LA Life Insurance Series 101 Questions and answers with complete solution updated 100% PASS

LA Life Insurance Series 101 Questions and
answers with complete solution updated
100% PASS
Which type of rider pays out a capital sum in case an insured loses a limb or their eyesight? - Correct
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Answers Accidental Death and Dismemberment
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If a policyowner of a convertible term life insurance policy exercises his/her right to convert, which of the
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following will happen? - Correct Answers The term policy will be replaced by a permanent life insurance
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policy
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Which of the following is NOT a purpose of the rule regarding replacement of Life Insurance? - Correct
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Answers Regulate the replacement of Insurance by the consumer
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III Which of the following is NOT an example of a prohibited practice? - Correct Answers Backdating
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When demanded, Hearing are held: - Correct Answers Within 30 days after the date a hearing is
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demanded
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Which of the following is not a standard or requirement for an illustration? - Correct Answers Guaranteed
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elements must be labeled as such, but non-guaranteed elements need not to be labeled
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Which of the following statements is NOT correct? - Correct Answers In lieu of fines, the Commissioner
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may have a producer imprisoned for up to one year.
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How many credit hours of continuing education must a producer complete every renewal period? -
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Correct Answers 24 ( with at 3 hours in ethics)
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Which of the following statements is FALSE with respect to HIV testing? - Correct Answers A person may
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not Opt-Out of HIV testing
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, With regard to examinations, Which of the following statements is NOT correct? - Correct Answers The
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expense of examination of an insurer or of any person is paid by the Department
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Which of the following CORRECTLY describes the practice of Twisting? - Correct Answers Misleading and
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convincing an insured to surrender, lapse, or exchange an existing policy for a different one, to the
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insured's detriment.
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Which of the following statements is TRUE with respect to assumed names? - Correct Answers An agent
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who will be transacting business in 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? - Correct
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Answers Accelerated benefits effective for illness immediately upon the effective date.
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III An initial privacy notice is NOT required to be provided to: - Correct Answers A prospective customer
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III When do individual producer licenses expire? - Correct Answers April 30th of each even-numbered year.
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Which of the following statements is TRUE regarding accelerated benefits? - Correct Answers Accelerated
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benefits must provide for a lump sum benefit option.
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With regard to examinations by the Commissioner, the Commissioner: - Correct Answers Must conduct a
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financial examination of an insurer at least once every 5 years.
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Which of the following statements is true with respect to supplemental illustrations? - Correct Answers A
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supplemental illustration must be accompanied by or preceded by a basic illustration.
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For those individuals who have health issues, Which of the following would be an insurance plan to
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consider? - Correct Answers Group
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III When must licensees provide privacy notices to individual customers? - Correct Answers Annually
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