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Life Laws & Regulations

Provider
Pearson Professional Assessments
Format
Computer-delivered multiple-choice examination
Exam questions
35 questions; 30 scored and 5 pretest
Time limit
60 minutes
Passing score
70%
Examination outline
  • I. INDIANA LAWS AND DEPARTMENT RULES COMMON TO ALL LINES OF INSURANCE 20
    • A. Department of Insurance
    • A. Department of Insurance > 1. Insurance Commissioner
    • A. Department of Insurance > 1. Insurance Commissioner > a. Appointment by Governor
    • A. Department of Insurance > 1. Insurance Commissioner > b. Member of National Association of Insurance Commissioners (NAIC)
    • A. Department of Insurance > 1. Insurance Commissioner > c. Powers
    • A. Department of Insurance > 1. Insurance Commissioner > d. Duties
    • A. Department of Insurance > 2. Admission of Insurance Companies
    • A. Department of Insurance > 2. Admission of Insurance Companies > a. Certificate of Authority
    • A. Department of Insurance > 2. Admission of Insurance Companies > b. Admitted versus non-admitted companies
    • A. Department of Insurance > 2. Admission of Insurance Companies > c. Domestic, foreign, and aliencompanies
    • A. Department of Insurance > 3. Examination of Admitted Insurance Companies
    • A. Department of Insurance > 3. Examination of Admitted Insurance Companies > a. Fiscal examinations
    • A. Department of Insurance > 3. Examination of Admitted Insurance Companies > b. Waiving examinations of foreign and alien companies
    • A. Department of Insurance > 4. Insurance Guaranty Associations
    • A. Department of Insurance > 4. Insurance Guaranty Associations > a. Purpose
    • A. Department of Insurance > 4. Insurance Guaranty Associations > b. Policy benefits that are guaranteed
    • B. Producer Licensing Laws
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > a. Resident producer
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > b. Nonresident producer
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > c. Temporary producer
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > d. Consultant
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > e. Business entity
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > f. Limited Lines
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > f. Limited Lines > i. Travel
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > f. Limited Lines > ii. Title
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > f. Limited Lines > iii. Credit
    • B. Producer Licensing Laws > 1. Types of Insurance Licenses, Eligibility Requirements & Powers and Duties > f. Limited Lines > iv. Prearranged funeral insurance
    • B. Producer Licensing Laws > 2. Who must be licensed
    • B. Producer Licensing Laws > 2. Who must be licensed > a. Solicit, negotiate or sell contracts of insurance
    • B. Producer Licensing Laws > 3. Producer qualifications and the licensing process
    • B. Producer Licensing Laws > 3. Producer qualifications and the licensing process > a. Pre-licensing education, state exam, license application
    • B. Producer Licensing Laws > 15.6-9, 27-1-15.6-16
    • B. Producer Licensing Laws > 15.6-9, 27-1-15.6-16 > b. Denial of license application
    • B. Producer Licensing Laws > 15.6-9, 27-1-15.6-16 > b. Denial of license application > i. Appeals process/Notice of hearing
    • B. Producer Licensing Laws > 4. Insurance Company: Producer appointments and termination
    • B. Producer Licensing Laws > 5. Limitations of a Producer
    • B. Producer Licensing Laws > 5. Limitations of a Producer > a. Controlled business
    • B. Producer Licensing Laws > 5. Limitations of a Producer > b. Acting as a Consultant
    • B. Producer Licensing Laws > 5. Limitations of a Producer > c. Fees and commissions
    • B. Producer Licensing Laws > 6. Producer’s License Maintenance
    • B. Producer Licensing Laws > 6. Producer’s License Maintenance > a. Producer notification requirements
