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Iowa Life And Health insurance Exam
Questions and Correct Answers
Unfair Discrimination Example Ans: An Insurance company that
charges different premiums for insured's in the same risk
classification
Disability Income Ans: In the Event of An illness this policy would
reimburse an insured for loss of earnings.
Insuring Clause Ans: the clause in an Accident and Health policy
which defines the benefit amounts the insurer will pay is called?
Resident Producer Ans: Which of these individuals would require
continuing education?
Under an Individual Health Insurance Policy , The Time Limit of
Certain Defenses provision states that nonfraudulent
misstatements first become incontestable for two years Ans: From
the date the policy was issued
Accidental Death and Dismemberment Ans: Which of these is NOT
a required group life provision ?
8% Ans: A life policy loan in Iowa cannot charge a fixed rate of
interest higher than ?
Submit the claim in any form Ans: 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
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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? Ans: 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? Ans: Return of Premium Rider
An accident policy will most likely pay a benefit for a(n) Ans: off-
the-job accident
What must the policyowner provide to the insurer for validation
that a loss has occurred? Ans: 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? Ans: $0
(because T is still alive)
In Iowa, Long- Term Care policy must be _______________ renewable
Ans: Guaranteed
During an insurance transaction, who does the producer
represent? Ans: Insurer
A hearing must be held before a producers license can be
suspended or revoked .Prior to hearing the Commisoner is
required to Ans: give written notice to producer
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A life insurance policy that provides a policy owner with cash
value along with level face amount is called? Ans: Whole Life
A __________ rider may be used to include coverage for children
under their parents life insurance policy Ans: Term rider
What type of life policy has a death benefit that adjust periodically
and is written for a specific period of time Ans: 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? Ans: 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 Ans: Misrepresentation
Nursing home benefits must be provided for at least 12
consecutive months in which of the following types of policies?
Ans: Long-Term Care
© 2025 All rights reserved
Iowa Life And Health insurance Exam
Questions and Correct Answers
Unfair Discrimination Example Ans: An Insurance company that
charges different premiums for insured's in the same risk
classification
Disability Income Ans: In the Event of An illness this policy would
reimburse an insured for loss of earnings.
Insuring Clause Ans: the clause in an Accident and Health policy
which defines the benefit amounts the insurer will pay is called?
Resident Producer Ans: Which of these individuals would require
continuing education?
Under an Individual Health Insurance Policy , The Time Limit of
Certain Defenses provision states that nonfraudulent
misstatements first become incontestable for two years Ans: From
the date the policy was issued
Accidental Death and Dismemberment Ans: Which of these is NOT
a required group life provision ?
8% Ans: A life policy loan in Iowa cannot charge a fixed rate of
interest higher than ?
Submit the claim in any form Ans: 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
© 2025 All rights reserved
, 2 | Page
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? Ans: 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? Ans: Return of Premium Rider
An accident policy will most likely pay a benefit for a(n) Ans: off-
the-job accident
What must the policyowner provide to the insurer for validation
that a loss has occurred? Ans: 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? Ans: $0
(because T is still alive)
In Iowa, Long- Term Care policy must be _______________ renewable
Ans: Guaranteed
During an insurance transaction, who does the producer
represent? Ans: Insurer
A hearing must be held before a producers license can be
suspended or revoked .Prior to hearing the Commisoner is
required to Ans: give written notice to producer
© 2025 All rights reserved
, 3 | Page
A life insurance policy that provides a policy owner with cash
value along with level face amount is called? Ans: Whole Life
A __________ rider may be used to include coverage for children
under their parents life insurance policy Ans: Term rider
What type of life policy has a death benefit that adjust periodically
and is written for a specific period of time Ans: 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? Ans: 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 Ans: Misrepresentation
Nursing home benefits must be provided for at least 12
consecutive months in which of the following types of policies?
Ans: Long-Term Care
© 2025 All rights reserved
