Laws and rules
A producers failure to provide title and true nature of a policy upon solicitation is and example of
Misrepresentation
Starting in 2016, businesses with up to ___ employees will be defined by the ACA as a "small business".
100
A group health certificate for coverage issued in Connecticut MUST contain a
Summary of policy features and benefits
A life insurance policy may ONLY be contested by insurer during during the first ______ years of the contract.
Two
A licensee whose name or address changes must notify the Commissioner within
30 days
How many days notice must a producer be given prior to a scheduled hearing?
30 days
Which of the following individuals is eligible to receive a temporary producer license?
A designated employee who is replacing a deceased producer
John had a criminal record in which he was convicted of a felony that involves dishonestly. Under Federal Law, how would John be able to engage in insurance transactions?
Given written consent by the state insurance regulatory agency
Which of the following is considered to be a prosthodontics dental procedure?
Bridge work
All of these are used to prevent adverse selection in a group dental plan except
Decreased participation
Any administrative action taken against a producer MUST be reported to the commissioner within ____ days.
30
How many days notice does the Affordable Care Act require insurers to give before rescinding coverage?
30
The free look period provided in a life insurance policy is usually
10 days
In Connecticut, a producer cannot use his/her license for primarily writing controlled business. In order to confirm to this requirement, annual premiums collected on controlled business cannot exceed ________ of total premiums.
10%
Within __________ months of passing the Connecticut producer licensing exam, an individual must apply for and be issued a license or be required to retake the exam m.
12
According to federal fraud and false statements regulation, what is required for a prohibited person to transact insurance business in this state?
Written consent from the state insurance regulatory agency
Most prepaid dental plans cover
oral exams
In Connecticut, a temporary license may be issued for a period not to exceed _____ days.
180
Before soliciting insurance applications for an insurer, a producer must secure a
Appointment
An annuity contract may be returned for a full refund during the
Free look period
An insurer may NOT refuse the renewal of a small employer health insurance plan because of
Overuse of medical insurance
Twisting is
A form of misrepresentation in which an agent persuades an insured/owner to cancel, lapse, or switch policies, even when it's to the insured's disadvantage.
The commissioner is empowered to perform each of the following acts EXCEPT
Make rules that are consistent with those of neighboring state
Which of the following is an example of defamation?
Making a statement that is false or maliciously critical of the financial condition of an insurer
According to the Federal Fraud and False Statements Act, which of these is considered to be an intentional violation?
Making false entries in a company's books
According to the Affordable Care Act (ACA), the proportion of premium revenues spent on clinical services and quality improvement ls is called the
Medical loss ratio
In Connecticut, the Human Immunodeficiency Virus (HIV) consent form
Must disclose who will be receiving a copy of the test results
Which of these is NOT an Unfair Claim Settlement Practice?
Offering to settle a claim by arbitration
At what point must a producer give notification to the commissioner about using an assumed name?
Prior to using the assumed name
Long-term care policies sold in Connecticut may NOT exclude coverage for
Senile dementia
What is a life insurance producer authorized to do?
Solicit, receive and forward application to the insurer
The _________________ is responsible for reporting to the commissioner any name or address change of the licensee.
Licensee
Someone who is licensed to negotiate a life settlement contract is called
Life settlement broker
All of these are common limiting factors with dental insurance EXCEPT for
Limit placed on number of teeth that may be treated annually
How can a group dental insurer discourage adverse selection?
Limit the duration of coverage
Which of the following must clearly be illustrated in all sales material for market value adjusted annuities?
The market value adjustment can be either upward or downward
An example of endodontic treatment is a
Root canal
To secure authority for soliciting insurance products in the state of Connecticut, an insurance company must secure a certificate of authority from
The Connecticut insurance commissioner
What is the best way to define life insurance replacement?
A transaction in which a new life insurance policy is purchased and an existing life insurance policy is surrendered
Prepaid dental plans differ from most other types of dental plans in what way?
Closed panel of dentists can only be used
In Connecticut, continuing education courses must be approved by the
Commissioner
Which of these is NOT a punishment for committing an unfair or prohibited insurance practice?
Community service
When evaluating an insurers financial status, the commissioner may consider each of the following EXCEPT
Comparing an insurers agency agreements to determine maximum-paid commissions
Life settlement brokers are NOT allowed to
Complete transactions prior to being approved for a license
A producer MUST notify the commissioner for
Conducting business under and assumed name
A ___________ is a licensee who charges a fee for contracted insurance advisory services.
Consultant
A(n) ____________ is a licensee who charges a fee for contracted insurance advisory services.
Consultant
Which of the following does not involve a life settlement transaction?
Converting term life coverage to whole life insurance
Life settlement proceeds may be subject to the claims of
Creditors
Which of the following would prevent a person from obtaining a Connecticut resident producer license?
Residing in a state outside of Connecticut
Security laws passed by Congress are enforced by which Federal agency?
