LA Series 103 Exam 2025/2026 Exam
Questions with 100% Correct Answers |
Latest Update
Maximum benefit refers to the - 🧠 ANSWER ✔✔upper limit of the total
lifetime benefits the insurance company will pay
____ is NOT an element of a valid contract - 🧠 ANSWER
✔✔Countersignature
______ life is designed to pay the balance of a loan if the insured dies
before repayment of the loan - 🧠 ANSWER ✔✔Credit
A 10% excise tax is normally applied to an early withdrawal from an IRA.
According to HIPPA, this tax will not be applied if the withdrawal is used for
medical expenses that exceed ___ of the individual's adjusted gross
income. - 🧠 ANSWER ✔✔7.50%
,A beneficiary change can occur: - 🧠 ANSWER ✔✔normally at any time
during the policy term.
A beneficiary has just received a claim payment for a life insurance policy.
Which of the following is TRUE regarding federal income tax liability. - 🧠
ANSWER ✔✔No federal income tax is owed on the life insurance
proceeds.
A business entity wishing to act as an insurance producer MUST - 🧠
ANSWER ✔✔obtain a producer's license.
A business will will typically use which type of life insurance to cover their
employees? - 🧠 ANSWER ✔✔Group Policy
A cease and decist order - 🧠 ANSWER ✔✔forbids a stated practice listed in
the order.
A change in an insurance application requires - 🧠 ANSWER ✔✔an initial
made by the applicant.
A clause that allows an insurer the right to terminate coverage at any
anniversary date is called a(n) - 🧠 ANSWER ✔✔optional renewability
clause
,A comman exclusion with Vision plans is - 🧠 ANSWER ✔✔lasik surgery
A company that is authorized by the Commissioner to transact insurance
business in Louisiana is called a(n) - 🧠 ANSWER ✔✔authorized insurer
A dependent child may remain on a parents health insurance beyond the
age of 26 if the child - 🧠 ANSWER ✔✔has a mental or physical handicap
and remains dependent on the parent
A disability elimination period is best described as - 🧠 ANSWER ✔✔time
deductible
A disability income policy can prevent an insured from earning a higher
income than if he/she were working by utilizing - 🧠 ANSWER ✔✔benefit
limits
A doctor who accepts Medicare Assignment agrees to which of the
following? - 🧠 ANSWER ✔✔Doctor cannot charge more than Medicare's
scheduled coverage
A domestic insurance company in Louisiana MUST - 🧠 ANSWER ✔✔be
organized under Louisiana insurance laws
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, A field underwriter's main task is - 🧠 ANSWER ✔✔to ensure an applicant's
medical information is accurate and complete.
A foreign insurance company doing business in Louisiana - 🧠 ANSWER
✔✔is a company that was formed under the laws of another state.
A form of medical health insurance covering the treatment and care of gum
- 🧠 ANSWER ✔✔Dental expense insurance
A group Disability Income plan that pays tax-free benefits to covered
employees is considered - 🧠 ANSWER ✔✔fully contributory
A guaranteed issued insurance policy has no - 🧠 ANSWER ✔✔medical
underwriting
A health care provider claim may be settled using which of the following
payment methods? - 🧠 ANSWER ✔✔Fee-for service
A health insurance policy where the insurer has the right to terminate the
policy owner's premiums, but NOT cancel the policy is called a(n) - 🧠
ANSWER ✔✔guaranteed renewable policy
Questions with 100% Correct Answers |
Latest Update
Maximum benefit refers to the - 🧠 ANSWER ✔✔upper limit of the total
lifetime benefits the insurance company will pay
____ is NOT an element of a valid contract - 🧠 ANSWER
✔✔Countersignature
______ life is designed to pay the balance of a loan if the insured dies
before repayment of the loan - 🧠 ANSWER ✔✔Credit
A 10% excise tax is normally applied to an early withdrawal from an IRA.
According to HIPPA, this tax will not be applied if the withdrawal is used for
medical expenses that exceed ___ of the individual's adjusted gross
income. - 🧠 ANSWER ✔✔7.50%
,A beneficiary change can occur: - 🧠 ANSWER ✔✔normally at any time
during the policy term.
A beneficiary has just received a claim payment for a life insurance policy.
Which of the following is TRUE regarding federal income tax liability. - 🧠
ANSWER ✔✔No federal income tax is owed on the life insurance
proceeds.
A business entity wishing to act as an insurance producer MUST - 🧠
ANSWER ✔✔obtain a producer's license.
A business will will typically use which type of life insurance to cover their
employees? - 🧠 ANSWER ✔✔Group Policy
A cease and decist order - 🧠 ANSWER ✔✔forbids a stated practice listed in
the order.
A change in an insurance application requires - 🧠 ANSWER ✔✔an initial
made by the applicant.
A clause that allows an insurer the right to terminate coverage at any
anniversary date is called a(n) - 🧠 ANSWER ✔✔optional renewability
clause
,A comman exclusion with Vision plans is - 🧠 ANSWER ✔✔lasik surgery
A company that is authorized by the Commissioner to transact insurance
business in Louisiana is called a(n) - 🧠 ANSWER ✔✔authorized insurer
A dependent child may remain on a parents health insurance beyond the
age of 26 if the child - 🧠 ANSWER ✔✔has a mental or physical handicap
and remains dependent on the parent
A disability elimination period is best described as - 🧠 ANSWER ✔✔time
deductible
A disability income policy can prevent an insured from earning a higher
income than if he/she were working by utilizing - 🧠 ANSWER ✔✔benefit
limits
A doctor who accepts Medicare Assignment agrees to which of the
following? - 🧠 ANSWER ✔✔Doctor cannot charge more than Medicare's
scheduled coverage
A domestic insurance company in Louisiana MUST - 🧠 ANSWER ✔✔be
organized under Louisiana insurance laws
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, A field underwriter's main task is - 🧠 ANSWER ✔✔to ensure an applicant's
medical information is accurate and complete.
A foreign insurance company doing business in Louisiana - 🧠 ANSWER
✔✔is a company that was formed under the laws of another state.
A form of medical health insurance covering the treatment and care of gum
- 🧠 ANSWER ✔✔Dental expense insurance
A group Disability Income plan that pays tax-free benefits to covered
employees is considered - 🧠 ANSWER ✔✔fully contributory
A guaranteed issued insurance policy has no - 🧠 ANSWER ✔✔medical
underwriting
A health care provider claim may be settled using which of the following
payment methods? - 🧠 ANSWER ✔✔Fee-for service
A health insurance policy where the insurer has the right to terminate the
policy owner's premiums, but NOT cancel the policy is called a(n) - 🧠
ANSWER ✔✔guaranteed renewable policy
