LA SERIES 103 EXAM QUESTIONS WITH
100% CORRECT ANSWERS | LATEST
VERSION 2025/2026.
Maximum benefit refers to the - ANS upper limit of the total lifetime benefits the insurance
company will pay
____ is NOT an element of a valid contract - ANS Countersignature
______ life is designed to pay the balance of a loan if the insured dies before repayment of the
loan - ANS Credit
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 EXAM comprehensive
questions and verified answers| get it 100% ACCURATE!!
that exceed ___ of the individual's adjusted gross income. - ANS 7.50%
A beneficiary change can occur: - ANS normally at any time during the policy term.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,A beneficiary has just received a claim payment for a life insurance policy. Which of the
following is TRUE regarding federal income tax liability. - ANS No federal income tax is owed
on the life insurance proceeds.
A business entity wishing to act as an insurance producer MUST - ANS obtain a producer's
license.
A business will will typically use which type of life insurance to cover their employees? -
ANS Group Policy
A cease and decist order - ANS forbids a stated practice listed in the order.
A change in an insurance application requires - ANS an initial made by the applicant.
A clause that allows an insurer the right to terminate coverage at any anniversary date is called
a(n) - ANS optional renewability clause
A comman exclusion with Vision plans is - ANS lasik surgery
A company that is authorized by the Commissioner to transact insurance business in Louisiana
is called a(n) - ANS authorized insurer
A dependent child may remain on a parents health insurance beyond the age of 26 if the child -
ANS has a mental or physical handicap and remains dependent on the parent
A disability elimination period is best described as - ANS time deductible
A disability income policy can prevent an insured from earning a higher income than if he/she
were working by utilizing - ANS benefit limits
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,A doctor who accepts Medicare Assignment agrees to which of the following? - ANS Doctor
cannot charge more than Medicare's scheduled coverage
A domestic insurance company in Louisiana MUST - ANS be organized under Louisiana
insurance laws
A field underwriter's main task is - ANS to ensure an applicant's medical information is
accurate and complete.
A foreign insurance company doing business in Louisiana - ANS is a company that was
formed under the laws of another state.
A form of medical health insurance covering the treatment and care of gum - ANS Dental
expense insurance
A group Disability Income plan that pays tax-free benefits to covered employees is considered -
ANS fully contributory
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
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, 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
4 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
100% CORRECT ANSWERS | LATEST
VERSION 2025/2026.
Maximum benefit refers to the - ANS upper limit of the total lifetime benefits the insurance
company will pay
____ is NOT an element of a valid contract - ANS Countersignature
______ life is designed to pay the balance of a loan if the insured dies before repayment of the
loan - ANS Credit
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 EXAM comprehensive
questions and verified answers| get it 100% ACCURATE!!
that exceed ___ of the individual's adjusted gross income. - ANS 7.50%
A beneficiary change can occur: - ANS normally at any time during the policy term.
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,A beneficiary has just received a claim payment for a life insurance policy. Which of the
following is TRUE regarding federal income tax liability. - ANS No federal income tax is owed
on the life insurance proceeds.
A business entity wishing to act as an insurance producer MUST - ANS obtain a producer's
license.
A business will will typically use which type of life insurance to cover their employees? -
ANS Group Policy
A cease and decist order - ANS forbids a stated practice listed in the order.
A change in an insurance application requires - ANS an initial made by the applicant.
A clause that allows an insurer the right to terminate coverage at any anniversary date is called
a(n) - ANS optional renewability clause
A comman exclusion with Vision plans is - ANS lasik surgery
A company that is authorized by the Commissioner to transact insurance business in Louisiana
is called a(n) - ANS authorized insurer
A dependent child may remain on a parents health insurance beyond the age of 26 if the child -
ANS has a mental or physical handicap and remains dependent on the parent
A disability elimination period is best described as - ANS time deductible
A disability income policy can prevent an insured from earning a higher income than if he/she
were working by utilizing - ANS benefit limits
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,A doctor who accepts Medicare Assignment agrees to which of the following? - ANS Doctor
cannot charge more than Medicare's scheduled coverage
A domestic insurance company in Louisiana MUST - ANS be organized under Louisiana
insurance laws
A field underwriter's main task is - ANS to ensure an applicant's medical information is
accurate and complete.
A foreign insurance company doing business in Louisiana - ANS is a company that was
formed under the laws of another state.
A form of medical health insurance covering the treatment and care of gum - ANS Dental
expense insurance
A group Disability Income plan that pays tax-free benefits to covered employees is considered -
ANS fully contributory
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
3 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, 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
4 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
