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Indiana Life & Health Insurance Exam Review Latest Updated.
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Indiana Life & Health Insurance Exam Review Latest Updated.
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Indiana Life & Health Insurance ExamReview Latest Updated
An individual applies for a life policy. Two years ago he suffered a head injury from an
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accident, so he cannot remember parts of his past, but is otherwise competent. He has
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also been hospitalized for drug abuse, but does not remember this when applying for
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insurance. The insurer issues the policy and learn of his history one year later. What
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will probably happen?
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a) The policy will be voided
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b) The insurer will sue the insured for committing fraud
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c) Because the insured is currently not a drug user, his policy will not be affected
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d) The policy will not be affected - answer-d) The policy will not be affected
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A new insurance company wants to begin conducting insurance in Indiana. What will it
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need to receive before it can legally open for business? - answer-Certificate of Authority
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How many days after a final disposition must an insurance producer report
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administrative action or criminal prosecution to the Director? - answer-30 days
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An insured pays $1,200 annually for her life insurance premium. The insured applies
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this year's $300 worth of accumulated dividends to the next year's premium, thus
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reducing it to $900. What option does this describe? - answer-Reduction of Premium
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Certain conditions, such as dismemberment or total and permanent blindness, will
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automatically qualify the insured for full disability benefits. Which disability policy
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provision does this describe? - answer-Presumptive disability
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Which of the following does the Insuring Clause NOT specify?
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a) The insurance company
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b) The name of the insured
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c) A list of available doctors
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d) Covered perils - answer-c) A list of available doctors
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How long is an open enrollment period for Medicare supplement policies? - answer-6
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months
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What is the maximum period that an insurer would pay benefits in accordance with an
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Additional Monthly Benefit rider? - answer-1 year
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, In which of the following locations would skilled care most likely be provided? - answer-
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In an institutional setting
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When transacting business in this state an insurer formed under the laws of another
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country is known as an: - answer-Alien insurer
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Which of the following is NOT an enrollment period for Medicare Part A applicants?
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a) Special enrollment
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b) General enrollment
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c) Automatic enrollment
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d) Initial enrollment - answer-Automatic enrollment
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Which type of life insurance policy generates immediate cash value? - answer-Single
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premium
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What characteristics must an annuity have if it is used to accumulate funds in an IRA? -
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answer-Tax-qualified
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All of the following are unfair claims settlement practices EXCEPT:
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a) Suggesting negotiations in settling the claim
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b) Refusing to pay claims without conducting a reasonable investigation
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c) Failing to adopt and implement reasonable standards for settling claims
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d) Failing to acknowledge pertinent communication pertaining to a claim - answer-a)
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Suggesting negotiations in settling the claim
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Why do group health providers usually require a certain amount of participation in the
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plan by eligible employees? - answer-To guard against adverse selection and reduce
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cost
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If an insurer becomes insolvent, which of the following would pay benefits to
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npolicyholders? - answer-The Guaranty Association n n n n
A long-term care insurance shopper's guide must be provided in the format developed
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by which of the following?
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a) Director
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b) Medical Information Bureau
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c) NAIC n
d) Office of Insurance Regulation - answer-c) NAIC
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Which of the following best describes the MIB? - answer-It is a nonprofit organization
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that maintains underwriting information on applicants for life and health insurance.
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