Insurance Exam Iowa missed questions

If a producer knowingly violates the insurance code, the maximum aggregate penalty cannot exceed

50,000 in a 6 month period

The owner of a whole life policy with an accidental death rider intentionally kills himself after having the policy for 18 months. What is the insurance company course of action?

Deny any payment of death benefit

if a life insurance policy uses HIV testing as a part of its underwriting, when must an applicant be notified of the procedure

Prior to performance of the test

Which of the following insurance products are covered under solicition regulation of the insurance code?

Whole life

decreasing term insurance is often used to?

cover a mortage

After a hearing, who issues the written order resolving the factual issues presented in a hearing and stating what remedial action is necessary

the insurance division

With Adjustable Life, the owner can change all of the following EXCEPT

the insured

All of the following are general requirements of a qualified plan except?

the plan must be temporary

the commissioner may examine an insurer's records

whenever necessary in order to enforce insurance laws and regulations

Which of the following will not be included in a buyers guide?

Specific information about the policy

Applications for a producer license must be accomplished by a licensing fee of

$50.00

As insured and his spouses recently had a child. Which of the following riders would allow the couple to insure the child for a limited period of time at a specified amount

Children's term rider

Dividends received on participation life insurance policies are

not taxable because they are a return of unused premiums

An equity indexed annuity will grow based upon

performance of a recognized index

According to the life insurance replacement regulations, which of the following would be an example of policy replacement

a policy is reissued with a reduction in cash value

Under a debtor group insurance policy, who must the beneficiary of the proceeds?

the creditor

All of the following are regulated areas of the insurance industry except

comissions

An annuity has accumulated the cash value of $70,000 of which $30,000 is from premium payments. The annuitant dies the accumulations phase. The beneficiary will receive

$70,000

A policy loan taken from a life insurance policy must provide which of the following interest rates?

8% per year

When a whole life policy is surrendered for its non-forfeiture value, what is the automatic option?

Extended term

Which dividend option will increase the death benefit?

Paid-up additions

Which of the following is not a violations with regard to a life insurance replacement transaction?

advising an insured of their rights under a policy to covert to another type of life insurance policy without providing evidence of insurability

When making recommendations for a group life insurance, an insurance producer must determine suitability

for the group policy owner

All of the following information needs to be included on an application for life insurance except?

heath insurance policies in force

According to the fair credit reporting act, all of the following statements are true except?

if an applicant is declined for an insurance policy, he or she has no right to know what was in the report.

Which of the following is not true regarding a deferred annuity?

income payments begin within a 1 year from the date of purchase

The provision that sets forth the basic agreement between the insurer and the insured and states the insurer's promise to pay the death benefit upon the insured death is called the?

insuring clause

Cash values guarantees in a whole life policy are called

non forfeitures values

What is the difference between a straight life policy and a 20-pay whole life policy?

premium payment period

The guaranteed insurability rider allows the owner to purchase additional amount of life insurance without proof of insurability at all of the following except

purchase of a new home

Which of the following actions does not constitute false advertising?

stating that dividends are not guaranteed

The renewable provision allows the policy-owner to renew the coverage at the expiration date

without evidence of insurability