Indiana Life and Health Insurance Final Exam
(xceltestingsolutions)
$2,800
$1,000 + (.20 X $9,000) = $2,800 - ANS-Noel is a Major Medical policyowner who files a claim
for $10,000 of covered expenses. Her policy has the following limitations: 80/20 coinsurance,
$1,000 deductible, $25,000 Stop-Loss clause, and a $3,000,000 lifetime benefit limit. What
amount will Noel pay for this claim?
$1,000
$2,000
$2,800
$3,000
$50,000 fine - ANS-Repeatedly violating laws related to the Indiana Unfair Competition Law
could result in a(n)
prison sentence
$50,000 fine
$25,000 fine
increase in required reserves for the Insurance Company
10 - ANS-Unfair Claim Settlement complaints submitted to the Insurance Commissioner will
result in a notification of the violation to the Insurance Company within ___ days.
10
15
20
30
10 days - ANS-For individual health policies, insureds who pay monthly premiums are given a
Grace Period of
60 days
30 days
10 days
7 days
15 days - ANS-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
, 15 hours of additional education after they receive their license - ANS-Indiana's Long Term Care
Partnership Program requires a Producer to have
15 hours of additional education after they receive their license
passed a separate exam devoted specifically to Long Term Care insurance
a $30,000 bond
20 hours of additional education after they receive their license
20 days - ANS-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
30 days - ANS-According to Indiana law, how long is the right of return for a Long Term Care
policy?
10 days
15 days
30 days
45 days
5 months - ANS-The waiting period for Social Security disability is
4 months
5 months
6 months
12 months
60 days - ANS-If a Disability Income policy includes a 30-day elimination period, how long will
the insurance company pay benefits if the insured is injured and unable to work for 90 days?
60 days
30 days
120 days
0 days
90 days - ANS-How many days from the date of loss must an Individual Health Insurance
policyowner file Proof of Loss after receiving claim forms from the insurer?
10 days
30 days
60 days
90 days
A licensed Producer must be designated as responsible for compliance - ANS-What is required
for a business entity to be licensed in Indiana as a Producer?
Get special approval from the Commissioner
(xceltestingsolutions)
$2,800
$1,000 + (.20 X $9,000) = $2,800 - ANS-Noel is a Major Medical policyowner who files a claim
for $10,000 of covered expenses. Her policy has the following limitations: 80/20 coinsurance,
$1,000 deductible, $25,000 Stop-Loss clause, and a $3,000,000 lifetime benefit limit. What
amount will Noel pay for this claim?
$1,000
$2,000
$2,800
$3,000
$50,000 fine - ANS-Repeatedly violating laws related to the Indiana Unfair Competition Law
could result in a(n)
prison sentence
$50,000 fine
$25,000 fine
increase in required reserves for the Insurance Company
10 - ANS-Unfair Claim Settlement complaints submitted to the Insurance Commissioner will
result in a notification of the violation to the Insurance Company within ___ days.
10
15
20
30
10 days - ANS-For individual health policies, insureds who pay monthly premiums are given a
Grace Period of
60 days
30 days
10 days
7 days
15 days - ANS-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
, 15 hours of additional education after they receive their license - ANS-Indiana's Long Term Care
Partnership Program requires a Producer to have
15 hours of additional education after they receive their license
passed a separate exam devoted specifically to Long Term Care insurance
a $30,000 bond
20 hours of additional education after they receive their license
20 days - ANS-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
30 days - ANS-According to Indiana law, how long is the right of return for a Long Term Care
policy?
10 days
15 days
30 days
45 days
5 months - ANS-The waiting period for Social Security disability is
4 months
5 months
6 months
12 months
60 days - ANS-If a Disability Income policy includes a 30-day elimination period, how long will
the insurance company pay benefits if the insured is injured and unable to work for 90 days?
60 days
30 days
120 days
0 days
90 days - ANS-How many days from the date of loss must an Individual Health Insurance
policyowner file Proof of Loss after receiving claim forms from the insurer?
10 days
30 days
60 days
90 days
A licensed Producer must be designated as responsible for compliance - ANS-What is required
for a business entity to be licensed in Indiana as a Producer?
Get special approval from the Commissioner
