INDIANA LIFE AND HEALTH RULES AND
REGULATION PRACTICE EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ Which of the following is a reason for the commissioner to revoke a
producers license? Answer: Producer published malicious and false
Information toward another insurance company producer found guilty of
twisting after a hearing, producer offered a client a return of commission
in exchange for a sale. (Can't revoke license for producer is insolvent,
Producer represents more than one insurance company)
◉ A long-term care policy sold in Indiana must provide benefits for a
minimum of how many months? Answer: 12 months
◉ A producer must notify the insurance commissioner within __ days of
an address change. Answer: 30 days
◉ How long does an insurance company appointment remain in force.
Answer: Until terminated or withdrawn
◉ With whom may be a producer share commissions with? Answer: A
licensed producer with the same type
, ◉ In Indiana, which of the following must be delivered to a policy
owner upon sale of an individual life insurance policy? Answer: Policy
summary and buyers guide
◉ What is Indiana's definition Of life insurance replacement? Answer:
The transaction in which A new policies bought an old policy is
terminated
◉ In Indiana the maximum fine that a commissioner can impose on a
producer or company who violates a crease or disist order is____ per
violation. Answer: 25000
◉ His life policy loan in Indiana cannot charge a flex rate of interest
higher than. Answer: 8%
◉ Which of the following is considered to be a misrepresentation?
Answer: An agent guaranteeing a policy's dividends
◉ Who is responsible for determining if long-term care coverage is
appropriate to meeting and applicants needs? Answer: Producer
◉ What is the purpose of the Indiana life and health insurance guaranty
association? Answer: Assures that claims filed against insolvent
insurance companies will be paid
REGULATION PRACTICE EXAM PAPER 2026
QUESTIONS WITH ANSWERS GRADED A+
◉ Which of the following is a reason for the commissioner to revoke a
producers license? Answer: Producer published malicious and false
Information toward another insurance company producer found guilty of
twisting after a hearing, producer offered a client a return of commission
in exchange for a sale. (Can't revoke license for producer is insolvent,
Producer represents more than one insurance company)
◉ A long-term care policy sold in Indiana must provide benefits for a
minimum of how many months? Answer: 12 months
◉ A producer must notify the insurance commissioner within __ days of
an address change. Answer: 30 days
◉ How long does an insurance company appointment remain in force.
Answer: Until terminated or withdrawn
◉ With whom may be a producer share commissions with? Answer: A
licensed producer with the same type
, ◉ In Indiana, which of the following must be delivered to a policy
owner upon sale of an individual life insurance policy? Answer: Policy
summary and buyers guide
◉ What is Indiana's definition Of life insurance replacement? Answer:
The transaction in which A new policies bought an old policy is
terminated
◉ In Indiana the maximum fine that a commissioner can impose on a
producer or company who violates a crease or disist order is____ per
violation. Answer: 25000
◉ His life policy loan in Indiana cannot charge a flex rate of interest
higher than. Answer: 8%
◉ Which of the following is considered to be a misrepresentation?
Answer: An agent guaranteeing a policy's dividends
◉ Who is responsible for determining if long-term care coverage is
appropriate to meeting and applicants needs? Answer: Producer
◉ What is the purpose of the Indiana life and health insurance guaranty
association? Answer: Assures that claims filed against insolvent
insurance companies will be paid
