Life, Health, and Accident Insurance
Exam Louisiana Questions and Answers
Latest Version Already Passed
What is the primary purpose of an accidental death and dismemberment (AD\&D) insurance
policy?
✔✔A. To provide benefits for accidental death or severe injury
B. To offer coverage for major illnesses
C. To provide funeral expenses only
D. To cover only medical expenses
Which type of insurance policy provides coverage for a specified period and has no cash value?
✔✔A. Term life insurance
B. Whole life insurance
C. Universal life insurance
D. Variable life insurance
What is the main characteristic of a health maintenance organization (HMO)?
A. Covers out-of-network providers
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,✔✔B. Requires members to use a primary care physician for referrals
C. Allows for reimbursement of out-of-pocket medical expenses
D. Offers no preventive care services
In Louisiana, how long is the "free-look" period for an individual health insurance policy?
A. 10 days
B. 15 days
✔✔C. 20 days
D. 30 days
Which of the following is true about guaranteed issue health insurance policies?
A. They require a medical exam
✔✔B. They accept all applicants regardless of health condition
C. They are the most affordable option
D. They do not include prescription coverage
What does a life insurance policy’s "incontestability" clause mean?
✔✔A. The insurer cannot contest a claim after the policy has been in effect for two years
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,B. The insured cannot change beneficiaries
C. The insured is guaranteed to receive the full benefit amount
D. The insurer can cancel the policy after the second year
Which type of life insurance policy allows the insured to adjust their premium and death benefit
over time?
A. Term life insurance
B. Whole life insurance
✔✔C. Universal life insurance
D. Endowment life insurance
What happens if a policyholder does not pay their premium within the grace period?
A. The policyholder can apply for a new policy
✔✔B. The policy will lapse unless a late payment is made
C. The insurer will automatically renew the policy
D. The policy’s coverage will automatically increase
Which of the following is typically NOT covered by standard health insurance policies?
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, A. Prescription drugs
✔✔B. Cosmetic surgery
C. Hospital stays
D. Emergency room visits
In Louisiana, how long does an individual have to file a claim for a health insurance policy after
a covered incident occurs?
A. 30 days
✔✔B. 60 days
C. 90 days
D. 120 days
What type of health insurance provides coverage for an individual’s basic hospital expenses and
major medical costs?
A. Critical illness insurance
✔✔B. Major medical insurance
C. Accident insurance
D. Disability income insurance
4
Exam Louisiana Questions and Answers
Latest Version Already Passed
What is the primary purpose of an accidental death and dismemberment (AD\&D) insurance
policy?
✔✔A. To provide benefits for accidental death or severe injury
B. To offer coverage for major illnesses
C. To provide funeral expenses only
D. To cover only medical expenses
Which type of insurance policy provides coverage for a specified period and has no cash value?
✔✔A. Term life insurance
B. Whole life insurance
C. Universal life insurance
D. Variable life insurance
What is the main characteristic of a health maintenance organization (HMO)?
A. Covers out-of-network providers
1
,✔✔B. Requires members to use a primary care physician for referrals
C. Allows for reimbursement of out-of-pocket medical expenses
D. Offers no preventive care services
In Louisiana, how long is the "free-look" period for an individual health insurance policy?
A. 10 days
B. 15 days
✔✔C. 20 days
D. 30 days
Which of the following is true about guaranteed issue health insurance policies?
A. They require a medical exam
✔✔B. They accept all applicants regardless of health condition
C. They are the most affordable option
D. They do not include prescription coverage
What does a life insurance policy’s "incontestability" clause mean?
✔✔A. The insurer cannot contest a claim after the policy has been in effect for two years
2
,B. The insured cannot change beneficiaries
C. The insured is guaranteed to receive the full benefit amount
D. The insurer can cancel the policy after the second year
Which type of life insurance policy allows the insured to adjust their premium and death benefit
over time?
A. Term life insurance
B. Whole life insurance
✔✔C. Universal life insurance
D. Endowment life insurance
What happens if a policyholder does not pay their premium within the grace period?
A. The policyholder can apply for a new policy
✔✔B. The policy will lapse unless a late payment is made
C. The insurer will automatically renew the policy
D. The policy’s coverage will automatically increase
Which of the following is typically NOT covered by standard health insurance policies?
3
, A. Prescription drugs
✔✔B. Cosmetic surgery
C. Hospital stays
D. Emergency room visits
In Louisiana, how long does an individual have to file a claim for a health insurance policy after
a covered incident occurs?
A. 30 days
✔✔B. 60 days
C. 90 days
D. 120 days
What type of health insurance provides coverage for an individual’s basic hospital expenses and
major medical costs?
A. Critical illness insurance
✔✔B. Major medical insurance
C. Accident insurance
D. Disability income insurance
4
