Indiana Life, Accident, & Health Insurance Law
D) THE COMMISSIONER WRITES INSURANCE LAWS. - ANS-Which one of the following
statements regarding insurance laws and regulations is NOT correct?
A) The Commissioner overseas the insurance business to ensure it's conducted in accordance
with state law and the best interests of the public.
B) The Commissioner writes rules and regulations to enforce insurance laws.
C) The state legislature enacts insurance laws.
D) The Commissioner writes insurance laws.
A) LONG-TERM CARE POLICIES MUST INCLUDE A 30-DAY REINSTATEMENT PRIVILEGE
FOR POLICIES THAT HAVE LAPSED BECAUSE OF NONPAYMENT OF THE PREMIUM. -
ANS-All of the following statements concerning long-term care policies that are advertised or
solicited in Indiana are correct EXCEPT...
A) Long-term care policies must include a 30-day reinstatement privilege for policies that have
lapsed because of nonpayment of the premium.
B) The policy must express maximum benefit amounts as dollars and not as days of care.
C) Long-term care policies don't have to pay benefits in excess of the actual charges.
D) The owner must be able to reduce coverage at least once during the policy's lifetime.
A) ALLISON WAS CITED FOR HAVING AN OPEN ALCOHOL CONTAINER IN HER VEHICLE
AND CONVICTED OF A MISDEMEANOR. - ANS-Which one of the following individuals would
be safe from having their license suspended, revoked, or denied by the Commissioner?
A) Allison was cited for having an open alcohol container in her vehicle and convicted of a
misdemeanor.
B) Jeremy violated just one of the Indiana insurance laws.
C) Angela submitted a fraudulent license application.
D) Timothy failed to pay court-ordered child support.
, D) SHAWN WORKS 32 HOURS A WEEK IN 3 DAYS. - ANS-Which of the following individuals
would be eligible for health insurance from their small employer?
A) Will works in the office to cover the vacation days of the administrative assistant.
B) Amy works full time while she is on summer break from college.
C) Jill accepted a temporary position for 6 months.
D) Shawn works 32 hours a week in 3 days.
C) BE AT LEAST 21 YEARS OLD. - ANS-To obtain a license to sell insurance in Indiana, an
individual must comply with all of the following licensing requirements EXCEPT...
A) Pass the licensing exam.
B) Possess a good business reputation.
C) Be at least 21 years old.
D) Satisfy the stateâ™️s prelicensing education requirements.
A) A PROVISION THAT THE POLICY MAY BE REINSTATED WITHIN 10 YEARS FROM THE
DUE DATE OF THE PREMIUM IN DEFAULT IF THE POLICYOWNER PROVIDES
SATISFACTORY EVIDENCE OF INSURABILITY AND PAYS PAST-DUE PREMIUMS PLUS
INTEREST. - ANS-Individual life insurance policies in Indiana must include all of the following
EXCEPT...
A) A provision that the policy may be reinstated within 10 years from the due date of the
premium in default if the policyowner provides satisfactory evidence of insurability and pays
past-due premiums plus interest.
B) A payment of claims provision stating that all claims are to be payable within 2 months of
proof of loss.
C) A provision stating the premiums are allowed to be paid in advance.
D) A provision that, in the absence of fraud, all statements made by an insured in the application
are considered to be representations, not warranties.
B) THEY MUST OBTAIN WRITTEN STATEMENTS FROM EACH APPLICANT STATING THAT
THE APPLICANT DOESN'T HAVE ANY OTHER TYPE OF LONG-TERM CARE INSURANCE. -
ANS-All of the following statements about long-term care insurance providers are correct
EXCEPT...
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