Indiana Life and Health Insurance Final Exam (xceltestingsolutions) Questions & Answers Correctly Answered.

hich of these is NOT considered to be a violation of the Unfair Competition Law in Indiana? monopolize or restrain trade making unsubstantiated criticisms about an insurance company pay insurance commissions to an unlicensed individual paying a finder's fee to an individual who provides a sales lead - Answer-paying a finder's fee to an individual who provides a sales lead A viatical settlement agent, according to the Indiana Department of Insurance, is an individual who finances a viatical settlement contract an individual who regulates the statute compliance of a viatical settlement contract an individual who negotiates a viatical settlement contract with a viator an individual who purchases a life insurance contract from a terminally ill person - Answer-an individual who negotiates a viatical settlement contract with a viator How many days must an insured notify the insurer of a claim under the Notice of Claim provision? 10 days 20 days 30 days 45 days - Answer-20 days What is required for a business entity to be licensed in Indiana as a Producer? Get special approval from the Commissioner A licensed Consultant must be designated as responsible for compliance A licensed Producer must be designated as responsible for compliance Only Producers may work for the business entity - Answer-A licensed Producer must be designated as responsible for compliance Which of the following is a requirement for a risk to be considered insurable? CatastrophicSpeculative Chance of both a loss and gain Predictability of loss - Answer-Predictability of loss An insurance company has how many days to deliver claim forms to an insured after the insured gives Notice of Claim? 10 days 15 days 20 days 30 days - Answer-15 day