**PA Health, Life, and Accident Insurance

31

A conversion privilege under a group health insurance plan generally must be exercised within how many days after the group coverage terminates?

At the moment of birth

A health insurance policy that provides coverage for the insured's family members must provide that benefits are payable for a newly born child beginning

A

All of the following are allowable activities for an individual who holds a temporary license except: A. Procure new business from a deceased producers existing clients B. Renew the business of a deceased producer C. Maintain the business of a disabled producer D. Perform any action necessary to keep a deceased producers business going until the estate is settled

B

All of the following are considered unfair claim practices except: A. Misrepresenting the amount of coverage payable under the policy B. Insisting on investigating they claim based on an uncertain cause of death C. Attempting to settle a claim for less than the contract provides D. Failing to act promptly on communications regarding claims

A

All of the following are true regarding Pennsylvania's life insurance replacement regulations except: A. No replacement transaction can be completed unless and until the insured/applicant is provided with a written comparison of the policies, terms, conditions, and benefits B. No replacement transaction can be completed unless and until the insured/applicant signs a statement verifying knowledge that a replacement will take place C. No replacement transaction can be completed unless and until the insured/applicant is given a notice regarding replacement of life insurance by the soliciting producer D. No replacement transaction can be completed unless the insured/applicant is provided a copy of all sales proposals or other sales material

A

All of the following are violations of Pennsylvania insurance law except: A. A licensed producer recommending the replacement of a life insurance policy for an annuity contract B. A licensed producer accepting business that was solicited by a person who is not a licensed producer C. Requiring A consumer to purchase insurance for me designated financial institution as a condition of taking out a loan D. A licensed producer sharing a portion of his commission with a first time insurance buyer

D

All of the following people must be licensed to transact insurance business in Pennsylvania except: A. Producers who specialize in annuities B. Producers who work for more than one insurance company C. Insurance producers who hold their charted life underwriter designation D. The chief financial officer of an insurer who does not solicit or negotiate risks

B

All of the following statements regarding the treatment of life insurance policy loans in Pennsylvania are true except: A. Loans do not have to be made available until the policy has been in force for three years B. If a policy owner fails to repay a loan with any prescribed period Of time, the policy may be voided by the insurer C. If a policy loan is outstanding at the insured's death, the insurer may deduct the outstanding amount from the death proceeds D. Insurers may charge a variable rate of interest on their policy loans

A certificate of authority

And insurance companies license to do business in Pennsylvania is called

January 31

And insured submit a notice of loss to his insurer, with all additional necessary information, on January 1. As a general rule according to Pennsylvania law, by what date must the insurer complete its claims investigation?

conservation

Any attempt by the existing insurer or its producers to dissuade a policyholder for me placing an existing insurance policy is also known as

Compliance with state laws

By examining insurance records, the insurance commissioner assesses the companies

It will likely deny the claim, citing the probationary period exclusion

Chris purchased a short term disability insurance policy from good health insurance company. The policies face page states that the coverage excludes pre-existing conditions. When the policy was issued, Chris was recovering from a broken leg. A week later, Chris slipped on an icy sidewalk and broke the same leg again. Have a good health insurance company likely respond to Chris's claim?

6 months

Disability income insurance policies in Pennsylvania must provide a maximum benefit period of at least

Insurance Commissioner

Executing the insurance laws of Pennsylvania is whose responsibility?

A

Good health insurance company's medical expense policy includes a probationary period equal to the maximum time allowed by Pennsylvania law. Which of the following statements is correct? A. No claims are payable under the policy for the first 30 days after policy issue B. No claims are payable under the policy for the first 30 days following every policy renewal date C. The insured must have been in good health for the 30 days preceding policy application D. The insured must have been in good health for the 30 days both preceding policy application and following policy issue

96

Health insurance policies that provide maternity benefits must provide a minimum of how many hours of inpatient care following caesarean delivery?

A copy of long life's privacy statement

I need to purchase a $300,000 universal life policy from Long life insurance Company. Which of the following much she be given at least once a year as long as she continues to on the policy?

2 years

In Pennsylvania, a producers term of licensure is

C

In Pennsylvania, all of the following are considered unfair trade practices except: A. Misrepresentation B. Rebating C. Replacement D. Defamation

Insurers

In Pennsylvania, producer appointments are made by

10

In Pennsylvania, the free look period for all individual life insurance policies how many days?

Once every 5 years

Licensed insurance companies are subject to examination by the department of insurance at least

30 days or 1 month

Life insurance policies must include a provision entitling insureds to a grace period for payment of premium, during which time the death benefit coverage continues in force. How long must this grace period Last?

