Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)? Under a Traditional IRA, Interest earned istaxed. Jim recently sold his whole life insurance policy under a critical settlement contract. Write a sentence explaining its significance to the executive branch. a. Mustmeet certain underwriting guidelines. Donnaand Mary were racing bicycles in a store parking lot while being cheered on by fellowemployees. D. Level for the first 5 years then decreases forthe remainder of the policy. Whendoes a life insurance policy typically become effective? Change must be initialed by the applicant, A producer who sells an individual life insurance policy in New Jersey MUST deliver to the policyowner. What does the Group Life underwriting risk selection process help protect insurance companies from? A. Collectinga premium for insurance that is not provided. ARoth IRA owner must be a least what age in order to make tax-free withdrawals? Within how many days must a producer report to the Commissioner any administrative actions made against him/her? Which of the following statements is TRUE? Which of the following is NOT a qualification to be licensed as a producer? Selecting an insurance organization ought to be founded on a few components that can be broken into two general gatherings: Whatis the purpose of the medical information Bureau (MIB)? Which of the following is the likely result? If he files an application for renewal before the expiration date, his license will, A Medicare Supplement policy can be cancelled by the insurer for, Recording the receipt and distribution of premiums due to an insurer is considered a producer's _________ responsibility. A. 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. Which of the following life events would allow an uninsured employee to qualify for special enrollment in a small employer health benefit plan? Similar to the differen o Term Life insurance: an individual is buying protection for a specific period of time. What happens to the total amount of premium paid for an insurance policy when the payment frequency increases? Assist in the underwriting of insurance policies. Who would make the final determination on whether or not an insurance advertisement is misleading? 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? who would be responsible for the prosecution of this crime? Advertising material for a life insurance policy does NOT need to contain which of the following? a producers secretary who solicits prospects on the telephone Call us (+254) 722 22 99 44 Email polucon@polucon.com Our Laboratories Nairobi & Mombasa fort worth murders 1990s Home Services a producers secretary who solicits prospects on the telephone Micro-Biology Services Agri - Services Instrumentation Division Environment Division 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. To be eligible for small employer group coverage, an employee must work a MINIMUM of ____ hours in a typical week. B.Change must be initialed by the applicant. With a usual, customary, and reasonable fee, Which of these is NOT a qualifying event for Medicare, A. 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. Unintentionally misrepresented a material fact on the application. This rider is called a(n). 59 and owned account for a minimum of 10 years, B. Contact; a producers secretary who solicits prospects on the telephonepossum playing dead in the yard. Whathappens when an insurance policy is backdated? Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. In this situation, who will receive Bob's policy proceeds? When an insured has a major medical plan with first dollar coverage, how does this impact the benefits paid? In event of acontroversy between the insured and the company, the producer is considered to representthe. The type of annuity she is seeking is called? At minimum, a carrier is required to offer which of the following health benefit plans to small employers? . Which of these premium payment frequencies is not typically available to a policy owner? Which of these statements about Medicaid iscorrect? Course Hero is not sponsored or endorsed by any college or university. If an insured's age on a life insurance policy has been misstated, what is the insurer's liability if the insured dies? A life insurance policy which contains cash values that vary according to its investment performance of stocks is called. The taxable portion of each annuity payment is calculated using which method? a producers secretary who solicits prospects on the telephone. She paid the premium on May 15 with the policy indicating the effective date being May 30. National Milk Producers Federation 2107 Wilson Blvd., Suite 600 Arlington, VA 22201 Phone: 703-243-6111 E-mail: info@nmpf.org Our Future You series provides a range of topical advice and guidance via webinars and podcasts. A producer has committed an insurance crime that violates US Code 1033 (interstate commerce). \text{Accounts payable} & \$\ \hspace{5pt}32,000 & \$\ \hspace{5pt}57,000 \\ A policy owner may exercise which of these dividend options that uses the dividend to pay all or part of the next premium due? Which type of contract may NOT be issued by an insurance company? A debtor may receive Credit Life insurance in which of the following forms? 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). In the event of the employment termination, group health insurance can be kept if the EMPLOYEE pays the premiums, A health insurer must be provided with written proof of loss _____ days after the date of loss, A producer must notify the Commissioner within _____ days of a felony conviction. After 15 years, the cash value has accumulated to $100,000 and the police's face amount has become $600,000. 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 A master contract and certificate of coverage can be found in which type of policy? Must be bonded through the state. Which situation accurately describes a reduced paid-up nonforfeiture option? Who is eligible for insurance under a group policy issued to a labor union? The policy automatically converts to whole lifeafter the 10-year period, B. Former dependent of employee no longer ofdependent status. A hospital or medical expense policy will typically cover dental treatment expenses under which circumstance? May 2020. 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. When an insured changes to a more hazardous occupation, which disability policy provision allows an insurer to adjust policy benefits and rates? by . 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. Prospective producer who is waiting to take the state examination. a producers secretary who solicits prospects on the telephone old restaurants in lawrence, ma . Which of the following is NOT considered to be an actof fraud? 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. 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. At what age does the open enrollment period typically begin for Medicare Supplement coverage? Pay for Medicare charges exceeding the approvedamount. B. The funeral of Wayne Emmerson Wilson leaves Downes and Wilson Funeral Home, Eagle Hall, St.Fax: 540-662-2627. Changing from one occupation to another at the same general status is called _____. \text{Bonds payable} & \hspace{13pt}60,000 & \hspace{13pt}50,000 \\ This change is called a(n). Continued coverage under COBRA would be providedto all of the following EXCEPT: a. 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. 1. Duringthe accumulation period, who can surrender an annuity? Erica is 35 years old and owns an IRA. Which of the following must be included in the advertisement? 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. An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of, An ____ _____ sells, solicits, or negotiates insurance contracts for compensation, All of these activities require an individual to hold a producer's license EXCEPT, Jim recently sold his whole life insurance policy under a viatical settlement contract.