Owa life exam - Study guides, Class notes & Summaries

Iowa Life Insurance Exam Questions and Answers Already Passed purpose of life insurance pay a death benefit to beneficiaries when the insured dies life insurance for personal use death benefit serves to replace the insured's future loss income and pay expenses that occur upon death, living benefits Group insurance vs. individual -covers many non-related people -less expensive per person group insurance eligibility -group cannot be formed for the express purpose of purchasing it -employers -l...

Insurance Exam: Life (Iowa Laws, Rules, and Regulations Commonly To ALL Lines) Rated A+ which individual would be required to be licensed as an insurance producer? A) a salaried full time employee who counsels the employer on the employers insurance interests B) a person employed by the insurer to inspect and rate risks C) a salaried employee who advertises and solicits insurance D) an assistant who secures and furnishes information for group insurance a salaried employee who advertises and ...

Iowa Life Exam Graded A+ Which of these needs is satisfied by Adjustable Life insurance? insured's need for flexible premiums K is shopping for a permanent life insurance policy that will offer her the most protection per dollar of annual premium. Which of these policies best fits her needs? Straight life What type of policy has a death benefit that adjusts periodically and is written for a specific period of time? decreasing term K buys a policy where the premium stays fixed for th...

Iowa Life Insurance Exam Questions and Answers (Latest Update 2024)

Which of these needs is satisfied by Adjustable Life insurance? - insured's need for flexible premiums K is shopping for a permanent life insurance policy that will offer her the most protection per dollar of annual premium. Which of these policies best fits her needs? - Straight life What type of policy has a death benefit that adjusts periodically and is written for a specific period of time? - decreasing term

How is the insurance commissioner appointed? PAGE 2 - Appointed by the governor and confirmed by the senate How long is a term for the Iowa Insurance Commissioner? PAGE 2 - 4 Years The power to examine and investigate into the affairs of every person engaged in the business of insurance resides with the...PAGE 2 - Commissioner of Insurance Domestic Companies must be examined by the commissioner at least once every _____ years? PAGE 2 - Every 4 years The commissioner may give notice of a h...

How is the insurance commissioner appointed? PAGE 2 - Appointed by the governor and confirmed by the senate How long is a term for the Iowa Insurance Commissioner? PAGE 2 - 4 Years The power to examine and investigate into the affairs of every person engaged in the business of insurance resides with the...PAGE 2 - Commissioner of Insurance Domestic Companies must be examined by the commissioner at least once every _____ years? PAGE 2 - Every 4 years The commissioner may give notice of a h...

How is the insurance commissioner appointed? PAGE 2 - Appointed by the governor and confirmed by the senate How long is a term for the Iowa Insurance Commissioner? PAGE 2 - 4 Years The power to examine and investigate into the affairs of every person engaged in the business of insurance resides with the...PAGE 2 - Commissioner of Insurance Domestic Companies must be examined by the commissioner at least once every _____ years? PAGE 2 - Every 4 years The commissioner may give notice of a h...

Cash Benefit Riders - correct answer AD & D, Rehab, Medical Reimbursement, and Hospital confinement benefit Change of Occupation provision - correct answer permits insurer the right to reduce benefits if the insured has changed jobs to a more hazardous occupation Future Increase Option Rider - correct answer A provision that permits the insured to increase benefit coverage as they get older w/o proving insurability Relations of Earnings to Insurance Provision - correct answer permits in...

which individual would be required to be licensed as an insurance producer? A) a salaried full time employee who counsels the employer on the employers insurance interests B) a person employed by the insurer to inspect and rate risks C) a salaried employee who advertises and solicits insurance D) an assistant who secures and furnishes information for group insurance a salaried employee who advertises and solicits insurance a temporary producers license may be used for which of the followin...