Exam (elaborations)
INDIANA LIFE AND HEALTH RULES AND REGULATIONS EXAM.
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INDIANA LIFE AND HEALTH RULES AND REGULATIONS EXAM.
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INDIANA LIFE AND HEALTH RULESAND REGULATIONS EXAM
Insurance nCommissioner n- nanswer-• nAppointment nby nGovernor n
• nMember nof nNAIC
Insurance ncommissioner nDuties n- nanswer-responsible nfor noverseeing nthe nDepartment
nof nInsurance, nwhich nregulates ninsurance ncompanies noperating nin nIndiana. nworks nto
npromote nimprovements nto ninsurance nlaws nand nthe nenforcement nof nsaid nlaws nin
nIndiana.[
Certificate nof nAuthority n- nanswer-Licensed ncompanies nreceive na
n_______________________________ nto nconduct nthe nbusiness nof ninsurance nor
noperate nas na nhealth nmaintenance norganization nin nthe nState nof nIndiana.
Admitted ncompany n- nanswer-insurance ncompany nis none nthat nis n"admitted" nby na
nparticular nstate nto ndo nbusiness nas nan ninsurance ncompany. ninsurance ncompany nmust
nconform nto nthe nregulations nof na nparticular nstate's nDepartment nof nInsurance. nIn naddition
nto nmeeting nminimum nregulations nfor nadmission, nadmitted ncarriers nmust nalso nfile ntheir
nrates nwith nthe nstate, nwhich nthe nstate nmust napprove. nOne nof nthe nbenefits nof nworking
nwith nan nadmitted ncarrier nis nthat nthe nstate nhas nthe nresponsibility nto npay nan ninsurer's
nclaims, nup nto nstate-specified nlimits, nin nthe nevent nof nthe ncompany's ninsolvency.
Non nAdmitted nInsurance nCompany n- nanswer-insurance ncompany nithat ndoesn't noperate
nunder nan nindividual nstate's ninsurance nlaws. nAs na nresult, na nnon-admitted ninsurance
ncompany ndoesn't nenjoy nthe nbenefit nof nhaving nits nclaims nresolved nin nthe nevent nof na
nbankruptcy.
Domestic nInsurance nCompany n- nanswer-insurer nis none nformed nunder nthe nlaws nof nthis
nstate;
Foreign nInsurance nCompany n- nanswer-An ninsurer nfrom nany nstate nother nthan nindiana
Alien nInsurance ncompany n- nanswer-is none nformed nunder nthe nlaws nof nany ncountry nother
nthan na nstate nof nthe nUnited nStates.
Frequency nof nFiscal nexaminations n- nanswer-
Waiving nexaminations nfor nforeign nand nalien ncompanies n- nanswer-
, Resident nProducer n- nanswer-Lives nin nthe nstate nin nwhich nbusiness nis nconducted
non nresident nproducer n- nanswer-lives nin na ndifferent nstate nthan nwhere nbusiness nis
nconducted n(No npre-licensing nstudy ncourse nor nexamination nis nrequired. nA nnon-resident
nlicense nwill ngrant nthe nsame nscope nof nauthority nas ngranted nby nthe nproducer's nhome
nstate.)
temporary nproducer n- nanswer-under ncertain ncircumstances nIDOI nmay nissue na
ntemporary ninsurance nproducer nlicense nfor nnot nmore nthan n180 ndays nif ndeemed
nnecessary nfor nthe nservicing nof nan ninsurance nbusiness nin nthe nbest ninterests nof nthe
npublic.
Consultant n- nanswer-are nsales nagents nwhose nmain njob nis nto nprovide ninformation nto
npeople nabout nvarious ninsurance nplan noptions. nThey nprovide nconsultations, ndiscuss
nfees nand nset nup ninsurance ncontracts nwith ncustomers
Limited nLines nproducer n- nanswer-"Limited nline ncredit ninsurance nproducer" nmeans na
nperson nwho nsells, nsolicits nor nnegotiates none nor nmore nforms nof nlimited nline ncredit
ninsurance ncoverage nto nindividuals nthrough na nmaster, ncorporate, ngroup nor nindividual
npolicy. no
nFlight
o nBaggage
o nTitle
o nCredit
o nFuneral nDirectors
who nmay nact nas na nproducer nwithout na nlicense? n- nanswer-Chartered nLife nUnderwriter
n(CLU)
Certified nFinancial nPlanner n(CFP)
Chartered nFinancial nConsultant n(CFC)
Chartered nProperty nand nCasualty nUnderwriter n(CPCU)
Certified nInsurance nCounselor n(CIC)
Accredited nAdvisor nin nInsurance n(AAI)
A nBachelor's nDegree nin nInsurance
Producer nQualifications nand nthe nlicensing nprocess n- nanswer-Be nat nleast n18 nyears nof
nage
Maintain nprincipal nplace nof nresidence nor nprincipal nplace nof nbusiness nin nIndiana
Successfully ncomplete na npre-licensing neducation nprogram n(when nrequired) nand nan
nexamination n(when nrequired)
Not nhave ncommitted nany nact nthat nis na nground nfor ndenial, nsuspension nor nrevocation nof na
nlicense
Submit nthe nappropriate nforms, napplication, nand nnonrefundable nfees nfor nthe ndesired
nlicense.
In
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