Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Practice Exam – All Questions

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Fixed annuities offer guaranteed minimum interest and principal protection, but they don’t inherently shield you from inflationFixed Annuities provide all of the following except which?How disability income policies cap benefits to match earned income in Louisiana Series 103A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing What makes a plan qualified and why unlimited contributions aren’t allowedNOT a federal requirement of a Qualified plan?

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Which of these will typically authorize treatment from a specialist?
All of these are characteristics of a major medical expense policy EXCEPT
What percentage of adjusted gross income is the threshold for deductible medical expenses?
Which of the following is NOT part of an insurance contract?
Which term describes a foreign insurer doing business in Louisiana?
Which scenario would qualify an individual for receiving benefits from a qualified long-term care policy?
Which statement best describes consideration in an insurance contract?
The preexisting condition look-back period is measured in months. Which of the following is a valid look-back month for health policy preexisting condition determination?
Louisiana residents who are uninsurable may obtain health coverage through which organization?
Which of these is a requirement for obtaining a resident insurance producer license in this state?
Which BEST describes a conditional insurance contract?
Which of the following is NOT a requirement to obtaining a Louisiana insurance producer license?
A rider that assures premiums will be paid on a juvenile policy until the child reaches a specific age is called
All of the following are considered to be fraud EXCEPT
When a life insurance illustration includes nonguaranteed values, which statement is accurate?
Which term describes a policy that the insurer can cancel in the middle of the term with notice?
All of these are characteristics of a universal life insurance policy EXCEPT
Which type of annuity stops all payments upon the annuitant's death?
Which policy type covers two lives and pays upon the death of the first insured?
Which settlement option pays a stated amount to the annuitant but provides no residual value to a beneficiary?
A long-term care policy typically covers all of the following levels of care except which?
A rider that assures premiums will be paid on a juvenile policy until the child reaches a specific age is called a(n)
Which of the following is NOT a valid policy dividend option for a life insurance policy owner?
In an insurance program, which is considered an expense factor affecting premiums?
Which of the following is an example of elective cosmetic surgery?
Which statement about reimbursement benefits in accident and health policies is true?
Life insurance proceeds paid to a beneficiary are generally taxed how for federal income tax purposes?
A life insurance policy normally contains exclusions restricting coverage in the event of death in several situations. Which of the following would be the exception?
In an employer-sponsored group accident and health plan, the master contract is issued to whom?
A company authorized by the Commissioner to transact insurance business in Louisiana is called a(n)
In which part of a policy are policy benefits found?
Richard owns an insurance policy that is renewable only at the option of the insurance company. His policy is considered to be
Which of the following does Medicare Part D cover?
Which of these gaps in Medicare coverage is addressed with Medicare Supplemental Insurance?
A refund annuity is characterized by which primary feature when the annuitant dies during the distribution period?
Which ACA metal level is typically considered mid-range, balancing premium cost and coverage?
A life insurance company transferring some of its risk to another insurer. The insurer assuming the risk is called the
For an Arkansas resident seeking to solicit insurance in Louisiana, which of the following is NOT a requirement to obtain a Louisiana nonresident license?
Which statement best describes the relationship between variable life and universal life policies?
Which statement about Health Savings Accounts (HAS) employer contributions is true?
Which statement about Medicaid is correct?
Which statement about term life insurance is true?
Loans against the cash value of the life insurance policy are typically treated for tax purposes as:
Which clause protects a policyowner from misrepresentation caused by an innocent mistake?
Which event typically qualifies a former employee for COBRA continuation coverage?
Under health insurance, a dependent child may remain beyond age 26 if the child has a mental or physical handicap and remains dependent on the parent.
In a group health benefit plan, who is typically the policyholder?
A producer must notify the Commissioner within how many days of a felony conviction?
If two partners own life insurance on each other's lives and name each other as beneficiaries, who receives the policy proceeds when one partner dies?
If there is no reciprocal arrangement with the domicile state, can a nonresident producer be licensed in Louisiana?
A cease and desist order is used to
Disability income policies typically pay benefits in which form?
What term describes a person who has a contract with an insurance company to represent it and solicit insurance?
