Indiana State Life and Health Insurance Exam
g g g g g g
180g-gANS-
Howgmanygdaysgisgagtemporarygproducersglicensegvalid?g30
60
90
180
$25,000g-gANS-
IngIndiana,gthegmaximumgfinegthegthegcommissionergcangimposegongagproducergorgcompanygwh
ogviolatesgagceasegandgdesistgordergis pergviolation?
$10,000
$15,000
$20,000
$25,000
Agproducergmisrepresentsgagpolicygtoginducegagpolicyownergtogsurrendergangexistinggpolic
yg-gANS-Whichgofgthesegisgangexamplegofgtwisting?
Agproducergmaliciouslygalignsganotherginsurancegcompany'sgfinancialgstatus
Agproducergmisrepresentsgagpolicygtoginducegagpolicyownergtogsurrendergangexistinggpoli
cygAgproducergreducesgthegcommissiongingordergtogsellgagpolicy
Agproducerginducesgagpolicyownergwithgsomethinggofgvaluegtogpurchasegagpolicy
Beglicensedgasgagproducergingthegproducer'sgstategofgdomicileg-gANS-
WhichgofgthegfollowinggisgagrequirementgtogobtaingagnonresidentgproducerglicensegingIndiana?
MaintaingagspecificgsalesgquotagingresidentgstategO
wngrealgestategingIndiana
Beglicensedgasgagproducergingthegproducer'sgstategofgdomicileg
Passgagspecialgexaminationgforgnonresidentgproducers
Nonresidentg-gANS-
PgisgagproducergwhogisglicensedgingIndiana,gbutgagresidentgofgMichigan.gIngIndianag,gPgisgco
nsideredgtogbega Producer?
,Nonresident
gForeigngAli
engReciproc
al
CommissionsgtogbegPaidg-gANS-
IfgangexistinggAccidentgandgHealthgpolicygisgbeinggreplacedgwithgagnewgpolicy,gthegdecisiongtogr
eplacegshouldgnotgbegbasedgon?
WaitinggPeriodsgCommissi
onsgtogbegPaidgExclusiong
andgLimitationsgUnderwriti
nggRequirements
BegorganizedgundergIndianaginsuranceglawsg-gANS-
AgdomesticginsurancegcompanygingIndianagmust?
BegorganizedgundergIndianaginsuranceglaw
sgOwngrealgestategingIndiana
WriteginsurancegongrisksglocatedgonlygingIndianagH
onorgthegchartergofgthegNAIC
Thegproducer'sgstategofgresidencegmustghavegreciprocitygwithgIndianag-gANS-
WhichgofgthegfollowinggisgagrequirementgtogobtaingagnonresidentgproducerglicensegingIndiana?
Thegproducergmustgbegatgleastg21gyearsgofgage
Thegproducer'sgstategofgresidencegmustghavegreciprocitygwithgIndian
agThegproducergmustgbegbondedgingthegproducer'sgstategofgdomicile
Thegproducergmustgpassgagspecialgexaminationgforgnonresidentgproducers
Agtransactiongingwhichgagnewgpolicygisgboughtgandgangoldgpolicygisgterminatedg-gANS-
WhatgisgIndianasgdefinitiongofgLifeginsurancegreplacement?
Agtransactiongingwhichgcoveragegongangexistinggpolicygisgincreased
Agtransactiongingwhichggroupglifegcoveragegisgconvertedgtogangindividualgpolic
ygAgtransactiongingwhichgagnewgpolicygisgboughtgandgangoldgpolicygisgtermina
ted
,Agtransactiongingwhichgagpolicyownergreinstatesgaglapsedgpolicy
Onlygifgthegchildgisgincapablegofgemploymentgandgchieflygdependentgongthegpolicyownerg-
gANS-
Upongreachinggtheglimitinggage,gaghandicappedgchildgcangextendgtheirghealthginsurancegco
veragegasgagdependent?
Onlygifgthegchildgisgincapablegofgemploymentgandgchieflygdependentgongthegpolicyowner
gForgupgtogangadditionalg10gyearsgonly
OnlygphysicallygdisabledgO
nlygifgmentallygdisabled
Producergrepresentsgmoregthangoneginsurancegcompanyg-gANS-
Whichgofgthegfollowinggisgnotgagvalidgreasongforgtheginsurancegcommissionergtogsuspendgorgrev
okegagproducersglicense?
ProducergreturnsgpartgofgagcommissiongtogclientgingexchangegforgagsalegProd
ucergrepresentsgmoregthangoneginsurancegcompany
Producergengagesgingfalsegadvertising
Producergcomminglesgpremiumsgcollectedgwithgagpersonalgaccount
Isgfoundgguiltygofgmisrepresentationgingobtaininggtheglicenseg-gANS-
Agproducersglicensegmaygbegdenied,gsuspended,gorgrevokedgifgtheglicensee?
