Chapter 18-Connecticut Laws and Rules Pertinent to Insurance
All of these are a pre-requisite for becoming a licensed produceer in Connecticut except
High School Diploma
What does a Medicare Supplement policy cover?
allowable amounts under Medicare part B
A television advertisement features a health insurance product that's endorsed by a specific group. In this advertisement,
any control by the insurer over this group must be disclosed.
A(n) _____ agent is a producer who writes and places coverage for a specific insurance company
appointed
An admitted company in Connecticut MUST
be licensed in Connecticut
Medical costs in birthing centers are lowered by using
certified nurse midwives.
Under the Pregnancy Discrimination Act of 1978 employers MUST treat pregnancy
in the same mannger as any other covered disability
If a producer fails to remit collected premiums to the insurance company, the producer may be in violation of
misappropriation
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, the applicant
must sign a statement that no illustration was provided
How would preventative care be encouraged in a dental plan?
no deductible on routine examinations
A medicare Supplement policy can be cancelled by the insurer for
nonpayment
An accelerated (living) benefit is payable based upon the occurence of qualifying event. This qualifying event is certified by a(n)
physician
An accelerated (living) benefits is payable based upon the occurence of a qualifying event. This qualifying event is certified by a(n)
physician
Which of these is NOT a standard provision in qualified long-term care policies sold in Connecticut?
prior hospitalization
An insurance company appoints a(n) ______ to transact insurance
producer
A medicare supplement policyholder has ______ days to return the policy and receive a full premium refund
30 days
A group life insurance policy insured may assign up to _____ of the insured's coverage
100%
What's the MINIMUM benefit period that must be offered by a Long-term care policy?
12 months
If an employer decides to cancel a group life insurance plan, it must give at least ____ days notice to the employees prior to the date of cancellation or discontinuation
15
A temporary producer license is valid for a maximum of ______ days
180
A producer must notify the Commissioner with _____ days of an address change
30
B and his family are covered under a family health policy. B and his wife recently had a daughter. B must provide notice of birth and payment of premium to the insurer with ____ days after birth to maintain coverage on the newborn.
31
B is covered by a group health plan. B's employment is terminated and decides to convert the coverage to an individual policy. How many days does B have to convert?
31 days
To be classifiedl as a smaller employer an employer must employer must employ
50 or fewer
The MAXIMUM time period that pre-existing conditions can be excluded in long-term care policies is
6 months
The waiting period for a pre-existing condition under a Medicare Supplement policy may NOT go beyond
6 months
What is the enrollment period for a Medicare beneficiary who would like to apply for a Medicare Supplement policy?
6 months beginning on the date she first enrolls for Medicare Part B
A life policy loan in Connecticut can't charge a rate of interest higher than
8%
In connecticut, the maximum fixed interest rate a life insurance policy may charge is
8%
A producer is holding a meeting with a poential client about replacing an existing group health insurance policy. The topic that should be included in the conversation is
A comparison of benefits between the current and proposed plans
A producer's license may be issues without taking an examination for which of these individuals?
An individual who holds an approved professional designation
Which of these terms best describes the obligations involved with handling and managing other people's money
Fiduciary responsiblity
When is a Group Health policy required to provide coverage for a newborn child?
At the moment of birth
According to connecitcut law, when must a producer deliver the Outline of Coverage to a Medicare Supplement applicant?
At the time of application
Which of these Must be given to a life insurance applicant upon policy delivery?
Buyer's Guide
A person who charges a fee for giving insurance advice is called a(n)
CIC(certified Insurance consultant)
In Connecticut which of the following is considered an unfair trade practice?
Coercion
All of the following MUST be included in a life insurance illustration EXCEPT
Company's mortality table
Health providers are compensated by a PPO for normal dental procedure by what means?
Decreased fee schedules
An example of an Unfair Claims Settlement Practice is
Failing to promptly investigate and settle legitimate claims
A consumer who has been recently denied insurance, credit, or employment based on an unfavorable consumer report MUST be advised as such. Which of the following does that statute originate from?
Fair Credit reporting act
Which of the following is NOT classified as an "employee" under a group employer insurance plan?
Independent contractors
During the course of a Medicare Supplement sale, T the agent determines there is an existing policy being replaced. Which of these actions is T not required to perform?
Notify the replaced insurance company
If a Medicare Supplement policy involved replacement, it must be verified on a question located
On the application
Which of the following MUST be delivered with a Medicare Supplement policy?
Outline of coverage
Which of these is a legitimate form of life insurance advertisement?
Paid celeberty endorsement
What is the purpose of the Insurance Guaranty Association?
Pays authorized claims for liquidated life and insurance insurers
Which of the following triggers an accelerated (living) benefit?
Qualifying event
When an insurer markets it Medicare Supplement products in Connecticut, which method is acceptable?
Replacing an existing policy with one that has greater benefits. Permitted but highly regulated
Which of these statements is true about an insurance broker?
Represents more than 1 insurer
An example of rebating would be
Returning a portion of a premium as inducement to purchase insurance
Which of these individuals is eligible for a temporary producer's license?
Spouse of a disabled producer
Which of the following is NOT a valid cause for termination of an employee's group health coverage?
The coinsurance limit has been exceeded
Mentally or physically handicapped dependent children MUST be covered under an individual health insurance policy
Until they become self-supporting
At what point must insurable interest exist on a life insurance policy?
Upon the application being taken
Which of these products does standard nonforfeiture law apply to
Whole Life policies. Because of the cash value that accumulates
The commissioner of Insurance may NOT suspend or revoke a producer's license until
a hearing is conducted and an order issued
Jerry has an indemnity plan which covers dental expenses. Typically, these type of plans
cover preventative care once every six months
According to the Affordable Care Act, which of the following coverages is NOT required?
coverage for cosmetic surgery
Connecticut's 10-day free look period for life insurance policies begins at the
date of delivery
An example of endodontic treatment is a
root canal
A long-term care lapse notice must be delivered to both the applicant and
secondary addressee
A group health certificate for coverage issued in Connecticut MUST contain a(n)
summary of policy features and benefits
Essential benefits without annual and lifetime limits are required on any health policy purchased
though the Federal Marketplace
Reinsurance is
used by insurance companies to share risks.