Exam (elaborations)
XCEL Chapter 11 - Laws and Rules Exam Questions with Solutions
- Course
- Institution
XCEL Chapter 11 - Laws and Rules Exam Questions with Solutions
[Show more]
Content preview
XCEL Chapter 11 - Laws and RulesExam Questions with Solutions
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. This agreement is called a(n) - -appointment
-what kind of insurance provides coverage for one or more necessary or
appropriate diagnostic, preventive, therapeutic, rehabilitative, maintenance,
or personal care services in a setting order than an acute care unit of a
hospital? - -long-term care
-Twisting is - -the unfair trade practice of replacing an insurance policy from
one insurer to another based on misrepresentation.
-All of these activities require an individual to hold a producer's license
EXCEPT - -providing referrals
-An insurance producer is BEST defined as - -a person who has a contract
with an insurance company to represent it
-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 - -accelerated
benefits
-which of the following life events would allow an uninsured employee to
qualify for special enrollment in a small employer health benefit plan? - -
Adoption of a child
-Who is required to notify the producer in the event of appointment
termination? - -Insurer
-All of these may be an unfair claims practice EXCEPT - -Refusing to pay
persons bringing false or fraudulent claims
-An example of misrepresentation is - -providing incorrect, misleading,
incomplete, or materially untrue information in the license application
-All of the following are typically included in a life insurance policy
illustration EXCEPT - -Names of the beneficiaries
-Which license is REQUIRED in order to solicit Long Term Care insurance in
the State of Maryland? - -Health Insurance Producer License
, -At minimum, a carrier is required to offer which of the following health
benefit plans to small employers? - -The standard plan
-A producer's renewal date for his/her resident insurance license is on or
before - -the last day of the licensee's birth month
-A domestic insurance company in Maryland MUST - -be formed under
Maryland insurance laws
-Which of the following is required for an insurer to conduct business in this
state? - -Certificate of Authority
-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. - -60
days enrollment period
-a producer's license must be renewed every ____ year(s). - -2
-Maria the insurance producer completes a sale by collecting the required
signatures on the application and obtaining the initial premium. Afterwards,
she deposits the check into her personal checking account. Maria has
committed what crime? - -Fraud
-Kiara filled out a life insurance application and was given a policy
illustration that showed future premiums being paid out of nonguaranteed
values. This illustration MUST disclose that - -she may need to resume
premium payments depending on actual results
-a producer's secretary who solicits prospects on the telephone - -must be
licensed as a producer
-An order issued by the commissioner that prohibits a specific practice listed
in the order is called a - -cease and desist order
-Which of the following is NOT a reason for the Commissioner to deny or
refuse a producer license application? - -Unintentionally misrepresented a
material fact on the application
-A Buyer's Guide and Policy Summary - -must be delivered with or prior to
policy delivery
-The food and drug administration approves prescription drugs for treatment
as stated on the drugs labeling. The prescription of a drug for treatments
other than what's labeled is known as _____ use - -off-label
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursephil2023. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83750 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now