A Medicare participant who receives benefits through a Managed Care Plan is enrolled in which Medicare plan?
Who performs field underwriting?
A provision in a whole life policy that allows a policyowner to terminate the policy in return for a reduced paid-up policy of the same type is called a(n)
Which of these is NOT an Unfair Claims Settlement Practice?
Which term describes the insurer's ability to meet short-term payout needs for policyowners?
A securities license is required for a life insurance producer to sell
A doctor who accepts Medicare Assignment agrees to which of the following?
The benefit described as deferring current compensation to a later date for tax purposes is known as
Medicare Part B covers
After how many years from date of issue can a policy no longer be canceled by the insurer for misstatements (except fraud)?
Which is an example of naming a beneficiary by class?
Which rider provides monthly disability income benefits?
Which type of clause describes the following statement: "We have issued the policy in consideration of the representations in your applications and payment of the first-term premium"?
What is the primary reason for buying an annuity?
Which official has the responsibility to regularly examine domestic insurance companies?
When does open enrollment for Medicare Supplement coverage typically begin?
A waiver of premium rider allows an insured to waive premium payments if the insured is
All of the following are included as part of a contract in the entire contract provision EXCEPT
Which of these statements concerning traditional IRAs is correct?
Before engaging in viatical settlements, a broker must
Which term pertains to the analysis of an applicant's personal information and determining whether insurance should be issued or declined?
Which type of beneficiary should be named if the insured wants to give explicit directions on how the policy proceeds should be paid?
Which settlement option is described as paying earnings to the beneficiary while the principal remains with the insurer?
An employer may qualify for health care tax credits through SHOP marketplace if that employer has fewer than how many employees?
When a producer is replacing an existing ordinary life insurance policy, the producer must take all of the following actions except:
All of the following are exempt from the 10% tax penalty for early qualified plan withdrawals EXCEPT which?
Which of the following is NOT a level of care typically covered by Long-Term Care policies?
Elizabeth is the beneficiary of a life insurance policy and is receiving the death benefit in payments of $10,000 per month until the principal and interest have been paid out. Which settlement option was chosen?
How many days is a temporary producer's license valid?
A foreign insurance company doing business in Louisiana
Which signature is not required on an individual life or health insurance application?
Which of the following is a dividend option for life insurance policy owners?
Which of these retirement plans do NOT qualify for a federal income tax deduction?
How often must an insurance producer's license in Louisiana be renewed?
Under the 7.5% of AGI rule, which expense is considered a tax deductible medical expense?
Under a Modified Endowment Contract, what are the likely tax consequences?
Which of the following is not a typical cost-sharing feature of a major medical policy?
Which relationship would typically establish insurable interest?
The waiting period for a disability policy excludes payments for which condition?
Which statement about the MIB is true?
What is the tax liability for employer contributions in Health Savings Accounts (HAS's)?
Which condition is commonly cited as potentially covered by Louisiana long-term care policies?
A policy owner suffers an injury that renders him incapable of performing one or more important job duties. Any decrease in income resulting from this injury would make him eligible for benefits under which provision?
A disability income policy can prevent an insured from earning a higher income than if he/she were working by utilizing
Within how many days must a Traditional IRA be rolled over to another IRA to avoid tax consequences?
If an insured returns to work part-time and still receives some disability benefits, this is called
Which is not a standard exclusion found in a life insurance policy?
What is the minimum benefit period that must be offered by a Long-Term Care policy?
A life insurance policy that contains a guaranteed interest rate with the chance to earn a rate that is higher than the guaranteed rate is called
Which of these describes the result of a modified endowment contract that failed to meet the seven-pay test?
Which policy type blends universal life flexibility with investment choices?
All health benefit plans issued after January 1, 2014 must provide which of the following services?
A life insurance policy which contains cash values that vary according to its investment performance of stocks is called
Under an individual health plan, the document that evidences coverage is called a
The elimination period under a hospital indemnity plan is
In determining pre-existing condition eligibility for a group plan, what is the maximum allowable gap in days between health coverage periods?