6 months before the effective date of an insured's coverage

Long term care insurance policies cannot find a pre-existing condition more narrowly than a condition for which medical advice or treatment was recommended by or received from a provider of healthcare services within what time period?

C

Long-term care policies must have a provision regarding reinstatement that provides for which of the following? A. Reinstatement of a lapsed policy if requested within one year of the lapse B. No reinstatement of a lapsed policy for anyone over the age of 75 C. Reinstatement of elapsed policy if the insurer receives proof of cognitive impairment or functional and incapacity of the insured D. Automatic reinstatement of a lapse policy regardless of the reason for the lapse if the insured is over age 80

30 Days

Medicare supplement policies must provide a free look period of at least

C

On September 1, Max trans 35. Two months later, he applied for a $150,000 life insurance policy. His application was approved in a policy was issued, dated August 1. Which of the following statements is correct? A. Max lied about his age on the application in the insurer has the right to cancel the policy B. The insurer violated Pennsylvania's law regarding backdating of insurance policies C. The policy was issued appropriately D. The policy will be issued with a rate up in premium

Until the appointment is terminated by the appointing insurer

Once appointed, a producers appointment extends

30

Producers must report any criminal charge to the commissioner within how many days of the charge

B

Prohibition against which of the following insurance practices extends to consumers as well as Producers? A. Twisting B. Rebating C. Misrepresentation D. Defamation

$5,000

Specified disease coverage in Pennsylvania must provide an overall aggregate benefit limit of at least

A

The commissioner may deny, revote, or suspend a producer license for any of the following except: A. Failing to meet the annual production quota as determined by the insurer B. Providing False information in a license application C. Misappropriating money being held in a fiduciary capacity D. Committing a felony

C

The insurance commissioner is responsible for all of the following duties except: A. Issuing certificates of authority B. Enforcing provisions of the insurance code C. Conducting insurer investigations D. Enacting insurance laws

The states

The insurance industry in the United States primarily is regulated by

30

The law requires a license producers advise the insurance department of a change in the residential or business address within how many days of such a change?

Twisting

The practice of using misrepresentation to induce any person to lapse, forfeit, surrender, exchange, or convert an insurance policy is also known as

Ensure that policyholders are given the information they need to make informed decisions regarding such transactions

The purpose of Pennsylvania's replacement regulations is to

18

To be qualified for an insurance producer license in Pennsylvania, an individual applicant must have reached the age of

Rebating

To motivate a buyer to sign an application for insurance, a producer promise as a gift and 50% of the commission. This is an example of

May 10

Tyrone applied for a life insurance policy on April 1. The application was submitted to the insured on April 7. The company approved the application on April 30 and issued the policy on May 5. Tyrone's producer delivered the policy to his new client on May 10. When does Tyrone's free look period Begin?

A

Under Pennsylvania's life insurance disclosure requirements, all of the following elements of insurance policy sale must be identified and described except: A. The producers commission B. The policies face amount C. Dividends payable D. The policies cash surrender value

24

Unless exempt, insurance producers must complete how many hours of approved continuing education courses during each two-year license period ?

1 year

What is the maximum period of time within which an insurance producer can reinstate a lapsed license without having to reapply for the license?

180 days

What is the maximum term of a temporary license that is issued as a result of a licensees death?

B

When an insurance transaction involves a replacement, a producer must do all the following except: A. Give the applicant a notice regarding replacement of life insurance signed by the applicant and producer B. Notify the existing insurer when one of its subsidiaries is the issuer of the replacement policy C. Make a list of all the applicants existing life insurance policies D. Obtain a signed statement from the applicant disclosing any existing insurance policies to replace

C

Which of the following could be paid an insurance commission or fee? A. Lenny, a retired insurance producer who no longer maintains a license but his book of business generates policy renewals B. Patricia, an employee benefits attorney who refers a business client to a producer specializing in group insurance C. Both a and B D. Neither a nor b

C

Which of the following life insurance prospects must be provided with a disclosure statement at the time of solicitation? A. Arnold, who is applying for a deferred fixed annuity with a $5000 premium deposit B. June, who has requested the conversion of her $1000 term policy to a permanent plan, under the policies conversion option C. Juan, who is applying for a second whole life policy with the same insurer, in the amount of $250,000 D. Leah, who is applying for a $1000 policy on the life of her granddaughter

C

Which of the following statements regarding variable life insurance in Pennsylvania is not correct: A. Variable life insurance is a security B. The separate account that supports the policy is primarily composed of stocks and bonds C. Investment risk for the policies performance is borne by the insurer D. All variable life policies must be filed for approval with the commissioner