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XCEL Chapter 11 - Laws and Rules questions and answers
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XCEL Chapter 11 - Laws and Rules questions and answers
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XCELChapter
11
-
Laws
and
Rules
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)
-
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?
-
ANSWER-long-term
care
Twisting
is
-
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
-
ANSWER-providing
referrals
An
insurance
producer
is
BEST
defined
as
-
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
-
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?
-
ANSWER-Adoption
of
a
child
Who
is
required
to
notify
the
producer
in
the
event
of
appointment
termination?
-
ANSWER-Insurer
All
of
these
may
be
an
unfair
claims
practice
EXCEPT
-
ANSWER-Refusing
to
pay
persons
bringing
false
or
fraudulent
claims An
example
of
misrepresentation
is
-
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
-
ANSWER-Names
of
the
beneficiaries
Which
license
is
REQUIRED
in
order
to
solicit
Long
Term
Care
insurance
in
the
State
of
Maryland?
-
ANSWER-Health
Insurance
Producer
License
At
minimum,
a
carrier
is
required
to
offer
which
of
the
following
health
benefit
plans
to
small
employers?
-
ANSWER-The
standard
plan
A
producer's
renewal
date
for
his/her
resident
insurance
license
is
on
or
before
-
ANSWER-the
last
day
of
the
licensee's
birth
month
A
domestic
insurance
company
in
Maryland
MUST
-
ANSWER-be
formed
under
Maryland
insurance
laws
Which
of
the
following
is
required
for
an
insurer
to
conduct
business
in
this
state?
-
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.
-
ANSWER-60
days
enrollment
period
a
producer's
license
must
be
renewed
every
____
year(s).
-
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?
-
ANSWER-Fraud
Kiara
filled
out
a
life
insurance
application
and
was
given
a
policy
illustration
that
showed
future
premiums
being
paid
out
of
nonguaranteed
values.
This
illustration
MUST
disclose
that
-
ANSWER-she
may
need
to
resume
premium
payments
depending
on
actual
results
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