Low frequency diseases can be exclusively covered by what kind of health insurance policies?
Which item is commonly excluded from disability income coverage?
For a $500,000 10-year nonrenewable level term policy, if death occurs 15 years after inception, how much will the beneficiary receive?
What is the term for a rider that allows converting term insurance to permanent insurance without evidence of insurability?
Insurance companies determine risk exposure by which principle?
Which dividend option uses the dividend to pay all or part of the next premium due?
The double indemnity provision in life insurance pertains to death caused by which of the following?
Dorian used his life policy's cash value to purchase an extended term insurance option. When the extended term expires, what happens to the protection?
In disability policies, the elimination period acts as a waiting period before benefits begin.
Medicaid is designed for which population?
In an irrevocable beneficiary designation, whose signature is required to change the designation?
Which rider would pay a monthly amount if the insured suffers a total and permanent disability?
With a major medical plan that provides first-dollar coverage, what is the impact on the deductible?
How many employees must an employer have for a terminated employee to be eligible for COBRA?
Term Insurance is appropriate for someone who
Health insurance typically covers two perils, which are
Level premium term life insurance policies have premiums that are averaged over the policy period. True or false?
A group Disability Income plan that pays tax-free benefits to covered employees is considered:
Bill requires some nursing care and supervision but not full-time care. Which option would best serve him?
Dividends paid by a mutual insurer are generally not taxed because they are considered?
Which of the following would not be considered a presumptive disability?
Fixed Settlement Options are considered to be a form of which financial instrument?
Which of the following is a reinstatement condition?
An annuitant dies during the distribution period. What kind of annuity will return to a beneficiary the difference between the annuity value and the income payments already made?
Which rider would waive the premium on a child's life insurance policy if the parent paying the premium dies?
Louisiana individual health policies require dependent children coverage up to age
Which is a valid reason for canceling a Medicare Supplement policy by the insurer?
Which statement best describes the effect of the free look provision?
Medicare Part B is also known as?
Which term describes the automatic continuation of coverage?
Who must provide the notice of replacement to be signed by the applicant?
Under group health insurance, a certificate of coverage is issued to the employee.
An HMO that involves a partnership of physicians and other providers who practice out of a central facility is called a(n)
Long-Term care policies sold in Louisiana may exclude coverage related to which condition?
Which disability policy provision would address any concerns of the value of the benefits decreasing over time?
If an insured dies during the grace period with premiums unpaid, what happens to the death benefit?
Which clause in a life policy describes when benefits are payable?
Which act protects consumers by regulating credit reporting and distribution?
In an employer-sponsored group accident and health plan, the master contract is issued to whom?
Andy the annuitant dies before the annuity start date. Which of the following statements is true?
Which of the following is included as a core benefit of Medicare Plan A?
A Medicare Supplement policy's outline of coverage MUST include a
Long-Term Care policies may provide coverage for claims arising from which condition?
Which statement demonstrates naming a beneficiary by class?
Within how many days must a rollover from a Traditional IRA to another IRA be completed to avoid tax consequences?
Which arrangement involves selling a life insurance policy to a third party for cash, with the insured not necessarily terminally ill?
Among renewable policies, which statement best describes guaranteed renewable?
What is the contract called that is issued to an employer for a Group Medical Insurance plan?
Which contract allows a policy owner to receive a portion of the death benefit before the insured dies?
A Louisiana life insurance policy can be contested by the insurer only during the first __ years of the contract.
Credit Accident and Health plans are designed to
Which premium mode is typically the most costly over time?
An HMO with physicians and other providers who practice out of a central facility is called which type?
In relation to the seven-pay test, a Modified Endowment Contract that does not pass the test results in taxes on distributions taken prior to death.
An applicant's character and personal habits can be obtained for underwriting purposes from which source?
Under Louisiana law, group life insurance conversion privileges must NOT require which of the following?
A health insurance policy where the insurer has the right to terminate the policy for reasons other than the insured's health is called
All of these are considered key factors in underwriting life insurance EXCEPT
Long-Term care policies sold in Louisiana may NOT exclude coverage for which condition?
