Indiana life and health practice exam

1. How many CE hours must an Indiana resident producer with life, health, or annuity authority complete each renewal period?

1. 24 hours, including at least 3 hours on ethical practices in the marketing and sale of life, health, or annuity products
2. 20 hours, including 2 hours of ethics
3. 24 hours, with no ethics requirement
4. 30 hours, including 3 hours of ethics

2. Of an Indiana producer's 24 required CE hours, how many may come from courses on sales promotion, sales technique, motivation, psychology, or time management?

1. None
2. No more than 12 hours
3. All 24 hours
4. No more than 4 hours

3. Under Indiana law, the Commissioner may impose a civil penalty on a producer of:

1. Not more than $100,000
2. Not less than $500 and not more than $25,000
3. Not less than $50 and not more than $10,000
4. Not more than $1,000

4. When the Indiana Commissioner requests a report from a producer, the producer must furnish it within:

1. 10 days after receiving the request
2. 60 days after receiving the request
3. 30 days after receiving the request
4. 5 days after receiving the request

5. Under Indiana's controlled business rule, a violation can occur when business on the producer's own life, family, or business exceeds what share of the producer's aggregate commissions in a 12-month period?

1. 50 percent
2. 25 percent
3. 75 percent
4. 10 percent

6. An Indiana producer must report an administrative action taken against them within:

1. 10 days after the action begins
2. The next license renewal
3. 60 days after the final disposition
4. 30 days after the final disposition

7. An Indiana producer facing a criminal prosecution must report it within:

1. 30 days after the initial pretrial hearing date
2. 60 days after a conviction
3. The next license renewal
4. 10 days after arrest

1. Indiana requires an individual life insurance policy to provide a grace period for premiums after the first of not less than:

1. 31 days
2. 30 days
3. 10 days
4. 60 days

2. In Indiana, a life policy becomes incontestable after it has been in force during the insured's lifetime for:

1. 5 years from its date
2. 1 year from its date
3. 2 years from its date
4. 3 years from its date

3. In Indiana, a lapsed life policy may be reinstated within:

1. 1 year from the due date of the premium in default
2. 3 years from the due date of the premium in default
3. 5 years from the due date of the premium in default
4. 2 years from the due date of the premium in default

4. In Indiana, a death claim must be settled upon receipt of due proof of death and no later than:

1. 2 months
2. 30 days
3. 6 months
4. 10 days

5. If an Indiana death claim is not paid within 30 days, interest is owed:

1. From the end of the 30th day only
2. No interest is owed
3. From the date the claim was filed only
4. From the date of death to the date of settlement

1. Indiana requires an annuity contract to provide a free look period of:

1. 45 days
2. 30 days
3. 10 days
4. 20 days

1. Under Indiana's replacement rule, the owner may return a replacement policy for an unconditional refund within:

1. 20 days from delivery
2. 30 days from delivery
3. 45 days from delivery
4. 10 days from delivery

2. In Indiana, a replacing insurer must notify the existing insurer within:

1. 5 business days
2. 3 working days of receiving the application or issuing the policy, whichever is sooner
3. 10 working days
4. 30 days

3. Indiana replacing insurers must keep replacement records for at least:

1. 5 years
2. 10 years
3. 3 years, or until the next regular examination, whichever is later
4. 1 year

1. The Indiana Life and Health Insurance Guaranty Association limits total protection for one individual, other than for health plans, to:

1. $350,000
2. $500,000
3. $250,000
4. $300,000

2. The Indiana guaranty association covers the present value of annuity benefits up to:

1. $100,000
2. $300,000
3. $250,000
4. $500,000