Page | 1
LOUISIANA LIFE, HEALTH & ACCIDENT
INSURANCE SERIES 103 PRACTICE EXAM
BRAND NEW OFFICIAL QUESTIONS WITH
ANSWERS.
1. How does the per capita rule apply to proceeds from a life
insurance policy? - correct answer -The proceeds are divided
equally among living primary beneficiaries.
2. When a policy or certificate containing an accelerated benefit
provision is applied for or delivered, the producer is responsible
for providing the applicant a summary of coverage that includes
all of the following EXCEPT - correct answer -A detailed and
comprehensive summary of the accelerated benefit
3. The group conversion option is allowed for all of the following
EXCEPT - correct answer -During the annual benefits
enrollment period.
4. Which of the following is the most common method to
supplement Medicare coverage? - correct answer -Coverage
offered by private insurers
, Page | 2
5. Which of the following is TRUE of an equity-indexed annuity? -
correct answer -It has a guaranteed minimum interest rate.
6. Obtaining consumer information reports under false pretenses
is prosecutable by which of the following? - correct answer -
Fair Credit Reporting Act
7. Which is the primary purpose of Health Reimbursement
Accounts (HRAs)? - correct answer -To assist covered
employees with the payment of medical expenses on a high
deductible plan funded through pre-tax contributions.
8. Which of the following lists the three common types of
permanent individual life insurance? - correct answer -Variable
Life, Whole Life, Universal Life
9. How does a noncancelable policy differ from a guaranteed
renewable policy? - correct answer -With the noncancelable
policy the insurer may increase premiums only based on the
terms of the policy.
, Page | 3
10. A group conversion option may be used in all the following
instances EXCEPT - correct answer -A life-changing event,
such as marriage, divorce, or childbirth.
11. What is the return of premium rider? - correct answer -An
increasing amount of term insurance that always equals the
total of premiums paid up to the current point
12. Which type of life policy can be continued year after year
without a required medical examination but rates are
dependent on the insured's current age? - correct answer -
Renewable term
13. All of the following are common exclusions from loss found
in disability income policies EXCEPT for that incurred while -
correct answer -Committing a misdemeanor
14. What does it mean if a health policy is conditionally
renewable? - correct answer -Insurer may elect NOT to renew
only under conditions specified in the policy.
LOUISIANA LIFE, HEALTH & ACCIDENT
INSURANCE SERIES 103 PRACTICE EXAM
BRAND NEW OFFICIAL QUESTIONS WITH
ANSWERS.
1. How does the per capita rule apply to proceeds from a life
insurance policy? - correct answer -The proceeds are divided
equally among living primary beneficiaries.
2. When a policy or certificate containing an accelerated benefit
provision is applied for or delivered, the producer is responsible
for providing the applicant a summary of coverage that includes
all of the following EXCEPT - correct answer -A detailed and
comprehensive summary of the accelerated benefit
3. The group conversion option is allowed for all of the following
EXCEPT - correct answer -During the annual benefits
enrollment period.
4. Which of the following is the most common method to
supplement Medicare coverage? - correct answer -Coverage
offered by private insurers
, Page | 2
5. Which of the following is TRUE of an equity-indexed annuity? -
correct answer -It has a guaranteed minimum interest rate.
6. Obtaining consumer information reports under false pretenses
is prosecutable by which of the following? - correct answer -
Fair Credit Reporting Act
7. Which is the primary purpose of Health Reimbursement
Accounts (HRAs)? - correct answer -To assist covered
employees with the payment of medical expenses on a high
deductible plan funded through pre-tax contributions.
8. Which of the following lists the three common types of
permanent individual life insurance? - correct answer -Variable
Life, Whole Life, Universal Life
9. How does a noncancelable policy differ from a guaranteed
renewable policy? - correct answer -With the noncancelable
policy the insurer may increase premiums only based on the
terms of the policy.
, Page | 3
10. A group conversion option may be used in all the following
instances EXCEPT - correct answer -A life-changing event,
such as marriage, divorce, or childbirth.
11. What is the return of premium rider? - correct answer -An
increasing amount of term insurance that always equals the
total of premiums paid up to the current point
12. Which type of life policy can be continued year after year
without a required medical examination but rates are
dependent on the insured's current age? - correct answer -
Renewable term
13. All of the following are common exclusions from loss found
in disability income policies EXCEPT for that incurred while -
correct answer -Committing a misdemeanor
14. What does it mean if a health policy is conditionally
renewable? - correct answer -Insurer may elect NOT to renew
only under conditions specified in the policy.
