A nonparticipating - Study guides, Class notes & Summaries

Karen is a producer who has obtained personal information about a client without having a legitimate reason to do so. Under the McCarran-Ferguson Act, what is the minimum penalty for this? $10,000 or up to one year in jail A type of insurer that is owned by its policyowners is called Mutual insurer What is considered to be the primary reason for buying life insurance? Provide death benefits Fraternal Benefit Society has each of the following characteristics EXCEPT Exist for profit (FBS is a n...

Why are dividends from a mutual insurer not subject to taxation? because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called reinsurance A nonparticipating company is sometimes called a(n) stock insurer What is considered to be the primary reason for buying life insurance? provide death benefits A(n) _____ company is owned by its shareholders stock A plan in which an employer pays insurance ...

1 OHIO LIFE AND HEALTH EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ Confidentiality of health information (as stated by Ohio HIC laws) applies to information supplied by - -Both by the covered individual and by providers An agent has committed an insurance crime that violates US CODE 1033 (interstate commerce). Who would be responsible for the prosecution of this crime - -US attorney general A nonparticipating policy will - -not pay dividend What is the elimination period of an individu...

To determine financial strength of an insurance company - Primary purpose for a rating service company such as A.M best? Provide death benefits - Primary reason for buying life insurance? Liquidity - What is described as an insurers ability to make unpredictable payouts to its policy owners? Self-Funded Plan - What is described as a plan in which an employer pays insurance benefits from a fund derived from the employers current revenue? Nonparticipating policy -Which policy will not pay d...

What are commercial insurers also referred to as? - correct answer Private Insurance Companies Commercial Insurers are in the business of selling insurance for ___ ________. - correct answer a profit What two groups can commercial insurance be broken into? - correct answer Stock Companies & Mutual Insurers What is a stock insurer? - correct answer incorporated to make a profit for its stockholders. nonparticipating because the policyholders do not receive dividends unless they are stock...

AAPC CPB Practice Exam/ 459 Q&A/ A+ Score Solution/ . When a nonparticipating provider files a claim for a patient to BC/BS, how is the payment processed? A. The payment is sent to the patient and the patient must pay the provider. B. The payment is sent to the provider if the provider agrees to accept assignment. C. The payment is sent to the provider regardless if he accepts assignment. D. The claim is not paid because the provider is not participating in the plan. - Answer: A. Th...

NJ Health Insurance Exam (XCEL Solutions) Questions and Answers Graded A+ Why are dividends from a mutual insurer not subject to taxation? - Correct Answer ️️ - because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called - Correct Answer ️️ -reinsurance A nonparticipating company is sometimes called a(n) - Correct Answer ️️ -stock insurer What is considered to be the primary r...

Rhode Island Insurance Exam Questions and Answers Already Passed the role of insurance is to transfer the risk of financial loss from an individual or business to an insurance company organized and incorporated under state law owned by stockholders who get a paid share of the company's profit through dividends. also referred to as a nonparticipating or non-par bc policy holder do not participate in paid dividends stock insurance company organized and incorporated under state law....

South Carolina Life & Health Final Exam Practice with Verified Solutions Bill requires some nursing care and supervision but NOT full-time care. Which of these nursing home options would best serve him? Assisted Living Ron has a life insurance policy with a face value of $100,000 and a cost of living rider. If the consumer price index has gone up 4%, how much may Ron increase the face value of the policy? $4,000 ($100,000 x.04) All of the following are functions of an insuring cla...

NJ Health Insurance Exam (XCEL Solutions) Questions and Answers Graded A+ Why are dividends from a mutual insurer not subject to taxation? - Correct Answer ️️ - because dividends are considered to be a return of premium ABC insurance company transfers part of their risk to XYZ insurance company. This situation is called - Correct Answer ️️ -reinsurance A nonparticipating company is sometimes called a(n) - Correct Answer ️️ -stock insurer What is considered to be the primary r...