Indiana law

Under the Indiana long term care partnership program (LTCP) producers are required to have an additional ______ hours of education after they receive their license in order to sell policies under this program.

15

How many days is a temporary producers license valid?

180

A newly licensed producer must complete 24 hours of continuing education every ______ years.

2

In Indiana what is the maximum percentage of controlled business a producer may produce over a twelve month period?

25%

ABC insurance Company fails to pay death proceeds after satisfactory proof of loss was submitted. ABC must then begin paying interest on the death proceeds after ______ days of receiving proof of loss.

30 days

According to Indiana law, how long is the free Look period for a Medicare Supplement Policy?

30 days

In the event of employment termination, a person covered by a group policy also has the right to convert such coverage to an individual policy within ______ days without proving insurability.

31

A life insurance policy can be backdated before the application date for up to

6 months

Which of these is an example of twisting?

A producer misrepresents a policy to induce a policyowner to surrender an existing policy.

All of these statements concerning individual Medical Expense polices sold in Indiana are true, Except

A provision must be contained that guarantees reinstatement

A _______ insurance company is one formed in a country other than the United States.

Alien

Under a Small Group Health plan, babies are covered:

At birth

What is considered to be a characteristic of an immediate annuity?

Benefit payments start within one payment period of purchase

An individual covered under a Group life insurance policy is considered to be a

Certificate holder

In Indiana which of the following is considered an unfair competition practice?

Coercion

Indiana's 10 day free look period for life insurance polices begins on the

Date of delivery

A characteristic of preferred provider organizations (PPOs) would be:

Discounted fees for the patient

What is required for producers to sell Long term care (LTC) on Indiana?

Eight hours of post licensing education specifically devoted to LTC.

A group life insurance policy can be converted to an individual whole life policy under which circumstance?

Employment termination

What is the purpose of Indiana life and health insurance guaranty association

Ensures that claims filed against insolvent insurance companies will be paid.

Which of the following is a requirement to be eligible for a group life policy in Indiana?

Group must be formed for a purpose other than obtaining insurance

Which requirement must be met for an association to be eligible for a group life plan?

Group was formed for a purpose other than acquiring insurance

The type of annuity that can be purchased with one monetary deposit is called a(n)

Immediate annuity

During the course of an insurance business transaction, who does the producer legally represent?

Insurance company

A policyowner would like to change the beneficiary on a Life insurance policy and make the change permanent. Which type of designation would fulfill this need?

irrevocable

which of these is NOT considered to be an element of an insurance contract?

negotiating

In an individual retirement account (IRA), rollover contributions are

not limited by dollar amount

An example of rebating would be

offering a client something of value not stated in the contract in exchange for their business

Which product would best serve a retired individual looking to invest a lump-sum of money through an insurance company?

annuity

Which of these is NOT relevant when determining the amount of personal life insurance needed?

Local unemployment rate

An insurance company would MOST likely pay benefits under an Accidental Death and Dismemberment policy for which of the following losses?

Loss of eyesight due to an accidental injury

Defamation occurs when a producer makes a false statement intended to:

Malign another insurer

Life insurance coverage will frequently contain an accelerated benefits rider attached to the policy. What would be considered a "qualifying event" under these riders?

Medical condition resulting in a significantly shortened lifespan

An Indiana resident insurance producer must preform which of the following actions to continue with their license?

Meet continuing education requirements

An example of an unfair claims settlement practice would be:

Misrepresenting insurance policy provisions affecting a loss

Which of the following is NOT an unfair claim settlement practice?

Needing written documentation of claim details

A licensed business entity acting as an insurance producer MUST:

Notify the department of insurance of any fictitious name used

If a new Medicare supplement policy involves the replacement of existing coverage, it must be verified on a question located:

On the application

According to Indiana's Mammography coverage statue, which of these benefits are considered mandatory in every Medical Expense Policy?

One mammogram every year for women aged 40 and older.

In Indiana which of the following MUST be delivered to a policyowner upon the sale of an individual life insurance policy?

Policy summary and buyers guide

An individual who in any manner sells, solicits, or negotiates insurance on behalf of insurance companies for compensation is an insurance:

Producer

Which of the following is NOT a reason for the commissioner to revoke a producer's license?

Producer is insolvent

In order to terminate a producers appointment the insurer MUST:

Send notice to the termination to the commissioner

The percentage of an individual's Primary Insurance Amount (PIA) determines the benefits paid in which of the following programs?

Social Security Disability Income

Health polices sold in Indiana are REQUIRED to begin medical coverage of a newborn beginning at:

The moment of birth

Life insurance replacement regulation protects the interests of

The policy owner

Life insurance replacement regulation protects the interest of:

The policyowner

When a life insurance application is completed, a policy summary must be given to the applicant. The policy Summary MUST include:

The premium cost for basic coverage applied for.

P's individual health policy is now in the Grace Period. P's coverage will remain in force if:

The premium is laid

If an insurer offers health coverage to an employee, the insurer MUST inform the employer of all of the following information EXCEPT:

The terms of the insurers provider agreement

Under the ACA, consumers must have health insurance as of January 1, 2014 that contains Minimum Essential Coverage (MEC). Individuals who are exempt from this law include:

Those who cannot afford or have religious objections

Why would the insurance Commissioner issue a temporary license?

To allow the personal representative of a deceased producer to provide service to existing policyowners.

Why would the commissioner examine the records of an insurance company?

To determine the solvency of the company

The insurance commissioner is authorized:

To enforce state laws relating to insurance

A producer who makes misleading statements that lead to the termination of an existing insurance policy so that a new policy with another insurer can be taken out has committed:

Twisting

According to Indiana Law how long can statements made by an applicant on a health insurance policy be contested

Two years

Which of the following plans is NOT required to meet Minimum Essential Coverage (MEC) standards under the Affordable Care Act (ACA)?

Workers compensation

Which of the following would be a valid reason for suspending or revoking an insurance producers license?

Writing primarily controlled business