Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
Select from the choices below the best description of a speculative risk?
- correct answer ✅Involving the possibility of a gain in addition to the
uncertainty of loss
If there is a material change in an MEC contract, what is the first thing
needing to be done? - correct answer ✅Another 7 pay test
Which of the following is not taxable? - correct answer ✅Fixed amount
installments
A premature distribution from a Roth IRA made before the age 59.5 is
subject to a 10% penalty tax unless: - correct answer ✅It was used as a
down payment on first home
Carlos cancels his life policy but instructs the insurance company to
transfer the cash value of his policy to an annuity. This non taxable
transaction is called? - correct answer ✅1035 Exchange
Which of the following is a disadvantage to setup and participate in a
qualified retirement plan? - correct answer ✅Immediate liquidity
All of these types of distributions that are exceptions to the 10%
penalty rule except: - correct answer ✅New car purchase
,Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
Which of the following does not describe a 401(K) characteristics -
correct answer ✅Currently $49,000 maximum contribution
The following are examples of Qualified Retirement Plans except: -
correct answer ✅501c(3)
Which of the following is not correct regarding Long Term Care - correct
answer ✅It provides different benefits for different levels of care
Medicare Select is a type of? - correct answer ✅Medicare Supplement
plan offered by an HMO
Which of the following statements is correct regarding Medicare
Advantage - correct answer ✅It can offer benefits that ate not covered
by regular Medicare
Which of the following is correct with regards to the hospital insurance
Part A plan of Medicare - correct answer ✅Insured must satisfy a
deductible
Which of the following statements is correct about Part B of Medicare -
correct answer ✅An annual deductible is required
,Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
All of the following examples of groups that purchase group health
insurance except: - correct answer ✅MEWA
The following are example of limited health plans except: - correct
answer ✅HMO
Ally wants a rider that will pay disability that social security will pay for
one year, assuming that social security should begin then. What type of
rider should she consider? - correct answer ✅Additional monthly
benefit (AMB)
How many QCs are necessary to be fully funded? - correct answer ✅40
If Bill has a type of disability plan that has benefits set at a percentage
of income, what type is it? - correct answer ✅Employer Group
Ally wants to make sure that her benefits for her disability policy keep
up with the rate of inflation, what type of rider should she consider -
correct answer ✅COLA
How many QCs are necessary to be deemed partially insured - correct
answer ✅6 in the last 13
, Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
If Jill has a type of disability plan that has benefits set at a flat amount
per month, what type is it? - correct answer ✅Individual
The period before benefits begin is termed as all of the following
except: - correct answer ✅Pre-benefit period
Which of the following does Coinsurance describe? - correct answer
✅a percentage the insured will pay after the deductible
If a health insurer does not pay a claim more than how many days after
required a 1% per month penalty will begin? - correct answer ✅25
days
How many days after receiving notice of a claim does an insurer have to
furnish proof of loss forms? - correct answer ✅15
If Martha wants to pay her daughter's college tuition, which of the
following can be used as an education annuity? - correct answer
✅Annuity Certain
The best description of a hazard is? - correct answer ✅Condition that
may increase the chance that a loss may occur
Practice Exam Test Questions &
Answers
Select from the choices below the best description of a speculative risk?
- correct answer ✅Involving the possibility of a gain in addition to the
uncertainty of loss
If there is a material change in an MEC contract, what is the first thing
needing to be done? - correct answer ✅Another 7 pay test
Which of the following is not taxable? - correct answer ✅Fixed amount
installments
A premature distribution from a Roth IRA made before the age 59.5 is
subject to a 10% penalty tax unless: - correct answer ✅It was used as a
down payment on first home
Carlos cancels his life policy but instructs the insurance company to
transfer the cash value of his policy to an annuity. This non taxable
transaction is called? - correct answer ✅1035 Exchange
Which of the following is a disadvantage to setup and participate in a
qualified retirement plan? - correct answer ✅Immediate liquidity
All of these types of distributions that are exceptions to the 10%
penalty rule except: - correct answer ✅New car purchase
,Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
Which of the following does not describe a 401(K) characteristics -
correct answer ✅Currently $49,000 maximum contribution
The following are examples of Qualified Retirement Plans except: -
correct answer ✅501c(3)
Which of the following is not correct regarding Long Term Care - correct
answer ✅It provides different benefits for different levels of care
Medicare Select is a type of? - correct answer ✅Medicare Supplement
plan offered by an HMO
Which of the following statements is correct regarding Medicare
Advantage - correct answer ✅It can offer benefits that ate not covered
by regular Medicare
Which of the following is correct with regards to the hospital insurance
Part A plan of Medicare - correct answer ✅Insured must satisfy a
deductible
Which of the following statements is correct about Part B of Medicare -
correct answer ✅An annual deductible is required
,Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
All of the following examples of groups that purchase group health
insurance except: - correct answer ✅MEWA
The following are example of limited health plans except: - correct
answer ✅HMO
Ally wants a rider that will pay disability that social security will pay for
one year, assuming that social security should begin then. What type of
rider should she consider? - correct answer ✅Additional monthly
benefit (AMB)
How many QCs are necessary to be fully funded? - correct answer ✅40
If Bill has a type of disability plan that has benefits set at a percentage
of income, what type is it? - correct answer ✅Employer Group
Ally wants to make sure that her benefits for her disability policy keep
up with the rate of inflation, what type of rider should she consider -
correct answer ✅COLA
How many QCs are necessary to be deemed partially insured - correct
answer ✅6 in the last 13
, Louisiana Life, Accident and Health
Practice Exam Test Questions &
Answers
If Jill has a type of disability plan that has benefits set at a flat amount
per month, what type is it? - correct answer ✅Individual
The period before benefits begin is termed as all of the following
except: - correct answer ✅Pre-benefit period
Which of the following does Coinsurance describe? - correct answer
✅a percentage the insured will pay after the deductible
If a health insurer does not pay a claim more than how many days after
required a 1% per month penalty will begin? - correct answer ✅25
days
How many days after receiving notice of a claim does an insurer have to
furnish proof of loss forms? - correct answer ✅15
If Martha wants to pay her daughter's college tuition, which of the
following can be used as an education annuity? - correct answer
✅Annuity Certain
The best description of a hazard is? - correct answer ✅Condition that
may increase the chance that a loss may occur
