Louisiana Life, Health, and Accident Insurance Exam Questions
AND Correct Answers
"Maximum benefits" refers to the - ✔✔upper limit of the total
lifetime benefits the insurance company will pay
*A group Disability Income plan that pays tax-free benefits to covered
employees is considered? - ✔✔fully contributory
*An insurer has the right to recover payment made to the insured
from the negligent party. These right are called - ✔✔Subrogation
*Long-Term Care policies or certificates issued in Louisiana are
required to have - ✔✔a nonforfeiture value
*Which of the following is NOT a type of Medicare Advantage Plan? -
✔✔Social Security Disability Income (SSDI)
*Which of these annuities require premium payments that vary from
year to year? - ✔✔Flexible premium deferred annuity
*Which type of annuity stops all payments upon the death of the
annuitant? - ✔✔Life annuity
,The type of annuity in which all payments cease upon the death of an
annuitant is referred to as a life annuity.
*Which type of rider will waive the premium on a child's life insurance
policy if the parent paying the premium dies? - ✔✔Payor benefit
A beneficiary change can occur - ✔✔normally at any time during the
policy term
A business entity wishing to act as an insurance producer MUST
• obtain a producer's license
• obtain a certificate of authority
• secure a $500,000 bond
• meet specific annual sales levels - ✔✔Obtain a producer's license
A business entity wishing to act as an insurance producer MUST? -
✔✔Obtain a producer's license
A cease and desist order
• mav onlv be issued to producers
• may only be issued to insurers
,• forbids a stated practice listed in the order
• is issued when an insurer does not meet a minimum sales quota -
✔✔Forbids a stated practice listed in the order
A change in an insurance application requires - ✔✔an initial made by
the applicant
A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called
a(n)
• reciprocal insurer
• authorized insurer
• accepted insurer
• legal insurer - ✔✔Authorized Insurer
When a company is licensed by the Department of Insurance to do
business in this state, it becomes an authorized company.
A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called a(n) - ✔✔Authorized insurer
, A disability elimination period is best described as a - ✔✔time
deductible
A domestic insurance company in Louisiana MUST
• be organized under Louisiana insurance laws
• own real estate in Louisiana
• write insurance on risks located only in Louisiana
• honor the charter of the National Association of
Insurance Commissioners (NAIC) - ✔✔Be organized under Louisiana
Insurance Laws
A domestic insurance company in Louisiana MUST - ✔✔Be organized
under Louisiana insurance laws
A fee for service health insurance plan will normally cover? - ✔✔a
disease
Diseases are usually covered by fee for service health insurance plans.
A foreign insurance company doing business in
Louisiana
AND Correct Answers
"Maximum benefits" refers to the - ✔✔upper limit of the total
lifetime benefits the insurance company will pay
*A group Disability Income plan that pays tax-free benefits to covered
employees is considered? - ✔✔fully contributory
*An insurer has the right to recover payment made to the insured
from the negligent party. These right are called - ✔✔Subrogation
*Long-Term Care policies or certificates issued in Louisiana are
required to have - ✔✔a nonforfeiture value
*Which of the following is NOT a type of Medicare Advantage Plan? -
✔✔Social Security Disability Income (SSDI)
*Which of these annuities require premium payments that vary from
year to year? - ✔✔Flexible premium deferred annuity
*Which type of annuity stops all payments upon the death of the
annuitant? - ✔✔Life annuity
,The type of annuity in which all payments cease upon the death of an
annuitant is referred to as a life annuity.
*Which type of rider will waive the premium on a child's life insurance
policy if the parent paying the premium dies? - ✔✔Payor benefit
A beneficiary change can occur - ✔✔normally at any time during the
policy term
A business entity wishing to act as an insurance producer MUST
• obtain a producer's license
• obtain a certificate of authority
• secure a $500,000 bond
• meet specific annual sales levels - ✔✔Obtain a producer's license
A business entity wishing to act as an insurance producer MUST? -
✔✔Obtain a producer's license
A cease and desist order
• mav onlv be issued to producers
• may only be issued to insurers
,• forbids a stated practice listed in the order
• is issued when an insurer does not meet a minimum sales quota -
✔✔Forbids a stated practice listed in the order
A change in an insurance application requires - ✔✔an initial made by
the applicant
A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called
a(n)
• reciprocal insurer
• authorized insurer
• accepted insurer
• legal insurer - ✔✔Authorized Insurer
When a company is licensed by the Department of Insurance to do
business in this state, it becomes an authorized company.
A company that is authorized by the Commissioner to transact
insurance business in Louisiana is called a(n) - ✔✔Authorized insurer
, A disability elimination period is best described as a - ✔✔time
deductible
A domestic insurance company in Louisiana MUST
• be organized under Louisiana insurance laws
• own real estate in Louisiana
• write insurance on risks located only in Louisiana
• honor the charter of the National Association of
Insurance Commissioners (NAIC) - ✔✔Be organized under Louisiana
Insurance Laws
A domestic insurance company in Louisiana MUST - ✔✔Be organized
under Louisiana insurance laws
A fee for service health insurance plan will normally cover? - ✔✔a
disease
Diseases are usually covered by fee for service health insurance plans.
A foreign insurance company doing business in
Louisiana
