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2024 INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 3) WITH VALID ANSWERS
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2024 INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 3) WITH VALID ANSWERS
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2024 INDIANA LIFE AND HEALTHINSURANCE STATE EXAM (PART 3)
WITH VALID ANSWERS
If a retiree on Medicare required five hospital stays in one year, which policy
would provide the best insurance for excess hospital expenses? - CORRECT
ANSWERS-Medicare supplement
When an insurance application is taken by a producer, which of these
statements is true? - CORRECT ANSWERS-Any changes made on the
application require the applicant's initials
Credit life insurance is typically issued with which of the following types of
coverage? - CORRECT ANSWERS-Decreasing Term
The Insurance Commissioner is authorized: - CORRECT ANSWERS-To enforce
state laws relating to insurance
Which of the following is a requirement to be eligible for a group life policy in
Indiana? - CORRECT ANSWERS-Group must be formed for a purpose other
than obtaining Insurance
Under a trustee group life policy, who would be eligible for a certificate of
coverage? - CORRECT ANSWERS-Employee
the part of a life insurance policy guaranteed to be true is called a(n): -
CORRECT ANSWERS-Warranty
A life insurance application may be rejected on the basis of all of these
EXCEPT: - CORRECT ANSWERS-Gender
All of these are considered sources of underwriting information about an
applicant EXCEPT - CORRECT ANSWERS-Rating Services
P received Disability income benefits for 3 months then returns to work. She
is able to work one month before her condition returns, leaving her disabled
once again. What would the insurance company most likely regard this
second period of disability as? - CORRECT ANSWERS-A recurrent disability
, What group term life feature permits an individual to depart from the group
and continue to be covered without providing evidence of insurability? -
CORRECT ANSWERS-Conversion
When an employee is required to pay a portion of the premium for an
employer/employee group health plan, the employee is covered under which
of the following plans? - CORRECT ANSWERS-Contributory
What would be an accurate definition of "controlled business"? - CORRECT
ANSWERS-Insurance business that is written on the producer's own life,
property, or interests
Which of the following BEST describes a Hospital Indemnity policy? -
CORRECT ANSWERS-Coverage that pays a stated amount per day of a
covered hospitalization
Which of the following actions does the Insurance Commissioner NOT have
the power to conduct? - CORRECT ANSWERS-Activate insurance companies'
financial reserves
Long term Care policies will usually pay for eligible benefits using which of
the following methods? - CORRECT ANSWERS-Expense incurred
Which of the following is the reimbursement of benefits for the treatment of
a beneficiary's injuries caused by a third party? - CORRECT ANSWERS-
Subrogation
Which Unfair Competition Practice involves a producer suggesting that an
insurance policy is like a share of stock? - CORRECT ANSWERS-
Misrepresentation
An individual who purchases a life annuity is given protection against: -
CORRECT ANSWERS-The risk of living longer than expected
Premature IRA distributions are assessed a penalty tax of - CORRECT
ANSWERS-10%
Which of these describe a participating insurance policy? - CORRECT
ANSWERS-Policyowners are entitled to receive dividends
A policy loan is made possible by which of these life insurance policy
features? - CORRECT ANSWERS-Cash value provision
a 66 year old is covered under a group health plan while employed with a
business that has 40employees. If she injures herself while walking in the
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