Louisiana Life and Health Insurance
All of the following long-term care coverages would allow an insured to receive care at home EXCEPT
a. Skilled Care
b. Custodial care in insured's house
c. Respite care
d. Home health care - Answer -a.
What is the purpose of a suicide provision within a life insurance policy? - Answer -To protect the insurer
from persons who purchase life insurance with the intention of committing suicide
Which of the following is not true of Disability Buy-Sell coverage ?
a. it is typically written to cover partners or corporate officers of a closely held business
b. Premium payments are not deductible to the business
c. the policies provide funds for the business organization to purchase the business interest of a disabled
partner
d. Benefits are considered taxable income to the business - Answer -Benefits are considered taxable
income to the business
All of the following statements about equity index annuities are correct EXCEPT
a. They invest on a more aggressive basis aiming for higher returns
, b. The annuitant receives a fixed amount of return
c. They have a guaranteed minimum interest rate
d. The interest rate is tied to an index such as the Standard & Poor's 500 - Answer -b
Which of the following would not be a violation of Louisiana insurance regulations?
a. Producer D collects premiums due on policies and deposits the funds in his own personal account
b. Producer A uses er license to write only insurance for herself and her immediate family
c. Producer B changes his clients, in addition to the premium, a consulting fee
d. Producer C uses her license to write uncontrolled business - Answer -d
The policy owner wants to make sure that upon his death, the life policy will pay a portion of the
proceeds annually to his spouse, but that the principal will be paid to their children when they reach a
certain age. What settlement option should the policy owner choose? - Answer -interest only option
What is the purpose of the rehabilitation benefit in disability insurance? - Answer -To cover the
expenses of retaining the insured to return to work
When a group health insurance plan is terminated, how long is an extension of benefits provided for any
totally disabled employee or dependent? - Answer -12 months
An individual purchased a Medicare supplement policy in March and decided to replace it 2 months
later. His history of coronary artery disease is considered a pre-existing condition. Which of the following
is true?
a. Coronary artery disease coverage will be permanently excluded from the new policy
b. In replacement, pre-existing conditions must be waived, so sickness relating to coronary artery
disease will be covered upon the policy's effective date
c. Because this is a new policy, the pre-existing condition waiting period starts over
d. The pre-existing condition waiting period is fulfilled in the old policy will be transferred to the new
policy, the new one picking up where the old one left off - Answer -D
All of the following are penalties for violating the statutes pertaining to sharing commissions EXCEPT
a. Additional continuing education in ethics
All of the following long-term care coverages would allow an insured to receive care at home EXCEPT
a. Skilled Care
b. Custodial care in insured's house
c. Respite care
d. Home health care - Answer -a.
What is the purpose of a suicide provision within a life insurance policy? - Answer -To protect the insurer
from persons who purchase life insurance with the intention of committing suicide
Which of the following is not true of Disability Buy-Sell coverage ?
a. it is typically written to cover partners or corporate officers of a closely held business
b. Premium payments are not deductible to the business
c. the policies provide funds for the business organization to purchase the business interest of a disabled
partner
d. Benefits are considered taxable income to the business - Answer -Benefits are considered taxable
income to the business
All of the following statements about equity index annuities are correct EXCEPT
a. They invest on a more aggressive basis aiming for higher returns
, b. The annuitant receives a fixed amount of return
c. They have a guaranteed minimum interest rate
d. The interest rate is tied to an index such as the Standard & Poor's 500 - Answer -b
Which of the following would not be a violation of Louisiana insurance regulations?
a. Producer D collects premiums due on policies and deposits the funds in his own personal account
b. Producer A uses er license to write only insurance for herself and her immediate family
c. Producer B changes his clients, in addition to the premium, a consulting fee
d. Producer C uses her license to write uncontrolled business - Answer -d
The policy owner wants to make sure that upon his death, the life policy will pay a portion of the
proceeds annually to his spouse, but that the principal will be paid to their children when they reach a
certain age. What settlement option should the policy owner choose? - Answer -interest only option
What is the purpose of the rehabilitation benefit in disability insurance? - Answer -To cover the
expenses of retaining the insured to return to work
When a group health insurance plan is terminated, how long is an extension of benefits provided for any
totally disabled employee or dependent? - Answer -12 months
An individual purchased a Medicare supplement policy in March and decided to replace it 2 months
later. His history of coronary artery disease is considered a pre-existing condition. Which of the following
is true?
a. Coronary artery disease coverage will be permanently excluded from the new policy
b. In replacement, pre-existing conditions must be waived, so sickness relating to coronary artery
disease will be covered upon the policy's effective date
c. Because this is a new policy, the pre-existing condition waiting period starts over
d. The pre-existing condition waiting period is fulfilled in the old policy will be transferred to the new
policy, the new one picking up where the old one left off - Answer -D
All of the following are penalties for violating the statutes pertaining to sharing commissions EXCEPT
a. Additional continuing education in ethics
