8 - Laws and Rules

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

Which of the following violations is considered an unfair trade practice?

Coercion

What MUST an insurance company use in its advertising?

Its true corporate name

Under Kansas law, an employee can enroll in an employer sponsored group medical plan within 31 days under all of the following conditions EXCEPT

a rate increase under their spouse's program

An insurance company can usually contest the information contained in an accident and health application for two years from the date that the

insurance company dates the policy

A certificate of authority permits an

insurance company to transact business

A Long-Term Care policy that provides for home health care must provide coverage that is equivalent to at LEAST

one-half of one year's coverage available for nursing home benefits

The Kansas Life and Health Insurance Guaranty Association was established to provide funds

to protect an insured in the event of an insurer's insolvency

A life/health insurance producer must have how many hours of ethics per continuing education reporting period?

1

Following a caesarean birth in a medical care facility, subject to the attending physician's approval, a health care plan must provide coverage for inpatient care for at least

96 hours

Under the Affordable Care Act, eligibility for dependent children can be determined by which of the following?

Age

In Kansas, which of the following is required in order to continue a resident insurance producer license?

Meeting continuing education requirements

Which of the following statements must be CORRECT for a nonresident to be eligible for a producer license in this state?

The producer's state of residence must have reciprocity with this state

An insurance company that is organized or chartered in a country other than the United States is defined as

alien

Which of the following is considered an Unfair Trade Practice under Kansas law?

Coercion

An insurance company must furnish claim forms to an insured so that the insured can file

proof of a loss

A producer must complete 12 hours of Continuing Education every

2 years

Which of the following actions by an insurance company is considered an unfair claims settlement practice?

Denying an insured's claim without indicating the basis of denial under the policy

How does the Commissioner of Insurance attain office?

Elected by the people of Kansas to a 4-year term

What type of Marketplace is the Kansas Health Insurance Exchange?

Federally Facilitated

ABC Life Insurance company's home office is located in Massachusetts and is incorporated in Massachusetts. In Kansas they are considered to be

Foreign

An advertisement for an Accident & Health policy may include statistical information under which of the following circumstances?

If the statisitical information is accurate and the source is cited

Which of the following statements is CORRECT about the Life and Health Insurance Guaranty Association?

It is funded by insurance companies through assessments

Which of the following statements is CORRECT about a domestic insurance company in Kansas?

It must be organized under Kansas insurance laws

An insurance company formed under the laws of Canada would be known in Kansas as a domestic company

an alien company

A creditor who requires a debtor to obtain insurance from a particular company or producer as a condition for a loan is guilty of

coercion

The Commissioner of Insurance may suspend or revoke the license of a producer who takes any of the following actions EXCEPT

represents more than one insurance company

Boycott, coercion, and intimidation that result in the unreasonable restraint of trade are prohibited under the Kansas insurance laws covering

unfair trade practices

A stock insurance company is owned by it's

stockholders

A certificate of authority does which of the following?

Permits an insurance company to transact business in Kansas

For an individual health policy that is paid for on a monthly basis, the Grace Period provision is a MINIMUM of how many days?

Ten

The purpose of the Guaranty Fund is to

ensure that claims filed against insolvent insurance companies will be paid

To verify if replacement is involved in a Medicare Supplement sale, insurance law requires that a question about replacement appear on

the application form

To verify if replacement is involved in a Medicare Supplement sale, the law requires that a question about replacement appear on

the application form

An insurance company can be any of the following EXCEPT

domestic and alien

An insurance producer working for a mortgage company requires that an applicant buy insurance from the producer as a condition for granting a loan. This is an example of which of the following unfair practices?

Coercion

A producer must handle funds of a client or insurance company honestly and fairly and NOT use them for the producer's own purposes. This is called

fiduciary responsibility

The primary purpose of regulation of the insurance industry is to

promote the public welfare by maintaining the solvency of insurance companies

Which of the following is an example of rebating?

returning a portion of a premium as inducement to purchase insurance

An insurer must offer group medical coverage to all eligible employees of a small employer if the employee

satisfied an applicable waiting period

A temporary license is issued by the Commissioner of Insurance to allow

the personal representative of a deceased producer to provide service to existing policyowners

Before a licensed producer is eligible to transact insurance sales, they must be

appointed by an insurance company

Which of the following terms defines the authority given to an producer to transact business on behalf of the insurer?

appointment

If a producer is found guilty of a felony, he/she is required to notify the Commissioner within how many days?

30

Inpatient treatment for alcohol and drug abuse shall be for a minimum of how many days per year of coverage?

30

Within how many days must a producer notify the Commissioner of a change in address?

30

If a producer changes her residence address, she must notify the Commissioner within

30 days

An applicant for a nonresident producer license MUST meet which of the following requirements?

