2/2 questions

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

$10,000

The most the Insurance Guaranty Association will pay for net cash surrender values is

$100,000

At the time of initial licensing, what fee must a viatical settlement provider pay?

$300

For how many days of skilled nursing facility care will medicare pay benefits?

100

if a consumer requests additional information concerning an investigative consumer report, how long does the insurer or reporting agency have to comply

5 days

The benefits for individual disability plans are based on

A flat amount

A straight life policy has what type of premium>

A level annual premium for the life of the insured

At what point must an Outline of Coverage be delivered?

At the time of application or upon delivery of the policy

Which of the following protects the insured from an unintentional policy lapse due to a nonpayment of premium?

Automatic premium loan

Which of the following provisions in annuity contracts allow the owner to surrender the annuity if interest rates drop to a specified level?

Bail-out

Who must sign the notice regarding replacement?

Both the applicant and agent

which of the following reports will provide the underwriter with the information about an insurance applicant's credit

Consumer report

A health insurance policy that pays a lump sum if the insured suffers a heart attack or stroke is known as

Critical illness

On a major medical insurance policy, the amount that an insured must pay on a claim before the insurer will pay is known as

Deductible

Which authority created the Natinal Do Not Call Registry?

FTC (Federal Trade Commission)

What are the 2 components of a universal policy?

Insurance and cash account

What is the benefit of choosing extended term as a nonforfeiture option?

It has the highest amount of insurance protection

The form of life annuity which pays benefits throughout the lifetime of the annuitant and also guarentees payment for a minimum number of years is called

Life income with period certain

If a settlement option is not chosen by the policyowner or the beneficiary, which option will be used?

Lump sum

In long-term care insurance, what type of care is provided with intermediate care?

Occasional nursing or rehabilitive care

Which Universal Life option has a gradually increasing cash value and a level death benefit?

Option A

Which of the following riders would NOT cause the death benefit to increase?

Payor benefit rider

When benefits are paid directly to the insured under a health insurance policy, the policy provides benefits on what type of basis?

Reimbursement

Annuities can be used to fund which of the following?

Retirement plans

Which of the following statements about group life is correct?

The cost of coverage is based on the ratio of men and women in the group

When would a 20-pay whole life policy endow?

When the insured reaches age 100

The two types of assignments are

absolute and collateral

At what point must an outline of coverage be delivered?

at the time of the application or upon delivery of the policy

Which of the following protects the insured from an unintentional lapse due to a nonpayment of premium

automatic premium loan

The state insurance code identifies all of the following as prohibited acts that can cause suspension, revocation or denial of an insurance producer license EXCEPT

committing any misdemeanor

cost-containment

daily needs and pain relief are provided for hospice patients

Which of the following is true regarding taxation of dividends in participating policies?

dividends are not taxable

When an employer offers to give an employee a wage increase in the amount of the premium on a new life insurance policy, this is called an

executive bonus

The section of a health policy that states the causes of eligible loss under which an insured is assumed to be disabled is the

insuring clause

Trusts are commonly established for

minors or to create a scholarship fund

Under which plan does preventative dental treatment not apply toward the deductible?

nonscheduled

Medicare part D is for

prescription drug coverage

Lost dentures

specifically excluded from coverage in a dental plan

How soon after the due date should the insurer pay the agent appointment fees?

within 30 days

How soon after the due date should the insurer pay the agent appointment fees?

withing 30 days