Engagesgingreplacementgofgangexistinggpolicy
IsgfoundgguiltygofgmisrepresentationgingobtaininggtheglicensegFil
esgforgbankruptcy
Doesgnotgmeetgagsalesgquota
InsurancegCompanyg-gANS-
Duringgthegcoursegofganginsurancegbusinessgtransaction,gwhogdoesgthegproducerglegallygrepres
ent?
Producer
gInsured
InsurancegCompany
gBeneficiary
, Returninggagportiongofgagpremiumgasginducementgtogpurchaseginsuranceg-gANS-
Angexamplegofgrebatinggwouldgbe?
ReturninggagportiongofgagpremiumgasginducementgtogpurchaseginsurancegRed
ucinggthegpremiumgacrossgthegboardgforgagspecificgriskgclass
Agmutualginsurancegcompanygpayinggdividendsgtogitsgpolicyowners
Usinggintimidationgingordergtogrestraingorgmonopolizegthegbusinessgofginsurance
Groupgmustgbegformedgforgagpurposegothergthangobtainingginsuranceg-gANS-
WhichgofgthegfollowinggisgagrequirementgtogbegeligiblegforgaggroupglifegpolicygingIndiana?
Groupgmustgbegformedgforgagpurposegothergthangobtainingginsuranc
egGroupgmustgdesignategonegofgitsgmembersgtogbegthegnamedgins
uredgGroupgmustghavegbeengformedgforgobtainingginsurance
Groupgmustgincludegatgleastgfivegemployers
AgpotentialgApplicantgmustgbegtoldgthatgLifeginsurancegisgthegexclusivegsubjectgofgthegsal
eg-gANS-
WhatgisgrequiredgforgagProducergtogbegingcompliancegwithgRuleg13,gLifegInsurancegAdve
rtising?
AgpotentialgApplicantgmustgbegtoldgthegthegProducergisgcurrentlyglicensedgforganygLifegInsurance
gtransaction
AgpotentialgApplicantgmustgbegtoldgthatgLifeginsurancegisgthegexclusivegsubjectgofgthegs
alegAgProducergisgrequiredgtognotifygpotentialgApplicantsgthatgdividendsgaregguaranteed
AgProducergisgrequiredgtoghavegallgsalesgmaterialsgapprovedgbygthegcommissioner
Thegpremiumsgcostgforgbasicgcoveragegappliedgforg-gANS-
Whengaglifeginsurancegapplicationgisgcompleted,gagPolicygSummarygmustgbeggivengtogthegapplic
ant.gThegPolicygSummarygmustginclude?
TheginsurersgAMgBestgrating
gThegProducersgaddressgCa
shgvaluegrate
g g g g g g
180g-gANS-
Howgmanygdaysgisgagtemporarygproducersglicensegvalid?g30
60
90
180
$25,000g-gANS-
IngIndiana,gthegmaximumgfinegthegthegcommissionergcangimposegongagproducergorgcompanygwh
ogviolatesgagceasegandgdesistgordergis pergviolation?
$10,000
$15,000
$20,000
$25,000
Agproducergmisrepresentsgagpolicygtoginducegagpolicyownergtogsurrendergangexistinggpolic
yg-gANS-Whichgofgthesegisgangexamplegofgtwisting?
Agproducergmaliciouslygalignsganotherginsurancegcompany'sgfinancialgstatus
Agproducergmisrepresentsgagpolicygtoginducegagpolicyownergtogsurrendergangexistinggpoli
cygAgproducergreducesgthegcommissiongingordergtogsellgagpolicy
Agproducerginducesgagpolicyownergwithgsomethinggofgvaluegtogpurchasegagpolicy
Beglicensedgasgagproducergingthegproducer'sgstategofgdomicileg-gANS-
WhichgofgthegfollowinggisgagrequirementgtogobtaingagnonresidentgproducerglicensegingIndiana?
MaintaingagspecificgsalesgquotagingresidentgstategO
wngrealgestategingIndiana
Beglicensedgasgagproducergingthegproducer'sgstategofgdomicileg
Passgagspecialgexaminationgforgnonresidentgproducers
Nonresidentg-gANS-
PgisgagproducergwhogisglicensedgingIndiana,gbutgagresidentgofgMichigan.gIngIndianag,gPgisgco
nsideredgtogbega Producer?
,Nonresident
gForeigngAli
engReciproc
al
CommissionsgtogbegPaidg-gANS-
IfgangexistinggAccidentgandgHealthgpolicygisgbeinggreplacedgwithgagnewgpolicy,gthegdecisiongtogr
eplacegshouldgnotgbegbasedgon?
WaitinggPeriodsgCommissi
onsgtogbegPaidgExclusiong
andgLimitationsgUnderwriti
nggRequirements
BegorganizedgundergIndianaginsuranceglawsg-gANS-
AgdomesticginsurancegcompanygingIndianagmust?
BegorganizedgundergIndianaginsuranceglaw
sgOwngrealgestategingIndiana
WriteginsurancegongrisksglocatedgonlygingIndianagH
onorgthegchartergofgthegNAIC
Thegproducer'sgstategofgresidencegmustghavegreciprocitygwithgIndianag-gANS-
WhichgofgthegfollowinggisgagrequirementgtogobtaingagnonresidentgproducerglicensegingIndiana?
