Iowa Personal Lines Insurance License Exam — All Questions

Which agency issues resident personal lines insurance producer licenses in Iowa?

• a.Iowa Department of Insurance Commission
• b.Iowa Insurance Division✓
• c.The federal Department of Insurance
• d.Iowa Department of Motor Vehicles, Insurance Bureau

Insurance in Iowa is regulated at the state level by the Iowa Insurance Division, Iowa's insurance and securities regulator, which licenses producers, reviews rates and forms, and enforces the state insurance code. There is no federal insurance department. Source: Iowa Insurance Division (https://iid.iowa.gov/).

After a producer is licensed in Iowa, what generally must occur before he or she can transact business for a specific insurer?

• a.The producer must post a personal surety bond with the state treasurer
• b.The insurer must appoint the producer, and the appointment is filed with the Iowa Insurance Division✓
• c.Nothing further; the license alone authorizes sales for any insurer
• d.The producer must complete five supervised sales on a temporary permit

A license lets a person act as a producer, but to represent a particular company that insurer must appoint the producer, with the appointment recorded by the Iowa Insurance Division. A producer may hold appointments from several insurers at once, following the NAIC producer-licensing model.

Which statement about continuing education (CE) for resident personal lines producers in Iowa is correct?

• a.CE must be completed once, in the first year, and never again
• b.Resident producers must complete state-approved CE each renewal cycle to keep the license active; confirm the exact hours and ethics requirement with the Iowa Insurance Division✓
• c.Passing the licensing exam permanently exempts a producer from CE
• d.CE is optional and only suggested for newly licensed producers

Like other states, Iowa requires resident producers to complete approved continuing education every renewal cycle, typically including an ethics component. Specific hour totals change, so verify the current CE requirement with the Iowa Insurance Division (https://iid.iowa.gov/).