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Insurance Exam: life (Iowa laws, rules, and regulations commonly to ALL lines) Final Exam Questions with 100% Correct Answers | Updated 2024 | Guaranteed Success$13.49
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Insurance Exam: life (Iowa laws, rules, and regulations commonly to ALL lines) Final Exam Questions with 100% Correct Answers | Updated 2024 | Guaranteed Success
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Insurance Exam: life (Iowa laws, rules, and
regulations commonly to ALL lines) Final
Exam Questions with 100% Correct Answers
| Updated 2024 | Guaranteed Success
Insurance Exam: life (Iowa laws, rules, and
regulations commonly to ALL lines) Final
Exam Questions with 100% Correct Answers
| Updated 2024 | Guaranteed Success
all of the following are true regarding rebates EXCEPT
A) rebates are allowed if its in the best interest of the client
B) rebates are only allowed if specifically stated in the policy
C) rebating can be anything of economic value given as an inducement to buy
D) dividends are not considered to be rebates ✔✔rebates are allowed if its in the best interest
of the client
what entity was created to protect insureds against insurer insolvency?
A) the insurer insolvency protection agency
B) the Iowa insurance division
C) the Iowa life and health guaranty association
D) the NAIC ✔✔the Iowa and health guaranty association
which of the following entities is not an insurer but an organization formed to provide
insurance benefits for members of an affiliated lodge or religious organization?
A) fraternal benefit society
B) mutual company
C) stock company
,D) reciprocal association ✔✔fraternal benefit society
, if an insurer becomes insolvent, the Iowa life and health guaranty association will do all of the
following EXCEPT
A) provide money to claimants
B) assume payment of the insurers contractual obligations
C) purchase all existing contracts issued under the insurer
D) reinsure the policies of the insolvent insurer ✔✔purchase all existing contracts issued under
the insurer
a producer in another state wants to become a producer in Iowa. the other state gives the
sample privileges to Iowa producers wanting to be licensed in that state as it does its own
producers. Iowa therefore extends the privileges of its producers to the prospective producer of
the other state. what is this called?
A) fair exchange
B) equanimity
C) equal privilege
D) reciprocity ✔✔reciprocity
when transacting business in this state an insurer formed under the laws of another country is
know as a/an
A) domestic insurer
B) foreign insurer
C) admitted insurer
D) alien insurer ✔✔alien insurer
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