Under the Louisiana Health Plan, which group receives comprehensive health benefits?
Tim is converting from group coverage to an individual policy with the same insurer after employment termination. This change is called?
Before using an assumed name in business, which authority must be notified?
Which of the following describes when a Renewable Term Life policy can be renewed?
Which settlement option leaves the proceeds with the insurer and pays monthly earnings to the beneficiary?
The monthly benefit for an individual disability income policy is usually limited to a percentage of the insured's income to avoid what?
In a group disability income plan, benefits paid to employees are typically taxed as
Which Part of Medicare does a Medicare Supplement policy supplement?
Kristi buys an annuity that pays her husband for 15 years; if he dies, payments continue to their children for the remainder of the period. What type of annuity is this?
Written notice for a health claim must be given to the insurer within how many days after the occurrence of the loss?
What is the field underwriter's primary task?
Which license is REQUIRED to solicit Long Term Care Insurance in the State of Louisiana?
Which policy has cash values tied to investment performance and carries higher risk?
A life insurance policy written on two people in one contract and payable upon the first death is called
Which is not a characteristic of a universal life policy?
Which marketplace provides health care tax credits to small employers?
The waiting period for a disability insurance policy excludes payments for which condition?
Which statement best describes the newborn coverage requirement under a group health policy?
Group dental plans typically limit annual benefits to minimize which insurer concern?
Under the 7.5% AGI threshold, which may be considered a medical expense?
A person who is a nonsmoker, of average weight, and in excellent health would most likely be in which risk classification?
A life insurance policy owner does not have the right to
A securities license is required for a life insurance agent producer to sell
Which withdrawal would be subject to the 10% early withdrawal penalty?
Which type of benefit is NOT typically covered by a nonprofit health service plan?
An example of a tax-qualified retirement plan would be a
Which word best describes a life policy that may not be renewed at the end of its term?
Which of these is NOT considered to be a purpose of an annuity?
An annuity is primarily used to provide which of the following?
A life insurance replacement transaction could result in a
Which document is issued by a state regulator authorizing an insurer to operate in Louisiana?
A master contract and certificate of coverage can be found in which type of policy?
Which payment method may be used to settle a health care provider claim?
All of the following are core benefits of Medicare Supplement Plan A EXCEPT
Which of the following is typically NOT eligible for coverage in a group health policy?
Ambiguities in an insurance policy are always resolved in favor of the
What rider permits an individual to buy additional insurance as they age without proving insurability?
Which item would be least likely a source of information for underwriting, given standard practices?
Grace period concept: What term describes the period after the premium due date during which a policy remains in force?
A limited payment whole life policy provides what kind of protection?
Which item is not included as part of the entire contract provision?
An alien insurer is defined as
Insurable interest does NOT exist between which pair?
Maria the producer would like to advertise an annuity product on a highway billboard. Which of the following must be included in the advertisement?
Who must initiate changes in an insurance application?
Tom has a home health care benefit and is confined to his home. Which benefit is not typically covered?
Which statement describes a flexible premium annuity?
Part A Hospital expense coverage provided under Medicare is automatically made available to which of the following? EXCEPT
When does a life insurance policy typically become effective?
What term describes a policy that can be canceled in the middle of the term with notice?
Why are dividends from a mutual insurer not subject to taxation?
Which of the following permits an insurance company to transact business in Louisiana?
Which feature protects long-term care policy values from inflation over time?
The typical long-term care policy is designed to provide a minimum of how many years of coverage?
A common exclusion with Vision plans is
Respite care is able to provide
In a whole life policy, the amount eligible to be borrowed by the policyowner is called the
Endodontic treatment is which dental procedure?
Which rider allows the insured to increase benefits without a medical exam?
A pharmacy benefit covers prescription drugs drawn from a specified list known as what?
Premiums paid that exceed 7 1/2% of an insured's AGI are tax-deductible when paid for which plan?
When does an immediate annuity purchased with a single premium typically begin payments?
Which of the following is NOT a valid option for an Adjustable Life Policy?
In a hospital indemnity plan, the waiting period before benefits begin per hospitalization is called
Which of the following best describes the primary purpose of the coordination of benefits provision in group health plans?
