's and the beneficiary's creditors, Susan is insured through her Group Health Insurance plan and changed her coverage to an individual plan with the same insurer after her employment was terminated. This situation is called, Written notice of a health insurance claim should be given to the insurer within _____ days after the occurrence of any loss covered by the policy, To conduct insurance business in this State, an insurer must be issued a certificate of authority. Converting a group plan to permanent lifeinsurance requires: D. The conversion being applied for within 31 daysof termination. Unintentionally misrepresented a material fact on the application. 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. Whattype of beneficiary should be named if the insured wants to give explicitdirections on how the policy proceeds should be paid? The entity which issues the certificate of authority is the, A policyowner has _____ days after policy delivery to return a major medical policy for a full refund, make any transactions before being approved for a licence, counsels and advises the Governor on all matters assigned to the Maryland Insurance Administration, A Maryland insurance producer solicits an insurance policy. a)When the policy owner notifies the insurance company, c.)When the required additional premium is paid, d.) No more than 10 days after date of birth, The double indemnity provision in a life insurance policy pertains to an insured's death caused by a(n), A) the policy would be payable, minus the premium amount, B) the policy would be payable only after the beneficiary makes past due premium payment, C) all past premiums will be refunded with interest, An insurance producer agrees to pay the first monthly premium for an insurance applicant. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? C. Careis only covered in a government facility, D. Careis only covered if primary care physician gives a referral, Theopen enrollment period for Medicare part B is, D. Generaltax revenue and user premiums. Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Which disability policy provision would address any concerns of the value of the benefits decreasing over time? A professional liability for which producers can be sued for mistakes of putting a policy into effect is called. This is an unlawful practice known as, must be delivered with or prior to policy delivery. On which date would Sonya have coverage? Which of the following is NOT required in an order from the Commissioner? 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 the likely result? Benefits provided by a Medicare Supplement policy must NOT, Funding for Medicare Part B is partially provided by. Which of these statements is true? Which of the following actions is REQUIRED by a producer who is replacing an existing life insurance policy? Which scenario would most life insurance policies exclude coverage for? port clinton high school athletics / roberto bettarini ambassador / roberto bettarini ambassador Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. 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. How long after its effective date will an individual life insurance policy become incontestable? Which of the following statements is TRUE about Medicaid? Mark continues working after the age of 65 and is covered through his employer's group health plan. Commissioner may impose an administrative penalty. C. Protects consumers with guidelines regarding creditreporting and distribution. The producer decides not to respond. How is a health provider reimbursed if they do NOT have an agreement in place with the insurance company? May 2020. You are given the graphs of several functions of the form f(x)=ax2+bx+cf(x)=a x^2+b x+cf(x)=ax2+bx+c for different values of a, b, and c. For each function. 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. 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. 1. In the marketplace there are four various tiers of coverage, ranging from, bronze to platinum. An insurance company needs to obtain personal information from a third party concerning an applicant. In what form do disability income policies typically pay benefits? The law that established insurance transactions regulated by the states is called. Which type of contract may NOT be issued by an insurance company? An example of a primary care physician would be an, A fee for service health insurance plan will normally cover. All Medicare Supplement policies MUST contain which provision? Erica is 35 years old and owns an IRA. When initial premium is collected and policy is issued. Submit to the replacing insurer a list of the policies to be replaced. We weren't able to detect the audio language on your flashcards. a. Mustmeet certain underwriting guidelines. b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. 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. Which of the following does Medicare Part D cover? The statement which best describes the relationship between the relationship between the premiums of a whole life policy and the premium payment period is, The shorter the payment period, the higher the premium. A. 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. An insurer formed according to the legal requirements of another country is called an. Find out how you can intelligently organize your Flashcards. In accordance with New Jersey law, a Producer must remit health insurance premiums to the insurer within what period? Who would make the final determination on whether or not an insurance advertisement is misleading? Which rider would pay a monthly amount because of this disability? 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. A producer's secretary who solicits prospects on the telephone Must be licensed as a producer Which of the following is a requirement for ANY change in an insurance application? 