Iowa Life and Health insurance Exam with
Questions and Correct Answers 2025
Unfair ,Discrimination ,Example ,- ,CORRECT ,ANSWER-An ,Insurance ,company ,that
,charges ,different ,premiums ,for ,insured's ,in ,the ,same ,risk ,classification
Disability ,Income ,- ,CORRECT ,ANSWER-In ,the ,Event ,of ,An ,illness ,this ,policy ,would
,reimburse ,an ,insured ,for ,loss ,of ,earnings.
Insuring ,Clause ,- ,CORRECT ,ANSWER-the ,clause ,in ,an ,Accident ,and ,Health ,policy
,which ,defines ,the ,benefit ,amounts ,the ,insurer ,will ,pay ,is ,called?
Resident ,Producer ,- ,CORRECT ,ANSWER-Which ,of ,these ,individuals ,would ,require
,continuing ,education?
Under ,an ,Individual ,Health ,Insurance ,Policy ,, ,The ,Time ,Limit ,of ,Certain ,Defenses
,provision ,states ,that ,non ,fraudulent ,misstatements ,first ,become ,incontestable ,for ,two
,years ,- ,CORRECT ,ANSWER-From ,the ,date ,the ,policy ,was ,issued
Accidental ,Death ,and ,Dismemberment ,- ,CORRECT ,ANSWER-Which ,of ,these ,is ,NOT
,a ,required ,group ,life ,provision ,?
8% ,- ,CORRECT ,ANSWER-A ,life ,policy ,loan ,in ,Iowa ,cannot ,charge ,a ,fixed ,rate ,of
,interest ,higher ,than ,?
Submit ,the ,claim ,in ,any ,form ,- ,CORRECT ,ANSWER-what ,should ,an ,insured ,do ,if ,the
,insurer ,does ,not ,send ,claims ,forms ,within ,the ,time ,period ,set ,forth ,in ,a ,health
,policy's ,Claims ,Forms ,provision
S ,recently ,received ,a ,$500,000 ,lump ,sum ,retirement ,buyout ,from ,her ,employer. ,She
,would ,like ,to ,buy ,an ,annuity ,that ,will ,immediately ,furnish ,her ,with ,a ,guaranteed
,income ,for ,life. ,What ,type ,of ,annuity ,is ,best ,suited ,for ,her ,situation? ,- ,CORRECT
,ANSWER-Single ,Premium
S ,buys ,a ,$10,000 ,Whole ,Life ,policy ,in ,2003 ,and ,pays ,an ,annual ,premium ,of ,$100. ,S
,dies ,5 ,years ,later ,in ,2008 ,and ,the ,insurer ,pays ,the ,beneficiary ,$10,500. ,What ,kind ,of
,rider ,did ,S ,include ,on ,the ,policy? ,- ,CORRECT ,ANSWER-Return ,of ,Premium ,Rider
An ,accident ,policy ,will ,most ,likely ,pay ,a ,benefit ,for ,a(n) ,- ,CORRECT ,ANSWER-off-
the-job ,accident
, What ,must ,the ,policyowner ,provide ,to ,the ,insurer ,for ,validation ,that ,a ,loss ,has
,occurred? ,- ,CORRECT ,ANSWER-Proof ,of ,Loss
T ,and ,S ,are ,named ,co-primary ,beneficiaries ,on ,a ,$500,000 ,Accidental ,Death ,and
,Dismemberment ,policy ,insuring ,their ,father. ,Their ,mother ,was ,named ,contingent
,beneficiary. ,Five ,years ,later, ,S ,dies ,of ,natural ,causes ,and ,the ,father ,is ,killed ,in ,a
,scuba ,accident ,shortly ,afterwards. ,How ,much ,of ,the ,death ,benefit ,will ,the ,mother
,receive? ,- ,CORRECT ,ANSWER-$0
(because ,T ,is ,still ,alive)
