Chapter 11 - Laws and Rules Questions and Answers 100% Pass

Chapter 11 - Laws and Rules Questions and Answers 100% Pass the identity of the ____ must be made clear in every health insurance advertisement Governor insured insurer commissioner insurer Which of the following is NOT a requirement for soliciting insurance in Maryland? 1.Pass insurance examination 2.At least 21 years old 3. Good character 4.Appointed by an insurer At least 21 years old, age requirement is 18 The Commissioner must examine the financial affairs of each admitted insurer operating in Maryland at least once every how many years? 5 john the insurance producer has an insurance license that expires in 6 months. if he files an application for renewal before the expiration date, his license will remain in effect until a new one is issued 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) 1. appointment 2. license 3. binder 4. designation appointment At minimum, a carrier is required to offer which of the following health benefit plans to small employers? The standard plan A producer may begin to solicit insurance ONLY when tered for the state insurance examination 2. licensed by the state 3. appointed by an insurer 4. none of these appointed by an insurer A Maryland insurance producer solicits an insurance policy. In the event of a controversy between the insured and the company, the producer is considered to represent the 1. insured 2. beneficiary 3. company 4. policyholder company A producer who is licensed in Maryland but resident in another state is called a 1. nonresident producer 2. foreign producer 3. reciprocal producer 4. limited lines producer nonresident producer under the affordable care act which of these plans are designed to provide coverage that is actuarially equivalent to 80% of the full actuarual value of the benefits provided under the plan? Gold platinum silver bronze Gold An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of Misrepresentation - also known as oral statements an existing health benefit plan offered by a small employer may be replaced by SHOP exchange navigator only if the small employer is eligible for a federal tax credit through the SHOP exchange Which of the following is NOT a reason for the Commissioner to deny or refuse a producer license application? 1.Recently convicted of a felony 2.Engaged in fraudulent insurance practices 3.Unintentionally misrepresented a material fact on the application 4.Intentionally violated state insurance laws Unintentionally misrepresented a material fact on the application Any advertisement that mentions a dollar amount, period of time for which any benefit is payable, cost of policy, policy benefit, or the loss for which the benefit is payable MUST disclose date in which the advertisement was approved 2. the exceptions, reductions, and limitations affecting the basic provisions of the policy 3. how much the advertisement cost to publish 4. the person who wrote the advertisement the exceptions, reductions, and limitations affecting the basic provisions of the policy Which of the following is NOT a qualification to be licensed as a producer or adjuster? A high school diploma a foreign insurance company is defined as one that is formed under the laws of a state other than Maryland an employer may qualify for health care tax credit through shop marketplace if that employer has fewar than hoe many employees? 25 Which of the following is not considered to be an act of fraud collecting a charge for insurance that is less than the charge applicable to that insurance Which of the following basics is a producer's fiduciary responsibility? Collecting premiums and paying them to the insurance company all of the following may be an unfair claims practice except Refusing to pay persons bringing false or fraudulent claims Failing