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INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 2) WITH VALID ANSWERS 2024 $12.99   Add to cart

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INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 2) WITH VALID ANSWERS 2024

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INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 2) WITH VALID ANSWERS 2024

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  • August 12, 2024
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  • 2024/2025
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  • INDIANA LIFE AND HEALTH INSURANCE STATE
  • INDIANA LIFE AND HEALTH INSURANCE STATE
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INDIANA LIFE AND HEALTH
INSURANCE STATE EXAM (PART 2)
WITH VALID ANSWERS

An insured pays premiums on an annual basis for an individual health
insurance policy. What is the MINIMUM number of days for the Grace Period
provision? - CORRECT ANSWERS-31


Which of these is NOT considered to be a right given to a policyowner? -
CORRECT ANSWERS-Modify a provision in the insurance contract

M completes an application for life insurance but does not pay the initial
premium. All of these actions must occur before M's policy goes into effect,
EXCEPT: - CORRECT ANSWERS-Free-look period has expired

Which of the following will happen if a licensed resident insurance producer
moves to another state? - CORRECT ANSWERS-Producer's license shall
terminate immediately

What benefit does the payor clause on a juvenile Life policy provide? -
CORRECT ANSWERS-Premiums are waived if the payor becomes disabled

The Affordable Care act (ACA) provides health coverage to dependents up to
the age of: - CORRECT ANSWERS-26

Additional coverage can be added to a Whole Life policy by adding a(n): -
CORRECT ANSWERS-Decreasing term rider

Which of the following phrases refers to the fees charged by a healthcare
professional? - CORRECT ANSWERS-Usual, customary, and reasonable
expenses

What action should a producer take if the initial premium is NOT submitted
with the application? - CORRECT ANSWERS-Forward the application to the
insurer without the initial premium

Which of these types of coverage is best described as a short term medical
policy? - CORRECT ANSWERS-Interim coverage

, How are surrender charges deducted in a life policy with a rear-end loaded
provision? - CORRECT ANSWERS-Deducted when the policy is discontinued

T is an employee covered under a Group Life policy. If T's employment is
terminated, the conversion privilege gives T the right to convert - CORRECT
ANSWERS-To an individual policy upon employment termination

Life insurance coverage will frequently contain an Accelerated Benefits rider
attached to the policy. What would be considered a "qualifying event" under
these riders? - CORRECT ANSWERS-Medical condition resulting in a
significantly-shortened lifespan


Which of these actions does NOT constitute life insurance policy
replacement? - CORRECT ANSWERS-Convert term coverage to a whole life
policy

An agent takes an Individual Disability Income application, collects the
appropriate premium, and issues the prospective insured a conditional
receipt. The next step the insurance company will take is to: - CORRECT
ANSWERS-Determine if the applicant is an acceptable risk by completing
standard underwriting procedures

Variable Life products require a producer to - CORRECT ANSWERS-hold a Life
Insurance license and a Securities license

Which of the following will a Long Term Care Plan typically provide benefits
for? - CORRECT ANSWERS-Home health care

Who has the right to change a revocable beneficiary? - CORRECT ANSWERS-
Policyowner

Which of the following employees may NOT be excluded from a group life
plan? - CORRECT ANSWERS-Full time employees after the probationary
period

The provision in a Group health policy that allows the insurer to postpone
coverage for a covered illness 30 days after the policy's effective date is
referred to as the: - CORRECT ANSWERS-Waiting Period

Which Federal law allows an insurer to obtain an inspection report on a
potential insured? - CORRECT ANSWERS-Fair Credit Reporting Act

ABC Insurance Company fails to pay death proceeds after satisfactory proof
of loss was submitted. ABC must begin paying interest on the death
proceeds after ____ days of receiving proof of loss. - CORRECT ANSWERS-30

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