Under the Affordable Care Act, which metal tier is designed to provide actuarial value of about 80%?
A domestic insurer in Louisiana must
Which of the following employers is required to follow ERISA regulations?
Which option best describes when a policy is backdated?
Health insurance typically covers which type of services?
Which statement best describes how Medicare Supplements coordinate with Parts A and B?
A decreasing term policy is typically used to cover which of the following?
Which clause gives an insurer the right to terminate coverage on any policy anniversary date?
Charles is a producer licensed in Louisiana but resides in Mississippi. Charles is considered to be a(n) _____.
In Louisiana insurance terminology, a company formed under the laws of another state is called a
Which statement about Medicare Supplement policy benefits is true?
Which statement about insurable interest is true?
Which statement most accurately describes the relationship between Medicare Part A and Part B and a Medicare Supplement policy?
Which statement best describes the requirement for notifying the insurer of a health claim?
Rob has a benefit at work which enables him to defer his current receipt of income and have it paid as a later date, when he will probably be in a lower tax bracket. Which benefit fits this description?
What is the purpose of the Louisiana Life and Health Insurance guaranty association?
In underwriting, an attending physician's statement is used to assist in which process?
Which feature guarantees the annuitant will not outlive retirement income?
Which provision addresses inflation concerns in disability benefits?
Which term correctly labels the upper limit on total lifetime benefits?
Disability income plans which require that the insurer can never change or alter premium rates are usually considered
An accident and health policy that provides reimbursement benefits makes them payable to the
Which of the following statements best describes a temporary annuity certain?
Which rider waives premiums if the insured becomes disabled?
After an annuity has been in force for how many years is it considered incontestable?
In order for a business entity to be licensed as a producer, a licensed producer must be designated as responsible for compliance with state insurance laws.
Which term best describes a plan that combines features of HMOs and PPOs and is commonly referred to as a POS plan?
In a risk transfer arrangement, the insurer assuming the risk is the
Which policy offers flexible premiums, a flexible death benefit, and the choice of how the cash value will be invested?
Which item is NOT an element of a valid contract?
Open enrollment period for Medicare Supplements begins at what age?
All of the following are functions of an insuring clause EXCEPT
An unfair claims settlement practice includes which of the following?
Which gap in Medicare coverage is typically addressed by Medicare Supplement Insurance?
Which of these is considered to be a Living Benefit option in a life insurance policy?
What is the effect of the common disaster provision when both the insured and beneficiary die in the same accident?
Which level of care is not typically covered by a long-term care policy?
Which type of medical health insurance covers the treatment and care of gum disease?
Insurable interest exists when there is an economic interest in the continued life of the insured.
If a claimant fails to provide timely notice of a health claim, what is a likely insurer response?
The free look provision gives policyowners the right to return the policy with a full refund within a specified number of days. Which option best states this right?
Which Long Term Care benefit would be most appropriate for a stroke victim that requires speech therapy administered at her home?
Insurable interest does NOT occur in which relationship?
The practice of selling most policies to family members is called?
Which entity provides Medicare Supplement policies?
If an employee contributes 50% toward the disability plan premium, what portion of a $1,000 monthly disability benefit is taxable income?
Which of these is NOT considered to be a risk factor in life insurance underwriting?
A producer who sells most of his policies to family members is engaging in what type of business?
In a misstatement of age scenario, the death benefit will be what the premium would have purchased at the correct age.
An accident and health policy that provides reimbursement benefits pays benefits to whom?
Which term describes a permanent life insurance policy with limited premium payments?
Replacement can be defined as
In a life insurance illustration that shows future premiums being paid from nonguaranteed values, which disclosure must accompany the illustration?
Within how many days must a producer submit a change in address?
Which term describes implied authority in agency relationships?
Which type of multiple protection policy pays on the death of the last person?
Which contract allows a policy owner to receive a portion of the death benefit before death?
What is the maximum number of months for preexisting condition exclusion on a Medicare Supplement policy?
In a fixed immediate annuity, payment amounts are determined by which three factors?
Which statement best describes a group life policy?
