LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
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) - CORRECT ANSWERS 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 - CORRECT ANSWERS 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? - CORRECT
ANSWERS 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? -
CORRECT ANSWERS Universal life policy
Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan.Which
Medicare plan does he have? - CORRECT ANSWERS Part C
Jonas has disability insurance through his employer. The employer pays 75% of the premium, and Jonas
pays the other 25%. What is Jonas's tax liability for any benefits paid from the disability plan? -
CORRECT ANSWERS Taxes must be paid on 75% of the benefits received
Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which
of the following products would allow him to accomplish this? - CORRECT ANSWERS child term
rider
Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she purchase
that is designed to pay off the loan blance is she dies within the 30-year period? - CORRECT
ANSWERS Decreasing Term Insurance
,LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these
benefits treated for tax purposes? - CORRECT ANSWERS taxable income
Karen the producer pays for her client's initial premium payment as an incentive for purchase. This act is
considered a(n) - CORRECT ANSWERS rebate
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she
have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125? -
CORRECT ANSWERS $50.00
Kathy pays a monthly premium on her health insurance policy. How long is her grace period? -
CORRECT ANSWERS 10 days
Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the
Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken? - CORRECT
ANSWERS $5,000
Key person Disability Insurance pays the benefits to the - CORRECT ANSWERS employer
Kiara filled out a life insrance applicationa nd was given a policy illustration that showed future
premiums being paid out of nonguaranteed values. This illustration MUST disclose that - CORRECT
ANSWERS she may need to resume premium payments, depending on actual results
Kim has health insurance with a deductible of $500 and an 80/20 coinsurance. How much will she pay if
she incurs a loss of $1,500? - CORRECT ANSWERS $700
Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of
these statements is true? - CORRECT ANSWERS The face amount and premium will remain
constant over the 10-year period
,LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
Kristi purchases an annuity that will pay her husband an income for 15 years. If he dies ,this income will
become payable to their children for the remainder of the period. Kristi has what kind of annuity? -
CORRECT ANSWERS Temporary annuity certain
Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Which
military service exclusion clause would pay upon his death? - CORRECT ANSWERS Results
Level premium permanent insurance accumulates a reserve that eventurally - CORRECT
ANSWERS equal the face amount of the policy
Level premium term life insurance policiers - CORRECT ANSWERS have premiums that are
averaged over the policy period
Life insurance policies will normally pay for losses arising from - CORRECT ANSWERS
commercial aviation
Life insurance replacements can be defined as - CORRECT ANSWERS exchanging an existing life
policy for a new policy
Lisa has recently bought a fixed annuity. Which of these is considered to be a disadvantage of owning
this type of annuity? - CORRECT ANSWERS During periods of inflation, annuitants will
experience a decrease in purchasing power of their payments.
Loans obtained by a policyowner against the cash value of a life insurance policy - CORRECT
ANSWERS would not be treated as taxable income
Long-Term Care policies may provide coverage for claims arising from - CORRECT ANSWERS
senile dementia
, LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
Long-Term Care policies or certificates issued in Louisiana are required to have - CORRECT
ANSWERS a nonforfeiture value
Long-term care policies sold in Louisiana may NOT exclude coverage for - CORRECT ANSWERS
senile dementia
Long-Term care polilcies sold in Louisiana may exclude coverage related to - CORRECT ANSWERS
substance addiction
Lorenzo is self employed with an S corporation. He is unmarried and had a net profit for the tax year.
