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LA SERIES 103 EXAM NEWEST 2025/2026 NEWEST ACTUAL
EXAM WITH COMPLETE QUESTIONS AND VERIFIED
ANSWERS |ALREADY GRADED A+|
In order to activate the reinstatement clause of a lapsed life
insurance policy, the insured MUST - ANSWER-remit all past-due
premiums within the grace period
In regards to a life insurance contract, which of the following
statements is NOT true regarding the concept of insurable
interest? - ANSWER-Insurable interest can be established
sufficiently by sentimental attachment alone
In what form do disability income policies typically pay benefits? -
ANSWER-periodic income
In what part of an insurance policy are policy benefits found? -
ANSWER-Declarations
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In which of the following processes will the insurer oversee the
insured's hospital stay to confirm everything is going according to
schedule and that the insured will be released as planned? -
ANSWER-Concurrent review
In which of the following relationships would there NOT be an
insurable interest? - ANSWER-Business owner to business
customer
In which of the following situations would the insurer be liable for
a loss? - ANSWER-The insured suffered an injury as an innocent
bystander during a bank robbery
Individual health policies sold in Louisiana require dependent
children coverage up to age - ANSWER-26
Insurable interest does NOT occur in which of the following
relationships - ANSWER-Business owner and business client
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Insurable interest does NOT exist between - ANSWER-two
unrelated neighbors
Insurance Companies determine risk exposure by which of the
following? - ANSWER-Law of large numbers and risk pooling
Insurance premium is determined by each of the following factors
except - ANSWER-liquidity
Insurance producer decides to conduct business under an
assumed name; the Commissioner must be notified of this
change - ANSWER-prior to using the assumed name
Insurance represents the process of risk - ANSWER-transference
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT
regarding the death benefit amount? - ANSWER-The death
benefit paid will be what the premium would have purchased at
the correct age
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Jennifer is required to pay a specific sum out of pocket before any
benefits are paid within a year. Her health policy most contains
a(n) - ANSWER-Deductible
Jim recently sold his whole life insurance policy under a viatical
settlement contract. The proceeds of this contract could be
subject to the claims of - ANSWER-creditors
Joanne has a $100,000 whole life polilcy with an accumulated
$25,000 of cash value. She would like to borrow $15,000 against
the cash value. Which of the following statements is TRUE? -
ANSWER-Net death benefit will be reduced if the loan is not
repaid
Joe has a life insurance policy that has a face amount of
$300,000. After a number of years, the policys cash value
accumulates to $50,000. The face amount becomes $350,000.
What kind of pollicy is this? - ANSWER-Universal life policy
LA SERIES 103 EXAM NEWEST 2025/2026 NEWEST ACTUAL
EXAM WITH COMPLETE QUESTIONS AND VERIFIED
ANSWERS |ALREADY GRADED A+|
In order to activate the reinstatement clause of a lapsed life
insurance policy, the insured MUST - ANSWER-remit all past-due
premiums within the grace period
In regards to a life insurance contract, which of the following
statements is NOT true regarding the concept of insurable
interest? - ANSWER-Insurable interest can be established
sufficiently by sentimental attachment alone
In what form do disability income policies typically pay benefits? -
ANSWER-periodic income
In what part of an insurance policy are policy benefits found? -
ANSWER-Declarations
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In which of the following processes will the insurer oversee the
insured's hospital stay to confirm everything is going according to
schedule and that the insured will be released as planned? -
ANSWER-Concurrent review
In which of the following relationships would there NOT be an
insurable interest? - ANSWER-Business owner to business
customer
In which of the following situations would the insurer be liable for
a loss? - ANSWER-The insured suffered an injury as an innocent
bystander during a bank robbery
Individual health policies sold in Louisiana require dependent
children coverage up to age - ANSWER-26
Insurable interest does NOT occur in which of the following
relationships - ANSWER-Business owner and business client
, Page |3
Insurable interest does NOT exist between - ANSWER-two
unrelated neighbors
Insurance Companies determine risk exposure by which of the
following? - ANSWER-Law of large numbers and risk pooling
Insurance premium is determined by each of the following factors
except - ANSWER-liquidity
Insurance producer decides to conduct business under an
assumed name; the Commissioner must be notified of this
change - ANSWER-prior to using the assumed name
Insurance represents the process of risk - ANSWER-transference
James is the insured on a life insurance policy where his age was
misstated on the application. Which of the following is CORRECT
regarding the death benefit amount? - ANSWER-The death
benefit paid will be what the premium would have purchased at
the correct age
, Page |4
Jennifer is required to pay a specific sum out of pocket before any
benefits are paid within a year. Her health policy most contains
a(n) - ANSWER-Deductible
Jim recently sold his whole life insurance policy under a viatical
settlement contract. The proceeds of this contract could be
subject to the claims of - ANSWER-creditors
Joanne has a $100,000 whole life polilcy with an accumulated
$25,000 of cash value. She would like to borrow $15,000 against
the cash value. Which of the following statements is TRUE? -
ANSWER-Net death benefit will be reduced if the loan is not
repaid
Joe has a life insurance policy that has a face amount of
$300,000. After a number of years, the policys cash value
accumulates to $50,000. The face amount becomes $350,000.
What kind of pollicy is this? - ANSWER-Universal life policy
