Indiana Life and Health Insurance Final
Exam (xceltestingsolutions)
A beneficiary can only be designated by the
insurer
contract owner
beneficiary
insured - ANScontract owner
A Dread Disease policy is characterized by
low deductibles
limited enrollment
high deductibles
limited benefits - ANSlimited benefits
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 - ANSan
individual who negotiates a viatical settlement contract with a viator
According to Indiana law, controlled business is considered to be 25% of
the Producer's commissions over a 12 month period
the Producer's finder's fees paid over a 12 month period
the number of policies written over a 12 month period
the annual premium collected over a 12 month period by the Producer - ANSthe Producer's
commissions over a 12 month period
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 - ANS30 days
An application submitted to an insurer that includes the initial premium is considered a(n)
solicitation
consideration
offer
accepted offer - ANSoffer
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 - ANS15 days
Dividends are usually paid out by what kind of insurance companies?
Admitted
Mutual
Domestic
Stock - ANSMutual
For individual health policies, insureds who pay monthly premiums are given a Grace Period of
60 days
30 days
10 days
7 days - ANS10 days
Health Savings Accounts (HSAs) typically
have a high deductible
have no deductible
have a low deductible
have unlimited contribution amounts - ANShave a high deductible
How do partial disability benefits differ from total disability benefits?
Partial disability benefits start when the insured returns to work
Partial disability benefits are never taxable
Partial disability benefits start when an insured is unable to work
Partial disability benefits only cover accidental losses - ANSPartial disability benefits start when
the insured returns to work
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 - ANS90 days
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 - ANS20 days
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 - ANS60 days
If a Producer offers something of value as an inducement to a potential customer to purchase a
policy, this Producer may be found guilty of
coercion
Exam (xceltestingsolutions)
A beneficiary can only be designated by the
insurer
contract owner
beneficiary
insured - ANScontract owner
A Dread Disease policy is characterized by
low deductibles
limited enrollment
high deductibles
limited benefits - ANSlimited benefits
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 - ANSan
individual who negotiates a viatical settlement contract with a viator
According to Indiana law, controlled business is considered to be 25% of
the Producer's commissions over a 12 month period
the Producer's finder's fees paid over a 12 month period
the number of policies written over a 12 month period
the annual premium collected over a 12 month period by the Producer - ANSthe Producer's
commissions over a 12 month period
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 - ANS30 days
An application submitted to an insurer that includes the initial premium is considered a(n)
solicitation
consideration
offer
accepted offer - ANSoffer
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 - ANS15 days
Dividends are usually paid out by what kind of insurance companies?
Admitted
Mutual
Domestic
Stock - ANSMutual
For individual health policies, insureds who pay monthly premiums are given a Grace Period of
60 days
30 days
10 days
7 days - ANS10 days
Health Savings Accounts (HSAs) typically
have a high deductible
have no deductible
have a low deductible
have unlimited contribution amounts - ANShave a high deductible
How do partial disability benefits differ from total disability benefits?
Partial disability benefits start when the insured returns to work
Partial disability benefits are never taxable
Partial disability benefits start when an insured is unable to work
Partial disability benefits only cover accidental losses - ANSPartial disability benefits start when
the insured returns to work
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 - ANS90 days
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 - ANS20 days
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 - ANS60 days
If a Producer offers something of value as an inducement to a potential customer to purchase a
policy, this Producer may be found guilty of
coercion