What are the tax ramifications of his health insurance premiums paid for the year? - CORRECT
ANSWERS 100% of his health insurance costs can be deducted from his gross income
Loss of Income insurance provides - CORRECT ANSWERS an individual the means to replace
wages
Louisiana residents who are uninsurable may obtain health coverage through the - CORRECT
ANSWERS Louisiana Health Insurance Association
Low frequency diseases can be exclusively covered by what kind of health insurance policies? -
CORRECT ANSWERS Limited policies
Maria the producer would like to advertise an annuity product on a highway billboard. Which of the
following must be included in the advertisement - CORRECT ANSWERS Her name
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she
is seeking is called - CORRECT ANSWERS annuity certain
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
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) - CORRECT ANSWERS 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 - CORRECT ANSWERS 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? - CORRECT
ANSWERS 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? -
CORRECT ANSWERS Universal life policy
Joe is a Medicare participant who receives his benefits through a Managed Health Care Plan.Which
Medicare plan does he have? - CORRECT ANSWERS Part C
Jonas has disability insurance through his employer. The employer pays 75% of the premium, and Jonas
pays the other 25%. What is Jonas's tax liability for any benefits paid from the disability plan? -
CORRECT ANSWERS Taxes must be paid on 75% of the benefits received
Jonas is a whole life insurance policyowner and would like to add coverage for his two children. Which
of the following products would allow him to accomplish this? - CORRECT ANSWERS child term
rider
Julie has a $100,000 30-year mortgage on her new home. What type of life insurance could she purchase
that is designed to pay off the loan blance is she dies within the 30-year period? - CORRECT
ANSWERS Decreasing Term Insurance
,LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these
benefits treated for tax purposes? - CORRECT ANSWERS taxable income
Karen the producer pays for her client's initial premium payment as an incentive for purchase. This act is
considered a(n) - CORRECT ANSWERS rebate
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much will she
have to pay if she, not having met any of her deductible, visits the doctor and receives a bill for $125? -
CORRECT ANSWERS $50.00
Kathy pays a monthly premium on her health insurance policy. How long is her grace period? -
CORRECT ANSWERS 10 days
Ken is a producer who has obtained Consumer Information Reports under false pretenses. Under the
Fair Credit Reporting Act, what is the maximum penalty that may be imposed on Ken? - CORRECT
ANSWERS $5,000
Key person Disability Insurance pays the benefits to the - CORRECT ANSWERS employer
Kiara filled out a life insrance applicationa nd was given a policy illustration that showed future
premiums being paid out of nonguaranteed values. This illustration MUST disclose that - CORRECT
ANSWERS she may need to resume premium payments, depending on actual results
Kim has health insurance with a deductible of $500 and an 80/20 coinsurance. How much will she pay if
she incurs a loss of $1,500? - CORRECT ANSWERS $700
Krissa purchases a 10-year level term life insurance policy that has a death benefit of $200,000. Which of
these statements is true? - CORRECT ANSWERS The face amount and premium will remain
constant over the 10-year period
,LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
Kristi purchases an annuity that will pay her husband an income for 15 years. If he dies ,this income will
become payable to their children for the remainder of the period. Kristi has what kind of annuity? -
CORRECT ANSWERS Temporary annuity certain
Kurt is an active duty serviceman who was recently killed in an accident while home on leave. Which
military service exclusion clause would pay upon his death? - CORRECT ANSWERS Results
Level premium permanent insurance accumulates a reserve that eventurally - CORRECT
ANSWERS equal the face amount of the policy
Level premium term life insurance policiers - CORRECT ANSWERS have premiums that are
averaged over the policy period
Life insurance policies will normally pay for losses arising from - CORRECT ANSWERS
commercial aviation
Life insurance replacements can be defined as - CORRECT ANSWERS exchanging an existing life
policy for a new policy
Lisa has recently bought a fixed annuity. Which of these is considered to be a disadvantage of owning
this type of annuity? - CORRECT ANSWERS During periods of inflation, annuitants will
experience a decrease in purchasing power of their payments.
Loans obtained by a policyowner against the cash value of a life insurance policy - CORRECT
ANSWERS would not be treated as taxable income
Long-Term Care policies may provide coverage for claims arising from - CORRECT ANSWERS
senile dementia
, LA SERIES 103 QUESTIONS AND ANSWERS LATEST
DOWNLOADED 2025/2026 A COMPLETE EXAM
COMPREHENSIVE ALL ANSWERS 100% ACCURATE BEST
GRADED TO SCORE A+ FOR SUCCESS
Long-Term Care policies or certificates issued in Louisiana are required to have - CORRECT
ANSWERS a nonforfeiture value
Long-term care policies sold in Louisiana may NOT exclude coverage for - CORRECT ANSWERS
senile dementia
Long-Term care polilcies sold in Louisiana may exclude coverage related to - CORRECT ANSWERS
substance addiction
Lorenzo is self employed with an S corporation. He is unmarried and had a net profit for the tax year.
What are the tax ramifications of his health insurance premiums paid for the year? - CORRECT
ANSWERS 100% of his health insurance costs can be deducted from his gross income
Loss of Income insurance provides - CORRECT ANSWERS an individual the means to replace
wages
Louisiana residents who are uninsurable may obtain health coverage through the - CORRECT
ANSWERS Louisiana Health Insurance Association
Low frequency diseases can be exclusively covered by what kind of health insurance policies? -
CORRECT ANSWERS Limited policies
Maria the producer would like to advertise an annuity product on a highway billboard. Which of the
following must be included in the advertisement - CORRECT ANSWERS Her name
Maria would like an annuity that provides a guaranteed accumulation or payout. The type of annuity she
is seeking is called - CORRECT ANSWERS annuity certain
