INDIANA LIFE AND HEALTH INSURANCE
EXAM 2025 WITH 530 REAL EXAM
PRACTICE QUESTIONS AND CORRECT
VERIFIED ANSWERS/ INDIANA LIFE &
HEALTH INSURANCE TEST 2025 (NEW!)
Which of the following is a requirement to obtain a nonresident producer license in
Indiana?
Maintain a specific sales quota in resident state
Own real estate in Indiana
Be licensed as a producer in the producer's state of domicile
Pass a special examination for nonresident producers - ANSWER-Be licensed as a
producer in the producer's state of domicile
P is a producer who is licensed in Indiana, but a resident of Michigan. In Indiana ,
P is considered to be a____Producer?
Nonresident
Foreign
Alien
Reciprocal - ANSWER-Nonresident
If an existing Accident and Health policy is being replaced with a new policy, the
decision to replace should not be based on?
Waiting Periods
Commissions to be Paid
Exclusion and Limitations
pg. 1
,Underwriting Requirements - ANSWER-Commissions to be Paid
All of the following must sign an application for health insurance EXCEPT the
a.) The proposed insured
b.) applicant
c.) producer
d.) insurer - ANSWER-d
A domestic insurance company in Indiana must?
Be organized under Indiana insurance laws
Own real estate in Indiana
Write insurance on risks located only in Indiana
Honor the charter of the NAIC - ANSWER-Be organized under Indiana insurance
laws
Which of the following is a requirement to obtain a nonresident producer license in
Indiana?
The producer must be at least 21 years of age
The producer's state of residence must have reciprocity with Indiana
The producer must be bonded in the producer's state of domicile
The producer must pass a special examination for nonresident producers -
ANSWER-The producer's state of residence must have reciprocity with Indiana
A married couple purchase a life insurance policy on their newborn baby. They are
concerned about what would happen to the policy if either one of them were
unable to continue making the premium payments due to death or disability. Which
policy rider would their agent recommend?
pg. 2
,a.) Automatic premium loan
b.) Waiver of premium
c.) Payor benefit
d.) Guaranteed insurability - ANSWER-c
An individual has a $200,000 convertible term life insurance policy. If he chooses
he can
a.) Convert to another term policy w a lower face amount without proof of
insurability.
b.) Purchase an individual annuity for any face amount using the 1035 exchange
privilege.
c.) Purchase another term policy and increase his death benefit without proof of
insurability.
d.) Convert to a whole life policy for the same face amount without proof of
insurability. - ANSWER-d
In whole life insurance, when is the policy cash value scheduled to equal the face
amount?
a.) When the insured paid up all policy loans
b.) It depends on the type of whole life purchased
c.) At the insured's age 100
d.) By the policy's 10th year - ANSWER-c
What happens to the copy of the application for health insurance once the policy is
issued?
a.) It is filed w/ the department of insurance
b.) It is discarded.
c.) It is returned to the insured
pg. 3
, d.) It becomes part of the entire contract - ANSWER-d
Which of the following will NOT be included in the buyers guide?
a.) Explanation on how to choose the amount and type of insurance.
b.) Basic information about life insurance policies.
c.) Specific information about the policy.
d.) Comparison of policy Costs. - ANSWER-c
Which of the following individuals would be a likely candidate to purchase a
deferred annuity?
a.) Someone who wants to leave the death benefit to the beneficiaries
b.) Someone who cannot afford life insurance
c.) Someone who wants to grow retirement funds tax deferred
d.) Someone who needs to start receiving benefit payments within 6 months of the
annuity purchase - ANSWER-c
A husband and wife both incur expenses that are attributed to a single major
medical insurance deductible. Which type of deductible do they have in their
policy.
a.) Flat
b.) Annual
c.) Per occurrence
d.) Family - ANSWER-d
Which of the following is provided by skilled medical personnel to those who need
occasional medical assistance or rehabilitative care?
a.) Intermediate care
pg. 4
EXAM 2025 WITH 530 REAL EXAM
PRACTICE QUESTIONS AND CORRECT
VERIFIED ANSWERS/ INDIANA LIFE &
HEALTH INSURANCE TEST 2025 (NEW!)
