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Indiana State Life & Health Exam Questions & Answers.
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Indiana State Life & Health Exam Questions & Answers.
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Indiana State Life & Health Exam Questions& Answers
Individual disability income policies typical include an elimination period (t/f) - answer-
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True
A producer's license may be denied, suspended, or revoked if the licensee: - answer-is
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found guilty of misrepresentation in obtaining the license
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Which of the following actions is NOT possible with a Universal Life policy? - answer-
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premiums may be applied as a credit against income tax
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How long is the typical free look period for long term care insurance policies? - answer-
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20 days b
Equity indexed annuities are invested in: - answer-The S&P 500
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Group life policies in Indiana are required to contain a conversion privilege that allows
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for conversion: - answer-to an individual policy for a stated period of time
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What is a key requirement for accelerated death benefit policy? - answer-Must have a
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terminal illness to qualify
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Qualified LTC policies may take into consideration an applicant's pre-existing conditions
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for a maximum of not more than _____ month(s) prior to the effective date of coverage
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- answer-6
b b
An insured must qualify for social security disability income to be accepted for the
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waiver of premium provision? (t/f) - answer-false
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What type of annuity has a cash value that based upon the performance of it's
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underlying investment funs? - answer-Variable
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What requires insurers to disclose when an applicant's consumer or credit history is
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being investigated? - answer-1970 - Fair Credit Reporting Act
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Under the ACA, consumers must have health insurance as of January 1, 2014 that
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contains Minimum Essential Coverage (MEC). Individuals who exempt from this law
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include: - answer-Those who cannot afford or have religious objections
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, A person who is insured within a group contract will be given a: - answer-certificate
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When must insurable interest exist for a life insurance contract to be valid? - answer-
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Inception of the contract b b b
What kind of special need would a policy owner require with an adjustable life insurance
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policy? - answer-Flexible premiums
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Which of the following actions by a producer would NOT result in a license suspension
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or revocation? - answer-Producer represents a foreign insurance company
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Which of the following is NOT a required provision in group life policies? - answer-Right
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to Loan
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What the maximum Social Security Disability benefit amount an insured can receive? -
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answer-100% of the insured's Primary Insurance Amount (PIA)
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T has an annuity that guarantees an income payment for the rest of his life. The
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contract also guarantees that if T dies before receiving payments for 20 years, the
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remaining payments will be paid to his son for the balance of the 20 years. What type of
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annuity is this? - answer-Life Annuity with Period Certain
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Which of these provisions is NOT required in individual life insurance policies sold in
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Indiana? - answer-Extended Term
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What is the name of the law that requires insurers to disclose information gathering
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practices and where the information was obtained? - answer-Fair Credit Reporting Act
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Q is severely injured in an automobile accident and becomes totally disabled. How
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many months must Q be disabled before being able to apply for Social Security
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disability benefits? - answer-5
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Who elects the governing body of a mutual insurance company? - answer-Policyholders
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Which of the following policies combines investment choices with a form of Term
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coverage? - answer-Variable-Universal Life
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Medicare Part B does NOT cover: - answer-Physician and surgeon services
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Which provision allows the policy owner to change a term life policy to a permanent one
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without providing proof of good health? - answer-Conversion
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P and Q are married and have three children. P is the primary beneficiary on Q's
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Accidental Death and Dismemberment (AD&D) policy and Q's sister R is the contingent
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