1
LA Series 103 Exam (Newest 2025/2026
Update) 732 Actual Exam Questions &
Answers | Certified Solutions | 100 %
Correct | A Grade.
Quiz_________________?
Maximum benefit refers to the -
Answer☑️
upper limit of the total lifetime benefits the insurance company will pay
Quiz_________________?
____ is NOT an element of a valid contract -
Answer☑️
Countersignature
Quiz_________________?
______ life is designed to pay the balance of a loan if the insured dies before repayment of the loan -
Answer☑️
Credit
Quiz_________________?
A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPPA, this tax
will not be applied if the withdrawal is used for medical expenses that exceed ___ of the individual's
adjusted gross income. -
Answer☑️
, 7.50%
2
Quiz_________________?
A beneficiary change can occur: -
Answer☑️
normally at any time during the policy term.
Quiz_________________?
A beneficiary has just received a claim payment for a life insurance policy. Which of the following is
TRUE regarding federal income tax liability. -
Answer☑️
No federal income tax is owed on the life insurance proceeds.
Quiz_________________?
A business entity wishing to act as an insurance producer MUST -
Answer☑️
obtain a producer's license.
Quiz_________________?
A business will will typically use which type of life insurance to cover their employees? -
Answer☑️
Group Policy
Quiz_________________?
A cease and decist order -
Answer☑️
forbids a stated practice listed in the order.
Quiz_________________?
A change in an insurance application requires -
, Answer☑️
3
an initial made by the applicant.
Quiz_________________?
A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n) -
Answer☑️
optional renewability clause
Quiz_________________?
A comman exclusion with Vision plans is -
Answer☑️
lasik surgery
Quiz_________________?
A company that is authorized by the Commissioner to transact insurance business in Louisiana is called
a(n) -
Answer☑️
authorized insurer
Quiz_________________?
A dependent child may remain on a parents health insurance beyond the age of 26 if the child -
Answer☑️
has a mental or physical handicap and remains dependent on the parent
Quiz_________________?
A disability elimination period is best described as -
Answer☑️
time deductible
, Quiz_________________?
4
A disability income policy can prevent an insured from earning a higher income than if he/she were
working by utilizing -
Answer☑️
benefit limits
Quiz_________________?
A doctor who accepts Medicare Assignment agrees to which of the following? -
Answer☑️
Doctor cannot charge more than Medicare's scheduled coverage
Quiz_________________?
A domestic insurance company in Louisiana MUST -
Answer☑️
be organized under Louisiana insurance laws
Quiz_________________?
A field underwriter's main task is -
Answer☑️
to ensure an applicant's medical information is accurate and complete.
Quiz_________________?
A foreign insurance company doing business in Louisiana -
Answer☑️
is a company that was formed under the laws of another state.
Quiz_________________?
A form of medical health insurance covering the treatment and care of gum -
Answer☑️
LA Series 103 Exam (Newest 2025/2026
Update) 732 Actual Exam Questions &
Answers | Certified Solutions | 100 %
Correct | A Grade.
Quiz_________________?
Maximum benefit refers to the -
Answer☑️
upper limit of the total lifetime benefits the insurance company will pay
Quiz_________________?
____ is NOT an element of a valid contract -
Answer☑️
Countersignature
Quiz_________________?
______ life is designed to pay the balance of a loan if the insured dies before repayment of the loan -
Answer☑️
Credit
Quiz_________________?
A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPPA, this tax
will not be applied if the withdrawal is used for medical expenses that exceed ___ of the individual's
adjusted gross income. -
Answer☑️
, 7.50%
2
Quiz_________________?
A beneficiary change can occur: -
Answer☑️
normally at any time during the policy term.
Quiz_________________?
A beneficiary has just received a claim payment for a life insurance policy. Which of the following is
TRUE regarding federal income tax liability. -
Answer☑️
No federal income tax is owed on the life insurance proceeds.
Quiz_________________?
A business entity wishing to act as an insurance producer MUST -
Answer☑️
obtain a producer's license.
Quiz_________________?
A business will will typically use which type of life insurance to cover their employees? -
Answer☑️
Group Policy
Quiz_________________?
A cease and decist order -
Answer☑️
forbids a stated practice listed in the order.
Quiz_________________?
A change in an insurance application requires -
, Answer☑️
3
an initial made by the applicant.
Quiz_________________?
A clause that allows an insurer the right to terminate coverage at any anniversary date is called a(n) -
Answer☑️
optional renewability clause
Quiz_________________?
A comman exclusion with Vision plans is -
Answer☑️
lasik surgery
Quiz_________________?
A company that is authorized by the Commissioner to transact insurance business in Louisiana is called
a(n) -
Answer☑️
authorized insurer
Quiz_________________?
A dependent child may remain on a parents health insurance beyond the age of 26 if the child -
Answer☑️
has a mental or physical handicap and remains dependent on the parent
Quiz_________________?
A disability elimination period is best described as -
Answer☑️
time deductible
, Quiz_________________?
4
A disability income policy can prevent an insured from earning a higher income than if he/she were
working by utilizing -
Answer☑️
benefit limits
Quiz_________________?
A doctor who accepts Medicare Assignment agrees to which of the following? -
Answer☑️
Doctor cannot charge more than Medicare's scheduled coverage
Quiz_________________?
A domestic insurance company in Louisiana MUST -
Answer☑️
be organized under Louisiana insurance laws
Quiz_________________?
A field underwriter's main task is -
Answer☑️
to ensure an applicant's medical information is accurate and complete.
Quiz_________________?
A foreign insurance company doing business in Louisiana -
Answer☑️
is a company that was formed under the laws of another state.
Quiz_________________?
A form of medical health insurance covering the treatment and care of gum -
Answer☑️
