La Life and Health
an employee quits her job where she has a balance of 10,000 in her qualified plan. If she decides to do a direct transfer from her plan to a traditional IRA, how much will be transferred from one plan admin to another and what are the tax consequences
10,000: no consequences
if a consumer request additional info concerning an investigative consumer report, how long does the reporting agency have to comply?
5 Days
all other facts being equal, which of the following individuals would receive the largest monthly check from a sing premium straight life immediate annuity
60 year old man
a producers license has been revoked a second time for violating insurance code. When can the producer apply for a new license
After the revocation period
which of the following options best depicts how the eligibility of members for group health is determinded
By conditions of employment
an insurance contract requires that both of the insured and insurer meet certain conditions in order for the contract to be enforceable
Conditional
what type of annuity guarantees to pay an income to the annuint each year as long as he/she lives, and upon death, the annuity will refund the remaining payments to a beneficiary
Installment Refund annuity
Charla wants to serve as producer of CGIC. What must happen before she can transact insurance for CGIC?
Must be appointed specifically by CGIC
which of the following is not true regarding the needs approach method in determining the value of an individuals life?
Need is predicted using the number of years until the insureds retirement
In an individual long-term care plan, the insured is able to able to deduct premiums for taxes. What income taxation will be imposed on benefits received
No tax
an insured neglects to pay his premiums, so his policy lapsed. He filed a reinstatement and another premium shortly after.. Five days later he had a consultation with the general physician. what is covered
None
What does the Fair Credit Report do
Regulates consumer reports
The Death Protection in a Universal life insurance policy is always
Renewable term insurance
Which of the following dental insurance categories would cover the filling of cavities
Routine and major restore care
an insured submitted a notice of claims to the insurer, but never recived claim forms. He later submits proof of loss in a written letter to insurer. which is true
The insured was in compliance with the policy requirements regarding claims
An insurer conducts busn in Louisiana without a certificate of insurance. Policies are sold, and claims roll in. what happens?
The insurer must pay claims anyway
what is not the purpose of HIPPA
To provide immediate coverage to new employees who had been previously covered for 18 months
When an insurer offers services like preadmission testing, secondary options regarding surgery, and preventive care, which term would best apply
case management provision
what is not a true of an hmo
contracting with insurance companies
in the executive bonus plan, who is the owner, who pays the policy
executive is the owner and pays the premium
when the policy owner specifies a dollar amount in which instalments are made. which option did they choose
fixed amount
An insurance company ran an ad in june of 2008. when could the company dismiss the filed add
june 2012
Under the fair credit reporting act, individuals rejected for insurance due to info obtained by a consumer report
must be informed on the source of the report
what is the advantage of reinstating a policy instead of applying for a new one
original age is used to determine premium
which of the following methods to designate a beneficiary means by the head
per capita
which of the following would not be a violation of Louisiana insurance regulations
producer C uses her license to write uncontrolled busn only
Pertaining to insurance what if the definition of a fiduciary responsibility
promptly forwarding premiums to the insurance company
if a customer has any existing life policies what is the agent's next step?
provide a replacement notice to the applicant
which settlement option provides a single beneficiary with income for the rest of his/her life
single life
which of the following is true for both equities indexed annuities and fixed annuities
they both have guaranteed minimum interest rates
what is not a requirement for life insurance illustrations except
they must be part of the contract
what is a statement that is guaranteed to be true and if untrue, may breach an insurance contract
warranty
How soon following the occurrence of a covered loss must an insured submit written proof of such loss to the insurance company?
within 90 days, but prior to a year
