LA SERIES 103 EXAM QUESTIONS AND
ANSWERS LATEST 2025-2026 UPDATE| GRADE
A+ GUARANTEE
A master contract and certificate of coverage can be found in which type
of policy - Answer-Group
A medicare supplement basic benefit is - Answer-the first 3 pints of
blood a year
A Medicare supplement plan can be cancelled by the insurer for -
Answer-nonpayment of premiums
A medicare supplement policy can be cancelled by the insurer for -
Answer-nonpayment
A Medicare Supplement Policy is - Answer-designed to fill in the gaps
of Part A and Part B Medicare
A Medicare Supplement policy's outline of coverage MUST include
a(n) - Answer-description of policy benefits
A Medicare Supplement Policy must NOT contain benefits which -
Answer-duplicate Medicare benefits
,A newborn is required to be covered for ___ days from the moment of
birth - Answer-31
A nonresident producer from a state outside of Louisiana may become
licensed in Louisiana IF a(n) - Answer-reciprocal arrangement exists
with the state of domicile
A payment system for health care in which the provider is paid for each
service given is called - Answer-Fee-for-service
A permanent life insurance policy where the policy owner pays
premiums for a specified number of years is called a(n) - Answer-limited
pay policy
A person covered with an individual health plan - Answer-is issued a
policy
A person who is a nonsmoker, of average weight, and in excellent
health would most likely be in which risk category - Answer-Prefereed
A pharmacy benefit covers presctiption drugs derived from a list called
a(n) - Answer-drug formulary
A policy owner can receive a percetage payment of the death benefits
prior to death by using what kind of contract? - Answer-Viatical
Settlement Agreement
,A policy owner is prohibited from taking any changes to the policy
without the beneficiary's written consent - Answer-Irrevocable
beneficiary
A policy owner may change two policy features on what type of life
insurance. - Answer-Adjustable life
A policy owner may exercise which of these dividend options that uses
the dividend to pay all of part of the next premium due? - Answer-
reduction of premium dividend option
A policy owner suffers an injury that renders him incapable of
performing one or more important job duties. Any decrease in income
resulting from this injury would make him eligible for benefits under
which provision - Answer-partial disability
A policy owner who anticipates death or develops a life-threatening
condition may obtain proceeds from a life insurance contract. These
proceeds are known as - Answer-accelerated benefits
A preexisting condition is a condition for which medical advice or
treatment was recommended by or received from a provider of health
care services with ___ months preceding a health policy's effective date
- Answer-six
, A producer license is NOT required when - Answer-Underwriting
insurance
A producer must notify the Commissioner within ___ days of a felony
conviction - Answer-30
A producer who sells most of his/her insurance policies to family
members is said to be engaging in - Answer-controlled business
A professional liability for which producers can be sued for mistakes
for putting a policy into effect is called - Answer-Errors and Omissions
A proposed insured for health insurance policy was treated for heart
disease within the past year. When applying for health insurance, the
heart disease treatment - Answer-indicates a preexisting condiction
A provision in a whole life policy that allows a policy owner to
terminate the policy in return for a reduced paid-up policy is called a(n) -
Answer-nonforfeiture provision
A provision that allows a policy owner to withdraw a policy's cash
value interest free is called a(n) - Answer-collateral assignment
A provision that allows a policy owner to withdraw a policy's cash
value interest free is a(n) - Answer-partial surrender
ANSWERS LATEST 2025-2026 UPDATE| GRADE
A+ GUARANTEE
A master contract and certificate of coverage can be found in which type
of policy - Answer-Group
A medicare supplement basic benefit is - Answer-the first 3 pints of
blood a year
A Medicare supplement plan can be cancelled by the insurer for -
Answer-nonpayment of premiums
A medicare supplement policy can be cancelled by the insurer for -
Answer-nonpayment
A Medicare Supplement Policy is - Answer-designed to fill in the gaps
of Part A and Part B Medicare
A Medicare Supplement policy's outline of coverage MUST include
a(n) - Answer-description of policy benefits
A Medicare Supplement Policy must NOT contain benefits which -
Answer-duplicate Medicare benefits
,A newborn is required to be covered for ___ days from the moment of
birth - Answer-31
A nonresident producer from a state outside of Louisiana may become
licensed in Louisiana IF a(n) - Answer-reciprocal arrangement exists
with the state of domicile
A payment system for health care in which the provider is paid for each
service given is called - Answer-Fee-for-service
A permanent life insurance policy where the policy owner pays
premiums for a specified number of years is called a(n) - Answer-limited
pay policy
A person covered with an individual health plan - Answer-is issued a
policy
A person who is a nonsmoker, of average weight, and in excellent
health would most likely be in which risk category - Answer-Prefereed
A pharmacy benefit covers presctiption drugs derived from a list called
a(n) - Answer-drug formulary
A policy owner can receive a percetage payment of the death benefits
prior to death by using what kind of contract? - Answer-Viatical
Settlement Agreement
,A policy owner is prohibited from taking any changes to the policy
without the beneficiary's written consent - Answer-Irrevocable
beneficiary
A policy owner may change two policy features on what type of life
insurance. - Answer-Adjustable life
A policy owner may exercise which of these dividend options that uses
the dividend to pay all of part of the next premium due? - Answer-
reduction of premium dividend option
A policy owner suffers an injury that renders him incapable of
performing one or more important job duties. Any decrease in income
resulting from this injury would make him eligible for benefits under
which provision - Answer-partial disability
A policy owner who anticipates death or develops a life-threatening
condition may obtain proceeds from a life insurance contract. These
proceeds are known as - Answer-accelerated benefits
A preexisting condition is a condition for which medical advice or
treatment was recommended by or received from a provider of health
care services with ___ months preceding a health policy's effective date
- Answer-six
, A producer license is NOT required when - Answer-Underwriting
insurance
A producer must notify the Commissioner within ___ days of a felony
conviction - Answer-30
A producer who sells most of his/her insurance policies to family
members is said to be engaging in - Answer-controlled business
A professional liability for which producers can be sued for mistakes
for putting a policy into effect is called - Answer-Errors and Omissions
A proposed insured for health insurance policy was treated for heart
disease within the past year. When applying for health insurance, the
heart disease treatment - Answer-indicates a preexisting condiction
A provision in a whole life policy that allows a policy owner to
terminate the policy in return for a reduced paid-up policy is called a(n) -
Answer-nonforfeiture provision
A provision that allows a policy owner to withdraw a policy's cash
value interest free is called a(n) - Answer-collateral assignment
A provision that allows a policy owner to withdraw a policy's cash
value interest free is a(n) - Answer-partial surrender
