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Indiana Life and Health Insurance Final Exam (xceltestingsolutions) Questions & 100% Verified Correct Answers with complete solutions (Latest update $7.99   Add to cart
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Indiana Life and Health Insurance Final Exam (xceltestingsolutions) Questions & 100% Verified Correct Answers with complete solutions (Latest update

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Indiana Life and Health Insurance Final Exam (xceltestingsolutions) Questions & 100% Verified Correct Answers with complete solutions (Latest update

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  • August 14, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • indiana life and health insurance final exam xcel

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  • Insurance
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Indiana Life and Health Insurance Final Exam
(xceltestingsolutions)
paying a finder's fee to an individual who provides a sales lead - ANS-Which of these is NOT
considered to be a violation of the Unfair Competition Law in Indiana?
monopolize or restrain trade
making unsubstantiated criticisms about an insurance company
pay insurance commissions to an unlicensed individual
paying a finder's fee to an individual who provides a sales lead

an individual who negotiates a viatical settlement contract with a viator - ANS-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

20 days - ANS-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

A licensed Producer must be designated as responsible for compliance - ANS-What is required
for a business entity to be licensed in Indiana as a Producer?
Get special approval from the Commissioner
A licensed Consultant must be designated as responsible for compliance
A licensed Producer must be designated as responsible for compliance
Only Producers may work for the business entity

Predictability of loss - ANS-Which of the following is a requirement for a risk to be considered
insurable?
Catastrophic
Speculative
Chance of both a loss and gain
Predictability of loss

15 days - ANS-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

stock company - ANS-The insurance company that shares profits or losses with its investors is
called a
mutual company
admitted company
domestic company
stock company

They must contain a provision which guarantees reinstatement - ANS-Which statement is NOT
true about Individual Medical Expense policies sold in Indiana?
The maximum Incontestable Clause is two years
The Grace Period offered is based on the frequency of premium payments
They must contain a provision which guarantees reinstatement
They must contain a Free Look provision

Specific health conditions are excluded - ANS-Which of the following statements BEST
describes an impairment rider for a Medical Expense policy?
Pays additional benefits for impairments
Specific health conditions are excluded
Specific health conditions are covered by a reinsurer
Dependents with an impairment are included

Limited Lines - ANS-What kind of insurance license is recommended for those individuals who
would like to sell pre-need Life Insurance for a funeral home?
Producer
Consultant
Limited Lines
Surplus Lines

consumers the right to protect their own credit information - ANS-The Fair Credit Reporting Act
is intended to give
assistance to insurers when underwriting insurance applications
consumers the right to protect their own credit information
access to consumer's medical information
assistance to insurers when handling claims

sue the insurer - ANS-Under the Uniform Individual Policy Health Provisions law, the Legal
Action provision states how much time an insured has to
sue the insurer
be sued by the insurer
file written proof of loss

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