e!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
only.pdfFinal
Final exam exam
- Indiana
- Indiana
lifelife
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!################################
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Final exam - Indiana life only
"The insurance company" A policy of adhesion is best described as a policy which only the
insurance company can modify - ANS-A policy of adhesion can only be modified by whom?
$50,000 minus any outstanding policy loans - ANS-P purchases a $50,000 term life insurance
policy in 2005. One of the questions on the application ask if P engages in scuba diving, to
which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up
scuba diving and dies in a scuba-related accident in 2011. What will the insurer pay to P's
beneficiary?
180 days - ANS-How many days is a temporary producers license valid ?
1945 - ANS-What year was the Mccarran-Ferguson act enacted ?
2 years - ANS-A newly licensed producer must complete 24 hours of continuing education every
__ years
24 hours - ANS-A producer must complete ____ hours of continuation education biennially to
maintain the license
25% - ANS-In Indiana, what is the maximum percentage of controlled business a producer may
write in a twelve-month period?
30 days - ANS-A producer must notify the Commissioner within _____ days of a felony
conviction.
31 days - ANS-In the event of employment termination a person covered by a group policy also
has the right to convert such coverage to an individual policy within ___ days without proving
insurability
59 1/2 - ANS-An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age?
6 months - ANS-A life insurance policy can be backdated before the application date for up to
8% - ANS-A life policy loan in Indiana cannot charge a fixed rate of interest higher than
A minimum guaranteed Death benefit is provided - ANS-Which statement is true regarding a
variable whole life policy ?
dfFinal
!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam
Final exam- Indiana
- Indiana
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
exam - Indiana
,e!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
only.pdfFinal
Final exam exam
- Indiana
- Indiana
lifelife
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!################################
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
A payor benefit rider provides for waiver of premium if the adult-payor of the policy dies or
becomes totally disabled. - ANS-Which life insurance rider typically appears on a Juvenile life
insurance policy?
A Policy Summary and Buyer's Guide - ANS-In Indiana , which of the following must be
delivered to a policy owner upon the sale of an individual life insurance policy?
A producer misrepresents a policy to induce a policyowner to surrender an existing policy -
ANS-Which of these is an example of twisting ?
A Reduced Paid-Up option would provide continuing cash value build-up. - ANS-Which of these
Nonforfeiture Options continue a build-up of cash value?
A transaction in which a new policy is bought and an old policy is terminated - ANS-What is
Indiana definition of a life insurance replacement ?
AIDS and HIV virus exams can be conducted in a discriminatory fashion - ANS-All are true
statements regarding the underwriting process, EXCEPT:
Alien - ANS-An ___ insurance company is one formed in a country other than the United States
alien - ANS-What type of insurance company is domiciled in England , but conducts business in
Indiana
an insured - ANS-An insurer is NOT required to provide information on fraudulent claims if
requested by
Any changes made on the application require the applicant's initials - ANS-When an insurance
application is taken by a producer, which of these statements is true?
at future dates specified in the contract with no evidence of insurability required - ANS-When
does a Guaranteed Insurability Rider allow the insured to buy additional coverage?
Be incorporated and formed in Indiana - ANS-A domestic Insurance company in Indiana must
Be organized under Indiana insurance laws - ANS-A domestic insurance company in Indiana
must :
both an insurance and securities product - ANS-Variable Whole Life Insurance can be described
as
cash values are determined by interest rates - ANS-Under an interest sensitive whole life policy
dfFinal
!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam
Final exam- Indiana
- Indiana
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
exam - Indiana
only.pdfFinal
Final exam exam
- Indiana
- Indiana
lifelife
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!################################
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Final exam - Indiana life only
"The insurance company" A policy of adhesion is best described as a policy which only the
insurance company can modify - ANS-A policy of adhesion can only be modified by whom?
$50,000 minus any outstanding policy loans - ANS-P purchases a $50,000 term life insurance
policy in 2005. One of the questions on the application ask if P engages in scuba diving, to
which P answers "No". The policy is then issued with no scuba exclusions. In 2010, P takes up
scuba diving and dies in a scuba-related accident in 2011. What will the insurer pay to P's
beneficiary?
180 days - ANS-How many days is a temporary producers license valid ?
1945 - ANS-What year was the Mccarran-Ferguson act enacted ?
2 years - ANS-A newly licensed producer must complete 24 hours of continuing education every
__ years
24 hours - ANS-A producer must complete ____ hours of continuation education biennially to
maintain the license
25% - ANS-In Indiana, what is the maximum percentage of controlled business a producer may
write in a twelve-month period?
30 days - ANS-A producer must notify the Commissioner within _____ days of a felony
conviction.
31 days - ANS-In the event of employment termination a person covered by a group policy also
has the right to convert such coverage to an individual policy within ___ days without proving
insurability
59 1/2 - ANS-An IRA owner can start making withdrawals and NOT be subjected to a tax
penalty beginning at what age?
6 months - ANS-A life insurance policy can be backdated before the application date for up to
8% - ANS-A life policy loan in Indiana cannot charge a fixed rate of interest higher than
A minimum guaranteed Death benefit is provided - ANS-Which statement is true regarding a
variable whole life policy ?
dfFinal
!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam
Final exam- Indiana
- Indiana
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
exam - Indiana
,e!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
only.pdfFinal
Final exam exam
- Indiana
- Indiana
lifelife
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!################################
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
A payor benefit rider provides for waiver of premium if the adult-payor of the policy dies or
becomes totally disabled. - ANS-Which life insurance rider typically appears on a Juvenile life
insurance policy?
A Policy Summary and Buyer's Guide - ANS-In Indiana , which of the following must be
delivered to a policy owner upon the sale of an individual life insurance policy?
A producer misrepresents a policy to induce a policyowner to surrender an existing policy -
ANS-Which of these is an example of twisting ?
A Reduced Paid-Up option would provide continuing cash value build-up. - ANS-Which of these
Nonforfeiture Options continue a build-up of cash value?
A transaction in which a new policy is bought and an old policy is terminated - ANS-What is
Indiana definition of a life insurance replacement ?
AIDS and HIV virus exams can be conducted in a discriminatory fashion - ANS-All are true
statements regarding the underwriting process, EXCEPT:
Alien - ANS-An ___ insurance company is one formed in a country other than the United States
alien - ANS-What type of insurance company is domiciled in England , but conducts business in
Indiana
an insured - ANS-An insurer is NOT required to provide information on fraudulent claims if
requested by
Any changes made on the application require the applicant's initials - ANS-When an insurance
application is taken by a producer, which of these statements is true?
at future dates specified in the contract with no evidence of insurability required - ANS-When
does a Guaranteed Insurability Rider allow the insured to buy additional coverage?
Be incorporated and formed in Indiana - ANS-A domestic Insurance company in Indiana must
Be organized under Indiana insurance laws - ANS-A domestic insurance company in Indiana
must :
both an insurance and securities product - ANS-Variable Whole Life Insurance can be described
as
cash values are determined by interest rates - ANS-Under an interest sensitive whole life policy
dfFinal
!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam
Final exam- Indiana
- Indiana
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!######################################
life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!#######################Final
exam - Indiana life only.pdfFinal exam - Indiana life only.pdf!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
exam - Indiana
