State Laws

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Under the Small Employer Health Insurance Availability Act in Kansas, the employer must have no more than _____ eligible employees to qualify. A 15 B 75 C 50 D 25

c

All of the following are true regarding penalties imposed by the Commissioner, except: A The Commissioner may impose a penalty of up to $1,000 per violation, not to exceed $10,000 in any 6-month period, if the person knew he/she was engaging in an unfair practice B The Commissioner may order refund of premiums or withheld money, with interest, to an injured party C The Commissioner may suspend, revoke or refuse to renew the person's license if the person knew he/she was engaging in an unfair practice D The Commissioner may double the amount of tax on premiums paid to a producer writing business for a company not authorized to transact business in Kansas

a

An agent replacing a life policy or annuity must give the applicant and the insurer all of the following, except: A Buyer's Guide B Copy of each sales proposal C Signed replacement notice D Outline of Coverage

a

An example of ___________ is charging a lower rate to one individual who lives in a certain geographic location in which others are charged the correct higher rate. A Unfair discrimination B Twisting C Boycott D Rebating

a

Blanket Insurance will cover all but one of the following: A Independent CPA B Sport's team C Volunteer fire department D Schools

a

The Commissioner may subject a person who has violated the Kansas Insurance Code to imprisonment up to _________ in the county jail. A 6 months B 12 months C 3 months D 36 months

a

giving the insured a rebate of premium, special favors in benefits, or other inducement not otherwise specified in the policy

rebating

In Kansas, the free-look period for Medicare Supplement and LTC policies is _____ days. A 30 B 10 C 25 D 20

a

A licensing candidate must be at least _____ years of age to be licensed. A 20 B 18 C 25 D 21

b

A producer licensed to transact insurance in Kansas is required to hold an appointment with how many insurers? A 5 B 1 C 2 D 3

b

The Commissioner may issue a temporary license for up to ____ days: A 60 B 90 C 365 D 180

d

In Kansas, all life insurance policies must contain a provision that in the event of death of the insured, settlement must be made upon receipt of which of the following? A Due proof of death B Signed statement by producer C Newspaper obituary D Hospital bill

a

In order to transact excess lines insurance, a property/casualty producer must have which of the following? A Appointment from the Commissioner B Excess lines license C Surplus lines license D Insurance company appointment

b

Which of the following are part of the legal responsibility of maintaining an insurance license? A A producer must inform the Commissioner of any change in address within 90 days B A producer must inform the Commissioner of any change in address within 30 days C A producer must inform the Commissioner of any change in address within 60 days D A producer must inform the Commissioner of any change in address within 10 days

b

Which of the following children would not be covered under the parent's individual or group health insurance policy? A Child place in enrollee's home by a child placement agency for the purpose of adoption from the date of placement if the date of the adoption petition is filed within 280 days B An adopted newborn child from the moment of birth if the adoption petition was filed within 15 days of the child's birth C Child adopted by the enrollee from the date the adoption petition was filed D Newborn child of the enrollee from the moment of birth

b

Which of the following statements is correct regarding required provisions for individual coverage? A The Time Limit on Certain Defenses, including nonpayment of premium, is 2 years after the policy has been in force B The Time Limit on Certain Defenses, except for nonpayment of premium, is 2 years after the policy has been in force C The free-look period is 15 days D The time frame for pursuit of legal action cannot exceed 3 years

b

A new life policy is being purchased, and the producer knows that an existing contract will be lapsed. This is an example of (policy): A Exchange B Surrender C Replacement D Termination

c

Which of the following is correct regarding a temporary license? A The duration of a temporary license may not exceed 80 days B A temporary license may not be renewed C A temporary license may be issued to the surviving spouse of a disabled or deceased producer D A temporary license may be issued for up to 180 days after successfully completing the licensing examination

c

Which of the following is false regarding the Life and Health Insurance Guaranty Association Act? A Every insurer transacting insurance in Kansas must be a member of the Association B The Association assumes all of the rights, duties and obligations of an insolvent insurer C The Association is under the immediate supervision of the NAIC D If a policy is not covered by the Association, such policy must be delivered with a disclosure to that effect

