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State statute · Iowa

Unfair methods of competition and unfair or deceptive acts defined

Iowa Code s. 507B.4

Publisher
Iowa Legislature
Edition
Iowa Code, retrieved 2026-08-28
Last checked
2026-08-28
Status
Iowa Code, public domain
Edition and licensing notes

Publisher. Iowa Legislature (legis.iowa.gov)

Status. Iowa Code, public domain.

Read the official textPractice questions from this source

What this document is

Iowa Code s. 507B.4: Unfair methods of competition and unfair or deceptive acts defined is a state statute published by Iowa Legislature (legis.iowa.gov). It is one of the Iowa documents that insurance license exam questions are written from, including iowa life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

  • Iowa Code § 507B.4(3)(c) (Defamation of financial condition)
    “any oral or written statement or any pamphlet, circular, article or literature which is false, or maliciously critical of or derogatory to the financial condition of any person, and which is calculated to injure such person.”
  • Iowa Code § 507B.4(3)(a)(1) (Misrepresentation of policy benefits and terms)
    “3. The following are hereby defined as unfair methods of competition and unfair or deceptive acts or practices in the business of insurance: a. Misrepresentations and false advertising of insurance policies. Making, issuing, circulating, or causing to be made, issued or circulated, any estimate,...”
  • Iowa Code § 507B.4(3)(a)(6) (Misrepresentation inducing lapse or surrender)
    “Is a misrepresentation for the purpose of inducing or tending to induce the lapse, forfeiture, exchange, conversion, or surrender of any insurance policy.”
  • Iowa Code § 507B.4(3)(i)(2)(d)(v) (Rebates: Value-Added Product or Service Exception)
    “(v) The availability of the value-added product or service shall be based on documented objective criteria and the value-added product or service must be offered to all customers in a nondiscriminatory manner. The documented objective criteria shall be maintained by the insurer or producer and...”
  • Iowa Code § 507B.4(3)(j) (Unfair Claim Settlement Practices)
    “j. Unfair claim settlement practices. Committing or performing with such frequency as to indicate a general business practice any of the following: (1) Misrepresenting pertinent facts or insurance policy provisions relating to coverages of issue. (2) Failing to acknowledge and act reasonably...”
  • Iowa Code § 507B.4(3)(g)(1) (Unfair Discrimination)
    “g. Unfair discrimination. (1) Making or permitting any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for any contract of life insurance or of life annuity or in the dividends or other benefits payable thereon, or in any other of the...”
  • Iowa Code § 507B.4(3)(a)(9) (Misrepresentation, burial and funeral policy titles)
    “Misrepresents any insurance policy to consumers by using the terms “burial insurance”, “funeral insurance”, “burial plan”, or “funeral plan” in its names or titles, unless the policy is made with a funeral provider as beneficiary who specifies and fixes a price under contract with an insurance company.”

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Iowa Life & Health practice test

Questions about this source

Iowa Code s. 507B.4: Unfair methods of competition and unfair or deceptive acts defined is a state statute published by Iowa Legislature (legis.iowa.gov). Edition: Iowa Code, retrieved 2026-08-28.

No. This page summarizes the document and links to the official version. Always rely on the text published by Iowa Legislature (legis.iowa.gov) for the current law.

Practice questions for Iowa Life & Health cite this document.

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