Insurance Exam: life (Iowa laws, rules,
and regulations pertinent to life only)
exam Questions and Verified Answers,
100- Score Guarantee Pass (Latest 2025)
which of the following documents must be provided to the Policyowner or applicant during policy
replacement?
A) notice regarding replacement
B) disclosure authorization form
C) buyers guide and policy summary
D) policy illustration - CORRECT ANSWERS notice regarding replacement
a group insurance policy issued to a nonprofit industrial association must cover at least how many
employees at the dat of issue
A) 100
B) 1000
C) 10
D) 50 - CORRECT ANSWERS 1000
what is the purpose of life insurance solicitation regulations
A) to help producers understand different policies
B) to help consumers compare life insurance products in regard to their relative cost
C) to provide information regarding replacement of policies
D) to name producers required and prohibited actions for product advertising - CORRECT ANSWERS
to help consumers compare life insurance products in regard to their relative cost
, During replacement of life insurance, a replacing insurer must do which of the following?
A) designate a new producer for a replaced policy
B) send a copy of the notice regarding replacement to the department of insurance
C) obtain a list of all life insurance policies that will be replaced
D) guarantee a replacement for each existing policy - CORRECT ANSWERS obtain a list of
all life insurance policies that will be replaced
which of the following is true if an insurer bases a life insurance policy loan interest rate on a published
monthly average
A) the policy loan must not exceed one half the cash surrender value, or the average cash surrender
value published in the previous year
B) the average must not exceed the monthly average of the month ending 2 months before the date the
rate is determined
C) the average must be no less than the monthly average of the month of loan issuance
D) the published monthly average must appear in a recognized financial index - CORRECT ANSWERS
the average must not exceed the monthly average of the month ending 2 months before the date the
rate is determined
suitability is based on all of the following EXCEPT
A) the clients age
B) the clients insurance objectives
C) the clients financial situation
D) the clients initial premium - CORRECT ANSWERS the clients initial premium
conversion privilege in group life insurance policies must be exercised within what period of time after
termination of group coverage
A) 10 days
B) 31 days
and regulations pertinent to life only)
exam Questions and Verified Answers,
100- Score Guarantee Pass (Latest 2025)
which of the following documents must be provided to the Policyowner or applicant during policy
replacement?
A) notice regarding replacement
B) disclosure authorization form
C) buyers guide and policy summary
D) policy illustration - CORRECT ANSWERS notice regarding replacement
a group insurance policy issued to a nonprofit industrial association must cover at least how many
employees at the dat of issue
A) 100
B) 1000
C) 10
D) 50 - CORRECT ANSWERS 1000
what is the purpose of life insurance solicitation regulations
A) to help producers understand different policies
B) to help consumers compare life insurance products in regard to their relative cost
C) to provide information regarding replacement of policies
D) to name producers required and prohibited actions for product advertising - CORRECT ANSWERS
to help consumers compare life insurance products in regard to their relative cost
, During replacement of life insurance, a replacing insurer must do which of the following?
A) designate a new producer for a replaced policy
B) send a copy of the notice regarding replacement to the department of insurance
C) obtain a list of all life insurance policies that will be replaced
D) guarantee a replacement for each existing policy - CORRECT ANSWERS obtain a list of
all life insurance policies that will be replaced
which of the following is true if an insurer bases a life insurance policy loan interest rate on a published
monthly average
A) the policy loan must not exceed one half the cash surrender value, or the average cash surrender
value published in the previous year
B) the average must not exceed the monthly average of the month ending 2 months before the date the
rate is determined
C) the average must be no less than the monthly average of the month of loan issuance
D) the published monthly average must appear in a recognized financial index - CORRECT ANSWERS
the average must not exceed the monthly average of the month ending 2 months before the date the
rate is determined
suitability is based on all of the following EXCEPT
A) the clients age
B) the clients insurance objectives
C) the clients financial situation
D) the clients initial premium - CORRECT ANSWERS the clients initial premium
conversion privilege in group life insurance policies must be exercised within what period of time after
termination of group coverage
A) 10 days
B) 31 days