In ,Iowa, ,Long- ,Term ,Care ,policy ,must ,be ,_______________ ,renewable ,- ,CORRECT
,ANSWER-Guaranteed
During ,an ,insurance ,transaction, ,who ,does ,the ,producer ,represent? ,- ,CORRECT
,ANSWER-Insurer
A ,hearing ,must ,be ,held ,before ,a ,producers ,license ,can ,be ,suspended ,or ,revoked
,.Prior ,to ,hearing ,the ,Commisoner ,is ,required ,to ,- ,CORRECT ,ANSWER-give ,written
,notice ,to ,producer
A ,life ,insurance ,policy ,that ,provides ,a ,policy ,owner ,with ,cash ,value ,along ,with ,level
,face ,amount ,is ,called? ,- ,CORRECT ,ANSWER-Whole ,Life
A ,__________ ,rider ,may ,be ,used ,to ,include ,coverage ,for ,children ,under ,their ,parents
,life ,insurance ,policy ,- ,CORRECT ,ANSWER-Term ,rider
What ,type ,of ,life ,policy ,has ,a ,death ,benefit ,that ,adjust ,periodically ,and ,is ,written ,for ,a
,specific ,period ,of ,time ,- ,CORRECT ,ANSWER-Decreasing ,Term ,Policy
During ,the ,course ,of ,Medicare ,Supplement ,Sale ,,T ,the ,producer ,determines ,there ,is
,an ,existing ,policy ,being ,replaced ,. ,which ,of ,these ,actions ,is ,T ,NOT ,required ,to
,perform? ,- ,CORRECT ,ANSWER-Notify ,the ,replaced ,insurance ,company
Which ,Unfair ,Trade ,Practice ,involves ,an ,agent ,suggesting ,that ,an ,insurance ,policy ,is
,like ,a ,share ,of ,stock?
,*Twisting
,*Intimidation
,*Misrepresentation
,*Sliding ,- ,CORRECT ,ANSWER-Misrepresentation
Nursing ,home ,benefits ,must ,be ,provided ,for ,at ,least ,12 ,consecutive ,months ,in ,which
,of ,the ,following ,types ,of ,policies? ,- ,CORRECT ,ANSWER-Long-Term ,Care
Questions and Correct Answers 2025
Unfair ,Discrimination ,Example ,- ,CORRECT ,ANSWER-An ,Insurance ,company ,that
,charges ,different ,premiums ,for ,insured's ,in ,the ,same ,risk ,classification
Disability ,Income ,- ,CORRECT ,ANSWER-In ,the ,Event ,of ,An ,illness ,this ,policy ,would
,reimburse ,an ,insured ,for ,loss ,of ,earnings.
Insuring ,Clause ,- ,CORRECT ,ANSWER-the ,clause ,in ,an ,Accident ,and ,Health ,policy
,which ,defines ,the ,benefit ,amounts ,the ,insurer ,will ,pay ,is ,called?
Resident ,Producer ,- ,CORRECT ,ANSWER-Which ,of ,these ,individuals ,would ,require
,continuing ,education?
Under ,an ,Individual ,Health ,Insurance ,Policy ,, ,The ,Time ,Limit ,of ,Certain ,Defenses
,provision ,states ,that ,non ,fraudulent ,misstatements ,first ,become ,incontestable ,for ,two
,years ,- ,CORRECT ,ANSWER-From ,the ,date ,the ,policy ,was ,issued
Accidental ,Death ,and ,Dismemberment ,- ,CORRECT ,ANSWER-Which ,of ,these ,is ,NOT
,a ,required ,group ,life ,provision ,?
8% ,- ,CORRECT ,ANSWER-A ,life ,policy ,loan ,in ,Iowa ,cannot ,charge ,a ,fixed ,rate ,of
,interest ,higher ,than ,?