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 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. What geographic factor makes Antarctica's ice caps drier than deserts in Africa and Asia? With a past due premium of $100, the insurer pays $400. A. Changemust be initialed by the agent, B. Changemust be initialed by the applicant, C. Changemust be approved by the insurer. B. What is created after policy proceeds areobtained in a lump sum and then immediately invested? She may reinstate her policy within _____ years. The death benefit paid will be what the premium would have purchased at the correct age. What does the consolidated Omnibus Budget Reconciliation ACT (COBRA) of 1985 allow an employee to do? Maria has committed what crime? The promise of a discount in premium as an inducement to purchase insurance is known as, exchanging a new policy for one already in force, with guidelines regarding credit reporting and distribution, The Fair Credit Reporting Act protects consumers, Terminally-ill life insurance policyowners may sell their policy at a discount to a third party. Adoctor who accepts Medicare Assignment agree to which of the following ? 1. Under a Traditional IRA, Interest earned istaxed. Whichscenario would most life insurance policies exclude coverage for? A licensee MUST notify the Commissioner of an address change within _______ days of the change, Violations of US Code Title 18 section 1033 may result in, In the state of Maryland, a licensed producer, sharing commissions with other licensed and appointed agents, All of the following actions are considered rebating EXCEPT, Under the Maryland Health Insurance Plan, comprehensive health benefits are provided to, A producer who knowingly submits a false statement in support of a claim. EXECUTIVE SUMMARY. How often must an insurance producer's license in Maryland be renewed? When are group disability benefits considered to be tax-free to the insured? Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. What is the purpose of a disability income benefit? Which of the following is NOT a common exclusion for a medical expense policy? In the event of employment termination, group insurance can be kept if the employee pays the premiums. \\ Because dividends are considered to be a return of premium. Which settlement option pays a stated amount toan annuitant, but no residual value to a beneficiary? a producers secretary who solicits prospects on the telephone. To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. What is this an example of? A. Which of these premium payment frequencies is not typically available to a policy owner? Which of the following is the likely result? What is the primary purpose of a rating service company such as A.M. Best? What are the levels of coverage as defined by the Affordable Care Act? Over the course of a year, which premium payment mode is most expensive? June 24, 2022 . Mikehas inherited his fathers traditional IRA. a producers secretary who solicits prospects on the telephone. June 5, 2022 . Write a sentence explaining its significance to the executive branch. 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. 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. Any decrease in income resulting from this injury would make him eligible for benefits under which provision? A life insurance policy is hallowed ___ days upon policy delivery to return the policy for a full premium refund.. An order issued by the commissioner that prohibits a specific practice listed in the order is called a (n). Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. 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. Which settlement options pays a stated amount to an annuitant but no residual value to a beneficiary? B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. This is called a, A minor may receive a life insurance policy's death benefit ONLY, B. With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. Premium mode is term used to describe the: The Fair Credit and Reporting Acts main purposeis to: A. What does the Group Life underwriting risk selection process help protect insurance companies from? Which of the following is not a reason for the Commissioner to deny or refuse a producer license application? A. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. 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. 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. In Maryland, a producer may have his/her license revoked for which of the following acts? Complete the sentence using each term once. assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. How often must an insurance producer's license in Maryland be renewed? by geriford27, Which of the followingunfair trade practices involves an agent who makes malicious statements aboutanother person's financial condition? What will the beneficiary receive if an annuitant dies during the accumulation period? a producers secretary who solicits prospects on the telephone Welcome To Be Falcon Solutions Website Hotline & WhatsApp : +971556212280 | Landline : +97143873596 , +97167499398 james reynolds obituary popeyes vs chicken express do venmo requests expire yorba linda football maxpreps primary care physicians in cleveland ohio The face amount and the premium will remain constant over the 10-year period. Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? Both May and John are injured. Hill during her initial calls made to the call center. Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. 1. 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. ABC Insurance Agency is entering each applicant who purchases insurance through their agency into a drawing to win a free trip. When must a claim on a life insurance policy be paid after proof of loss has been received by the insurer? Which of the following may be used as continuation education credit? 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? ABC Corporation has a group life insurance policy that covers its employees and their dependent children. (p^1p^2). A producer has recently died and leaves behind a spouse. Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? How long is her grace period? She paid the premium on May 15 with the policy indicating the effective date being May 30. 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. Which military service exclusion clause would pay upon his death? 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. 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).

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