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2024 INDIANA HEALTH AND LIFE INSURANCE EXAM PRACTICE 3 WITH 100% VALID ANSWERS
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2024 INDIANA HEALTH AND LIFE INSURANCE EXAM PRACTICE 3 WITH 100% VALID ANSWERS
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2024 INDIANA HEALTH AND LIFEINSURANCE EXAM PRACTICE 3
WITH 100% VALID ANSWERS
An underwriter evaluation of information on a life insurance application is
also known as : - CORRECT ANSWERS-risk classification
Which of the following is a contract in which the performance of one or both
parties is contingent upon occurrence of a particular event? - CORRECT
ANSWERS-conditions
Basic cancers plans pay for all of the following EXCEPT: - CORRECT
ANSWERS-physical therapy
In Florida the maximum fixed interest allowed on a policy loan is: - CORRECT
ANSWERS-8%
Upon the death of an insured , a creditor MAY be able to file a claim if the: -
CORRECT ANSWERS-beneficiary is the insured's spouse.
Which statement about conversion privileges in Group Life policies sold is
CORRECT? - CORRECT ANSWERS-An employee usually has up to one year to
convert coverage to an individual.
The Florida insurance rule establishing procedures for agents recommending
changes to existing coverage is the Florida: - CORRECT ANSWERS-
Replacement Rule
What is the name of the organization created in Florida law to improve
access to comprehensive health insurance for Florida's uninsured children? -
CORRECT ANSWERS-Florida children's Health Insurance Plan ( F-CHIP)
Which agent does NOT regulate variable contracts in Florida? - CORRECT
ANSWERS-Department of Business and Professional Regulation
An institution which has responsibility for financial affairs on the property of
others is known as a: - CORRECT ANSWERS-financial institution
, All of the following actions by an agent may be considered
misrepresentations EXCEPT: - CORRECT ANSWERS-illustrating the dividends
on an insurance policy
Agents can help prospective insureds understand and purchase the most
appropriate product by delivering: - CORRECT ANSWERS-a buyer's guide
Florida insurance law requires that if a Medicare Supplement policy is sold,
the agent must deliver an Outline of Coverage to the applicant no later than:
- CORRECT ANSWERS-when the application is taken
If the contract values an existing policy are used to purchase a new policy
with the same insurer, this is known as: - CORRECT ANSWERS-churning
An insurance agent is permitted to replace an existing policy only if the
agent: - CORRECT ANSWERS-replaces a policy that was issued by the agent's
own company
An insurance company formed under the laws of another state is: - CORRECT
ANSWERS-a foreign insurer
Which of the following is an example of sliding? - CORRECT ANSWERS-
Charging for a companion product without the applicant's consent
All licenses are required to notify the Department of Financial Service of a
change in address within how many days? - CORRECT ANSWERS-30
The Entire Contract provision in a health policy protects the insured by: -
CORRECT ANSWERS-defining the documents that are part of an insurance
contract.
What is considered the owner of a mutual insurance company? - CORRECT
ANSWERS-policyholders
Which of the following is required of branch agencies? - CORRECT ANSWERS-
Establish an office in the county where the company is based
Which of the following conditions is typical of a major medical policy -
CORRECT ANSWERS-It contains a deductible and coinsurance
if an insured dies during the grace period and the premium has not been
paid, which scenario would be correct? - CORRECT ANSWERS-The death
benefit will be paid less the premium due
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