Laws and Rules
Kansas insurance laws address diabetes coverage. Under Kansas insurance laws, policies MUST?
Apply the same deductible and copays to covered diabetic supplies as other medical conditions
Which of the following is a requirement to attain a Kansas resident producer license?
At least 18 years old
When is a Group Health policy required to provide coverage for a newborn child?
At the moment of birth
Which of the following is a requirement to attain a nonresident producer license?
Be licensed as a producer in the producer's state of domicile
A domestic insurance company in Kansas MUST?
Be organized under Kansas insurance laws
When an unfair trade practice has been discovered, the Commissioner may issue a?
Cease and desist order
Terry the insurance producer works for a mortgage company. He agrees to grant a loan ONLY if the applicant were to purchase insurance from him. Terry has committed the unfair practice of?
Coercion
Which of the following is a requirement for a producer's license renewal?
Completing the required continuing education
Kansas' 10-day free-look period for life insurance polices begins at the?
Date of delivery
A producer who makes a false statement intended to malign another insurance company is committing the illegal act of?
Defamation
What requirement must all eligible employees of a small employer meet before an insurer will cover with a group of medical coverage?
Employee must satisfy a specified waiting period
How often just the Commissioner examine each domestic insurance company?
Every 5 years
How often must an insurance producer's license in Kansas be renewed?
Every two years
What is one of the roles of the Commissioner?
Examine insurer solvency
The Kansas Health Insurance Exchange is what kind of Marketplace?
Federally Facilitated
In Kansas, an insurer licensed to conduct business in Kansas, but domiciled in New Jersey, is called a(n)?
Foreign company
A hearing must be held before a producer's license can be suspended or revoked. Prior to the hearing, the Commissioner of Insurance is required to?
Give written notice to the producer
Under a Group Life policy, which of these is considered to be a standard provision of the conversion privileges?
Group Life coverage can be converted to an individual policy at regular rates on an attained-age basis
In Kansas, a long-term care policy must be _____ renewable.
Guaranteed
What is the required renewability status of all Medicare supplement policies?
Guaranteed renewable
What is the requirement BEFORE an insurance company issues a small employer group policy?
It must be authorized to write accident and health insurance in Kansas
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
Under Kansas law, which of the following provisions is NOT required in a Medicare Supplement policy?
Limitation on pre-existing conditions for up to 12 months
A Kansas resident insurance producer must perform which of the following actions to continue with their license?
Meet continuing education requirements
Convincing a prospective insured to buy an insurance policy based on exaggerations is called?
Misrepresentation
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share of stock?
Misrepresentation
Which unfair trade practice involves a producer suggesting that an insurance policy is like a share of stock?
Misrepresentation
_____ can be defined as "making an unfair comparison of two insurance policies".
Misrepresentation
T is covered by a group major medical policy with his employer. He leaves his employer and converts the coverage to an individual policy. All of these statements about the new policy are true EXCEPT?
New policy pays the same benefits as the group policy
P is a producer who is licensed in Kansas but a resident in Nebraska. P is a(n) _____ producer.
Nonresident
T the producer is replacing a client's existing insurance policy with a new one. Prior to policy delivery, which form must the client be provided with?
Notice Regarding Replacement
Which of these would NOT be an unfair claims practice?
Offering payment of approved claims within 30 days after affirming liability
S is a life insurance policyowner and enters into a written agreement to receive immediate cash in exchange for the sale and transfer of her life insurance policy. This agreement is referred to as a(n)?
viatical settlement
What does a certificate of authority allow?
An insurance company to conduct insurance business
What is the maximum fine for willfully violating the Unfair Trade Practice laws of Kansas?
$1,000
An unintentional violation of Kansas insurance law could lead a producer to a fine of up to _____ per violation.
$500
A producer just complete _____ hour(s) of ethics per continuing education reporting period.
1
Kansas requires that an insurance producer must complete _____ hour(s) of continuing education on the subject of law and ethics every reporting period.
1
A life insurance policy owner has _____ days to return the policy and receive a full premium refund.
10
What is the minimum grace period for an individual health policy that is paid monthly?
10 days
A producer must complete _____ hours of continuation education biennially.
12
What is the MINIMUM benefit period that must be offered by a Long-Term Care policy?
12 months
How many days is a temporary producer's license valid?
180
To be classified as a small employer, an employer must employ?
2-50 employees
A producer must notify the Commissioner of a change in address within _____ days.
30
A producer must notify the Commissioner within _____ days of a felony conviction?
30
The required free-look period in a Medicare Supplement policy is _____ days.
30
Within _____ days after policy delivery, both Medicare Supplement and Long-Term Care policies can be returned for a 100% premium refund.
30
What's the minimum grace period for an individual life insurance policy issued in Kansas?
30 days
The Commissioner of Insurance is the chief officer of the Kansas Department of Insurance and is elected to a _____ year term.