A field underwriter's main task is
A rehabilitation benefit is intended to
All of the following are characteristics of a Group Life Insurance Plan EXCEPT
A doctor who accepts Medicare Assignment agrees to which of the following?
If a whole life policy with cash value has a loan outstanding that is not repaid, the net death benefit will be reduced.
A provision that allows a policy owner to withdraw a policy's cash value interest free is called a
The insurer need not pay interest on death benefits if the proceeds are paid within how many days after the insured's death?
What makes an insurance policy a unilateral contract?
A company that is authorized by the Commissioner to transact insurance business in Louisiana is called a(n)
A policy owner may access accelerated benefits when there is a life-threatening condition; these are considered what?
In insurance applications, the statements made by the applicant are best described as
Which feature is prohibited in a Medicare Supplement policy?
What is required for ANY change in an insurance application?
Which type of beneficiary should be named if the insured wants to give explicit directions on how the policy proceeds should be paid?
Which statement best describes the relationship between Medicare Supplements and Parts A and B?
Statements made by an insurance applicant on an application are considered what?
All of these are valid policy dividend options EXCEPT accumulate without interest
Which of the following is a true characteristic of a Group Life Insurance Plan?
NOT a common exclusion for a medical expense policy?
Which settlement option is described as paying a fixed amount until the corpus is depleted?
Which of the following best describes a master policy in group health insurance?
In a group Disability Income plan that pays tax-free benefits to covered employees, this plan is considered which type?
Which of the following is an example of an Unfair Claims Settlement practice?
Nonforfeiture value provisions in long-term care policies are intended to protect the policyholder from what scenario?
An alien insurer is best described as
Which of the following is NOT a core benefit of Medicare Supplement Plan A?
How does life insurance create an immediate estate for the beneficiary?
Which statement describes a guaranteed issue policy?
In insurance terminology, the addition to a policy that modifies provisions and coverage is called which term?
In a group health insurance context, which statement is true about the contract?
The professional liability for mistakes in putting a policy into effect is called?
A licensed producer MUST be _____ by an insurer to be eligible for soliciting insurance contracts
Which policy is issued by a mutual insurer and provides a return of dividend surplus?
The dental specialty that focuses on the replacement of missing teeth with devices such as crowns and dentures is
A Medicare Supplement Policy is
Which provision addresses misstatement of age on an application?
What is the minimum number of hours of continuing education Louisiana producers must complete within a 2-year period?
All of the following are included as part of a contract in the entire contract provision except the
A policyowner may exercise which dividend option that uses the dividend to pay all or part of the next premium due?
Which organization is commonly used by buyers to assess the financial strength of an insurer?
Julie has a $100,000 30-year mortgage. Which life insurance type is designed to pay off the loan balance if she dies within the 30-year period?
Root canal is an example of which dental treatment?
An employer's group medical insurance policy, issued as a single contract, is known as a
Which feature is held exclusively by variable universal life insurance?
All of these types of benefits may be covered by a nonprofit health service plan, except which?
An insurance contract is considered unilateral because which party is the only one legally obligated to perform?
A producer who exaggerates the benefits of a policy to induce purchase may be found guilty of what improper act?
What does a cease and desist order do in regulatory actions?
In Medicare Supplement policy discussions, which party is responsible for determining policy suitability for an applicant?
A(n) _______ sells, solicits, or negotiates insurance on behalf of insurance companies for compensation
What kind of annuity is described when an employee contributes to an individual annuity and the employer also contributes to a separate company pension plan?
Under ACA classifications, which plan tier is commonly associated with a 70% actuarial value?
Which of these would be the best example of a limited pay life insurance policy?
Within how many days after policy delivery can Medicare Supplement and Long-Term Care policies be returned for a 100% premium refund?
Which option provides a living benefit in life insurance by allowing access to a portion of the death benefit before death under qualifying conditions?
Which statement best describes a term policy?
Bill's situation is best served by which living arrangement?
Which statement about a Modified Endowment Contract best describes tax treatment of pre-death distributions?
Upon applying for health insurance, a proposed insured treated for heart disease within the past year has indicated what condition?
