a producers secretary who solicits prospects on the telephone
The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ A newborn is required to be covered for ______ days from the moment of birth. juin 5, 2022 . Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? A life insurance policyowner does NOT have the right to, A Guaranteed issue insurance policy has no. 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. 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. Reggie purchased a life insurance policy with a face amount of $500,000. a producers secretary who solicits prospects on the telephone Which of the following is NOT considered to be an act of fraud? C. Protects consumers with guidelines regarding creditreporting and distribution. In what part of insurance policy benefits found? Introducing Cram Folders! After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? Erica is 35 years old and owns an IRA. Maria is a Preferred Provider Organization (PPO) subscriber and received care from an out-of-network provider. Whatdoes the word Level in level term describe? In which of the following relationship would there NOT be an insurable interest? A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? 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. Afterwards, she deposits the check into her personal checking account. 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. Which of these will typically authorize treatment from a specialist? 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. audio not yet available for this language. A prorated death benefit based on the amount of insurance the insured's premiums would have been if purchased at the correct age, A guaranteed issue insurance policy has no, A single premium cash value policy can be described as, A policy that is paid up after only one payment. C. Funded by federal, state, and local taxes. How long is the Contestable period for health insurance policies sold in Maryland? Whowere Keogh Plans designed to provide pension benefits for? The replacing policy may only impose a ____ month time exclusion for pre-existing conditions, forward premiums to the insurer on a timely basis, When collecting insurance premiums from a client, a producer MUST, Once a health insurance policy has been in force for _______ years, the policy may NOT be contested by the insurer, cancelling a term life policy to buy a whole life policy, All of these types of benefits may be covered by a nonprofit health service plan EXCEPT, have it's content approved by the commissioner. -is an example of the illegal act called twisting -must be bonded through the state -must be licensed as a producer -is not required to be licensed as a producer must be licensed as a producer Producers selling insurance in New Jersey while having a residence and business address Find out how you can intelligently organize your Flashcards. A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? B. Recieve a tax credit to help offset the cost of health insurance. The type of annuity she is seeking is called? A producer's secretary who solicits prospects on the telephone: a) is an example of the illegal act called twisting . a producers secretary who solicits prospects on the telephone Term, Whole, and universal life insurance, C. Joint, credit, and group life insurance. a producers secretary who solicits prospects on the telephone. Under a disability income policy, which provision would be payable if the cause of an injury is unexpected and accidental? New Jersey Department of Banking Insurance, A limited payment whole life policy provides, All advertisements for health insurance shall make clear the identity of the, The double indemnity provisions in a life insurance policy pertains to an insured's death caused by a. Mike has inherited his father's traditional IRA. When is an existing health insurance policy required to provide coverage for a newborn child, a producer who shares commissions with a client. 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. Unintentionally misrepresented a material fact on the application. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered. A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured? 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. Intereston death benefits are NOT required to be paid by an insurance company as longas proceeds are paid within __ after the date of the death of the insured. Which type of contract may NOT be issued by an insurance company? A closed network plan offers a primary physician copay of $25. 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| A producer has recently died and leaves behind a spouse. Which situation accurately describes a reduced paid-up nonforfeiture option? is one of the oldest and best known of all Barbadian funeral establishments. A non-contributory health insurance plan helps the insurer avoid, An employee under a group insurance policy has the right to name a beneficiary and the right to, A) remain on the group in the event of employment termination, D) Convert to an individual policy in the event of employment termination, D) Convert to an individual policy in the event of employment termination, All of the following are Characteristics of a group life insurance plan EXCEPT, Tim is covered under a group plan and would like to change his group coverage to an individual policy with the same insurer because of employment termination. What is the purpose of the Medical Information Bureau (MIB)? Where would policy proceeds be paid if both the insured and primary beneficiary were killed in the same accident? A whole life policy option where extended term insurance is selected is called a(n). Anindividual covered under a Blue Cross Blue shield is called a(n), Aclosed network plan offers a primary physician copay $25. Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? A master contract and certificate of coverage can be found in which type of policy? Insurance producer Kelly offers an insured a $500 shopping card if an insurance product is purchased through her. Which of the following is NOT a required provision in an accident and health insurance policy? Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. A Medicare Supplement policy may exclude coverage fora preexisting condition for up to __months. Which of the following is the likely result? An individual the means to replace wages. What amount will be paid under a policy where the insured misstated his/her age? a producers secretary who solicits prospects on the telephonecapricorn and virgo flirting. James is the insured on a life insurance policy where his age was misstated on the application. Doctor cannot charge more than Medicare's scheduled coverage, Health insurance advertisements that mention statistical information are required by New Jersey law to. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? 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? 5511. 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. 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. 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. belmont funeral home obituaries barbados (To help answer this question, create an Accounts Receivable T-account and insert the beginning and ending balances.) Who would be responsible for the prosecution of this crime? A. Timeperiod an insured must wait before coverage begins, B. Timeperiod a disabled person must wait before benefits are paid, C. Timeperiod after the policy issue date in which the provisions are stillcontestable, Inan insurance contract, the element that shows each party is giving something ofvalue is called. B.) 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. 