Be licensed as a producer in the producer's state of domicile

Which of the following basics is a producer's fiduciary responsibility?

Collecting premiums and paying them to the insurance company

An applicant for a resident insurance producer's license MUST meet which of the following requirements?

Complete a prelicensing examination

Making an unfair comparison of two policies is defined as

misrepresentation

A producer may legally share commissions only with

another producer who is licensed in the same line of insurance

Prior to use, a Long Term Care insurer MUST provide to the Department of Insurance a copy of

any Long Term Care insurance advertisement

A producer is an individual who has been authorized by an insurer to be its representative and to perform all of the following acts EXCEPT

authorize payment of certain claims

Before an insurance company can issue a small employer group policy, it MUST

be authorized to write accident and health insurance in this state

The Commissioner may examine the records of an insurance company in order to

determine the solvency of the company

An insurance company may be judged guilty of false advertising if it

exaggerates its dividends in a newspaper advertisement

When transacting insurance business, the producer legally represents the

insurance company

The Commissioner of insurance may suspend, revoke, or refuse to renew the license of a producer who

is found guilty of misrepresentation or fraud in obtaining the license

Producers may be found guilty of defamation if they make a false statement that is intended to

malign another insurance company

A producer who intentionally makes an untrue or incomplete statement in the course of an insurance transaction may be guilty of

misrepresentation

An insurance producer who convinces a prospective insured to purchase a policy by exaggerating the benefits of the policy may be found guilty of

misrepresentation

The pre-existing condition clause in a long-term care policy MUST be waived when the

new policy replaces existing coverage with the same insurer

When replacing a Medicare Supplement policy, a producer must take all of the following actions EXCEPT

notify the Insurance Department of the replacement

The Replacement of Life Insurance and Annuities regulation is designed to protect the interest of the

policyowner

After notice and a hearing, the Insurance Commissioner may revoke a producer's license for all of the following reasons EXCEPT the

producer is found to be insolvent

Insurance producer licenses normally must be renewed every

two years

A producer may only sell products from an insurer after

being properly appointed by the insurer

In Kansas, a domestic insurance company is defined as a company that

is incorporated and formed in Kansas

All of the following activities could result in the suspension of a producer's license EXCEPT

selling any replacement policy that causes an insured to lapse an existing policy

Continuing education hours for producers may be granted for participation in all of the following activities EXCEPT

attending a sales meeting

A temporary producer's license is valid for an initial period of how many days?

180

A Long-Term Care policy must offer a MINIMUM benefit period of how many months?

Twelve

The Commissioner of Insurance may issue a temporary producer's license for a maximum of how many days?

180

Medicare Supplement insurance is guaranteed issue if the policy effective date is within how many months of the insured's Medicare Part B starting date?

6

All health policies must cover the delivery expenses at birth of the birth mother of a child adopted within how many days of birth?

90

Which of the following statements is CORRECT about Accident and Health insurance advertisements?

Insurance companies are responsible for the accuracy of testimonials

A person covered by a group major medical policy leaves the group and converts the coverage to an individual policy. Which of the following statements is INCORRECT about the new policy?

It pays the same benefits as the group policy

A life/health producer must complete how many continuing education hours biennially?

Twelve

An insurance company that has not been approved by the state is considered to be

Unauthorized

The expenses incurred by the Commissioner for a financial examination of an insurance company are borne by the

company being examined

An insurance producer is BEST defined as

a person who has a contract with an insurance company to represent it

All of the following individuals are exempt from producer licensing requirements EXCEPT

a semi-retired producer

The Kansas Life and Health Insurance Guaranty Association Act applies to

annuity contracts

A newly licensed producer must complete how many hours of continuing education within 24 months after initial licensure?

12

Which of the following would be considered an unfair claim practice?

Misrepresenting insurance policy provisions affecting a loss

An organization that solicits insurance only among its members is known as a

fraternal benefit society

An insurance advertisement that tends to make a prospect want to find out more about a specific policy is referred to as an

institutional advertisement

An insurance company may compensate all of the following people EXCEPT

licensed producer not appointed by the company

Knowingly making misleading statements that would cause an insured to lapse, assign, or terminate an insurance policy in order to switch companies is an example of

twisting

In order to assure compliance with the law, the Commissioner of Insurance may issue

orders


संबंधित स्टडी सेट्स

Chapter 31: Central Nervous System Stimulants and Attention-Deficit/Hyperactivity Disorder

View Set

The Letter C: With or Without Cédille

View Set

FT 2-3 Lesson 12 Spread Spectrum Technology

View Set

LESSON 34:EFFECTS OF SOIL EROSION

View Set

BUSA 379 CH 1 Introduction to Business Process Management

View Set