LA Life Insurance Series 101 Correct
100%
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.
Which of the following is INCORRECT with regard to commissions and compensation? -
ANSWER An insurer may pay a commission to an unlicensed producer who is
appointed by the insurer.
If it is known or should be known by the agent that an existing policy is going to be
lapsed, forfeited, surrendered or terminated in favor of a new policy, the agent must
submit a : - ANSWER Notice of Replacement
In order for an insurance company to determine if it will issue a policy, What document
must always be submitted for review? - ANSWER The Application
Which of the following are TRUE regarding the duties of insurers? - ANSWER
Replacement requirements do not apply to the existing insurer.
With regard to privacy regulation, a customer relationship is established when: -
ANSWER A consumer becomes a licensees policyholder or agrees to pay for financial
advice about insurance.
Which of the following is most likely to pay the highest premium for a disability income
policy all other factors being equal? - ANSWER Age 40, welder, tobacco user
What is the primary purpose of an annuity? - ANSWER To protect against outliving
ones income.
All of the following are TRUE regarding Credit Life, EXCEPT: - ANSWER The amount of
coverage can exceed the debt.
Alice finds she no longer is able to pay premiums on her 50,000.00 Whole Life Policy,
but needs that amount of protection for her family. Which Nonforfeiture Option provides
this protection? - ANSWER Extended Term
K owns a Variable Annuity with an assumed interest rate of 4%. If the actual
performance of the separate accounts is 5%, the affect on this months income benefit
check will be_____________. - ANSWER Higher
The cost of any required medical exams in the underwriting process is paid by the: -
ANSWER Insurer
An individual has secured a 12,000.00 loan from the Bank to purchase a boat, which is
scheduled for repayment in monthly installments over 48mos. Which Life Insurance
100%
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.
Which of the following is INCORRECT with regard to commissions and compensation? -
ANSWER An insurer may pay a commission to an unlicensed producer who is
appointed by the insurer.
If it is known or should be known by the agent that an existing policy is going to be
lapsed, forfeited, surrendered or terminated in favor of a new policy, the agent must
submit a : - ANSWER Notice of Replacement
In order for an insurance company to determine if it will issue a policy, What document
must always be submitted for review? - ANSWER The Application
Which of the following are TRUE regarding the duties of insurers? - ANSWER
Replacement requirements do not apply to the existing insurer.
With regard to privacy regulation, a customer relationship is established when: -
ANSWER A consumer becomes a licensees policyholder or agrees to pay for financial
advice about insurance.
Which of the following is most likely to pay the highest premium for a disability income
policy all other factors being equal? - ANSWER Age 40, welder, tobacco user
What is the primary purpose of an annuity? - ANSWER To protect against outliving
ones income.
All of the following are TRUE regarding Credit Life, EXCEPT: - ANSWER The amount of
coverage can exceed the debt.
Alice finds she no longer is able to pay premiums on her 50,000.00 Whole Life Policy,
but needs that amount of protection for her family. Which Nonforfeiture Option provides
this protection? - ANSWER Extended Term
K owns a Variable Annuity with an assumed interest rate of 4%. If the actual
performance of the separate accounts is 5%, the affect on this months income benefit
check will be_____________. - ANSWER Higher
The cost of any required medical exams in the underwriting process is paid by the: -
ANSWER Insurer
An individual has secured a 12,000.00 loan from the Bank to purchase a boat, which is
scheduled for repayment in monthly installments over 48mos. Which Life Insurance