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. Which type of long-term care benefit would be most appropriate for a stroke victim who requires speech therapy administered at her home? A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? An error was made on Erica's life insurance application. A Whole life policy option where extended terminsurance is selected is called a(n), A provision in a whole life policy that allows apolicy owner to terminate the policy in return for a reduced paid-up policy ofthe same type is called a(N). Whichof these benefit options would he choose? How much does Medicare Part B pay for physician fees? At the request of the insurer to assist in the underwriting decision. B. 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. 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. 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. Inwhich of the following situations would the insurer be liable for a loss? Chapter 8 Texas Laws and Rules Pertinent to I, NY state insurance license practice exam ques, Chapter 16: Private Insurance Plans for Senio, Totalliabilitiesandstockholdersequity, Fundamentals of Financial Management, Concise Edition, Anexo del Real Decreto 1630/2006 Educacin in. Howare annuities given favorable tax treatment? An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? MedicarePart A does not pay for medical benefits provided for treatment in a skillednursing facility beyond. Which of these premium payment frequencies is not typically available to a policy owner? . Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. Allows the secondary payor to reduce their benefit payments so no more than 100% of the claim is paid, A producer who shares commissions with a client. How to take legal action against an insurance company. \text{Income taxes payable} & \hspace{13pt}25,000 & \hspace{13pt}28,000 \\ Both partners are still married at the time of Bob's death. Insurance/Healt Agent Exam Flashcards - Cram.com a producers secretary who solicits prospects on the telephone a producers secretary who solicits prospects on the telephone A producer who sells an individuallife insurance policy in Maryland MUST deliver to the policy owner a(n), b. Hill during her initial calls made to the call center. When the word "insurance" appears in a producer's business name, which of the following words cannot be approved? How long must a life insurance policy be in effect before the policyowner may use the nonforfeiture provision? 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 of the following is the likely result? Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If a subscriberchooses a primary care physician outside of the network, the subscriber willlikely pay, Medicareprovides coverage for each of the following EXCEPT. C. Normally graded over a period of 20 years. \\ On which date would Sonya have coverage? This illustration MUST disclose that. In New Jersey, group health insurance may be offered to all of these groups EXCEPT. 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. Maria the agent would like to advertise an annuity product on a highway billboard. What types of life insurance are normally usedfor key employee indemnification? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. Whena qualified plan starts making payments to its recipient, which portion of thedistributions is taxable? assure full and truthful disclosures to the public, All of the following are typically included in a life insurance policy illustration EXCEPT. 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? Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. What is the required action to be taken by a Maryland licensee before operating under an assumed business name? She would like to borrow $15,000 against the cash value. 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. Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? 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. What may be the result of replacing an existing life insurance policy with a new one? Determine whether there are 0,1 , or 2 real solutions to f(x)=0. Unit 4 Assign Rubric Impact of Colonial Experience (2).pdf, 0B1FC21B-547A-410E-8D8F-64E2A8C35084.jpeg, My Path Assessment Editor _ WorldQuant University.pdf, Oral liquid 50 microgramsml Tablet 625 micrograms 250 micrograms epinephrine, spirit its source is what constitutes religion This can be traced to the, Write in a brief description for the bubbles with underlined words 2 Choose a, BUS 1021 Organizational Behavior (OB) Consulting Assignment.edited11.docx, lOMoARcPSD11771818 True or False The above plot shows clear evidence that the, 2 Non tariff barriers which are further classified into two categories a, CTS115 - Chapter 5 - Case Study - Denial of Service -Moss.docx, The fallacy described as a red herring is most similar to a False cause b, Copy of Algebra Unit 2, Concepts 1, 2, 3.pdf, The model is used to describe the interaction of external forces that affect an, EVM Presentation - Project Management .pptx, What is the shape usually used to refer to the curve that illustrates. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? We weren't able to detect the audio language on your flashcards. Financial report from the previous year. If an insured dies during the grace period with no premiums paid. a. A producer has recently died and leaves behind a spouse In order for Their offer/administration. An ___________ insurance company is one that was formed under the laws of another country outside of the U.S. 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). Cram has partnered with the National Tutoring Association, Comparing Health Insurance Rates And Suppliers. Sonya applied for a health insurance policy on April 1. Who would make the final determination on whether or not an insurance advertisement is misleading? \\ In the event of employment termination, group health insurance can be kept if the employee pays the premiums. When does a life insurance policy typically become effective? In this situation, who will receive Bob's policy proceeds? d. Individual disability income insurance premiums. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. 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. 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? Which of the following is the likely result? 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. One of. Howsoon can the benefit payments begin with a deferred annuity? C.) Unintentionally misrepresented a material fact on the application. An insurance producer who replaces an existing policy by making false written or oral statements is committing the act of, A license MUST notify the Commissioner of an address change with ___ Days of the change. The death benefit paid will be what the premium would have purchased at the correct age. \text{Cash and cash equivalents} & \$\ \hspace{5pt}48,000 & \$\ \hspace{5pt}57,000 \\ Under a life insurance policy, what does the insuring clause state? Tara the producer is delivering a specified disease insurance policy to a new policyowner. The legal action provision in a health contract is limited to no more than ___ years. A type of group that has a constitution and bylaws andhas been organized for purposes other than obtaining insurance is called awhat? All of these are standard exclusions found in a life insurance policy EXCEPT. In order for the producer's insurance business to continue, the Department of Banking and Insurance may issue to the producer's spouse a. The commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? \end{array} This agreement is called an, Upon receiving a producer complaint, the Commissioner may immediatley, ABC Insurance Company transfers part of their risk to XYZ Insurance Company. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? 1. 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}
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