Life And Health Insurance Exam 2025 State of

pg. 1 Life And Health Insurance Exam 2025 State of Indiana with 300 Exam Practice Questions and Correct Verified Answers/ Indiana Life & Health Insurance Test 2025 (New!)

Which of the following statements regarding an insurance producer's license is

CORRECT?

• The license expires every four years and must be renewed.
• The license remains in effect indefinitely, with fees paid annually.
• The license remains in effect until revoked or suspended, with fees paid and

continuing education completed every two years.

• The renewal fees must be paid every year. - ANSWER-c) the license remains in

effect until revoked or suspended, with fees paid and continuing education completed every two years.

For renewals that occur after June 30, 2014, all resident insurance producers licensed with Life, Health, Variable Life & Annuity, and Life, Accident & Health lines of authority must have... - ANSWER-3 hours (of the 24) of continuing education in ethics.

Which of the following statements concerning the Indiana Life and Health Insurance Guaranty Association is NOT correct?

• The purpose of the Indiana Life and Health Insurance Guaranty Association is

to protect Indiana's policyholders if an insurer becomes insolvent or impaired.

• The aggregate liability of the Association is not to exceed $300,000 in total

benefits, including cash values, with respect to any insured individual.

• It's violation of any state's insurance code to use the association's existence as

an endorsement for a particular policy. 1 / 4

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• The Association's authority applies to all life and health insurance and

annuities, including variable contracts. - ANSWER-D) THE ASSOCIATION'S

AUTHORITY APPLIES TO ALL LIFE AND HEALTH INSURANCE AND

ANNUITIES, INCLUDING VARIABLE CONTRACTS.

The Indiana replacement regulations don't apply to all of the following EXCEPT...

• Life insurance for seniors.
• Individual credit life insurance.
• Group life insurance.
• Group credit life insurance. - ANSWER-A) LIFE INSURANCE FOR

SENIORS.

The pre-licensing education requirements for life and health insurance producers in Indiana include... - ANSWER-40 HOURS OF SELF-STUDY OR CLASSROOM

INSTRUCTION.

A Medicare supplement insurer cannot deny claims for losses occurring more than how long after the effective date of coverage because of a preexisting condition? -

ANSWER-6 MONTHS.

What is the MAXIMUM fine assessed against producers who are found guilty of engaging in unfair marketing practices? - ANSWER-$25,000 PER VIOLATION,

OR $50,000 IF THE PERSON KNEW OR SHOULD HAVE KNOWN THAT

THE ACT WAS ILLEGAL.

For how many days must a replacing insurer allow the applicant to review the policy, during which time the policy may be returned for a full premium refund? -

ANSWER-20 DAYS.

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pg. 3 In Indiana, an insurance producer's license normally is subject to renewal every... -

ANSWER-24 MONTHS.

Newborns are covered on group health insurance policies from birth. How long after birth does the insured have to notify the insurer of the child's birth and pay the first premium? - ANSWER-31 DAYS.

In Indiana, all life insurance policies must contain a provision limiting the interest rate on policy loans to a maximum of... - ANSWER-8% PER YEAR.

A producer may write controlled business insurance as long as it does NOT exceed what percentage of commissions earned in a 12-month period? - ANSWER-25%.

With few exceptions, annuity contracts must provide that the purchaser may return the contract for a full refund within... - ANSWER-10 DAYS.

All of the following actions by an insurance producer are prohibited by Indiana's insurance law EXCEPT?

• Giving an applicant any special advantage in dating the application.
• Returning one month of a premium payment to a new applicant or policyowner.
• Sharing up to 10% the producer's commission with a policyowner.
• Pay bonuses fairly to all nonparticipating policyholders out of surplus. -

ANSWER-D) PAY BONUSES FAIRLY TO ALL NONPARTICIPATING

POLICYHOLDERS OUT OF SURPLUS.

All of the following statements about group life insurance are correct EXCEPT...

• Proceeds are exempt from the claims of creditors.
• Any life insurance company may issue group life insurance. 3 / 4

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• Retroactive rate adjustments are prohibited.
• A group life insurance plan may not cover dependents or spouses. - ANSWER-

D) A GROUP LIFE INSURANCE PLAN MAY NOT COVER DEPEND ENTS

OR SPOUSES.

All of the following statements about a temporary license are correct EXCEPT...

• The Indiana Insurance Commissioner can issue a temporary license to any

person when it will be in the public's best interest.

• It's valid for 180 days.
• It will be issued only after a person passes a special licensing examination.
• It can be issued to help a person (such as a spouse or estate administrator) wind

down the affairs of a producer who has died. - ANSWER-C) IT WILL BE

ISSUED ONLY AFTER A PERSON PASSES A SPECIAL LICENSING

EXAMINATION.

A nonresident license holder in Indiana must notify the Commissioner if they move to another address or state within how many days? - ANSWER-30.

A viatical settlements provider is also known as... - ANSWER-A LIVING

BENEFITS PROVIDER.

Which of the following statements regarding the examination of records is NOT correct?

• The Commissioner has the right to examine the records of an insurer whenever

he feels.

• The Commissioner must examine the affairs of an insurer doing business in

Indiana at least once every five years.

• The Commissioner must exam the records foreign and alien insurers at least

once every year.

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