LA Life Insurance Series 101 Exam
Questions With Correct Answers
Which type of rider pays out a capital sum in case an insured loses a
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limb or their eyesight? - ANSWER✔✔✔-Accidental Death and
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Dismemberment
If a policyowner of a convertible term life insurance policy exercises
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his/her right to convert, which of the following will happen? -
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ANSWER✔✔✔-The term policy will be replaced by a permanent life | | | | | | | | | |
insurance policy |
Which of the following is NOT a purpose of the rule regarding
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replacement of Life Insurance? - ANSWER✔✔✔-Regulate the
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replacement of Insurance by the consumer
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Which of the following is NOT an example of a prohibited practice? -
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ANSWER✔✔✔-Backdating
When demanded, Hearing are held: - ANSWER✔✔✔-Within 30 days
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after the date a hearing is demanded
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,Which of the following is not a standard or requirement for an
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illustration? - ANSWER✔✔✔-Guaranteed elements must be labeled as
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such, but non-guaranteed elements need not to be labeled
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Which of the following statements is NOT correct? - ANSWER✔✔✔-In
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lieu of fines, the Commissioner may have a producer imprisoned for up
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to one year.
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How many credit hours of continuing education must a producer
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complete every renewal period? - ANSWER✔✔✔-24 ( with at 3 hours in
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ethics)
Which of the following statements is FALSE with respect to HIV testing?
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- ANSWER✔✔✔-A person may not Opt-Out of HIV testing
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With regard to examinations, Which of the following statements is NOT
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correct? - ANSWER✔✔✔-The expense of examination of an insurer or
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of any person is paid by the Department
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Which of the following CORRECTLY describes the practice of Twisting? -
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ANSWER✔✔✔-Misleading and convincing an insured to surrender, | | | | | | |
lapse, or exchange an existing policy for a different one, to the insured's
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detriment.
, Which of the following statements is TRUE with respect to assumed
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names? - ANSWER✔✔✔-An agent who will be transacting business in
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Louisiana under an assumed name must notify the Commissioner prior
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to using the assumed name.
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Which of the following statements is FALSE regarding requirements for
| | | | | | | | | |
accelerated benefits? - ANSWER✔✔✔-Accelerated benefits effective for
| | | | | |
illness immediately upon the effective date.
| | | | | |
An initial privacy notice is NOT required to be provided to: -
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ANSWER✔✔✔-A prospective customer | |
When do individual producer licenses expire? - ANSWER✔✔✔-April
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30th of each even-numbered year.
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Which of the following statements is TRUE regarding accelerated
| | | | | | | | |
benefits? - ANSWER✔✔✔-Accelerated benefits must provide for a lump
| | | | | | | |
sum benefit option.
| | |
With regard to examinations by the Commissioner, the Commissioner: -
| | | | | | | | | |
ANSWER✔✔✔-Must conduct a financial examination of an insurer at | | | | | | | | |
least once every 5 years.
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Questions With Correct Answers
Which type of rider pays out a capital sum in case an insured loses a
| | | | | | | | | | | | | | |
limb or their eyesight? - ANSWER✔✔✔-Accidental Death and
| | | | | | | |
Dismemberment
If a policyowner of a convertible term life insurance policy exercises
| | | | | | | | | | |
his/her right to convert, which of the following will happen? -
| | | | | | | | | | |
ANSWER✔✔✔-The term policy will be replaced by a permanent life | | | | | | | | | |
insurance policy |
Which of the following is NOT a purpose of the rule regarding
| | | | | | | | | | | |
replacement of Life Insurance? - ANSWER✔✔✔-Regulate the
| | | | | | |
replacement of Insurance by the consumer
| | | | |
Which of the following is NOT an example of a prohibited practice? -
| | | | | | | | | | | | |
ANSWER✔✔✔-Backdating
When demanded, Hearing are held: - ANSWER✔✔✔-Within 30 days
| | | | | | | | |
after the date a hearing is demanded
| | | | | |
,Which of the following is not a standard or requirement for an
| | | | | | | | | | | |
illustration? - ANSWER✔✔✔-Guaranteed elements must be labeled as
| | | | | | | |
such, but non-guaranteed elements need not to be labeled
| | | | | | | |
Which of the following statements is NOT correct? - ANSWER✔✔✔-In
| | | | | | | | | |
lieu of fines, the Commissioner may have a producer imprisoned for up
| | | | | | | | | | | |
to one year.
| |
How many credit hours of continuing education must a producer
| | | | | | | | | |
complete every renewal period? - ANSWER✔✔✔-24 ( with at 3 hours in
| | | | | | | | | | | |
ethics)
Which of the following statements is FALSE with respect to HIV testing?
| | | | | | | | | | |
- ANSWER✔✔✔-A person may not Opt-Out of HIV testing
| | | | | | | | |
With regard to examinations, Which of the following statements is NOT
| | | | | | | | | | |
correct? - ANSWER✔✔✔-The expense of examination of an insurer or
| | | | | | | | | |
of any person is paid by the Department
| | | | | | |
Which of the following CORRECTLY describes the practice of Twisting? -
| | | | | | | | | | |
ANSWER✔✔✔-Misleading and convincing an insured to surrender, | | | | | | |
lapse, or exchange an existing policy for a different one, to the insured's
| | | | | | | | | | | | |
detriment.
, Which of the following statements is TRUE with respect to assumed
| | | | | | | | | | |
names? - ANSWER✔✔✔-An agent who will be transacting business in
| | | | | | | | | |
Louisiana under an assumed name must notify the Commissioner prior
| | | | | | | | | |
to using the assumed name.
| | | |
Which of the following statements is FALSE regarding requirements for
| | | | | | | | | |
accelerated benefits? - ANSWER✔✔✔-Accelerated benefits effective for
| | | | | |
illness immediately upon the effective date.
| | | | | |
An initial privacy notice is NOT required to be provided to: -
| | | | | | | | | | | |
ANSWER✔✔✔-A prospective customer | |
When do individual producer licenses expire? - ANSWER✔✔✔-April
| | | | | | | |
30th of each even-numbered year.
| | | |
Which of the following statements is TRUE regarding accelerated
| | | | | | | | |
benefits? - ANSWER✔✔✔-Accelerated benefits must provide for a lump
| | | | | | | |
sum benefit option.
| | |
With regard to examinations by the Commissioner, the Commissioner: -
| | | | | | | | | |
ANSWER✔✔✔-Must conduct a financial examination of an insurer at | | | | | | | | |
least once every 5 years.
| | | |