Submit ,the ,claim ,in ,any ,form ,- ,CORRECT ,ANSWER-what ,should ,an ,insured ,do ,if ,the
,insurer ,does ,not ,send ,claims ,forms ,within ,the ,time ,period ,set ,forth ,in ,a ,health
,policy's ,Claims ,Forms ,provision
S ,recently ,received ,a ,$500,000 ,lump ,sum ,retirement ,buyout ,from ,her ,employer. ,She
,would ,like ,to ,buy ,an ,annuity ,that ,will ,immediately ,furnish ,her ,with ,a ,guaranteed
,income ,for ,life. ,What ,type ,of ,annuity ,is ,best ,suited ,for ,her ,situation? ,- ,CORRECT
,ANSWER-Single ,Premium
S ,buys ,a ,$10,000 ,Whole ,Life ,policy ,in ,2003 ,and ,pays ,an ,annual ,premium ,of ,$100. ,S
,dies ,5 ,years ,later ,in ,2008 ,and ,the ,insurer ,pays ,the ,beneficiary ,$10,500. ,What ,kind ,of
,rider ,did ,S ,include ,on ,the ,policy? ,- ,CORRECT ,ANSWER-Return ,of ,Premium ,Rider
An ,accident ,policy ,will ,most ,likely ,pay ,a ,benefit ,for ,a(n) ,- ,CORRECT ,ANSWER-off-
the-job ,accident
, What ,must ,the ,policyowner ,provide ,to ,the ,insurer ,for ,validation ,that ,a ,loss ,has
,occurred? ,- ,CORRECT ,ANSWER-Proof ,of ,Loss
T ,and ,S ,are ,named ,co-primary ,beneficiaries ,on ,a ,$500,000 ,Accidental ,Death ,and
,Dismemberment ,policy ,insuring ,their ,father. ,Their ,mother ,was ,named ,contingent
,beneficiary. ,Five ,years ,later, ,S ,dies ,of ,natural ,causes ,and ,the ,father ,is ,killed ,in ,a
,scuba ,accident ,shortly ,afterwards. ,How ,much ,of ,the ,death ,benefit ,will ,the ,mother
,receive? ,- ,CORRECT ,ANSWER-$0
(because ,T ,is ,still ,alive)
In ,Iowa, ,Long- ,Term ,Care ,policy ,must ,be ,_______________ ,renewable ,- ,CORRECT
,ANSWER-Guaranteed
During ,an ,insurance ,transaction, ,who ,does ,the ,producer ,represent? ,- ,CORRECT
,ANSWER-Insurer
A ,hearing ,must ,be ,held ,before ,a ,producers ,license ,can ,be ,suspended ,or ,revoked
,.Prior ,to ,hearing ,the ,Commisoner ,is ,required ,to ,- ,CORRECT ,ANSWER-give ,written
,notice ,to ,producer
A ,life ,insurance ,policy ,that ,provides ,a ,policy ,owner ,with ,cash ,value ,along ,with ,level
,face ,amount ,is ,called? ,- ,CORRECT ,ANSWER-Whole ,Life
A ,__________ ,rider ,may ,be ,used ,to ,include ,coverage ,for ,children ,under ,their ,parents
,life ,insurance ,policy ,- ,CORRECT ,ANSWER-Term ,rider
What ,type ,of ,life ,policy ,has ,a ,death ,benefit ,that ,adjust ,periodically ,and ,is ,written ,for ,a
,specific ,period ,of ,time ,- ,CORRECT ,ANSWER-Decreasing ,Term ,Policy
During ,the ,course ,of ,Medicare ,Supplement ,Sale ,,T ,the ,producer ,determines ,there ,is
,an ,existing ,policy ,being ,replaced ,. ,which ,of ,these ,actions ,is ,T ,NOT ,required ,to
,perform? ,- ,CORRECT ,ANSWER-Notify ,the ,replaced ,insurance ,company
Which ,Unfair ,Trade ,Practice ,involves ,an ,agent ,suggesting ,that ,an ,insurance ,policy ,is
,like ,a ,share ,of ,stock?
,*Twisting
,*Intimidation
,*Misrepresentation
,*Sliding ,- ,CORRECT ,ANSWER-Misrepresentation
Nursing ,home ,benefits ,must ,be ,provided ,for ,at ,least ,12 ,consecutive ,months ,in ,which
,of ,the ,following ,types ,of ,policies? ,- ,CORRECT ,ANSWER-Long-Term ,Care
