1
LA Life Insurance Series 101 Questions With 100%
Correct Answers!!
Which type of rider pays out a capital sum in case an insured loses a limb or their
eyesight? - (answers)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? - (answers)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? - (answers)Regulate the replacement of Insurance by the consumer
Which of the following is NOT an example of a prohibited practice? -
(answers)Backdating
When demanded, Hearing are held: - (answers)Within 30 days after the date a
hearing is demanded
Which of the following is not a standard or requirement for an illustration? -
(answers)Guaranteed elements must be labeled as such, but non-guaranteed
elements need not to be labeled
Which of the following statements is NOT correct? - (answers)In lieu of fines, the
Commissioner may have a producer imprisoned for up to one year.
, 2
How many credit hours of continuing education must a producer complete every
renewal period? - (answers)24 ( with at 3 hours in ethics)
Which of the following statements is FALSE with respect to HIV testing? -
(answers)A person may not Opt-Out of HIV testing
With regard to examinations, Which of the following statements is NOT correct? -
(answers)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? -
(answers)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? -
(answers)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? - (answers)Accelerated benefits effective for illness
immediately upon the effective date.
An initial privacy notice is NOT required to be provided to: - (answers)A
prospective customer
, 3
When do individual producer licenses expire? - (answers)April 30th of each even-
numbered year.
Which of the following statements is TRUE regarding accelerated benefits? -
(answers)Accelerated benefits must provide for a lump sum benefit option.
With regard to examinations by the Commissioner, the Commissioner: -
(answers)Must conduct a financial examination of an insurer at least once every 5
years.
Which of the following statements is true with respect to supplemental
illustrations? - (answers)A supplemental illustration must be accompanied by or
preceded by a basic illustration.
For those individuals who have health issues, Which of the following would be an
insurance plan to consider? - (answers)Group
When must licensees provide privacy notices to individual customers? -
(answers)Annually
The investor must do all of the following in a STOLI/IOLI transaction, EXCEPT: -
(answers)Fill out the application for Life Insurance on behalf of the Insured.
LA Life Insurance Series 101 Questions With 100%
Correct Answers!!
Which type of rider pays out a capital sum in case an insured loses a limb or their
eyesight? - (answers)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? - (answers)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? - (answers)Regulate the replacement of Insurance by the consumer
Which of the following is NOT an example of a prohibited practice? -
(answers)Backdating
When demanded, Hearing are held: - (answers)Within 30 days after the date a
hearing is demanded
Which of the following is not a standard or requirement for an illustration? -
(answers)Guaranteed elements must be labeled as such, but non-guaranteed
elements need not to be labeled
Which of the following statements is NOT correct? - (answers)In lieu of fines, the
Commissioner may have a producer imprisoned for up to one year.
, 2
How many credit hours of continuing education must a producer complete every
renewal period? - (answers)24 ( with at 3 hours in ethics)
Which of the following statements is FALSE with respect to HIV testing? -
(answers)A person may not Opt-Out of HIV testing
With regard to examinations, Which of the following statements is NOT correct? -
(answers)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? -
(answers)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? -
(answers)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? - (answers)Accelerated benefits effective for illness
immediately upon the effective date.
An initial privacy notice is NOT required to be provided to: - (answers)A
prospective customer
, 3
When do individual producer licenses expire? - (answers)April 30th of each even-
numbered year.
Which of the following statements is TRUE regarding accelerated benefits? -
(answers)Accelerated benefits must provide for a lump sum benefit option.
With regard to examinations by the Commissioner, the Commissioner: -
(answers)Must conduct a financial examination of an insurer at least once every 5
years.
Which of the following statements is true with respect to supplemental
illustrations? - (answers)A supplemental illustration must be accompanied by or
preceded by a basic illustration.
For those individuals who have health issues, Which of the following would be an
insurance plan to consider? - (answers)Group
When must licensees provide privacy notices to individual customers? -
(answers)Annually
The investor must do all of the following in a STOLI/IOLI transaction, EXCEPT: -
(answers)Fill out the application for Life Insurance on behalf of the Insured.
