IOWA Life Insurance
Frequently Tested Exam Questions With
Verified Multiple Choice and Conceptual Actual
100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. How is the Iowa Insurance Commissioner appointed?
A. Elected by the public
B. Appointed by the governor and confirmed by the senate
C. Appointed by the state legislature
D. Selected by the Insurance Department
2. How long is the term for the Iowa Insurance Commissioner?
A. 2 years
B. 4 years
C. 6 years
D. 8 years
3. The power to examine and investigate the affairs of every person engaged in
the business of insurance resides with the...
Commissioner of Insurance
4. Domestic insurance companies must be examined by the Commissioner at
least once every:
,A. 2 years
B. 3 years
C. 4 years
D. 5 years
If the Commissioner gives notice of a hearing to a person accused of unfair
competition or deceptive practices, how many days' notice must be provided
before the hearing?
A. 3 days
B. 5 days
C. 7 days
D. 10 days
If a person knew or reasonably should have known they were in violation of
insurance trade practices, the penalty shall not exceed:
A. $1,000 per violation, up to $10,000
B. $2,500 per violation, up to $25,000
C. $5,000 per violation, up to $50,000
D. $10,000 per violation, up to $100,000
If the Commissioner finds that a producer has engaged in an unfair trade
practice, the Commissioner may:
Impose a monetary penalty, suspend the producer’s license, or revoke the
producer’s license
What will be issued if the Commissioner determines that a producer has
engaged in an unfair trade practice?
, A Cease and Desist Order
A person applying for a resident insurance producer license must:
Be at least 18 years old, be of good repute, and successfully complete a
licensing examination
An insurance producer doing business under a name other than their legal
name must:
Notify the Commissioner prior to using the assumed name
1 Which of the following individuals would be required to take an insurance
licensing examination?
A. A sales employee soliciting insurance
B. A person not receiving commission
C. A licensed attorney providing surety bonds incident to their practice
D. An administrative employee indirectly related to insurance sales
1 A licensing examination would NOT be required for which of the following?
A. A clerical employee quoting prices to a customer
B. An executive negotiating insurance sales
C. An insurer
D. A managerial employee receiving a commission
1 The Commissioner may terminate a producer’s license for which of the
following reasons?
, A. Changing the producer’s address
B. Changing the producer’s name
C. Having been convicted of a felony
D. Having multiple company appointments
The commissioner may NOT penalize an insurance producer for failing to pay
which of the following?
A) Child support
B) College Student Loans
C) State Income Tax
D) Estimated taxes
PAGE 6 - ANSWER A) Child support B) College Student Loans C) State Income
Tax D) Estimated taxes ------> Answer = D
The commissioner would NOT penalize an insurance producer for which of the
following?
A) Improperly using notes on an insurance exam
B) Knowingly accepting insurance business from an individual who is licensed
C) Attempting to obtain a license through misrepresentation or fraud D) Forging
another's name to an application
PAGE 6 - ANSWER ------> Answer = B
If the commissioner denies an application for a license, the commissioner would
NOT do which of the following?
A) Issue a cease and desist order
Frequently Tested Exam Questions With
Verified Multiple Choice and Conceptual Actual
100% Correct Detailed Answers
Guaranteed Pass!!Current Update!!
1. How is the Iowa Insurance Commissioner appointed?
A. Elected by the public
B. Appointed by the governor and confirmed by the senate
C. Appointed by the state legislature
D. Selected by the Insurance Department
2. How long is the term for the Iowa Insurance Commissioner?
A. 2 years
B. 4 years
C. 6 years
D. 8 years
3. The power to examine and investigate the affairs of every person engaged in
the business of insurance resides with the...
Commissioner of Insurance
4. Domestic insurance companies must be examined by the Commissioner at
least once every:
,A. 2 years
B. 3 years
C. 4 years
D. 5 years
If the Commissioner gives notice of a hearing to a person accused of unfair
competition or deceptive practices, how many days' notice must be provided
before the hearing?
A. 3 days
B. 5 days
C. 7 days
D. 10 days
If a person knew or reasonably should have known they were in violation of
insurance trade practices, the penalty shall not exceed:
A. $1,000 per violation, up to $10,000
B. $2,500 per violation, up to $25,000
C. $5,000 per violation, up to $50,000
D. $10,000 per violation, up to $100,000
If the Commissioner finds that a producer has engaged in an unfair trade
practice, the Commissioner may:
Impose a monetary penalty, suspend the producer’s license, or revoke the
producer’s license
What will be issued if the Commissioner determines that a producer has
engaged in an unfair trade practice?
, A Cease and Desist Order
A person applying for a resident insurance producer license must:
Be at least 18 years old, be of good repute, and successfully complete a
licensing examination
An insurance producer doing business under a name other than their legal
name must:
Notify the Commissioner prior to using the assumed name
1 Which of the following individuals would be required to take an insurance
licensing examination?
A. A sales employee soliciting insurance
B. A person not receiving commission
C. A licensed attorney providing surety bonds incident to their practice
D. An administrative employee indirectly related to insurance sales
1 A licensing examination would NOT be required for which of the following?
A. A clerical employee quoting prices to a customer
B. An executive negotiating insurance sales
C. An insurer
D. A managerial employee receiving a commission
1 The Commissioner may terminate a producer’s license for which of the
following reasons?
, A. Changing the producer’s address
B. Changing the producer’s name
C. Having been convicted of a felony
D. Having multiple company appointments
The commissioner may NOT penalize an insurance producer for failing to pay
which of the following?
A) Child support
B) College Student Loans
C) State Income Tax
D) Estimated taxes
PAGE 6 - ANSWER A) Child support B) College Student Loans C) State Income
Tax D) Estimated taxes ------> Answer = D
The commissioner would NOT penalize an insurance producer for which of the
following?
A) Improperly using notes on an insurance exam
B) Knowingly accepting insurance business from an individual who is licensed
C) Attempting to obtain a license through misrepresentation or fraud D) Forging
another's name to an application
PAGE 6 - ANSWER ------> Answer = B
If the commissioner denies an application for a license, the commissioner would
NOT do which of the following?
A) Issue a cease and desist order
