Question

Marks: True or False:

You may not discuss any products or plan lines of business not agreed to in advance by the beneficiary. Another SOA would need to be obtained if the conversation were to lead to a discussion of another product or line of business (e.g, Prescription Drug Plan [PDP] vs. Medicare Advantage Prescription Drug [MAPD] Plan).

Answer 1

The question is about discussing products or lines of business not agreed to in advance by the beneficiary and the need for another SOA.

Step-by-step explanation:

The subject of this question is Business and the grade level is College.
In the context of a beneficiary and an SOA, the question is discussing a situation related to insurance or financial planning. The question is asking whether it is allowed to discuss products or lines of business that were not agreed to in advance by the beneficiary and whether another SOA is needed for such discussions.

The answer is True. When it comes to insurance or financial planning, it is essential to have clear agreements with the beneficiary about the products and lines of business that will be discussed. If a conversation leads to the discussion of another product or line of business that was not agreed upon in advance, another Statement of Advice (SOA) would need to be obtained.

For example, if the initial conversation is about a Prescription Drug Plan (PDP), but then it leads to discussions about a Medicare Advantage Prescription Drug (MAPD) Plan, a separate SOA would be necessary to cover the new topic.