4
According to the Nonforfeiture Law, what's the MAXIMIM number of months a cash surrender value payment may be deferred by an insurance company?
6
In order for a Medicare Supplement policy to be issued on a guaranteed basis, the policy's effective date must be within _____ months of the insured's Medicare Part B starting date.
6
The waiting period for a pre-existing conditions on Medicare Supplement policies is _____ months.
6
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
A life policy loan in Kansas cannot charge a fixed rate of interest higher than?
8%
the birth mother of an adopted child must be covered for delivery expenses if the child is adopted within how many days of birth?
90
A health care plan must contain a MINIMUM _____ coverage of inpatient care following a caesarean birth.
96 hours
Which of the following is NOT a required provision in a group life policy?
Accidental Death and Dismemberment
At what point may a producer sell products for an insurance company?
After being appointed by the insurer
At what point may a producer sell insurance for an insurer?
After being properly appointed by the insurer
An example of unfair discrimination would be?
An insurance company that charges different premiums for insureds in the same risk classification
An insurance company has discovered, at the time of an insured's death, that the insured's age was misstated on the application. Which of the following actions would most likely be taken by the insurance company?
Pay the policy proceeds in the amount the premiums would have purchased at the insureds actual age
After selling an individual life insurance policy, a Kansas producer MUST deliver to the policy owner a(n)?
Policy summary and Buyers guide
Life insurance replacement regulation protects the interests of?
Policyowner
Which of the following actions is NOT required when a producer is replacing a Medicare Supplement policy?
Producer must notify the Commissioner of replacement
Which of the following is NOT a valid reason for the Commissioner of Insurance to suspend or revoke a producer's license?
Producer represents more than one insurance company
Which of the following actions by a producer would NOT result in a license suspension or revocation?
Producer sells a replacement policy that causes an insured to lapse an existing policy
_____ is the act of offering an applicant something of value as an inducement to purchase an insurance policy.
Rebating
Which of the following is NOT an example of "conducting insurance businesses"?
Selling shares of stock
In order to terminate a producer's appointment, the insurer MUST?
Send notice of the termination to the commissioner
Under what condition would an employee NOT be allowed to enroll in an employer-sponsored group medical plan within 31 days?
Spouse's program experiences a rate increase
W gave W's age as 50 when W purchased a Life policy. At the time of W's death seven years later, the company discovered W's true age at issue had been 59. What would the normal procedure be under the misstatement of age provision in regard to the payment of the death claim?
The proceeds would be reduced based on whatever the premium would have been if purchased at age 59
Why would the Commissioner of Insurance issue a temporary license?
To allow the personal representative of a deceased producer to provide service to existing policyowners
ABC Insurance Company failed to accept a valid proof of loss statement. This is considered to be a(n)?
Unfair claims practice
A life insurance policy owner may sell their policy to a(n) _____ in order to receive a percentage of the policy's face value.
Viatical settlement provider
Which of the following individuals is NOT exempt from producer licensing requirements?
a semi-retired producer
What determines eligibility for dependent children coverage under the Affordable Care Act?
age
A Long Term Care insurer must provide which of the following to the Department of Insurance before implementing?
any Long Term Care insurance advertisement
ABC insurance company would like to issue a small employer group policy in this state. Before doing so, it is REQUIRED to?
be authorized to write accident and health insurance in this state
J is a producer who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this producer be found guilty of?
coercion
Who is responsible for administering insurance laws?
commissioner
Why would the commissioner examine the records of an insurance company?
determine the solvency of the company
Life insurance replacement can be defined as?
exchanging an existing life policy for a new policy
An example of an unfair claims practice would be?
failing to effectuate prompt, fair, and equitable settlements of a claim
During the course of an insurance business transaction, who does the producer legally represent?
insurance company
During an insurance transaction, who does the producer represent?
insurer
A Stock Insurance Company
is owned exclusively by its shareholders
A Medicare Supplement policy can be cancelled by the insurer for?
nonpayment
An example of rebating would be?
offering a client something of value not stated in the contract in exchange for their business
Under a Long-Term Care policy, any provision that allows coverage for home health care MUST contain a minimum?
one-half of one year's coverage available for nursing home benefits
The Commissioner of Insurance may issue a(n) _____ to assure compliance with the law.
order
When a Medicare supplement policy is delivered, disclosure standards require that a(n) _____ of coverage be provided to the insured.
outline
A(n) _____ sells, solicits, or negotiates insurance on behalf of insurance companies for compensation.
producer
The _____ must provide an insured with proper disclosure concerning the replacement of an existing policy.
producer
According to Kansas law, group life insurance conversion privileges must NOT:
require evidence of insurability
A group life insurance policy may be converted to an individual policy under which circumstance?
termination of employment
An example of an unfair claims settlement practice is?
turning down a claim without providing the basis of denial
If an insurance company engages in boycott, coercion, or intimidation that leads to the unreasonable restraint of trade it would be breaking Kansas insurance laws covering?
unfair trade practices
