LA Life Insurance Series 101 Exam SCRIPT
2026/2027 QUESTIONS WITH ANSWERS
RATED A+
• Which of the following is NOT a purpose of the rule regarding replacement of Life
Insurance? -✓✓ Regulate the replacement of Insurance by the consumer
• Which of the following is NOT an example of a prohibited practice? -✓✓ Backdating
• When demanded, Hearing are held: -✓✓ Within 30 days after the date a hearing is
demanded
• Which of the following is not a standard or requirement for an illustration? -✓✓
Guaranteed elements must be labeled as such, but non-guaranteed elements need not
to be labeled
• Which of the following statements is NOT correct? -✓✓ In lieu of fines, the
Commissioner may have a producer imprisoned for up to one year.
• How many credit hours of continuing education must a producer complete every
renewal period? -✓✓ 24 ( with at 3 hours in ethics)
• Which of the following statements is FALSE with respect to HIV testing? -✓✓ A person
may not Opt-Out of HIV testing
• With regard to examinations, Which of the following statements is NOT correct? -✓✓
The expense of examination of an insurer or of any person is paid by the Department
• Which of the following CORRECTLY describes the practice of Twisting? -✓✓
Misleading and convincing an insured to surrender, lapse, or exchange an existing
policy for a different one, to the insured's detriment.
• Which of the following statements is TRUE with respect to assumed names? -✓✓ An
agent who will be transacting business in Louisiana under an assumed name must
notify the Commissioner prior to using the assumed name.
• Which of the following statements is FALSE regarding requirements for accelerated
benefits? -✓✓ Accelerated benefits effective for illness immediately upon the effective
date.
• An initial privacy notice is NOT required to be provided to: -✓✓ A prospective customer
, • When do individual producer licenses expire? -✓✓ April 30th of each even-numbered
year.
• Which of the following statements is TRUE regarding accelerated benefits? -✓✓
Accelerated benefits must provide for a lump sum benefit option.
• With regard to examinations by the Commissioner, the Commissioner: -✓✓ Must
conduct a financial examination of an insurer at least once every 5 years.
• Which of the following statements is true with respect to supplemental illustrations? -
✓✓ A supplemental illustration must be accompanied by or preceded by a basic
illustration.
• For those individuals who have health issues, Which of the following would be an
insurance plan to consider? -✓✓ Group
• When must licensees provide privacy notices to individual customers? -✓✓ Annually
• The investor must do all of the following in a STOLI/IOLI transaction, EXCEPT: -✓✓
Fill out the application for Life Insurance on behalf of the Insured.
• Which of the following best describes a statement of Good Health? -✓✓ It verifies that
the insured has not suffered a serious illness or injury requiring surgery or
hospitalization since the application date.
• Which of the following is FALSE concerning licensing for the Variable products? -✓✓
An agent must be licensed as a Life agent in order to sell a registered Variable contract.
• B was 42 when the Life Insurance policy was issued. 42 is referred to as the
_________ age of the policy. -✓✓ Original
• Which of the following would be considered a good result from an underwriter's action
when an individual Life Insurance policy is issued as applied for? -✓✓ Issued Standard
• All of the following are TRUE regarding Life Insurance advertising, EXCEPT: -✓✓ An
insurer may use the name of it's parent company in advertisements.
• Which of the following is INCORRECT with regard to commissions and compensation?
-✓✓ An insurer may pay a commission to an unlicensed producer who is appointed by
the insurer.
• If it is known or should be known by the agent that an existing policy is going to be
lapsed, forfeited, surrendered or terminated in favor of a new policy, the agent must
submit a : -✓✓ Notice of Replacement
2026/2027 QUESTIONS WITH ANSWERS
RATED A+
• Which of the following is NOT a purpose of the rule regarding replacement of Life
Insurance? -✓✓ Regulate the replacement of Insurance by the consumer
• Which of the following is NOT an example of a prohibited practice? -✓✓ Backdating
• When demanded, Hearing are held: -✓✓ Within 30 days after the date a hearing is
demanded
• Which of the following is not a standard or requirement for an illustration? -✓✓
Guaranteed elements must be labeled as such, but non-guaranteed elements need not
to be labeled
• Which of the following statements is NOT correct? -✓✓ In lieu of fines, the
Commissioner may have a producer imprisoned for up to one year.
• How many credit hours of continuing education must a producer complete every
renewal period? -✓✓ 24 ( with at 3 hours in ethics)
• Which of the following statements is FALSE with respect to HIV testing? -✓✓ A person
may not Opt-Out of HIV testing
• With regard to examinations, Which of the following statements is NOT correct? -✓✓
The expense of examination of an insurer or of any person is paid by the Department
• Which of the following CORRECTLY describes the practice of Twisting? -✓✓
Misleading and convincing an insured to surrender, lapse, or exchange an existing
policy for a different one, to the insured's detriment.
• Which of the following statements is TRUE with respect to assumed names? -✓✓ An
agent who will be transacting business in Louisiana under an assumed name must
notify the Commissioner prior to using the assumed name.
• Which of the following statements is FALSE regarding requirements for accelerated
benefits? -✓✓ Accelerated benefits effective for illness immediately upon the effective
date.
• An initial privacy notice is NOT required to be provided to: -✓✓ A prospective customer
, • When do individual producer licenses expire? -✓✓ April 30th of each even-numbered
year.
• Which of the following statements is TRUE regarding accelerated benefits? -✓✓
Accelerated benefits must provide for a lump sum benefit option.
• With regard to examinations by the Commissioner, the Commissioner: -✓✓ Must
conduct a financial examination of an insurer at least once every 5 years.
• Which of the following statements is true with respect to supplemental illustrations? -
✓✓ A supplemental illustration must be accompanied by or preceded by a basic
illustration.
• For those individuals who have health issues, Which of the following would be an
insurance plan to consider? -✓✓ Group
• When must licensees provide privacy notices to individual customers? -✓✓ Annually
• The investor must do all of the following in a STOLI/IOLI transaction, EXCEPT: -✓✓
Fill out the application for Life Insurance on behalf of the Insured.
• Which of the following best describes a statement of Good Health? -✓✓ It verifies that
the insured has not suffered a serious illness or injury requiring surgery or
hospitalization since the application date.
• Which of the following is FALSE concerning licensing for the Variable products? -✓✓
An agent must be licensed as a Life agent in order to sell a registered Variable contract.
• B was 42 when the Life Insurance policy was issued. 42 is referred to as the
_________ age of the policy. -✓✓ Original
• Which of the following would be considered a good result from an underwriter's action
when an individual Life Insurance policy is issued as applied for? -✓✓ Issued Standard
• All of the following are TRUE regarding Life Insurance advertising, EXCEPT: -✓✓ An
insurer may use the name of it's parent company in advertisements.
• Which of the following is INCORRECT with regard to commissions and compensation?
-✓✓ An insurer may pay a commission to an unlicensed producer who is appointed by
the insurer.
• If it is known or should be known by the agent that an existing policy is going to be
lapsed, forfeited, surrendered or terminated in favor of a new policy, the agent must
submit a : -✓✓ Notice of Replacement
