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Rhode Island Pre-Licensing Life & Health Insurance Latest Exam 2024 with complete solutions
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Rhode Island Pre-Licensing Life & Health Insurance Latest Exam 2024 with complete solutions
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Rhode Island Pre -Licensing Life & Health Insurance Latest Exam 2024 with complete solutions In the event that an insured's premium is not paid by the due date, the result will be... - ✔✔Coverage will continue for not more than a maximum of 31 days, beyond which time the policy will lapse A Medicare Supplement policy may be cancelled for which o f the following reasons? - ✔✔The insured fails to pay the premium Which type of insurance company allows their policy owners to elect a governing body? - ✔✔Mutual When the Insurance Commissioner deems the public interest would best be served by the issuance of a temporary license the commissioner may issue the license for a period - ✔✔Not to exceed a max of 180 days without requiring an examination In a life insurance transaction when must the producer disclose the name of the insurer? - ✔✔Prior to the sales presentation A life insurance policy owner may sell their policy to a(n) ___________ in order to receive a percentage of the policy's face value - ✔✔Viatical Settlement Provider Variable life products require a producer to - ✔✔Hold a Life insurance license and securities license In the course of making a sales presentation, a producer may not say ... - ✔✔The Rhode Island Guaranty Association will protect you The director of Business Regulation CANNOT take which of the following actions? - ✔✔Activate an insurer's financial reserves Life and Health Producers, who hold Property Casualty authority , are required to complete timely continuing education credits i n order to renew their license. Which of the following requirements must be satisfied? - ✔✔Total of 24 credit hours in Life and Health or Property Casualty. 3 of which must be in ethics The Director of Business Regulation may revoke a producer's licen se upon the finding of... - ✔✔Sharing of commissions The Dept. of Business Regulations may revoke a producer's license for each of the following offenses EXCEPT: - ✔✔Violating an insurer's internal control requirements Advertisement for Accident and Health insurance can be considered all of the following EXCEPT - ✔✔Company's financial rating The waiting period for a pre -existing condition under a Medicare Supplement policy may NOT go beyond - ✔✔6 months If an application for producer license is denied, the applicant may make a written request for a hearing to appeal this decision within - ✔✔30 days In Rhode Island, replacement forms are required to be obtained for the replacement of which of the follow ing - ✔✔Annual Renewable Term (ART) Insurance According to the Affordable Care Act a dependent child's eligibility status is determined by - ✔✔Age (up until 26) Defamation may be described as which of the following - ✔✔Brochures the malign the financ ial standing of the admitted insurer Under Rhode Island law, a producer may NOT state which of the following - ✔✔Mutual insurers pay dividends just as though you held stock in the company Which of the following statements is a producer not permitted to say - ✔✔"If my company fails to pay a claim, the Guarantee Association will pay" In order to renew a producer's license in Rhode Island, continuing education credits are required for each of the following EXCEPT: - ✔✔Residents holding a license for 25 consecutive years and are under the age of 55 at time of renewal An unemployed Medicare enrollee suffers 3 hospital admissions in the course of a year. Which of the following health plans provides the BEST method of coverage for excess hospital charges? - ✔✔Medicare Supplement Advising a proposed insured that the req uired premium is lower than it actually would be, given the current rate classification is an example of - ✔✔Misrepresentation In RI all Accident and Health insurance plans are required to provide coverage for the services of properly licensed midwives in accordance with each of the following requirements EXCEPT: - ✔✔At home birthing services are covered The Director must give how many days notice prior to holding a hearing regarding a producer's unfair or deceptive practice? - ✔✔10 days Which of t he following does the RI Life and Health Insurance Guaranty Association Act apply to? - ✔✔Annuity Contracts In RI the min. rate increase and/or decrease that an insurer may adjust for policy loan interest rates per annum is - ✔✔.50% In state of RI co mmissions may be paid to a non licensed individual if - ✔✔The commissions were earned on a renewal premium and the individual held the proper license at the time of the original sale A producer making an unfair comparison of two insurance policies is considered to be engaging in - ✔✔Misrepresentation RI requires that an insurance producer must complete _______ hours of continuing education on the subject of ethics every 2 years - ✔✔3 hours Essential Benefits without annual and lifetime limits are required on any health policy purchased - ✔✔Through the Federal MarketplaceThe benefits of buying summaries with Stuvia:
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