LA Series 103 Exam (Recent exam)
Questions Merged With Correct
Complete Verified Answers |
Already Graded A+ | 2026-2027
Latest Update!!!
____ is NOT an element of a valid contract - ANSWER-
Countersignature
____ is NOT an element of a valid contract. - ANSWER-
Countersignature
____ life is designed to pay the balance of a loan if the insured dies
before repayment of the loan - ANSWER-Credit
______ life is designed to pay the balance of a loan if the insured dies
before repayment of the loan - ANSWER-Credit
,"Maximum benefits" refers to the - ANSWER-upper limit of the total
lifetime benefits the insurance company will pay
A 10% excise tax is normally applied to an early withdrawal from an
IRA. According to HIPAA, this tax will not be applied if the withdrawal
is used for medical expenses that exceed __ of the individual's
adjusted gross income. - ANSWER-7.50%
A 10% excise tax is normally applied to an early withdrawal from an
IRA. According to HIPPA, this tax will not be applied if the withdrawal
is used for medical expenses that exceed ___ of the individual's
adjusted gross income. - ANSWER-7.50%
A beneficiary change can occur: - ANSWER-normally at any time
during the policy term
A beneficiary change can occur: - ANSWER-normally at any time
during the policy term.
A beneficiary has just received a claim payment for a life insurance
policy. Which of the following is TRUE regarding federal income tax
liability. - ANSWER-No federal income tax is owed on the life insurance
proceeds.
A beneficiary has just received a claim payment for a life insurance
policy. Which of the following is TRUE regarding the federal income
tax liability owed? - ANSWER-No federal income tax is owed on life
insurance proceeds
A business entity wishing to act as an insurance producer MUST -
ANSWER-obtain a producer's license
,A business entity wishing to act as an insurance producer MUST -
ANSWER-obtain a producer's license.
A business will typically use which type of life insurance to cover their
employees? - ANSWER-Group Policy
A business will typically use which type of life insurance to cover their
employees? - ANSWER-Group Policy
A cease and desist order - ANSWER-forbids a stated practice listed in
the order.
A cease and desist order - ANSWER-forbids a stated practice listed in
the order
A change in an insurance application requires - ANSWER-an initial
made by the applicant
A change in an insurance application requires - ANSWER-an initial
made by the applicant.
A clause that allows an insurer the right to terminate coverage at any
anniversary date is called a(n) - ANSWER-optional renewability clause
A clause that allows an insurer the right to terminate coverage at any
anniversary date is called a(n) - ANSWER-optional renewability clause
A common exclusion with Vision plans is - ANSWER-lasik surgery
A common exclusion with Vision plans is - ANSWER-lasik surgery
A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called a(n) - ANSWER-authorized
insurer
, A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called a(n) - ANSWER-authorized
insurer
A dependent child may remain on a parent’s health insurance beyond
the age of 26 if the child - ANSWER-has a mental or physical handicap
and remains dependent on the parent
A dependent child may remain on a parent’s health insurance plan
beyond age 26 if the child - ANSWER-has a mental or physical
handicap and remains dependent on the parent
A disability elimination period is best described as - ANSWER-time
deductible
A disability elimination period is best described as a - ANSWER-time
deductible
A disability income policy can prevent an insured from earning a
higher income than if he/she were working by utilizing - ANSWER-
benefit limits
A disability income policy can prevent an insured from earning a
higher income than if he/she were working by utilizing - ANSWER-
benefit limits
A doctor who accepts Medicare Assignment agrees to which of the
following? - ANSWER-Doctor cannot charge more than Medicare's
scheduled coverage
A doctor who accepts Medicare Assignment agrees to which of the
following? - ANSWER-Doctor cannot charge more than Medicare's
scheduled coverage
Questions Merged With Correct
Complete Verified Answers |
Already Graded A+ | 2026-2027
Latest Update!!!
____ is NOT an element of a valid contract - ANSWER-
Countersignature
____ is NOT an element of a valid contract. - ANSWER-
Countersignature
____ life is designed to pay the balance of a loan if the insured dies
before repayment of the loan - ANSWER-Credit
______ life is designed to pay the balance of a loan if the insured dies
before repayment of the loan - ANSWER-Credit
,"Maximum benefits" refers to the - ANSWER-upper limit of the total
lifetime benefits the insurance company will pay
A 10% excise tax is normally applied to an early withdrawal from an
IRA. According to HIPAA, this tax will not be applied if the withdrawal
is used for medical expenses that exceed __ of the individual's
adjusted gross income. - ANSWER-7.50%
A 10% excise tax is normally applied to an early withdrawal from an
IRA. According to HIPPA, this tax will not be applied if the withdrawal
is used for medical expenses that exceed ___ of the individual's
adjusted gross income. - ANSWER-7.50%
A beneficiary change can occur: - ANSWER-normally at any time
during the policy term
A beneficiary change can occur: - ANSWER-normally at any time
during the policy term.
A beneficiary has just received a claim payment for a life insurance
policy. Which of the following is TRUE regarding federal income tax
liability. - ANSWER-No federal income tax is owed on the life insurance
proceeds.
A beneficiary has just received a claim payment for a life insurance
policy. Which of the following is TRUE regarding the federal income
tax liability owed? - ANSWER-No federal income tax is owed on life
insurance proceeds
A business entity wishing to act as an insurance producer MUST -
ANSWER-obtain a producer's license
,A business entity wishing to act as an insurance producer MUST -
ANSWER-obtain a producer's license.
A business will typically use which type of life insurance to cover their
employees? - ANSWER-Group Policy
A business will typically use which type of life insurance to cover their
employees? - ANSWER-Group Policy
A cease and desist order - ANSWER-forbids a stated practice listed in
the order.
A cease and desist order - ANSWER-forbids a stated practice listed in
the order
A change in an insurance application requires - ANSWER-an initial
made by the applicant
A change in an insurance application requires - ANSWER-an initial
made by the applicant.
A clause that allows an insurer the right to terminate coverage at any
anniversary date is called a(n) - ANSWER-optional renewability clause
A clause that allows an insurer the right to terminate coverage at any
anniversary date is called a(n) - ANSWER-optional renewability clause
A common exclusion with Vision plans is - ANSWER-lasik surgery
A common exclusion with Vision plans is - ANSWER-lasik surgery
A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called a(n) - ANSWER-authorized
insurer
, A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called a(n) - ANSWER-authorized
insurer
A dependent child may remain on a parent’s health insurance beyond
the age of 26 if the child - ANSWER-has a mental or physical handicap
and remains dependent on the parent
A dependent child may remain on a parent’s health insurance plan
beyond age 26 if the child - ANSWER-has a mental or physical
handicap and remains dependent on the parent
A disability elimination period is best described as - ANSWER-time
deductible
A disability elimination period is best described as a - ANSWER-time
deductible
A disability income policy can prevent an insured from earning a
higher income than if he/she were working by utilizing - ANSWER-
benefit limits
A disability income policy can prevent an insured from earning a
higher income than if he/she were working by utilizing - ANSWER-
benefit limits
A doctor who accepts Medicare Assignment agrees to which of the
following? - ANSWER-Doctor cannot charge more than Medicare's
scheduled coverage
A doctor who accepts Medicare Assignment agrees to which of the
following? - ANSWER-Doctor cannot charge more than Medicare's
scheduled coverage
