XCEL Chapter 11 - Washington Laws
And Rules (New) Questions And
Answers With Verified Solutions Already
Passed!!!
When is an existing health insurance policy required to provide coverage for a
newborn child? - ANSWER✔✔Immediately
When must a claim on a life insurance policy be paid after proof of loss has been
received by the insurer? - ANSWER✔✔Promptly
Who is required to notify the producer in the event of appointment termination? -
ANSWER✔✔Insurer
A domestic insurance company in Maryland MUST - ANSWER✔✔be formed
under Maryland insurance laws
which of the following is an example fraud? - ANSWER✔✔A producer who
knowingly submits a false statement in support of a claim
A Long-Term Care policy may only exclude pre-existing conditions for up to ___
months. - ANSWER✔✔6
who is eligible for insurance under a group policy issued to a labor union? -
ANSWER✔✔Every member of that union
Which license is REQUIRED in order to solicit Long Term Care insurance in the
State of Maryland? - ANSWER✔✔Health Insurance Producer License
,A producer MUST maintain insurance transaction records for a minimum of ___
years. - ANSWER✔✔5
a producer's license must be renewed every ___ year(s). - ANSWER✔✔2
An example of rebating is - ANSWER✔✔a producer who shares commissions
with a client
ABC Insurance Agency is entering each applicant who purchases insurance
through their agency into a drawing to win a free trip. This is an unlawful
insurance practice known as - ANSWER✔✔illegal inducement
Which of the following actions by a producer would NOT result in a license
suspension or revocation? - ANSWER✔✔Producing an inadequate amount of new
premium
A dependent child may remain on a parent's health insurance plan beyond age 26 if
the child - ANSWER✔✔has a mental or physical handicap and remains dependent
on the parent
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: - ANSWER✔✔accelerated benefits
Producer commissions may NOT be paid to - ANSWER✔✔licensed producers not
appointed by an insurer
, A(n) _______ insurance company is one that was formed under the laws of another
country outside of the U.S. - ANSWER✔✔alien
When a producer is replacing an existing ordinary life insurance policy, the
producer must take all of the following actions EXCEPT - ANSWER✔✔obtain the
beneficiary's signature
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? -
ANSWER✔✔60
Prior to conducting an HIV-related test, the insurer must obtain a(n) -
ANSWER✔✔written authorization from the proposed insured
A minor may receive a life insurance policy's death benefit ONLY -
ANSWER✔✔if the minor has an appointed guardian
The Fair Credit Reporting Act protects consumers - ANSWER✔✔with guidelines
regarding credit reporting and distribution
A life policy loan in Maryland cannot charge a fixed rate of interest higher than -
ANSWER✔✔8%
How many days notice must the Commissioner give prior to a hearing? -
ANSWER✔✔10 days
A Buyer's Guide MUST - ANSWER✔✔have it's content approved by the
commissioner
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