chapter 18 texas laws and rules pertinent to insurance Flashcards
in texas an individual life insurance policy is required to have a grace period of
31 days
an employee is covered under a company group life plan with a. $50,000 death benefit. what is the MAX amount a spouse may be insured for under this program
$25,000
spouse may not exceed 1/2 of the amount of the insurance
which of the following is a valid reason for an enrollee to be cancelled by a health maintenance organization (HMO) plan
nonpayment of coverage
which of these is NOT an example of doing insurance business
selling shares of stocks
if an insureds age was misstated of a life insurance contract, the misstatement of age provision requires that any death benefit payable would be
an amount that the premiums paid would have purchased at the current age
when will a hearing be held after a notice of hearing, alleging participation in an unfair or deceptive act, is served to a licensee or insurer by the commissioner
no sooner than 6 days
with whom may an agent legally share commissions
an agent with the same line of insurance
which of the following statements about health coverage for newborns is not true
coverage is limited to only congenital defects
an insurance agent has a fiduciary responsibility to all of the following except
other agents
_________ of continuing education must be completed int he classroom or classroom equivalent
50%
an insurance company organized under new york laws and licensed to do business in texas is considered an
foreign company
how long can a cash surrender value payment be deferred by the insurance company under the nonforfeiture law
6 months
to terminate an agents appointment an insurance company must
send termination notice to the texas department of insurance
in texas how long must a policy be in force before an insurance company must pay death benefits for suicide
2 years
which of the following is not included in a life insurance illustration
companys mortality table
an example of an unfair claims settlement practice is
turning down a claim without providing the basis of denial
a promotional advertising item is not considered a rebate unless it has a value equal to or less than what amount
$25
an evidence of coverage form may be issued by a health maintenance organization after being approved by the
commissioner
which of the following actions does the commissioner of insurance not have the power to conduct
activate insurance companies financial reserves
B, an insurance agent tells his clients that their rights may be impaired if they fail to complete a release form within a given period of time. B may be found guilty of
coercion
what is the minimum benefit period that must be offered by a long term care policy
12 months
every 12 months after the initial enrollment period an HMO must hold an open enrollment period of
31 days
a certificate of _________ permits an insurance company to transact business in texas
authority
a medicare supplement policy may be cancelled for which of the following reasons
the premium has not been paid by the insured