Security and Exchange Commission
A temporary license may be issued to which of the following?
Employee of a disabled producer
Which of the following is NOT a duty of the commissioner?
Enact legislation dealing with insurance
An individual who intentionally violates a Connecticut insurance law may be subject to a MAXIMUM fine of
$5,000
After conducting a hearing, the commissioner is empowered to issue a cease or desist order. A violation of such an order is punishable by a monetary fine not to exceed
$50,000
The maximum prison sentence given under federal law for unfair and deceptive insurance practices is
15 years
After a life insurance policy has been in force for _______ years, it becomes incontestable.
2
A life insurance policy that is paid annually must contain a grace period of at least _____ days.
30
Any administrative action taken against a producer MUST be reported to the commissioner within _________ days after the final disposition.
30
Producers licensed In Connecticut must notify the insurance department within _______ days of any change of name or address.
30
What is the actuarial value of a bronze level health plan?
60
Which of the following is an example of defamation?
A producer who publicly and erroneously announced that an insurance company is insolvent
According to the Affordable Care Act (ACA), dependents children may remain on their parents plan until what age?
Age 26
A television advertisement features a health insurance product that is endorsed by a specific group. In this advertisement,
Any control by the insurer over this group must be disclosed
The Affordable Care Act (ACA) established "exchanges" in order to
Assist individuals and small businesses when making the fir health insurance purchases
Which of the following is NOT responsible of an insurer?
Assuming liability for a producers unauthorized acts
When does a family health policy's coverage for a newborn child begin?
At the moment of birth
Any agreement that unreasonably restrains the business of insurance is a violation of which unfair or prohibited insurance practice?
Boycott, coercion and intimidation
A life settlement ______________ negotiates a life settlement between a policy owner and a life settlement provider.
Broker
In regards to the Affordable Care Act (ACA), which of these is NOT a role of a health insurance exchange?
Contact the employer if an employee stops coverage under a plan offered in the exchange
According to the Affordable Care Act, new Heath insurance marketplaces are established by the
CCIIO
A group health plan covers employees in Connecticut, Massachusetts, and Rhode Island. The state regulatory jurisdiction established for this plan does not affect which plan aspect?
COBRA continuation of coverage
A producer recently replaced an existing Medicare supplement policy with a new policy. The producers compensation for the new policy
Cannot exceed the renewal commission of the original policy
A prospective client was intimidated by a producer to purchase an insurance contract. The producer could be found guilty of
Coercion
Which of the following is considered to be an example of unfair restraint of competition?
Coercion
Which term refers to insurance written on the interest of the licensee, the licensee's employer, or the licensees immediate family?
Controlled business
Health providers are compensated by a preferred provider organization (PPO) for normal dental procedures by what means?
Decreased fee schedules
Which of the following is NOT classified as an "employee" under a group employer insurance plan?
Independent comtractory
Which of the following is NOT classified as an "employee" under a group employer insurance plan?
Independent contractor
In Connecticut, false advertising is an example of
Misrepresentation
Which of the following is a requirement for an individual to receive an insurance license in Connecticut?
Passing the appropriate examination
Which of these is NOT a standard provision in qualified long-term care policies sold in Connecticut?
Prior hospitalization
A life insurance producer is required to give a disclosure notice about information practices to an applicant or proposed insured
Prior to or at the time of signing the application
Under Federal Law, which of the following actions may result in a producer becoming imprisoned?
Producer embezzling finds from and insurer
A producer has indicated to a potential client that the proposed life insurance is covered by the Connecticut life and health insurance guaranty association. This action taken by the producer is
Prohibited by law
A life insurance policy owner sells her policy to a third party in a life settlement. Under this transaction, the policy owner
Receives an amount less the. The policy's death benefit
Which of the following facilitated nonresident licensing in the state of Connecticut?
Reciprocity agreement
Which of these is NOT an unfair claim settlement practice?
Refusing to pay persons bringing false or fraudulent claims
Which of the following is NOT a valid cause for termination of an employees group health coverage?
The coinsurance limits had been exceeded
If one producer provides a referral to another producer which results in the sale of an insurance contract, who will likely be paid a commission?
The commission will likely be shared between the two producers
An individual in Connecticut who charges a fee for giving advice on an insurance insurance policy must be licensed as a consultant if the advice is given to
The policy holder
Why were Exchanges implemented by the Affordable Care Act (ACA)?
To create a one-stop market for standardized health insurance plans
Why does Connecticut require insurers to maintain a minimum level of assets?