c

Which of the following is not a reason for which the Commissioner may conduct a hearing? A The Commissioner has reason to believe that a person is engaging in an unfair trade practice B A person fails to file a report with the Commissioner C A producer inadvertently submitted the incorrect application form to the insurer D A person fails to respond to an inquiry by the Commissioner

c

Which of the following statements is correct concerning long-term care insurance? A A determination of impairment cannot be more restrictive than the inability to perform 5 of the activities of daily living or the presence of cognitive impairment B LTC policies must be at least noncancellable C Insurers are required to offer inflation protection with every LTC policy that is purchased D Coverage for home health care or community services must be provided in a dollar amount equivalent to at least one year's coverage available for nursing home benefits

c

A replacing insurer is not required to do which of the following? A Keep copies of sales proposals for at least 3 years B Verify that a replacement is compliant with state regulations C Maintain copies of comparison statements D Notify each insurer whose insurance is being replaced within 10 working days

d

All of the following are true regarding life insurance advertising, except: A The name of the insurer must appear on all advertisements B Insurers must be responsible for and control all advertising content C Insurers must keep every advertisement on file for at least 4 years or until the filing of the next regular report on its examination of the insurer, whichever is longer D The penalty for violation of the advertising rules is a fine of up to $500 per violation

d

An example of ___________ is charging a lower rate to one individual who lives in a certain geographic location in which others are charged the correct higher rate. A Rebating B Twisting C Boycott D Unfair discrimination

d

A life and health producer must complete how many hours of continuing education every 2 years? A 12 B 15 C 30 D 8

a

All of the following are true regarding the Life and Health Insurance Guaranty Association, except: A An insurer may use the existence of the Association in advertisements to purchase insurance B It prevents financial loss to policyholders when an insurer becomes insolvent C Other member insurers are assessed to provide money for the claims of an insolvent insurer D The Association is not liable for more than $300,000 in the aggregate for any one life

a

Choose the statement that is true regarding the inflation protection coverage under LTC policies? A Insured can increase the benefit level without providing evidence of insurability B Increases in benefit levels are compounded annually at a rate not less than 8% C Does not include a maximum specified indemnity limit D The inflation protection coverage is required on all LTC policies

a

Claims paid by the Kansas Life and Health Guaranty Association comes from which of the following? A Assessments from member companies B State Guaranty Fund C Federal Guaranty Association Fund D Premiums collected from insureds

a

The producer must keep a copy of the life insurance replacement form for what period of time? A 3 years B 7 years C 2 years D 90 days

a

What is the maximum amount the Association will pay in health insurance benefits for an insolvent insurer: A $100,000 B $500,000 C $300,000 D $250,000

a

Which of the following is not exempt from replacement regulations: A Replacing a Whole Life policy with a Term policy for a spouse B Group life insurance policies C A term policy that is nonconvertible, nonrenewable with 5 years or less to expire D Credit life insurance administered by group-type methods

a

Which of the following is true about the Kansas Commissioner of Insurance? A Commissioner is elected by the voters in Kansas B The Governor of Kansas appoints the Commissioner of Insurance C The Commissioner is elected by the State Senate D The Federal Court holds a hearing and the Federal Judge determines who will be the Commissioner

a

Which of the following is true concerning the definition of a Foreign Company? A A foreign company is licensed to do business in Kansas and incorporated in another state B A foreign company is licensed and incorporated in another country outside of the U.S. C A foreign company is licensed in another state, but incorporated in Kansas D A foreign company is licensed and incorporated in another state

a

Which of the following statements is correct about group plan preexisting conditions? A The preexisting condition exclusion does not apply to pregnancy B A group policy may exclude benefits for any condition existing prior to the effective date C A preexisting condition exclusion may be imposed for 180 days following the date of enrollment D A preexisting condition exclusion may be imposed if the condition was treated in the 6 months prior to enrollment

