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INDIANA LIFE AND HEALTH RULES AND
REGULATIONS Exam Questions With Correct
Answers 100% Verified.
Insurance Commissioner - Answer✔• Appointment by Governor
• Member of NAIC
Insurance commissioner Duties - Answer✔responsible for overseeing the Department of
Insurance, which regulates insurance companies operating in Indiana. works to promote
improvements to insurance laws and the enforcement of said laws in Indiana.[
Certificate of Authority - Answer✔Licensed companies receive a
_______________________________ to conduct the business of insurance or operate as a
health maintenance organization in the State of Indiana.
Admitted company - Answer✔insurance company is one that is "admitted" by a particular state
to do business as an insurance company. insurance company must conform to the regulations
of a particular state's Department of Insurance. In addition to meeting minimum regulations for
admission, admitted carriers must also file their rates with the state, which the state must
approve. One of the benefits of working with an admitted carrier is that the state has the
responsibility to pay an insurer's claims, up to state-specified limits, in the event of the
company's insolvency.
Non Admitted Insurance Company - Answer✔insurance company ithat doesn't operate under
an individual state's insurance laws. As a result, a non-admitted insurance company doesn't
enjoy the benefit of having its claims resolved in the event of a bankruptcy.
Domestic Insurance Company - Answer✔insurer is one formed under the laws of this state;
Foreign Insurance Company - Answer✔An insurer from any state other than indiana
Alien Insurance company - Answer✔is one formed under the laws of any country other than a
state of the United States.
1
, ©THESTAR 2024/2025 ALL RIGHTS RESERVED 9:50PM. A+
Frequency of Fiscal examinations - Answer✔
Waiving examinations for foreign and alien companies - Answer✔
Resident Producer - Answer✔Lives in the state in which business is conducted
non resident producer - Answer✔lives in a different state than where business is conducted (No
pre-licensing study course or examination is required. A non-resident license will grant the
same scope of authority as granted by the producer's home state.)
temporary producer - Answer✔under certain circumstances IDOI may issue a temporary
insurance producer license for not more than 180 days if deemed necessary for the servicing of
an insurance business in the best interests of the public.
Consultant - Answer✔are sales agents whose main job is to provide information to people
about various insurance plan options. They provide consultations, discuss fees and set up
insurance contracts with customers
Limited Lines producer - Answer✔"Limited line credit insurance producer" means a person who
sells, solicits or negotiates one or more forms of limited line credit insurance coverage to
individuals through a master, corporate, group or individual policy. o
Flight
o Baggage
o Title
o Credit
o Funeral Directors
who may act as a producer without a license? - Answer✔Chartered Life Underwriter (CLU)
Certified Financial Planner (CFP)
Chartered Financial Consultant (CFC)
Chartered Property and Casualty Underwriter (CPCU)
Certified Insurance Counselor (CIC)
Accredited Advisor in Insurance (AAI)
A Bachelor's Degree in Insurance
Producer Qualifications and the licensing process - Answer✔Be at least 18 years of age
2
INDIANA LIFE AND HEALTH RULES AND
REGULATIONS Exam Questions With Correct
Answers 100% Verified.
Insurance Commissioner - Answer✔• Appointment by Governor
• Member of NAIC
Insurance commissioner Duties - Answer✔responsible for overseeing the Department of
Insurance, which regulates insurance companies operating in Indiana. works to promote
improvements to insurance laws and the enforcement of said laws in Indiana.[
Certificate of Authority - Answer✔Licensed companies receive a
_______________________________ to conduct the business of insurance or operate as a
health maintenance organization in the State of Indiana.
Admitted company - Answer✔insurance company is one that is "admitted" by a particular state
to do business as an insurance company. insurance company must conform to the regulations
of a particular state's Department of Insurance. In addition to meeting minimum regulations for
admission, admitted carriers must also file their rates with the state, which the state must
approve. One of the benefits of working with an admitted carrier is that the state has the
responsibility to pay an insurer's claims, up to state-specified limits, in the event of the
company's insolvency.
Non Admitted Insurance Company - Answer✔insurance company ithat doesn't operate under
an individual state's insurance laws. As a result, a non-admitted insurance company doesn't
enjoy the benefit of having its claims resolved in the event of a bankruptcy.
Domestic Insurance Company - Answer✔insurer is one formed under the laws of this state;
Foreign Insurance Company - Answer✔An insurer from any state other than indiana
Alien Insurance company - Answer✔is one formed under the laws of any country other than a
state of the United States.
1
, ©THESTAR 2024/2025 ALL RIGHTS RESERVED 9:50PM. A+
Frequency of Fiscal examinations - Answer✔
Waiving examinations for foreign and alien companies - Answer✔
Resident Producer - Answer✔Lives in the state in which business is conducted
non resident producer - Answer✔lives in a different state than where business is conducted (No
pre-licensing study course or examination is required. A non-resident license will grant the
same scope of authority as granted by the producer's home state.)
temporary producer - Answer✔under certain circumstances IDOI may issue a temporary
insurance producer license for not more than 180 days if deemed necessary for the servicing of
an insurance business in the best interests of the public.
Consultant - Answer✔are sales agents whose main job is to provide information to people
about various insurance plan options. They provide consultations, discuss fees and set up
insurance contracts with customers
Limited Lines producer - Answer✔"Limited line credit insurance producer" means a person who
sells, solicits or negotiates one or more forms of limited line credit insurance coverage to
individuals through a master, corporate, group or individual policy. o
Flight
o Baggage
o Title
o Credit
o Funeral Directors
who may act as a producer without a license? - Answer✔Chartered Life Underwriter (CLU)
Certified Financial Planner (CFP)
Chartered Financial Consultant (CFC)
Chartered Property and Casualty Underwriter (CPCU)
Certified Insurance Counselor (CIC)
Accredited Advisor in Insurance (AAI)
A Bachelor's Degree in Insurance
Producer Qualifications and the licensing process - Answer✔Be at least 18 years of age
2
