Louisiana Life Insurance Final Exam
questions and answers already passed
A viatical transaction is used for which of the following - correct answer ✔✔A chronically ill
insured who needs to sell his life insurance policy to a third-party to settle medical and other
bills prior to death
An agent complete an application for insurance on the Addams family Mr. Adams writes a check
for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr. Adams
should understand which of the following - correct answer ✔✔He has made an offer to the
insurance company and no insurance is in effect until all requirements for underwriting his
policy or receipt in the policy is approved
The annual renewable term term ART - correct answer ✔✔Has no requirements for a proof of
insurability at renewal and a maximum age .
Insurance uses a pre-existing condition clause to prevent - correct answer ✔✔Adverse selection
Which of the following is an effective and legal way to deliver a policy - correct answer
✔✔Personal delivery by an agent mailing the policy to the policy owner giving the policy to an
agent of the policy owner
Which of the following statements is not true about the guaranteed insurability riderGIR? -
correct answer ✔✔The older the insured gets the more frequent the purchase option dates
What plan would likely meet the needs of two partners who want to create a buy sell
agreement and an inexpensive and simple funding plan? - correct answer ✔✔A joint life plan
which will provide a survivor money to buy out the deceased partners heirs.
, Which of the following is not a factor in determining the amount of life insurance policy
dividend - correct answer ✔✔Morbidity is a fact to use in determining health insurance
premiums not life insurance the correct answer is mobility
Which of the following is not a common use for annuities - correct answer ✔✔Pay legal fees
What guarantees states that if the policyholder discontinues payment of premiums the
policyholder can have access to the cash value of the policy policy - correct answer ✔✔Non-
forfeiture Provision
A qualified retirement plan that blends in our way with a profit sharing plan and I lost the
employer to deduct up to 25% of contributions made to all employeees It's called a - correct
answer ✔✔SEP is available to small employers contributions made two employees are
deductible up to 25% SEP
Which of the following is true about the waiver of premium rider on an insurance policy -
correct answer ✔✔The premiums are waived during the period of the disability there is usually
a waiting period for the benefit to kick in there is an additional premium charge for this
coverage all of the above
And example of coverage that can be purchased by a husband for his wife along with other
dependent family members is - correct answer ✔✔A family term Rider
Which of the following is true about the automatic premium lone Rider APL - correct answer
✔✔The writer gives the Company the Right to borrow against the policies cash value
Which of the following is a common element We need a curse that allows an insured to charge
lower premiums - correct answer ✔✔Higher interest earnings
What business continuation plan would be best for a furniture company owned by five partners
- correct answer ✔✔Entity plans are best for partnerships with several partners entity plan
questions and answers already passed
A viatical transaction is used for which of the following - correct answer ✔✔A chronically ill
insured who needs to sell his life insurance policy to a third-party to settle medical and other
bills prior to death
An agent complete an application for insurance on the Addams family Mr. Adams writes a check
for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr. Adams
should understand which of the following - correct answer ✔✔He has made an offer to the
insurance company and no insurance is in effect until all requirements for underwriting his
policy or receipt in the policy is approved
The annual renewable term term ART - correct answer ✔✔Has no requirements for a proof of
insurability at renewal and a maximum age .
Insurance uses a pre-existing condition clause to prevent - correct answer ✔✔Adverse selection
Which of the following is an effective and legal way to deliver a policy - correct answer
✔✔Personal delivery by an agent mailing the policy to the policy owner giving the policy to an
agent of the policy owner
Which of the following statements is not true about the guaranteed insurability riderGIR? -
correct answer ✔✔The older the insured gets the more frequent the purchase option dates
What plan would likely meet the needs of two partners who want to create a buy sell
agreement and an inexpensive and simple funding plan? - correct answer ✔✔A joint life plan
which will provide a survivor money to buy out the deceased partners heirs.
, Which of the following is not a factor in determining the amount of life insurance policy
dividend - correct answer ✔✔Morbidity is a fact to use in determining health insurance
premiums not life insurance the correct answer is mobility
Which of the following is not a common use for annuities - correct answer ✔✔Pay legal fees
What guarantees states that if the policyholder discontinues payment of premiums the
policyholder can have access to the cash value of the policy policy - correct answer ✔✔Non-
forfeiture Provision
A qualified retirement plan that blends in our way with a profit sharing plan and I lost the
employer to deduct up to 25% of contributions made to all employeees It's called a - correct
answer ✔✔SEP is available to small employers contributions made two employees are
deductible up to 25% SEP
Which of the following is true about the waiver of premium rider on an insurance policy -
correct answer ✔✔The premiums are waived during the period of the disability there is usually
a waiting period for the benefit to kick in there is an additional premium charge for this
coverage all of the above
And example of coverage that can be purchased by a husband for his wife along with other
dependent family members is - correct answer ✔✔A family term Rider
Which of the following is true about the automatic premium lone Rider APL - correct answer
✔✔The writer gives the Company the Right to borrow against the policies cash value
Which of the following is a common element We need a curse that allows an insured to charge
lower premiums - correct answer ✔✔Higher interest earnings
What business continuation plan would be best for a furniture company owned by five partners
- correct answer ✔✔Entity plans are best for partnerships with several partners entity plan