a

Which of the following penalties can the Commissioner impose for committing an Unfair Method of Competition or an Unfair Trade Practice: A A fine not more than $200 per violation in any 6 month period B Imprisonment for up to 5 years in prison C A fine not to exceed an aggregate of $100,000 in any 6 month period D A cease and desist order

d

Individual life insurance policies are incontestable by the insurer after they have been in force for how many years? A 1 B 3.5 C 2 D 3

c

All of the following are true regarding a life policy and its reserves, except: A The policy proceeds are free from the claims of the policyholder's creditors B The policy proceeds are not free from taxes C The policy proceeds are free from the claims of the insured's creditors D The policy proceeds are free from the claims of the beneficiary's creditors

b

In Kansas, the Accelerated Benefit Provision becomes effective for accidents on which of the following dates? A Anniversary date B Effective date C 30 days after the effective date D 90 days after the effective date

b

All of the following are true regarding provisions for individual life policies, except: A The policy may be backdated up to 9 months to conserve age B The policy must have a grace period of at least 30 days C The policy must have a free-look period of 10 days D The policy must be incontestable after 2 years from the date of issue

a

Which of the following statements is true regarding pre-existing conditions under a group health policy? A A pre-existing condition exclusion may be imposed for up to 90 days after the date of enrollment for a medical condition that existed 6 months prior to the effective date of enrollment B A pre-existing condition exclusion may be imposed for up to 6 months after the date of enrollment for a medical condition that existed 12 months prior to the effective date of enrollment C A pre-existing condition exclusion may be imposed for up to 6 months after the date of enrollment for a medical condition that existed 6 months prior to the effective date of enrollment D A pre-existing condition exclusion may be imposed for up to 90 days after the date of enrollment for a medical condition that existed 90 days prior to the effective date of enrollment

d

All of the following are true regarding what is required for a Foreign Company to be authorized to transact business in Kansas, except: A The foreign company must have been in operation for at least 3 years B The foreign company requires immediate regulatory attention by the Department of Insurance C The foreign company must make the required deposit with the Kansas Insurance Department D The foreign company must demonstrate that the majority ownership interests of the company are financially sound

b

The Insurance Commissioner is: A Appointed by the President of the NAIC B Elected every 4 years through public nomination C Appointed by the Governor and confirmed by the State Senate D Appointed by the State Senate and confirmed by the Governor

b

What is the FIRST consequence when a Kansas producer fails to report completion of continuing education requirements by their biennial renewal date? A The producer's license expires B The producer's license is suspended for 90 days C The producer is summoned to a hearing before the Commissioner D The producer is served with a cease and desist order

b

Which of the following is false regarding CE requirements: A 12 hours for Property and/or Casualty, or Personal lines B Continuing Education courses are required every 4 years C 12 hours for Life and/or Health D 4 hours for Title

b

Which of the following is not a purpose of the statutes regarding the replacement of life insurance? A Reduces the opportunity for misrepresentation B Protects the beneficiaries from a loss of benefits C Regulates the activities of insurers and producers D Establishes penalties for violation of the statutes

b

Which of the following is not considered to be rebating: A Giving the insured tickets to the Super Bowl B Accepting the applicants premium for a policy C Offering special favor in dividends or other benefits D Offering any rebate of premium

b

Which of the following is not true regarding the powers of the Commissioner of Insurance: A Enforce insurance laws B Make insurance laws C Issue producer licenses D Issue Certificates of Authority to Insurers

b

Which of the following is the correct time limit for a terminated employee in Kansas to continue his group health insurance? A 12 months B 18 months C 1 month D 6 months

b

Which of the following statements is correct concerning provisions in group life insurance policies? A There must be a provision allowing anyone who has been covered under the group policy for at least one year to convert to an individual policy upon termination of the group policy B There must be a provision providing a payment of up to $250 to any person appearing to be equitably entitled in the absence of a designated beneficiary C There must be a provision that if an insured dies during the conversion period, no benefit is payable under the group policy D There is no conversion privilege available to the spouse of an insured when insurance is terminated for such spouse

