LAH Exam

$10,000

What is the civil penalty for violating a cease and desist order of the commissioner

Variable

an insured receives a monthly summary for his life insurance policy, he notices the value of the policy is significantly lower this month than it was last month what type of policy does he have.

Health care accounts and dependent care accounts

What are two types of flexible spending accounts

rates by class

insurers may change which of the following on a guaranteed renewable health insurance policy

Commingling

producer who fails to separate premium monies from his own personal funds is guilty of

The coverage period

Adjustable life policyowner can change which if the following policy features.

Dividends from a mutual insurer

All the following could be considered rebates if offered to an insured in the sale of insurance EXCEPT

MEWAs are groups of at least 3 people

All the following statements describe a MEWA EXCEPT

Yes, but not unfairly

Are insurance company underwriters allowed to discriminate

6 months

How long is an insurance company allowed to defer policy loans request

100

How many days of skilled nursing facility care will Medicare pay benefits.

Department of Insurance

If an insurer appoints a producer, which authority must be notified.

Certificate of Authority

In order for a foreign insurer to do business in this state it must apply for and obtain

$900 (deductible+ 20% of the bill after the deductible 20% of $2000

L has a major medical policy with 500 deductible and 80/20 coinsurance. L is hospitalized and sustains 2,500 loss, maximum amount L will have to pay

Alzheimer's disease

Long term care policies must cover:

48 hours

Maternity converge for vaginal delivery for inpatient care

Cancellation

The act of voluntarily giving up insurance by the insured is called

One year term option

The dividend option in which the policyowner uses dividends to purchase a term policy for one year is referred as the

payor Benifit

Which of the following allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or became disabled

Sixe of each istallment

Which of the following determines the length of time that benefits will be received under the fixed amount settlement option.

It is solely a federally administrated program.

Which of the following if INCORRECT concerning Medicaid

To provide immediate coverage to new employees who had been previously covered for 18 months

Which of the following is NOT the purpose of HIPAA

Misappropriation of funds

Which of the following is used when a person in a fiduciary position has used assets in manner for which they were not intended such as the wrongful taking or use of money belonging to another.

Universal Life

Which of the following life insurance policies would be considered interest-sensitive

Variable Annuity

Which of the following products requires a securities license

Option B

Which of the options for universal life allows the beneficiary to collect both the death benefit and cash value upon death of insured.

Universal Life

Which type of life insurance policy allows the policyowner to pay more or less than the planned premium.

benefits are taxable to the employer

all the following are TRUE regarding key employee disability income insurance EXCEPT

Rebates are allowed if in the best interest of the client

all the following are true regarding rebates except

10,000 no tax consequences

an employee quits her job where she has a balance of 10,000 in her qualified plan, and decides to direct transfer to a traditional IRA what will be transferred and tax consequences?

A flat Amount

the benefits for individual disability plans are based on

Disability Buy-Sell

type of insurance that provided funds for the business organization to purchase the business interest of the disabled partner

metal Level classification

under the affordable care act which classification applies to health plans based on the amount of covered cost.

must be informed of the source of the report

under the fair credit reporting act, individuals rejected for insurance due to information contained in the consumer report

Insurance and cash account

what is two components of a universal policy

Reduced-paid up

which nonforfeiture option provides coverage for the longest period of time

It will pay double or triple the face amount

which of the following is true concerning the accidental death rider.

Dividends are not taxable

which of the following is true regarding taxation of dividends in participating policies

The mode of the premium payments

which of the following will vary the length of the grace period in health insurance policies

Calls based outside the united States

which of the following would NOt be considered an exception to the national do not call registry

Viatical settlement Broker

who negotiates viatical settlement contracts on behalf of the viator

the commissioner seta all insurance premium rates in Pennsylvania

with regards to premium rates, which of the following is not TRUE

it is a nonprofit organization that maintains underwriting information on applicants for life and health insurance

best describes the MIB

False Advertising

circulating deceptive sales material to the public is what type of unfair trade practice

The insureds premiums will be waived until she is 21

father owns life insurance policy on his 15 year old. policy contains the optional payor benefit rider. if the father becomes disabled. what will happen to the life insurance premiums.

A third degree Misdemeanor and a $100 fine

just caught acting as an exclusive general agent even though he is not properly licensed assuming that this occurred in a single day , what is the maximum penalty he faces.

20

once a viatical settlement contract has been completed how long does the viatical settlement provider have to notify the insurance company that the life policy has been viaticated

Other insured Rider

rider attached to a life insurance policy that provides coverage on the insureds family members is called.

Business overhead expense policy

small hardware owner is involved in a car accident that renders his totally disabled for half a year, which type of insurance would help him pay for expenses of the company during the time of his disability

6 credits

the minimum number of credits required for partially insured status for social security disability benefits