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INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 3) QUESTIONS AND ANSWERS
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INDIANA LIFE AND HEALTH INSURANCE STATE EXAM (PART 3) QUESTIONS AND ANSWERS
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INDIANA LIFE AND HEALTH INSURANCESTATE EXAM (PART 3) QUESTIONS AND
ANSWERS
A life insurance application may be rejected on the basis of all of these EXCEPT: -
Answer-Gender
If a retiree on Medicare required five hospital stays in one year, which policy would
provide the best insurance for excess hospital expenses? - Answer-Medicare
supplement
When an insurance application is taken by a producer, which of these statements is
true? - Answer-Any changes made on the application require the applicant's initials
Which of the following BEST describes a Hospital Indemnity policy? - Answer-Coverage
that pays a stated amount per day of a covered hospitalization
Which of the following actions does the Insurance Commissioner NOT have the power
to conduct? - Answer-Activate insurance companies' financial reserves
Long term Care policies will usually pay for eligible benefits using which of the following
methods? - Answer-Expense incurred
Which of the following is the reimbursement of benefits for the treatment of a
beneficiary's injuries caused by a third party? - Answer-Subrogation
Which Unfair Competition Practice involves a producer suggesting that an insurance
policy is like a share of stock? - Answer-Misrepresentation
An individual who purchases a life annuity is given protection against: - Answer-The risk
of living longer than expected
Premature IRA distributions are assessed a penalty tax of - Answer-10%
Which of these describe a participating insurance policy? - Answer-Policyowners are
entitled to receive dividends
A policy loan is made possible by which of these life insurance policy features? -
Answer-Cash value provision
a 66 year old is covered under a group health plan while employed with a business that
has 40employees. If she injures herself while walking in the park, what coverage will be
considered primary? - Answer-Her group health plan
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