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Life/disability > numbers and figures > Flashcards

numbers and figures Flashcards

1
Q

Commissioners Maximum fine per violation of the insurance code.

A

$1,000

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2
Q

Civil penalty for transacting insurance without a license?

A

$25,000

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3
Q

Maximum duration of license suspension or Revokation

A

1 year

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4
Q

days for a producer to pay a fine

A

15-30

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5
Q

the time for notifying a producer to suspend, revoe or refuse to renew his license

A

15 days

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6
Q

the time to notify a producer to stop in an emergency

A

3 days

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7
Q

A producers change of any address must be reported withihn _______ days to the comissioner

A

30

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8
Q

Time for an insurer to acklnoikclwge noitice of claim to the claimaint

A

10 days

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9
Q

Time after insurer recieves claiom to complete investigation

A

30 days

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10
Q

max gift

A

$25

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11
Q

Time for a producer to keep transaction records

A

5 years

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12
Q

time for a producer to respond to the comissioner when an inquiry is made?

A

promptly

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13
Q

Coverage limit for L/D under the Gaurantee assn

A

$500,000

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14
Q

Coverage for P/C per claim under the guarantee Assn?

A

$300,000

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15
Q

Free look time for a newly issued policy

A

10 days

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16
Q

free look for examination of a replacement policy

A

20 days

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17
Q

Time the company has to refund a policy holder if he returns policy under free look

A

30 days

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18
Q

max interest rate an insurance company must pay under the Life Settlement Law

A

8%

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19
Q

time an insurer may delay distrobution of cash from a policy

A

6 months

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20
Q

percentage of an employees group life coverage which may be extened to employees spouce

A

50%

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21
Q

minimum number of employees needed for employee group coverage

A

10

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22
Q

minimum # of enrollees for a agent credit union or labor union coverage

A

25

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23
Q

days to convert group coverage to individual after leaving employment

A

31

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24
Q

participation rate requitement on employee contributory groups

A

75%

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25
Q

participation requirement on employee non-contributory groups

A

100%

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26
Q

Examination of insurance companies at least once every ______ years

A

5

27
Q

Time for a producer to request a hearing or to make an appeal

A

90 days

28
Q

time for the comissioner to hold a hearing after one has been requested

A

30days

29
Q

time to pass PLE after certigication is issued

A

one yurr

30
Q

time to get a license after passing the tests

A

180 days

31
Q

term of a producers license? when must he renew?

A

2 yrs on his B-day

32
Q

When do certificates of authority expire for Insurance Companies

A

July 1

33
Q

after ___ from the expiration date of a producers license, all associated appointments and affiliations are terminated

A

60 days

34
Q

How long can you let a license lapse (non-renew) untill you have to start the whole process over?

A

one year

35
Q

Days of 100% hospital coverage under Medicare part A

A

60 days

36
Q

Days a prexisting conditions can be excliuyded under medigap

A

90 days

37
Q

Medigap open enrollment period after enrolling in medicare part B

A

6 months

38
Q

Medicare Suppliment and Long Term Care Insurance Grace Period

A

31 days

39
Q

Medicare Suppliment Free look

A

30 days

40
Q

Long Term Care Free Look if coverage is thru producer?

A

30 days

41
Q

LTC free look if coverage is purchased direct from carrier

A

60 days

42
Q

Maximum time that a pre-existing condition can be excluided from a LTC policy

A

180 days

43
Q

maximum benefit period for a LTC policy

A

1 yr

44
Q

if you sell LTC you have to take ____ hours of traiing

A

8

45
Q

When are newborns covered under health care?

A

At birth

46
Q

violation of WA healthcare claims act

A

Class C Felony

47
Q

a min. of ___ person(s) is needed to form a small group

A

one

48
Q

maximum of _____ persons to form a small group (WA health reform)

A

50

49
Q

free look minimum for disability inurance

A

10 day

50
Q

at least one, but no more than ___ ppl for a “small group”

A

50

51
Q

maximum pre-existing condition can be excluded from individaul health insurance

A

9 months

52
Q

minimum Rx drug coverage under individal healrth ins

A

2000 dollars

53
Q

group plans may not exclude a pre existing condition if youve had coverage within ____ days from the application date for new coverage

A

90

54
Q

Contestabilty period of a policy

A

2 yrs

55
Q

minimum grace period for weekly payment plans

A

7 days

56
Q

min grace period for monthly payment plans

A

10 days

57
Q

min grace period for plans greater than monthly payment

A

31 days

58
Q

notice of claim period for consumer

A

20 days

59
Q

time to send out claim form by insurer

A

15 days

60
Q

time for insured to send in proper proof of loss

A

90 days

61
Q

loss of time or disability income benefits must be paid at least every ____ days

A

30

62
Q

may not sue ins co for non paymnet unless ____ days have passed

A

60

63
Q

statute of limitations for suing an insurance company after filing proof of loss

A

3 yrs

64
Q

youre a

A

PIMP

Life/disability (3 decks)

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