Which of the following is a requirement to obtain a nonresident producer license in
Indiana?
Maintain a specific sales quota in resident state
Own real estate in Indiana
Be licensed as a producer in the producer's state of domicile
Pass a special examination for nonresident producers - ANSWER-Be licensed as a
producer in the producer's state of domicile
P is a producer who is licensed in Indiana, but a resident of Michigan. In Indiana ,
P is considered to be a____Producer?
Nonresident
Foreign
Alien
Reciprocal - ANSWER-Nonresident
If an existing Accident and Health policy is being replaced with a new policy, the
decision to replace should not be based on?
Waiting Periods
Commissions to be Paid
Exclusion and Limitations
pg. 1
,Underwriting Requirements - ANSWER-Commissions to be Paid
All of the following must sign an application for health insurance EXCEPT the
a.) The proposed insured
b.) applicant
c.) producer
d.) insurer - ANSWER-d
A domestic insurance company in Indiana must?
Be organized under Indiana insurance laws
Own real estate in Indiana
Write insurance on risks located only in Indiana
Honor the charter of the NAIC - ANSWER-Be organized under Indiana insurance
laws
Which of the following is a requirement to obtain a nonresident producer license in
Indiana?
The producer must be at least 21 years of age
The producer's state of residence must have reciprocity with Indiana
The producer must be bonded in the producer's state of domicile
The producer must pass a special examination for nonresident producers -
ANSWER-The producer's state of residence must have reciprocity with Indiana
A married couple purchase a life insurance policy on their newborn baby. They are
concerned about what would happen to the policy if either one of them were
unable to continue making the premium payments due to death or disability. Which
policy rider would their agent recommend?
pg. 2
,a.) Automatic premium loan
b.) Waiver of premium
c.) Payor benefit
d.) Guaranteed insurability - ANSWER-c
An individual has a $200,000 convertible term life insurance policy. If he chooses
he can
a.) Convert to another term policy w a lower face amount without proof of
insurability.
b.) Purchase an individual annuity for any face amount using the 1035 exchange
privilege.
c.) Purchase another term policy and increase his death benefit without proof of
insurability.
d.) Convert to a whole life policy for the same face amount without proof of
insurability. - ANSWER-d
In whole life insurance, when is the policy cash value scheduled to equal the face
amount?
a.) When the insured paid up all policy loans
b.) It depends on the type of whole life purchased
c.) At the insured's age 100
d.) By the policy's 10th year - ANSWER-c
What happens to the copy of the application for health insurance once the policy is
issued?
a.) It is filed w/ the department of insurance
b.) It is discarded.
c.) It is returned to the insured
pg. 3
, d.) It becomes part of the entire contract - ANSWER-d
Which of the following will NOT be included in the buyers guide?
a.) Explanation on how to choose the amount and type of insurance.
b.) Basic information about life insurance policies.
c.) Specific information about the policy.
d.) Comparison of policy Costs. - ANSWER-c
Which of the following individuals would be a likely candidate to purchase a
deferred annuity?
a.) Someone who wants to leave the death benefit to the beneficiaries
b.) Someone who cannot afford life insurance
c.) Someone who wants to grow retirement funds tax deferred
d.) Someone who needs to start receiving benefit payments within 6 months of the
annuity purchase - ANSWER-c
A husband and wife both incur expenses that are attributed to a single major
medical insurance deductible. Which type of deductible do they have in their
policy.
a.) Flat
b.) Annual
c.) Per occurrence
d.) Family - ANSWER-d
Which of the following is provided by skilled medical personnel to those who need
occasional medical assistance or rehabilitative care?
a.) Intermediate care
pg. 4
