XCEL Chapter 11 - Laws and Rules Final Exam.

XCEL Chapter 11 - Laws and Rules Final Exam. 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 care services in a setting order than an acute care unit of a hospital? - CORRECT ANSWER long-term care Twisting is - CORRECT ANSWER 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 - CORRECT ANSWER providing referrals An insurance producer is BEST defined as - CORRECT ANSWER 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 - CORRECT ANSWER 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? - CORRECT ANSWER Adoption of a child Who is required to notify the producer in the event of appointment termination? - CORRECT ANSWER Insurer All of these may be an unfair claims practice EXCEPT - CORRECT ANSWER Refusing to pay persons bringing false or fraudulent claims An example of misrepresentation is - CORRECT ANSWER 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 - CORRECT ANSWER Names of the beneficiaries Which license is REQUIRED in order to solicit Long Term Care insurance in the State of Maryland? - CORRECT ANSWER Health Insurance Producer License At minimum, a carrier is required to offer which of the following health benefit plans to small employers? - CORRECT ANSWER The standard plan A producer's renewal date for his/her resident insurance license is on or before - CORRECT ANSWER the last day of the licensee's birth month A domestic insurance company in Maryland MUST - CORRECT ANSWER be formed under Maryland insurance laws Which of the following is required for an insurer to conduct business in this state? - CORRECT ANSWER 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. - CORRECT ANSWER 60 days enrollment period a producer's license must be renewed every ____ year(s). - CORRECT ANSWER 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? - CORRECT ANSWER Fraud