Thegproducergmustgbegatgleastg21gyearsgofgage
Thegproducer'sgstategofgresidencegmustghavegreciprocitygwithgIndian
agThegproducergmustgbegbondedgingthegproducer'sgstategofgdomicile
Thegproducergmustgpassgagspecialgexaminationgforgnonresidentgproducers
Agtransactiongingwhichgagnewgpolicygisgboughtgandgangoldgpolicygisgterminatedg-gANS-
WhatgisgIndianasgdefinitiongofgLifeginsurancegreplacement?
Agtransactiongingwhichgcoveragegongangexistinggpolicygisgincreased
Agtransactiongingwhichggroupglifegcoveragegisgconvertedgtogangindividualgpolic
ygAgtransactiongingwhichgagnewgpolicygisgboughtgandgangoldgpolicygisgtermina
ted
,Agtransactiongingwhichgagpolicyownergreinstatesgaglapsedgpolicy
Onlygifgthegchildgisgincapablegofgemploymentgandgchieflygdependentgongthegpolicyownerg-
gANS-
Upongreachinggtheglimitinggage,gaghandicappedgchildgcangextendgtheirghealthginsurancegco
veragegasgagdependent?
Onlygifgthegchildgisgincapablegofgemploymentgandgchieflygdependentgongthegpolicyowner
gForgupgtogangadditionalg10gyearsgonly
OnlygphysicallygdisabledgO
nlygifgmentallygdisabled
Producergrepresentsgmoregthangoneginsurancegcompanyg-gANS-
Whichgofgthegfollowinggisgnotgagvalidgreasongforgtheginsurancegcommissionergtogsuspendgorgrev
okegagproducersglicense?
ProducergreturnsgpartgofgagcommissiongtogclientgingexchangegforgagsalegProd
ucergrepresentsgmoregthangoneginsurancegcompany
Producergengagesgingfalsegadvertising
Producergcomminglesgpremiumsgcollectedgwithgagpersonalgaccount
Isgfoundgguiltygofgmisrepresentationgingobtaininggtheglicenseg-gANS-
Agproducersglicensegmaygbegdenied,gsuspended,gorgrevokedgifgtheglicensee?
Engagesgingreplacementgofgangexistinggpolicy
IsgfoundgguiltygofgmisrepresentationgingobtaininggtheglicensegFil
esgforgbankruptcy
Doesgnotgmeetgagsalesgquota
InsurancegCompanyg-gANS-
Duringgthegcoursegofganginsurancegbusinessgtransaction,gwhogdoesgthegproducerglegallygrepres
ent?
Producer
gInsured
InsurancegCompany
gBeneficiary
, Returninggagportiongofgagpremiumgasginducementgtogpurchaseginsuranceg-gANS-
Angexamplegofgrebatinggwouldgbe?
ReturninggagportiongofgagpremiumgasginducementgtogpurchaseginsurancegRed
ucinggthegpremiumgacrossgthegboardgforgagspecificgriskgclass
Agmutualginsurancegcompanygpayinggdividendsgtogitsgpolicyowners
Usinggintimidationgingordergtogrestraingorgmonopolizegthegbusinessgofginsurance
Groupgmustgbegformedgforgagpurposegothergthangobtainingginsuranceg-gANS-
WhichgofgthegfollowinggisgagrequirementgtogbegeligiblegforgaggroupglifegpolicygingIndiana?
Groupgmustgbegformedgforgagpurposegothergthangobtainingginsuranc
egGroupgmustgdesignategonegofgitsgmembersgtogbegthegnamedgins
uredgGroupgmustghavegbeengformedgforgobtainingginsurance
Groupgmustgincludegatgleastgfivegemployers
AgpotentialgApplicantgmustgbegtoldgthatgLifeginsurancegisgthegexclusivegsubjectgofgthegsal
eg-gANS-
WhatgisgrequiredgforgagProducergtogbegingcompliancegwithgRuleg13,gLifegInsurancegAdve
rtising?
AgpotentialgApplicantgmustgbegtoldgthegthegProducergisgcurrentlyglicensedgforganygLifegInsurance
gtransaction
AgpotentialgApplicantgmustgbegtoldgthatgLifeginsurancegisgthegexclusivegsubjectgofgthegs
alegAgProducergisgrequiredgtognotifygpotentialgApplicantsgthatgdividendsgaregguaranteed
AgProducergisgrequiredgtoghavegallgsalesgmaterialsgapprovedgbygthegcommissioner
Thegpremiumsgcostgforgbasicgcoveragegappliedgforg-gANS-
Whengaglifeginsurancegapplicationgisgcompleted,gagPolicygSummarygmustgbeggivengtogthegapplic
ant.gThegPolicygSummarygmustginclude?
TheginsurersgAMgBestgrating
gThegProducersgaddressgCa
shgvaluegrate
