Indiana Life and Health Insurance Full Exam with Guaranteed Accurate Answers

Which 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 - correct 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 - correct 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 - correct 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 - correct 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? Catastrophic Speculative