Under the Affordable Care Act, a Silver Plan offers what actuarial level of coverage?
Which of the following is NOT information found in a life insurance buyer's guide?
An attending physician's statement would be appropriate for which life insurance purpose?
A disability income policy typically includes a waiver of premium rider. What does this rider do?
What kind of insurance provides coverage for one or more necessary or appropriate diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services in a setting other than an acute care unit of a hospital?
Which rider would pay a monthly amount because of total and permanent disability?
How many days is a temporary producer's license valid?
What is the grace period after the first payment is made for an accident and health policy?
What type of policy would only provide coverage for specific types of illnesses (cancer, stroke, etc.)?
What types of life insurance are normally used for key employee indemnification?
The automatic premium loan provision authorizes withdrawal from a policy's cash value for which of the following?
A dependent child may remain on a parent's health insurance beyond age 26 if the child
Which document is issued to each employee under an employer health plan?
Which of these is NOT subject to income taxation under a Modified Endowment Contract (MEC)?
Which term describes a risk category where a person is charged higher premiums due to health history?
All of the following are qualifications for establishing a health savings account (HAS) Except
A policy that typically has a cash value that can be borrowed against is which type of policy?
Which provision prevents the policy owner's loss of the policy's cash value when they lapse or surrender the policy?
An insured's status under Social Security can be described as which of the following?
Which of the following is NOT considered fraud?
Which statement best defines the term 'aleatory' in contract law?
A disability elimination period is best described as a
In health insurance advertising, which element must be clearly identified?
Which dividend option allows dividends to be used to reduce premium payments?
A permanent life insurance policy in which the policy owner pays premiums for a specified number of years is called a
Jennifer's health policy includes a deductible; what does this mean?
Which term describes a policy written on two lives that pays on the first death?
Which annuity payout option makes no additional payments regardless of when the annuitant dies?
The clause that allows an insurer the right to terminate coverage at any anniversary date is called
An eligible employee can be excluded from group health coverage for up to __ months if he/she is considered a 'late enrollee'?
Which statement regarding Group Disability Income Insurance is TRUE?
Insurance premium is determined by factors except which?
Which of the following is a core benefit of Medicare Supplement Plan A?
What is the primary feature of a viatical settlement?
A producer who exaggerates the benefits of a policy to a prospective insured may be guilty of
Which of the following is not a characteristic of a major medical expense policy?
A producer license is NOT required when
Coordination of Benefits regulation applies to all of the following plans EXCEPT
Which method determines the taxable portion of each annuity payment?
For how many months may a Medicare Supplement policy exclude preexisting conditions?
According to HIPPA, when an insured individual leaves an employer and immediately begins working for a new company that offers group health insurance, the individual
On an individual life or health insurance application, which signature is not required?
Which clause protects the contingent beneficiary in a common disaster where both the insured and primary beneficiary die in the same event?
Which of the following is an annuity that is linked to a market-related index?
Which plan does not allow employee contributions on a pre-tax basis?
An attending physician's statement would be appropriate for which life insurance purpose?
The change from a group health plan to an individual plan with the same insurer after employment ends is called what?
Which term describes the situation where both parties to a contract may NOT receive equal value?
All Medicare Supplement policies MUST contain which provision?
Exaggerating policy benefits to induce purchase is an example of which unethical practice?
The provision that allows an interest-sensitive life policyowner to withdraw the policy's cash value interest-free is called what?
Medical Expense Insurance would cover injuries occurring where?
Under HIPAA, the 10% excise tax on early IRA withdrawals is not applied if the withdrawal is used for medical expenses that exceed what percent of the individual's adjusted gross income?
What is the process called when an employee changes from group life coverage to an individual policy after termination?
A health insurance policy where the insurer has the right to terminate the policy for reasons other than the insured's health is called
Medicare Advantage plans are sometimes called
What percentage of a participant's income are group long-term disability benefit amounts typically limited to?
Under the Fair Credit Reporting Act, what is the maximum penalty that may be imposed on a producer who obtains Consumer Information Reports under false pretenses?
