Xcel chapter 11 - Study guides, Class notes & Summaries

XCEL Chapter 11 - Laws and Rules (new) fully solved & verified for accuracy 2025

XCEL CHAPTER 11 - LAWS AND RULES EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ 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) Correct Answer: appointment what kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal ca...

XCEL Chapter 11 - Laws and Rules questions and answers

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 exa...

In order to negotiate a viatical settlement, which license is required? Life producer How long is an appointment letter valid? Until appointment is terminated Under which statute gives the Insurance Commissioner power to regulate insurance transactions? Title 33 of Montana law John the producer splits the commission from a sale with another producer. This commission split must be paid from the office account Credit Life insurance must be sold as term life alien insu...

XCEL Chapter 11 - Laws and Rules Graded A+ ________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer. ️Appointment A Buyer's Guide and Policy Summary ️must be delivered with or prior to policy delivery A Buyer's Guide MUST ️have it's content approved by the commissioner A domestic insurance company in Maryland MUST ️be formed under Maryland insurance laws A licensee must notify the Commissioner of an address change within __...

XCEL Chapter 11 Montana laws and rules with 100- correct answers.

________ is the authority given to a producer to sell, solicit, or negotiate insurance on behalf of the insurer. - answer-Appointment A Buyer's Guide and Policy Summary - answer-must be delivered with or prior to policy delivery A Buyer's Guide MUST - answer-have it's content approved by the commissioner A domestic insurance company in Maryland MUST - answer-be formed under Maryland insurance laws A licensee must notify the Commissioner of an address change...

XCEL Chapter 11 Exam Questions with Correct Answers What does the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985 allow an employee to do? A. In the event of employment termination, group health insurance can be kept if the employee pays the premiums B. Receive a tax credit to help offset the cost of health insurance C. Remain on their current coverage for 30 months D. In the event of employment termination, group health insurance can be kept if the employer pays the premiu...

XCEL Chapter 11 Chapter Exam 1. Maria the insurance producer completes a sale by collecting the required signatures on the application and obtaining the initial premium. Afterwards, she deposited the check into a personal checking account. Maria committed what crime? ️ Fraud 2. Making a statement that is false and maliciously critical of the financial condition of the insurer is known as: ️ Defamation 3. Which of the following statements is true about an insurer's right ...