Indiana Life and Health Insurance State
Exam (Part 2) 2024-2025 Edition. All
Exam Questions & Answers. Graded A+
A policyowner is allowed to pay premiums more than once a year under which
provision? - ANSMode of Premium
ABC Insurance Company fails to pay death proceeds after satisfactory proof of loss was
submitted. ABC must begin paying interest on the death proceeds after ____ days of
receiving proof of loss. - ANS30
According to Indiana Law, group life insurance conversion privileges must NOT: -
ANSRequire evidence of insurability
Additional coverage can be added to a Whole Life policy by adding a(n): -
ANSDecreasing term rider
An agent takes an Individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to: - ANSDetermine if the applicant is an acceptable risk
by completing standard underwriting procedures
An applicant MUST receive an outline of coverage when an application is taken for a(n):
- ANSMedicare Supplement policy
An example of rebating would be: - ANSReturning a portion of a premium as
inducement to purchase insurance
An Indiana resident insurance producer must perform which of the following actions to
continue with their license? - ANSMeet continuing education requirements
An individual participant personally received eligible rollover funds from a profit-sharing
plan. What is the income tax withholding requirements for this transaction? - ANS20% is
withheld for income taxes
An insured pays premiums on an annual basis for an individual health insurance policy.
What is the MINIMUM number of days for the Grace Period provision? - ANS31
C is a key employee at ABC Incorporated. If a Key Employee life policy is purchased on
her life, which of these statements would be true? - ANSABC is the policyowner, C is
the insured, and ABC is the beneficiary
Exam (Part 2) 2024-2025 Edition. All
Exam Questions & Answers. Graded A+
A policyowner is allowed to pay premiums more than once a year under which
provision? - ANSMode of Premium
ABC Insurance Company fails to pay death proceeds after satisfactory proof of loss was
submitted. ABC must begin paying interest on the death proceeds after ____ days of
receiving proof of loss. - ANS30
According to Indiana Law, group life insurance conversion privileges must NOT: -
ANSRequire evidence of insurability
Additional coverage can be added to a Whole Life policy by adding a(n): -
ANSDecreasing term rider
An agent takes an Individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to: - ANSDetermine if the applicant is an acceptable risk
by completing standard underwriting procedures
An applicant MUST receive an outline of coverage when an application is taken for a(n):
- ANSMedicare Supplement policy
An example of rebating would be: - ANSReturning a portion of a premium as
inducement to purchase insurance
An Indiana resident insurance producer must perform which of the following actions to
continue with their license? - ANSMeet continuing education requirements
An individual participant personally received eligible rollover funds from a profit-sharing
plan. What is the income tax withholding requirements for this transaction? - ANS20% is
withheld for income taxes
An insured pays premiums on an annual basis for an individual health insurance policy.
What is the MINIMUM number of days for the Grace Period provision? - ANS31
C is a key employee at ABC Incorporated. If a Key Employee life policy is purchased on
her life, which of these statements would be true? - ANSABC is the policyowner, C is
the insured, and ABC is the beneficiary
