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Indiana State Life and Health Insurance Exam with 100% Verified Questions and Answers/ Grade A+/ Latest Update 2024

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Indiana State Life and Health Insurance Exam with 100% Verified Questions and Answers/ Grade A+/ Latest Update 2024

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  • July 14, 2024
  • 66
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • Indiana life insurance
  • Indiana life insurance

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Indiana State Life and Health Insurance
Exam Latest Update 2024

How many days is a temporary producers license valid?



30

60

90

180 - correct answer ✔✔180



In Indiana, the maximum fine the the commissioner can impose on a producer or company who violates
a cease and desist order is___per violation?



$10,000

$15,000

$20,000

$25,000 - correct answer ✔✔$25,000



Which of these is an example of twisting?



A producer maliciously aligns another insurance company's financial status



A producer misrepresents a policy to induce a policyowner to surrender an existing policy



A producer reduces the commission in order to sell a policy




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,A producer induces a policyowner with something of value to purchase a policy - correct answer ✔✔A
producer misrepresents a policy to induce a policyowner to surrender an existing policy



Which of the following is a requirement to obtain a nonresident producer license in Indiana?



Maintain a specific sales quota in resident state



Own real estate in Indiana



Be licensed as a producer in the producer's state of domicile



Pass a special examination for nonresident producers - correct answer ✔✔Be licensed as a producer in
the producer's state of domicile



P is a producer who is licensed in Indiana, but a resident of Michigan. In Indiana , P is considered to be
a____Producer?



Nonresident

Foreign

Alien

Reciprocal - correct answer ✔✔Nonresident



If an existing Accident and Health policy is being replaced with a new policy, the decision to replace
should not be based on?



Waiting Periods

Commissions to be Paid

Exclusion and Limitations

Underwriting Requirements - correct answer ✔✔Commissions to be Paid


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,A domestic insurance company in Indiana must?



Be organized under Indiana insurance laws



Own real estate in Indiana



Write insurance on risks located only in Indiana



Honor the charter of the NAIC - correct answer ✔✔Be organized under Indiana insurance laws



Which of the following is a requirement to obtain a nonresident producer license in Indiana?



The producer must be at least 21 years of age



The producer's state of residence must have reciprocity with Indiana



The producer must be bonded in the producer's state of domicile



The producer must pass a special examination for nonresident producers - correct answer ✔✔The
producer's state of residence must have reciprocity with Indiana



What is Indianas definition of Life insurance replacement?



A transaction in which coverage on an existing policy is increased



A transaction in which group life coverage is converted to an individual policy




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, A transaction in which a new policy is bought and an old policy is terminated



A transaction in which a policyowner reinstates a lapsed policy - correct answer ✔✔A transaction in
which a new policy is bought and an old policy is terminated



Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a
dependent?



Only if the child is incapable of employment and chiefly dependent on the policyowner



For up to an additional 10 years only



Only physically disabled



Only if mentally disabled - correct answer ✔✔Only if the child is incapable of employment and chiefly
dependent on the policyowner



Which of the following is not a valid reason for the insurance commissioner to suspend or revoke a
producers license?



Producer returns part of a commission to client in exchange for a sale



Producer represents more than one insurance company



Producer engages in false advertising



Producer commingles premiums collected with a personal account - correct answer ✔✔Producer
represents more than one insurance company



A producers license may be denied, suspended, or revoked if the licensee?
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