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Life and Health Insurance Producer Exam

Medicare supplement (IA): practice questions

Our Life & Health Insurance bank has 3 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Iowa

Iowa's Medicare supplement open enrollment period is the six months beginning with the first month in which the individual is what?

  1. Enrolled in Medicare Part A, at any age
  2. Both 65 or older and enrolled in Medicare Part B
  3. Retired from employment and age 62 or older
  4. In a Medicare Advantage plan for a year
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B. Both 65 or older and enrolled in Medicare Part B — Iowa Admin. Code r. 191-37.21(1).

Question 2 · Iowa

How long is the right-to-return period for an Iowa Medicare supplement policy?

  1. 20 days from the application, only if no claim has been filed
  2. 10 days from delivery, less a reasonable administrative fee
  3. 30 days from delivery, with a full premium refund for any reason
  4. 60 days from the effective date, for first-time Medicare enrollees only
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C. 30 days from delivery, with a full premium refund for any reason — Iowa Admin. Code r. 191-37.28(1)(e).

Question 3 · Iowa

Under Iowa rules, a producer's first-year commission on a Medicare supplement sale may be no more than what?

  1. 150 percent of the average renewal commission
  2. 200 percent of the second-year commission
  3. 40 percent of the first-year annual premium
  4. The same amount as paid in every renewal year
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B. 200 percent of the second-year commission — Iowa Admin. Code r. 191-37.25(2).

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