LA Series 103 exam Newest 2025 Complete All
Questions And Correct Detailed Answers (Verified
Answers)|Already Graded A+
A guaranteed issued insurance policy has no - ans -medical
underwriting
A health care provider claim may be settled using which of the
following payment methods? - ans -Fee-for service
A health insurance policy where the insurer has the right to terminate
the policy owner's premiums, but NOT cancel the policy is called a(n) -
ans -guaranteed renewable policy
A health insurance policy where the insurer has the right to terminate
the policy for reasons other than the insured's health is called - ans -
conditionally renewable
A health insurance policy will typically cover - ans -preventative health
services
A licensed producer MUST be _____ by an insurer to be eligible for
soliciting insurance contracts - ans -appointed
A life insurance claim which involves a per capita distribution of policy
proceeds would be payable to the - ans -named living primary
beneficiaries
A life insurance company has transferred some of its risk to another
insurer. The insurer assuming the risk is called the - ans -reinsurer
,A life insurance policy normally contains a provision that restricts
coverage in the event of death under all of the following situations
EXCEPT - ans -fare-paying passenger
A life insurance policy sold in Louisiana can be contested by the insurer
only during the first ___ years of the contract - ans -two
A life insurance policy that contains a guaranteed interest rate with the
chance to earn a rate that is higher than the guaranteed rate is called -
ans -Universal life
A life insurance policy that has the premiums paid up within a select
time period is called - ans -limited payment insurance
A life insurance policy that is subject to a contract interest rate is
referred to as - ans -universal life
A life insurance policy which contains cash values that vary according to
its investment performance of stocks is called - ans -Variable whole life
A life insurance policy written on one contract for two people in which
it is payable upon the first death is called - ans -joint
A life insurance policy owner does not have the right to - ans -revoke an
absolute assignment
A life insurance policy owner was injured in an automobile accident
which results in a total and permanent disability. Which rider would pay
a monthly amount because of this disability? - ans -Disability Income
Rider
A life insurance replacement transaction could result in a/n - ans -
surrender charge
,A life insurance rider that allows an individual to purchase insurance as
they grow older, regardless of insurability is called a(n) - ans -
Guaranteed Insurability Rider
A limited payment whole life policy provides - ans -lifetime protection
A long term care policy typically provides all of the following levels of
care except - ans -acute care
A Louisiana insurance producer solicits a life insurance policy. In the
event of a controversy between the insured and the company, the
producer is considered to represent the - ans -company
A master contract and certificate of coverage can be found in which
type of policy - ans -Group
A medicare supplement basic benefit is - ans -the first 3 pints of blood a
year
A Medicare supplement plan can be cancelled by the insurer for - ans -
nonpayment of premiums
A medicare supplement policy can be cancelled by the insurer for - ans -
nonpayment
A Medicare Supplement Policy is - ans -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)
- ans -description of policy benefits
, A Medicare Supplement Policy must NOT contain benefits which - ans -
duplicate Medicare benefits
A newborn is required to be covered for ___ days from the moment of
birth - ans -31
A nonresident producer from a state outside of Louisiana may become
licensed in Louisiana IF a(n) - ans -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 - ans -Fee-for-service
A permanent life insurance policy where the policy owner pays
premiums for a specified number of years is called a(n) - ans -limited
pay policy
A person covered with an individual health plan - ans -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 - ans -Prefereed
A pharmacy benefit covers presctiption drugs derived from a list called
a(n) - ans -drug formulary
A policy owner can receive a percetage payment of the death benefits
prior to death by using what kind of contract? - ans -Viatical Settlement
Agreement
A policy owner is prohibited from taking any changes to the policy
without the beneficiary's written consent - ans -Irrevocable beneficiary
Questions And Correct Detailed Answers (Verified
Answers)|Already Graded A+
A guaranteed issued insurance policy has no - ans -medical
underwriting
A health care provider claim may be settled using which of the
following payment methods? - ans -Fee-for service
A health insurance policy where the insurer has the right to terminate
the policy owner's premiums, but NOT cancel the policy is called a(n) -
ans -guaranteed renewable policy
A health insurance policy where the insurer has the right to terminate
the policy for reasons other than the insured's health is called - ans -
conditionally renewable
A health insurance policy will typically cover - ans -preventative health
services
A licensed producer MUST be _____ by an insurer to be eligible for
soliciting insurance contracts - ans -appointed
A life insurance claim which involves a per capita distribution of policy
proceeds would be payable to the - ans -named living primary
beneficiaries
A life insurance company has transferred some of its risk to another
insurer. The insurer assuming the risk is called the - ans -reinsurer
,A life insurance policy normally contains a provision that restricts
coverage in the event of death under all of the following situations
EXCEPT - ans -fare-paying passenger
A life insurance policy sold in Louisiana can be contested by the insurer
only during the first ___ years of the contract - ans -two
A life insurance policy that contains a guaranteed interest rate with the
chance to earn a rate that is higher than the guaranteed rate is called -
ans -Universal life
A life insurance policy that has the premiums paid up within a select
time period is called - ans -limited payment insurance
A life insurance policy that is subject to a contract interest rate is
referred to as - ans -universal life
A life insurance policy which contains cash values that vary according to
its investment performance of stocks is called - ans -Variable whole life
A life insurance policy written on one contract for two people in which
it is payable upon the first death is called - ans -joint
A life insurance policy owner does not have the right to - ans -revoke an
absolute assignment
A life insurance policy owner was injured in an automobile accident
which results in a total and permanent disability. Which rider would pay
a monthly amount because of this disability? - ans -Disability Income
Rider
A life insurance replacement transaction could result in a/n - ans -
surrender charge
,A life insurance rider that allows an individual to purchase insurance as
they grow older, regardless of insurability is called a(n) - ans -
Guaranteed Insurability Rider
A limited payment whole life policy provides - ans -lifetime protection
A long term care policy typically provides all of the following levels of
care except - ans -acute care
A Louisiana insurance producer solicits a life insurance policy. In the
event of a controversy between the insured and the company, the
producer is considered to represent the - ans -company
A master contract and certificate of coverage can be found in which
type of policy - ans -Group
A medicare supplement basic benefit is - ans -the first 3 pints of blood a
year
A Medicare supplement plan can be cancelled by the insurer for - ans -
nonpayment of premiums
A medicare supplement policy can be cancelled by the insurer for - ans -
nonpayment
A Medicare Supplement Policy is - ans -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)
- ans -description of policy benefits
, A Medicare Supplement Policy must NOT contain benefits which - ans -
duplicate Medicare benefits
A newborn is required to be covered for ___ days from the moment of
birth - ans -31
A nonresident producer from a state outside of Louisiana may become
licensed in Louisiana IF a(n) - ans -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 - ans -Fee-for-service
A permanent life insurance policy where the policy owner pays
premiums for a specified number of years is called a(n) - ans -limited
pay policy
A person covered with an individual health plan - ans -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 - ans -Prefereed
A pharmacy benefit covers presctiption drugs derived from a list called
a(n) - ans -drug formulary
A policy owner can receive a percetage payment of the death benefits
prior to death by using what kind of contract? - ans -Viatical Settlement
Agreement
A policy owner is prohibited from taking any changes to the policy
without the beneficiary's written consent - ans -Irrevocable beneficiary
