100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Indiana State Life and Health Insurance Exam Questions And Answers Rated A+ New Update Assured Satisfaction $7.99   Add to cart

Exam (elaborations)

Indiana State Life and Health Insurance Exam Questions And Answers Rated A+ New Update Assured Satisfaction

 0 view  0 purchase
  • Course
  • State Life and Health Insurance
  • Institution
  • State Life And Health Insurance

Indiana State Life and Health Insurance Exam Questions And Answers Rated A+ New Update Assured Satisfaction

Preview 4 out of 45  pages

  • September 10, 2024
  • 45
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • State Life and Health Insurance
  • State Life and Health Insurance
avatar-seller
Hkane
Indiana State Life and Health Insurance Exam
180 - ANS-How many days is a temporary producers license valid?

30
60
90
180

$25,000 - ANS-In Indiana, the maximum fine the the commissioner can impose on a producer or
company who violates a cease and desist order is___per violation?

$10,000
$15,000
$20,000
$25,000

A producer misrepresents a policy to induce a policyowner to surrender an existing policy -
ANS-Which of these is an example of twisting?

A producer maliciously aligns another insurance company's financial status

A producer misrepresents a policy to induce a policyowner to surrender an existing policy

A producer reduces the commission in order to sell a policy

A producer induces a policyowner with something of value to purchase a policy

Be licensed as a producer in the producer's state of domicile - ANS-Which of the following is a
requirement to obtain a nonresident producer license in Indiana?

Maintain a specific sales quota in resident state

Own real estate in Indiana

Be licensed as a producer in the producer's state of domicile

Pass a special examination for nonresident producers

Nonresident - ANS-P is a producer who is licensed in Indiana, but a resident of Michigan. In
Indiana , P is considered to be a____Producer?

,Nonresident
Foreign
Alien
Reciprocal

Commissions to be Paid - ANS-If an existing Accident and Health policy is being replaced with a
new policy, the decision to replace should not be based on?

Waiting Periods
Commissions to be Paid
Exclusion and Limitations
Underwriting Requirements

Be organized under Indiana insurance laws - ANS-A domestic insurance company in Indiana
must?

Be organized under Indiana insurance laws

Own real estate in Indiana

Write insurance on risks located only in Indiana

Honor the charter of the NAIC

The producer's state of residence must have reciprocity with Indiana - ANS-Which of the
following is a requirement to obtain a nonresident producer license in Indiana?

The producer must be at least 21 years of age

The producer's state of residence must have reciprocity with Indiana

The producer must be bonded in the producer's state of domicile

The producer must pass a special examination for nonresident producers

A transaction in which a new policy is bought and an old policy is terminated - ANS-What is
Indianas definition of Life insurance replacement?

A transaction in which coverage on an existing policy is increased

A transaction in which group life coverage is converted to an individual policy

A transaction in which a new policy is bought and an old policy is terminated

,A transaction in which a policyowner reinstates a lapsed policy

Only if the child is incapable of employment and chiefly dependent on the policyowner -
ANS-Upon reaching the limiting age, a handicapped child can extend their health insurance
coverage as a dependent?

Only if the child is incapable of employment and chiefly dependent on the policyowner

For up to an additional 10 years only

Only physically disabled

Only if mentally disabled

Producer represents more than one insurance company - ANS-Which of the following is not a
valid reason for the insurance commissioner to suspend or revoke a producers license?

Producer returns part of a commission to client in exchange for a sale

Producer represents more than one insurance company

Producer engages in false advertising

Producer commingles premiums collected with a personal account

Is found guilty of misrepresentation in obtaining the license - ANS-A producers license may be
denied, suspended, or revoked if the licensee?

Engages in replacement of an existing policy

Is found guilty of misrepresentation in obtaining the license

Files for bankruptcy

Does not meet a sales quota

Insurance Company - ANS-During the course of an insurance business transaction, who does
the producer legally represent?

Producer
Insured
Insurance Company
Beneficiary

, Returning a portion of a premium as inducement to purchase insurance - ANS-An example of
rebating would be?

Returning a portion of a premium as inducement to purchase insurance

Reducing the premium across the board for a specific risk class

A mutual insurance company paying dividends to its policyowners

Using intimidation in order to restrain or monopolize the business of insurance

Group must be formed for a purpose other than obtaining insurance - ANS-Which of the
following is a requirement to be eligible for a group life policy in Indiana?

Group must be formed for a purpose other than obtaining insurance

Group must designate one of its members to be the named insured

Group must have been formed for obtaining insurance

Group must include at least five employers

A potential Applicant must be told that Life insurance is the exclusive subject of the sale -
ANS-What is required for a Producer to be in compliance with Rule 13, Life Insurance
Advertising?

A potential Applicant must be told the the Producer is currently licensed for any Life Insurance
transaction

A potential Applicant must be told that Life insurance is the exclusive subject of the sale

A Producer is required to notify potential Applicants that dividends are guaranteed

A Producer is required to have all sales materials approved by the commissioner

The premiums cost for basic coverage applied for - ANS-When a life insurance application is
completed, a Policy Summary must be given to the applicant. The Policy Summary must
include?

The insurers AM Best rating

The Producers address

Cash value rate

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Hkane. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

85169 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.99
  • (0)
  Add to cart