Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
18 Cards in this Set
- Front
- Back
|
What does the medal levels mean in the marketplace plans? |
Metal levels pay different amounts of the total costs. Bronze lowest platinum highest |
|
|
What benefits are provided for pregnant women under sickness and accident insurance? |
The same benefits as for any other similar sickness or disease otherwise covered under the policy |
|
|
What are mandated benefits in Colorado? |
Coverage for newborns diabetes and low dose mammography |
|
|
What is the producers duty when replacement is involved? |
List polices sold to the applicant that are still in force and list any polices sold to the applicant within the past 5 years. |
|
|
What is the insurers duty when replacement is involved? |
The insurer must furnish the applicant a notice regarding replacement of accident and sickness insurance |
|
|
What are the standards for medicare supplement insurance policy provisions in colorado? |
One standard is no Medicare supplement insurance policy ,contract, or certificate in force in will contain benefits that duplicate benefits by medicare. |
|
|
What information must be included in a outline of coverage for long term care insurance? |
A description of the principal benifits, and a statement of principal exclusions ,reductions, and limitations are two elements. |
|
|
Regarding commission disclosures what must the insurance producer give the consumer? |
The standard compensation schedule for the product being sold |
|
|
What are the broad powers and duties of the commissioner of insurance? |
Regulate the affairs of the division of insurance ,prescribe forms and procedures , aid in interpretation of laws, issue ,renew, or suspend and revoke licenses and certificates of authority |
|
|
How is the commissioner of insurance selected for office? |
Appointed by governor |
|
|
What is the purpose of a cease and desist order? |
To require a person to stop engaging in improper business actions or committing violations |
|
|
Upon what grounds can the commissioner revoke or suspend a producers license? |
Providing incorrect information on the application, obtaining a license through misrepresentation or fraud, improperly withholding any monies or properties, or engaging in unfair trade practices |
|
|
Who is exempt from the licensing requirement in this state? |
Officers directors or employees of an insurer or if an insurance producer who does not receive commission on polices written or sold |
|
|
What are the continuing education requirements? |
Complete 24 hours of continuing education every two years. 3 in ethics 18 in producer line of authority |
|
|
What conditions would it be illegal to receive compensation for insurance? |
If they have no license |
|
|
Within what time limit must producer's turn in collected premiums for insurance? |
45 days of receipt and 30 days for returned premiums |
|
|
What is rebating? |
Includes premiums payable on the policy , special favors or services |
|
|
Controlled business? |
Own life family or co workers |