b

Which of the following statements is correct with respect to a Certificate of Authority? A Once an insurer has applied for a Certificate of Authority, it may transact business in Kansas until and if the application is denied by the Commissioner B It is unlawful for an insurer to transact any business in Kansas without a Certificate of Authority C Insurers are not required to have a Certificate of Authority in order to transact business in Kansas D An insurer may transact business in Kansas for a maximum of 30 days before obtaining a Certificate of Authority

b

With regard to financial examinations, the Commissioner: A Must conduct a financial examination of an insurer at least once every 3 years B Must conduct a financial examination of an insurer at least once every 5 years C May, but is not required to examine insurance companies D Must conduct a financial examination of an insurer at least once every 10 years

b

All but one of the following apply to advertisements of life insurance: A The advertisement cannot imply coverage in all jurisdictions, unless it is a fact B They cannot be misleading C An insurer or producer who violates advertising regulations is subject to a fine of up to $5,000 for each violation D Advertisements must be truthful

c

All of the following are true regarding a life policy and its reserves, except: A The policy proceeds are free from the claims of the beneficiary's creditors B The policy proceeds are free from the claims of the policyholder's creditors C The policy proceeds are not free from taxes D The policy proceeds are free from the claims of the insured's creditors

c

Any paid-up benefit of an annuity must be at least the present value as of the surrender date if which of the following options exists? A A nonforfeiture option B A cash surrender option C A cash surrender nonforfeiture option D Anytime

c

If a producer offers any special favor in dividends or other benefits to an insured, the producer is guilty of which of the following marketing practices? A Twisting B Intimidation C Rebating D Defamation

c

In Kansas, which of the following is exempt from licensing requirements? A Title producer B Life producer C Travel producer D Pre-need producer

c

The Kansas Life and Health Guaranty Association does not apply to which of the following? A Life insurance B Annuity insurance C Excess insurance D Health insurance

c

The following types of policies may defer the payment of dividends for more than 5 years, except: A Industrial insurance B Annuities C Variable Universal Life D Pure Endowments

c

To protect beneficiaries from creditors, a life policy must be free from which of the following? A Policy loan payments B Property taxes only C Any of the insured's creditors D Claims of the insurer

c

Under the ACA dependent children must be covered to what age: A 22 years of age B 18 years of age C 26 years of age D 30 years of age

c

Which of the following is a false statement about the powers of the Commissioner of Insurance regarding Department of Insurance hearings? A The Commissioner can examine witnesses and evidence B The Commissioner can serve a person a statement of charges and conduct a hearing C The Commissioner does not have the power to issue a cease and desist D The Commissioner has subpoena power

c

Which of the following is false regarding what is required for a Foreign Company to be authorized to transact business in Kansas? A The foreign company must demonstrate that the majority ownership interests of the company are financially sound B The foreign company must make the required deposit with the Kansas Insurance Department C The foreign company requires immediate regulatory attention by the Department of Insurance D The foreign company must have been in operation for at least 3 years

c

Which of the following statements is true regarding continuation of coverage under a group health insurance policy? A If an insured's coverage is terminated for any reason, the insured is eligible for continuation of coverage for 18 months if such insured has been covered under the group policy for at least 6 months B If an insured's coverage is terminated for any reason, the insured is eligible for continuation of coverage for 12 months if such insured has been covered under the group policy for at least 6 months C If an insured's coverage is terminated for any reason, the insured is eligible for continuation of coverage for 18 months if such insured has been covered under the group policy for at least 3 months D If an insured's coverage is terminated for any reason, the insured is eligible for continuation of coverage for 12 months if such insured has been covered under the group policy for at least 3 months

c

All of the following are true regarding persons required to be licensed, except: A To qualify for a nonresident license, a nonresident producer must be in good standing in his/her home state B A producer is an individual or business entity required to be licensed to transact insurance C An individual or business entity that is a resident of another state and licensed as a producer in another state may be licensed as a nonresident producer in Kansas D The term 'producer' does not include a broker

