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Health Ch. 8 Indiana Laws & Rules Pertinent to Insurance (1 Questions & 100% Verified Correct Answers with complete solutions (Latest update $7.99   Add to cart
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Health Ch. 8 Indiana Laws & Rules Pertinent to Insurance (1 Questions & 100% Verified Correct Answers with complete solutions (Latest update

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Health Ch. 8 Indiana Laws & Rules Pertinent to Insurance (1 Questions & 100% Verified Correct Answers with complete solutions (Latest update

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  • August 15, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • health ch 8 indiana laws rules pertinent to ins

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  • Insurance
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Health Ch. 8 Indiana Laws & Rules Pertinent to
Insurance
Insurance Companies admitted to do business in Indiana must have a Certificate of Authority. -
ANS-In order to conduct business in Indiana, admitted Insurance Companies must have a
Certificate of Insurance
Certificate of Authority
Business Entity license
Domestic Insurer license

A licensed Indiana Insurance Consultant sells insurance advice for a fee. - ANS-Which of these
statements regarding licensed Indiana Insurance Consultants is true?
Must hold meetings with clients in an approved facility
Can also be licensed as an Insurance Producer
Commissions are split with licensed Producers
Insurance advice is sold for a fee

The correct answer is "Continuing education requirements are less than the continuing
education requirements for a Resident Producer's license". - ANS-Which statement regarding
Indiana Limited Lines licenses is true?
Can be under the age of 18
Pre-license education is not a requirement
Continuing education requirements are less than the continuing education requirements for a
Resident Producer's license
An exam is not required

Forcing an insured to sue the Insurance Company in order to receive a claim settlement is
considered illegal under the Indiana Unfair Claims Settlement laws. - ANS-Under Indiana's
Unfair Claims Settlement laws, which of these activities by an Insurance Company is considered
illegal?
Leave the insured no choice but to sue the Insurance Company to settle a claim
Promptly pay a claim
Ask for additional information to settle a claim
Pay a partial claim

Unfair discrimination would be considered a violation of the Unfair Competition Law. -
ANS-Which of these is considered to be a violation of the Unfair Competition Law?
Charging the same rate for two people in the same risk classification
Basing discrimination on a pre-existing health condition
Unfair discrimination
Basing discrimination on age

, Rebating is when a Producer offers something of value to a potential Policyowner outside of the
promises contained in the policy to convince them to buy a policy. - ANS-If a Producer offers
something of value as an inducement to a potential customer to purchase a policy, this Producer
may be found guilty of
coercion
rebating
twisting
misrepresentation

A Limited Lines license is appropriate for a person that wants to sell only pre-need Life
Insurance for a funeral home. - 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

In this situation, a Temporary Producers License may be issued to the spouse of a disabled
Producer to carry out the day-to-day operations of the insurance agency. - ANS-Which of these
would be a valid reason for the Indiana Insurance Commissioner to issue a Temporary Producer
License?
A disabled Producer would like his spouse to maintain his insurance agency while disabled
A new recruit would like to determine if selling insurance is a viable career choice
To allow a retired Producer to receive renewal commissions
To allow a Producer from another state to sell insurance in Indiana

Paying a fee for each license requested is one of the requirements for a new applicant to be
licensed as an Indiana Resident Producer. - ANS-Which of these is a requirement to become an
Indiana Resident Producer?
Hearing must be held by Indiana Insurance Commissioner to determine eligibility
Appointed by a Domestic Insurer
Fee must be paid for each license requested
Must be at least 19 years old

If an applicant's HIV antibody test comes back as positive, the results reported to the MIB will
indicate that the applicant had abnormal test results. - ANS-An applicant is found to have
Autoimmune Deficiency Syndrome during the underwriting process of a Life Insurance policy.
Which information may be revealed by the insurance company to the Medical Information
Bureau (MIB)?
Applicant has Autoimmune Deficiency Syndrome
Applicant has abnormal results
Applicant is at high risk for acquiring Autoimmune Deficiency Syndrome
Presence of Human Immunodeficiency Virus

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