For large samples, describe the sampling distribution of, (p^1p^2)\left( \hat { p } _ { 1 } - \hat { p } _ { 2 } \right) 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). A. Collectinga premium for insurance that is not provided. Who would be responsible for the prosecution of this crime?
a producers secretary who solicits prospects on the telephone What is the required action to be taken by a Maryland licensee before operating under an assumed business name? \text{Total current assets} & \underline{\hspace{8pt}144,000} & \underline{\hspace{8pt}151,000} \\ Howdo interest earnings accumulate in a deferred annuity? What are the levels of coverage as defined by the Affordable Care Act? AMaryland insurance producer solicits an insurance policy. What happens to interest earned if the annuitant dies before the payout start date? In Maryland, a Producer may have his/her license revoked for which of the following acts? \text{Common stock} & \hspace{13pt}70,000 & \hspace{13pt}60,000 \\ A life insurance policy sold in Maryland can be cancelled for nonfraudulent misstatements for up to, A person who has a contract with an insurance company to represent it, To a licensed producer who is appointed with the insurer. At what age does the open enrollment period typically begin for Medicare Supplement coverage? Which of the following is NOT part of an insurance contact? A plan in which an employer pays insurance benefits from a fund derived from the employer's current revenues is called. Underthe Maryland health insurance plan, comprehensive health benefits are providedto. Which of these is NOT an Unfair Claims Settlement Practice? Her health policy most likely contains a(n). Who would make the final determination on whether or not an insurance advertisement is misleading? \text{Total assets} & \underline{\underline{\hspace{3pt}\$244,000}} & \underline{\underline{\hspace{3pt}\$256,000}} \\ B.) Which of the following is TRUE regarding the federal income tax?
OGC Opinion No. 05-04-21: Acting as insurance producer without a An individual the means to replace wages. Because dividends are considered to be a return of premium. the daily amount paid for nursing home care, All long-term care policies sold in North Dakota are REQUIRED to pay the SAME daily benefit amount for "at home" care as paid for. Which of the following is Medicare Part B also known as? & \text{Balance}& \text{Balance} & \\ Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Must be bonded through the state. 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. A. Afterwards, she deposits the check into her personal account. There are several types of whole life insurance that are as follow:- Which option was chosen? Who would most likely be coveredunder Workers Compensation? Which of these may NOT be used in a health insurance advertisement? A. a producers secretary who solicits prospects on the telephone. 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. An agent is required to keep replacement forms on file for at LEAST _____ years, When a Medicare supplement policy is purchased during the open enrollment period, The policy must be issued regardless of health status, Have it's content approved by the Insurance Commissioner. A. Whichscenario would most life insurance policies exclude coverage for? 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. When an applicant passes a licensing examination and answers all background questions negatively. C. Normally graded over a period of 20 years. Which of the following enables a life policy to be replaced with another life policy and results in the postponement of the tax consequence? Please upgrade to Cram Premium to create hundreds of folders! 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. 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. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. An effort by an existing insurer to prevent replacement and continue existing Life Insurance in force is known as which of the following? Upon delivery, she may be expected to collected all of the followingEXCEPT a(n), B. Signedimpairment rider acknowledgement, C. Modifiedapplication with a new signature, Oneof the most important considerations when replacing health insurance would bethe. 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. Medicare Part A does not pay for medical benefits provided for treatment in a skilled nursing facility beyond. a. Oneor more diagnostic, preventive, therapeutic, rehabilitative, maintenance orpersonal care services in a setting other than an acute care unit of ahospital. In which of the following relationship would there NOT be an insurable interest? How many months can a life insurance policy normally be backdated from the date of application? Which of the following describes a person who is NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies? Whichphase is this annuity in? 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? An insurer formed according to the legal requirements of another country is called an. Engaged in a fraudulent insurance practices. A doctor who accepts Medicare Assignment agrees to which of the following? The Premium for a Modified whole life policy is: A. Which type of rider will waive the premium on a child's life insurance policy if the parent paying the premium dies? A. An error was made on Erica's life insurance application. Maryland requires that a licensee completes ______ hours of continuing education on the subject of ethics every reporting period. B. Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. D.In the event of employment termination, group health insurance can be kept if the employer pays the premium. This illustration MUST disclose that. A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? An insurer must furnish to a claimant forms for filing proof of loss within ___ days upon receiving a notice of claim. Why are dividends from a mutual insurer not subject to taxation? by recommending insurers with good AM Best ratings, C.) With guidelines regarding credit reporting and distribution. The Office of General Counsel issued the following opinion on April 25, 2005, representing the position of the New York State Insurance Department. The type of annuity she is seeking is called?
