How many days is a temporary producers license valid?
v v v v v v v v
30
60
90
180 - correct answer ✔✔180
v v v v
In Indiana, the maximum fine the the commissioner can impose on a producer or company who violates
v v v v v v v v v v v v v v v v
va cease and desist order is___per violation?
v v v v v v
$10,000
$15,000
$20,000
$25,000 - correct answer ✔✔$25,000
v v v v
Which of these is an example of twisting?
v v v v v v v
A producer maliciously aligns another insurance company's financial status
v v v v v v v v
A producer misrepresents a policy to induce a policyowner to surrender an existing policy
v v v v v v v v v v v v v
A producer reduces the commission in order to sell a policy
v v v v v v v v v v
A producer induces a policyowner with something of value to purchase a policy - correct answer ✔✔A
v v v v v v v v v v v v v v v v
producer misrepresents a policy to induce a policyowner to surrender an existing policy
v v v v v v v v v v v v v
,Which of the following is a requirement to obtain a nonresident producer license in Indiana?
v v v v v v v v v v v v v v
Maintain a specific sales quota in resident state
v v v v v v v
Own real estate in Indiana
v v v v
Be licensed as a producer in the producer's state of domicile
v v v v v v v v v v
Pass a special examination for nonresident producers - correct answer ✔✔Be licensed as a producer in
v v v v v v v v v v v v v v v
the producer's state of domicile
v v v v v
P is a producer who is licensed in Indiana, but a resident of Michigan. In Indiana , P is considered to be
v v v v v v v v v v v v v v v v v v v v v
a____Producer?
v
Nonresident
Foreign
Alien
Reciprocal - correct answer ✔✔Nonresident
v v v v
If an existing Accident and Health policy is being replaced with a new policy, the decision to replace
v v v v v v v v v v v v v v v v v
vshould not be based on? v v v v
Waiting Periods v
Commissions to be Paid v v v
Exclusion and Limitations v v
Underwriting Requirements - correct answer ✔✔Commissions to be Paid
v v v v v v v v
A domestic insurance company in Indiana must?
v v v v v v
,Be organized under Indiana insurance laws
v v v v v
Own real estate in Indiana
v v v v
Write insurance on risks located only in Indiana
v v v v v v v
Honor the charter of the NAIC - correct answer ✔✔Be organized under Indiana insurance laws
v v v v v v v v v v v v v v
Which of the following is a requirement to obtain a nonresident producer license in Indiana?
v v v v v v v v v v v v v v
The producer must be at least 21 years of age
v v v v v v v v v
The producer's state of residence must have reciprocity with Indiana
v v v v v v v v v
The producer must be bonded in the producer's state of domicile
v v v v v v v v v v
The producer must pass a special examination for nonresident producers - correct answer ✔✔The
v v v v v v v v v v v v v
producer's state of residence must have reciprocity with Indiana
v v v v v v v v v
What is Indianas definition of Life insurance replacement?
v v v v v v v
A transaction in which coverage on an existing policy is increased
v v v v v v v v v v
A transaction in which group life coverage is converted to an individual policy
v v v v v v v v v v v v
A transaction in which a new policy is bought and an old policy is terminated
v v v v v v v v v v v v v v
A transaction in which a policyowner reinstates a lapsed policy - correct answer ✔✔A transaction in
v v v v v v v v v v v v v v v
which a new policy is bought and an old policy is terminated
v v v v v v v v v v v v
, Upon reaching the limiting age, a handicapped child can extend their health insurance coverage as a
v v v v v v v v v v v v v v v
dependent?
v
Only if the child is incapable of employment and chiefly dependent on the policyowner
v v v v v v v v v v v v v
For up to an additional 10 years only
v v v v v v v
Only physically disabled
v v
Only if mentally disabled - correct answer ✔✔Only if the child is incapable of employment and chiefly
v v v v v v v v v v v v v v v v
dependent on the policyowner
v v v v
Which of the following is not a valid reason for the insurance commissioner to suspend or revoke a
v v v v v v v v v v v v v v v v v
producers license?
v v v
Producer returns part of a commission to client in exchange for a sale
v v v v v v v v v v v v
Producer represents more than one insurance company
v v v v v v
Producer engages in false advertising
v v v v
Producer commingles premiums collected with a personal account - correct answer ✔✔Producer
v v v v v v v v v v v
represents more than one insurance company
v v v v v v
A producers license may be denied, suspended, or revoked if the licensee?
v v v v v v v v v v v
Engages in replacement of an existing policy
v v v v v v
Is found guilty of misrepresentation in obtaining the license
v v v v v v v v
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