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INDIANA LIFE AND HEALTH INSURANCE EXAM
PART 1 AND PART 2 NEWEST 2024-2025 ACTUAL
EXAM COMPLETE 2 00 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+
INDIANA LIFE AND HEALTH INSURANCE EXAM PART 1
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 premiums cost for basic coverage applied for - ANSWER- The premiums cost for basic coverage applied for
All of these statements are true regarding a child qualifying for coverage under the Indiana children Health Insurance Program, except?
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Must be a resident of Indiana to qualify
Must be 19 years of age to qualify
Family's income level must be greater than 150% of Federal poverty level, but less than 200%
Must have been born in the united States to qualify - ANSWER- Must have been born in the united States to qualify
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific company. What is the bank guilty of?
Coercion Defamation Rebating Misrepresentation - ANSWER- Coercion
Which of these statements regarding health coverage for physically handicapped dependents is false?
The dependent must have been over 10 years of age when the handicap was insured
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The dependent must have been covered under the insureds policy at the time the handicap was insured
The dependent must rely chiefly on the policyowner for support and maintenance
The dependent must agree to periodic medical examinations at the request of the insurance company - ANSWER- The dependent must have been over 10 years of age when the handicap was insured
Life insurance replacement regulation protects the interests of?
The Policyowner The Producer The Insurer The NAIC - ANSWER- The Policyowner
What is the purpose of the Indiana Life and Health Insurance Guaranty Association?
Ensures that claims filled against insolvent insurance companies will be paid
Enforces Indianas insurance regulations
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Approves policy forms
Underwrites high-risk insurance applicants - ANSWER- Ensures that claims filled against insolvent insurance companies will be paid
The _____ must provide an insured with proper disclosure concerning the replacement of a life insurance policy?
Compliance Officer Underwriter Commissioner Producer - ANSWER- Producer
In Indiana, which o the following is considered an Unfair Competition Practice?
Replacement Coercion Aleatory Subrogation - ANSWER- Coercion
The Insurance Commissioner may suspend, revoke, or refuse to renew a producer's license for which of the following reasons?
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