A producer has recently died and leaves behind a spouse In order for Upon receiving a producer complaint, the Commissioner may immediately A producer may begin to solicit insurance ONLY when, A.) 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). All of these are valid options for an Adjustable Life Policy EXCEPT, A nonforfeiture option can be used to increase the death benefit. Elizabethis the beneficiary of a life insurance policy. Which of the following does Coordination of Benefits allow? How often must the Commissioner examine each domestic insurance company? Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. In what part of insurance policy benefits found? Aninsureds status under social security can be described as, Along-term care policy typically provides all of the following levels of careEXCEPT. A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification? A. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? Wherewould policy proceeds be paid if both the insured and primary beneficiary werekilled in the same accident? b. Incomeif an insured is unable to work for a period of over six months, c. Coveragefor excess charges not paid for under Medicare. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? B. Protects insurers from an applicantsMisrepresentation, C. Protect consumers with guidelines regardingcredit reporting and distribution. Which of the following would disqualify a company's retirement plan from receiving favorable tax treatment? Which of the following is an example of fraud? Failing to renew license on timely basics, C.) Sharing Commissioners with another licensed Producer, D.) Signing a prospect's name without thier knowledge or presence, The Fair Credit Reporting Act Protects consumers, B.) 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. 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. \text{Ratained earnings} & \underline{\hspace{13pt}57,000} & \underline{\hspace{13pt}61,000} \\ The time limit for filing claim disputes is addressed in which provision of an accident and health policy? 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. Maria would like an annuity that provides a guaranteed accumulation or payout. 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. 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 is NOT a characteristic of the Accelerated Death Benefit option? 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. Whichof the following is a requirement for ANY change in an insurance application? 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. Both partners are still married at the time of Bob's death. A term life insurance policy is what most people think of when they think about life insurance. An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? a producers secretary who solicits prospects on the telephone. Which of the following is NOT considered to be an act of fraud? EXECUTIVE SUMMARY. Maryland requires that a licensee completes___ hours of continuing education on the subject of ethics every reportingperiod. B. Collectinga charge for insurance that is less than the charge applicable to thatinsurance, C. Misappropriateor unreasonably withhold premiums or returned premiums. How often must an insurance producer's license in Maryland be renewed?
a producers secretary who solicits prospects on the telephone 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. How long is the Contestable period for health insurance policies sold in Maryland? \quad \text{Less accumulated depreciation} & \underline{\hspace{13pt}50,000} & \underline{\hspace{13pt}35,000} \\ To be classified as a small employer in Maryland, and employer must employ, Secretary of the Department of Health and Mental Hygiene. Howsoon can the benefit payments begin with a deferred annuity? Providing claim payments to insureds under the guidelines of the insurance contract. An attending physician's statement would be appropriate for which life insurance purpose? Which of the following is NOT a federal requirement of a qualified plan? Bob dies 12 months later. B.Canceling a term life policy to buy a whole life policy. A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. Actively solicits increases in limits and/or coverages or rounding out accounts through sales to clients at every service contact. Advertising material for a life insurance policy does NOT need to contain which of the following? 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. Which of these is likely to occur when life or health insurance is being applied for? PartA Hospital expense coverage provided under Medicare is automatically madeavailable to each of the following EXCEPT, A. A50-year-old individual who has qualified for SSDI in the last 24 months, B. A70-year-old NOT Eligible for Social Security, C. A55-year-old suffering from kidney failure. c. Send receipt of payment to the commissioner, d. Forward Premiums to the insurer on a timely basics. Bob and Tom start a business. What does the Group Life underwriting risk selection process help protect insurance companies from? 5151\left|\begin{array}{ll}5 & 1 \\ 5 & 1\end{array}\right| The two plans are fee-for-service and. by . HIPPA considers which of the following as "individually identifiable health information"? When a qualified plan starts making payments to its recipient, which portion of the distributions is taxable? All of these are standard exclusions found in a life insurance policy EXCEPT. Arollover from a Traditional IRA to another IRA must be done within __ days toavoid tax consequences. A producer may be disciplined by the Commissioner for which of the following actions? D. The face amount and premium will remain constantover the 10-year period.