d

All of the following is true regarding the receipt for premium, except: A The receipt may void coverage if a check or draft for the premium is not honored when presented B The receipt may limit coverage by specifying the amount and type of temporary coverage C The receipt may void the coverage if the application contains a material misrepresentation or was fraudulently completed D The receipt may not exclude coverage for suicide

d

An accelerated benefit is a rider added to a policy that: A Cannot be taken as a lump sum B Can contain restrictions on use C Cancels the policy regardless of the amount of the accelerated benefit received D Requires a summary being given at the time of application

d

Any paid-up benefit of an annuity must be at least the present value as of the surrender date if which of the following options exists? A A nonforfeiture option B Anytime C A cash surrender option D A cash surrender nonforfeiture option

d

Choose the transaction regarding the existing contract that would not be considered a replacement when a new life insurance policy is issued. A Contract is converted into paid-up insurance B Contract lapses C Contract is terminated D Contract is reissued with an increase in amount

d

Encouraging a client to lapse one policy to take out another while the agent inflates the benefits of the policy is known as which of the following? A Intimidation B Coercion C Defamation D Twisting

d

Under Kansas law, which of the following rate discrimination practices IS allowed? A Based on the insured's age in auto liability policies B Between a blind person and a sighted person C Based on geographic location D Based on actuarial data

d

What is the correct order of escalating consequences if a producer fails to maintain CE requirements? A The producer's license is revoked, then confiscated B The producer's license is suspended, then terminated C The producer's license is suspended, then revoked D The producer's license is suspended, then deemed expired

d

When an insurance policy is going to be replaced, the insured must receive from the producer all but one of the following: A A list of all existing policies to be replaced B Notice of Replacement signed by both the producer and the applicant C An outline of coverage D A guarantee of insurability

d

Which of the following does not meet Kansas Small Employer Health Insurance Availability Act: A A pre-existing exclusion may not exceed 90 days B The employees must work at least 30 hours to be eligible C Pregnancy cannot be considered a pre-existing condition D There must be at least 75 employees to be covered

d

Which of the following is correct regarding license renewal? A A producer's license is renewed annually B A producer's license remains in effect for two years C Unless suspended, revoked or refused renewal, a producer's license is perpetual D Unless suspended, revoked or refused renewal, a producer's license remains in effect provided that the producer has met the educational requirements by the biennial due date

d

Which of the following is correct with regard to producer appointments? A All producers in an agency are appointed by the agency and not by an insurer B An insurer that certifies a producer must notify the Insurance Department within 10 days of the appointment C A producer may not cancel his/her own certification D A producer must be appointed by at least one insurer in order to transact insurance in Kansas

d

Which of the following is not a purpose of the statutes regarding the replacement of life insurance? A Regulates the activities of insurers and producers B Establishes penalties for violation of the statutes C Reduces the opportunity for misrepresentation D Protects the beneficiaries from a loss of benefits

d

Which of the following is not true of Coordination of Benefits: A Medicare is the secondary payor of the insured is still working and has coverage under an employer group health plan B A group plan covering a spouse who also has coverage under their own group plan is secondary C A group health plan covering an employee is the primary plan D A child covered under both parents' plan will have primary coverage under the older parent's group plan

d

Which of the following is true regarding a change of address/place of business: A Notification must be given within 90 days B Notification must be given within 20 days C Notification must be given within 60 days D Notification must be given within 30 days

d

Which of the following statements is correct with respect to a Certificate of Authority? A An insurer may transact business in Kansas for a maximum of 30 days before obtaining a Certificate of Authority B Once an insurer has applied for a Certificate of Authority, it may transact business in Kansas until and if the application is denied by the Commissioner C Insurers are not required to have a Certificate of Authority in order to transact business in Kansas D It is unlawful for an insurer to transact any business in Kansas without a Certificate of Authority

d


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