    • B. Producer Licensing Laws > 15.6-17
    • B. Producer Licensing Laws > 15.6-17 > i. Change of legal or assumed name
    • B. Producer Licensing Laws > 15.6-17 > ii. Change of contact information; business, email and/or residential address
    • B. Producer Licensing Laws > 15.6-17 > iii. Criminal or administrative action
    • B. Producer Licensing Laws > 15.6-17 > b. License renewal/reinstatement process
    • B. Producer Licensing Laws > 15.6-17 > c. Continuing Education (CE) requirements
    • B. Producer Licensing Laws > 15.6-17 > d. Sircon license & CE tracking system
    • B. Producer Licensing Laws > 15.6-17 > d. Sircon license & CE tracking system > i. Producer Responsibilities
    • C. Producer/Company Compliance
    • C. Producer/Company Compliance > 1. Producer Licensing Law &Violations
    • C. Producer/Company Compliance > 2. Unfair Competition Law &Violations
    • C. Producer/Company Compliance > 3. Definitions
    • C. Producer/Company Compliance > 3. Definitions > a. Twisting
    • C. Producer/Company Compliance > 3. Definitions > b. Rebating
    • C. Producer/Company Compliance > 3. Definitions > c. Sharing commissions with an unlicensed person
    • C. Producer/Company Compliance > 3. Definitions > d. Defamation
    • C. Producer/Company Compliance > 3. Definitions > e. False advertising
    • C. Producer/Company Compliance > 3. Definitions > f. Misrepresentation
    • C. Producer/Company Compliance > 3. Definitions > g. Boycott, coercion, and intimidation
    • C. Producer/Company Compliance > 3. Definitions > h. Unfair discrimination
    • C. Producer/Company Compliance > 4. Penalties/Disciplinary Actions
    • C. Producer/Company Compliance > 4. Penalties/Disciplinary Actions > a. Penalty for violating Licensing law
    • C. Producer/Company Compliance > 4. Penalties/Disciplinary Actions > b. Penalty for violating Unfair Competition Law
    • C. Producer/Company Compliance > 4. Penalties/Disciplinary Actions > c. Penalty for violating Cease and Desist Orders
    • C. Producer/Company Compliance > 4. Penalties/Disciplinary Actions > d. Criminal violations
    • D. Unfair Claims Settlement Practices
  • II. LIFE REGULATIONS 10
    • A. Policies and Contracts
    • A. Policies and Contracts > 1. Policy provisions
    • A. Policies and Contracts > 1. Policy provisions > a. Backdating
    • A. Policies and Contracts > 1. Policy provisions > b. Right to examine (Free Look)
    • A. Policies and Contracts > 1. Policy provisions > c. Payment of claims
    • A. Policies and Contracts > 1. Policy provisions > d. Incontestability
    • A. Policies and Contracts > 2. Underwriting restrictions
    • A. Policies and Contracts > 3. Interest on loans
    • A. Policies and Contracts > 4. Interest on death benefits
    • A. Policies and Contracts > 5. Accelerated death benefits
    • A. Policies and Contracts > 6. Viatical settlements
    • B. Marketing Practices
    • B. Marketing Practices > 1. Advertising
    • B. Marketing Practices > 2. Solicitation
    • B. Marketing Practices > 2. Solicitation > a. Purpose
    • B. Marketing Practices > 2. Solicitation > b. Documentation
    • B. Marketing Practices > 2. Solicitation > c. Buyer’s Guide and Policy Summary
    • B. Marketing Practices > 2. Solicitation > d. Duties of producers
    • B. Marketing Practices > 3. Replacement
    • B. Marketing Practices > 3. Replacement > a. Definition of replacement
    • B. Marketing Practices > 3. Replacement > b. Purpose
    • B. Marketing Practices > 3. Replacement > c. Free look
    • B. Marketing Practices > 3. Replacement > d. Duties of producers
    • B. Marketing Practices > 3. Replacement > e. Duties of insurers
    • C. Business and Group Life
    • C. Business and Group Life > 1. Eligible groups
    • C. Business and Group Life > 2. Conversion rights to individual policy
    • C. Business and Group Life > 3. Insurable Interest on Employees
Examination sources