To demonstrate insurer solvency
Which of these is NOT considered a federal punishment for unfair and deceptive insurance practices?
community service
Jerry has an indemnity plan which covers dental expenses. Typically, these type of plans
cover preventative care once every six months
Which of these is typically regarded as a major treatment in an indemnity dental plan?
dentures
Which of these is NOT considered a preventative service in a dental plan?
fillings
A producer sold a life insurance policy but did NOT provide the applicant with a basic illustration. In this situation, the insurer is required to provide the applicant with a policy summary no later than the
lol I delivery date
Beginning January 1, 2014, the restricted annual limit for plans under the affordable care act will be
no limit
All of these are considered to be a violation of the Federal Fraud and False Statements Act EXCEPT
Claims reimbursement
Life insurance policies cannot be backdated more then ______ months from the date of issue.
6
A(n) _______ insurer operates in the U.S. but is headquartered outside the U.S.
Alien
A(n) _____________ insurer operates in the U.S but is headquartered outside the U.S.
Alien
An insured has been ordered by the court to provide a child's health insurance. Upon this order, the insurer must allow the enrollment of this child
At any time
A consultant derives their income from which source?
Clients
Medical cost in birthing centers are lowered by using
Certified nurse midwives
An order issued by the commissioner that prohibits a specific practice listed in order is called a
Cease and desist order
Which of the following actions may result in a producers license being suspended by the commissioner?
Debating part of a commission to an applicant
Insurance producer Kelly offers insured a $500 shipping card if they purchase an insurance product through her. What is this and example of?
Debating, which is an unfair trade practice
If a life insurance applicant is shown future premiums are to be paid out of non-guaranteed values, the illustration used in the sales presentation must
Disclose that premium payments may need to be resumed depending on actual results
Group life plans sold in Connecticut typically contains a conversion option. If the insurers elects this option, the new policy
Does NOT require evidence of insurability
A(n) _______________ insurer is incorporated and formed in Connecticut.
Domestic
An example of an unfair claim settlement practice is
Failing to promptly investigate and settle legitimate claims
Which of the following is considered to be a prohibited insurance practice?
Failing to submit premiums to the insurer
A producer is meeting with a client to determine whether an annuity will be suitable for purchase. Which of the following topics needs to be discussed with the client?
Financial status of the client
A(n) ___________ insurer writes business in a state other than the one in which it is domiciled.
Foreign
A(n) _____________ insurer writes business in a state other than the one in which it is domiciled.
Foreign
According to the Affordable care act, insurers can no longer deny health coverage due to pre-existing conditions unless that plan is a
Grandfathered plan
A producers license may only be suspended or revoked if the producer
Has been afforded a right to a hearing
A life insurance applicant is tested for the Human Immunodeficiency Virus (HIV). The applicant MUST be informed that the testing
Helps determine the insurability of the applicant
Which of the following situations would qualify an insured to receive funds from an accelerated (living) benefit rider?
Insured is expected to remain in a nursing home for life
Who is required to notify the producer in the event of appointment termination?
Insurer
Which of the following is not information needed to determine the suitability of an annuity recommendation?
Level of education
An insurance applicant has made a false statement on the application that will affect the insurers decision on weather or not to issue the policy. This false statement is considered to be a
Material misrepresentation
Which of the following is considered to be and unfair claim settlement practice?
Misrepresentation pertinent policy provisions relating to cordage after a lose
Which of the following BEST defines the illegal act of twisting?
Misrepresenting a policy for the purpose of inducing a policyholder to change or replace and existing policy
Which of the following is not a valid reason for an insurer to contest a life insurance policy during the policy's first two years of existence?
Misstatement of age
All of the following are covered under most dental plans EXCEPT for
Mouth cancer
If the commissioner requests access to a producers business records, the producer
Must provide access to the records upon request
James the producer has sold a life insurance contract to a client without using an illustration, even though his insurer offers one. For this particular transaction l, the applicant
Must sign a statement that no illustration was provided
What must be disclosed when a producer advertises a life insurance policy?
Name of the actual insurer
During the sale of a life insurance policy, a producer may provide an incomplete illustration
Never
How would preventative care be encouraged in a dental plan?
No deductible on routine examinations
What is considered interstate travel under the federal fraud and false statements act?
Puerto Rico
In regards to technology and the ACA, which of the following statements is correct?
States which operate with an exchange must offer and internet-based portal
An insureds statement of a policy's benefits which is to be used in marketing materials is called a
Testimony
Which of the following is the BEST candidate for a temporary insurance license?
The executor of the estate of a deceased licensed producer
What is the primary reason for the commissioner's examination of a producer's insurance records?
To determine compliance with state insurance laws and regulations
All of the following are typically covered under dental insurance EXCEPT
Treatment which began before the eligibility date
Insurance crimes which affect interstate commerce are prosecuted by the
US Attorney General
Charging different premiums to policyholders in the same risk classification is referred to as
Unfair discrimination
When an individual buys insurance under a threat made by a producer, a violation has occurred under the
Unfair trade practice act
Mentally or physically handicapped dependent children MUST be covered under an individual health insurance policy
Until they become self-supporting
Misrepresentation on the application is
material