What is required to be eligible for Medicare Part D prescription drug coverage?
The incontestability period for life insurance policies typically lasts for how long after the policy's effective date?
Proceeds from a life insurance contract for a life-threatening condition are known as what?
A renewable Term Life Insurance policy allows the policy owner the right to renew the policy
In the context of health insurance, the document that evidences coverage under an individual plan is called a
To reinstate a lapsed life policy, the insured MUST
Which nursing home option BEST suits an individual who needs some nursing care and supervision but NOT full-time care?
Which of the following life insurance types are normally used for key employee indemnification?
Which statement best describes guaranteed renewable provisions?
When is a Group Health Policy required to provide coverage for a newborn child?
Under a Traditional IRA, interest earned is taxed according to the capital gains rate.
In group life insurance arrangements, what documents define the coverage for participants?
Health Insurance involves two perils, accident and which?
Bill the producer is collecting the initial premium on a health policy. Which statement is true?
Which pairing correctly identifies the two health plan types in the Federal Employees Benefits Program?
Who is responsible for assembling the policy forms for insureds?
Disability income policies typically pay benefits in
Which characteristic is commonly associated with the preferred risk class?
During the accumulation period of an annuity, who is authorized to surrender the contract?
Annuities become incontestable after how many years in force?
Which unfair trade practice involves a producer making malicious public statements regarding an insurer's financial condition?
In a group major medical plan, if the employer pays 75% of the premium and the employee pays 25%, how much would a $10,000 benefit be taxable as income under this plan?
A professional liability for which producers can be sued for mistakes for putting a policy into effect is called
What is the term for the list of prescription drugs covered by a pharmacy benefit?
A single-premium immediate annuity typically begins payments when?
A limited payment whole life policy provides what?
Which term describes the document that outlines policy coverage details and is sometimes called the Outline?
If an insured gives notice of loss and the insurer does not furnish the forms, what must the insured do?
Backdating refers to making the policy's effective date earlier than the issue date.
To be eligible for Medicare Part D prescription drug coverage, a person must have which of the following?
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms?
The __ is responsible for determining the appropriateness of a Medicare Supplement policy for an applicant.
What does a life insurance policy guarantee to the stated beneficiary upon the death of the insured?
A health insurance policy will typically cover
The open enrollment period for Medicare Part B occurs during which dates?
Spendthrift clause in life insurance serves to
Which entity must approve insurers to transact insurance in Louisiana?
Which statement is true about Level Term life insurance?
Tom has a rider on his disability income policy that guarantees the right to increase his benefits without a medical exam. What kind of rider is this?
Which type of business insurance is designed to cover the ongoing costs of operating the business while the owner is disabled?
Sole proprietors may deduct health costs paid from earnings in what percentage?
Which entity is primarily responsible for creating the policy forms that insureds receive?
Why do pre-death distributions from a modified endowment contract (MEC) receive different tax treatment than other life insurance policies?
What kind of policy is described as having 80% to 90% of the premium invested in fixed income securities and the remainder in contracts tied to a stock index?
Which plan pays tax-free benefits to employees?
To solicit health insurance products in Louisiana, the agent must hold which license?
A disability elimination period is best described as
Reinstatement after lapse typically requires which of the following?
A payor rider is designed to
A master contract and certificate of coverage can be found in which type of policy?
A viatical settlement broker may NOT
Uniform Optional Provisions: Which provision covers a claim when a portion of the premium is past due and the insurer pays only a partial claim?
Which of the following is NOT a required provision in an accident and health insurance policy?
An individual who removes risk by never purchasing stocks is engaging in
Disability insurance becomes incontestable after how many years in force?
A cease and desist order
A(n) ______ sells, solicits, or negotiates insurance on behalf of insurance companies for compensation.
What is the immediate specific event causing loss and giving rise to risk?
James misstates age on a life policy; death benefit amount is?
Which of the following is considered to be an alternative to a life settlement?
The rights to recover payment made to the insured from the negligent party are called?
What guarantees that the statements supplied by an insurance applicant are true?
In which situation would the insurer be liable for a loss?
Which statement best defines replacement in life insurance?
Which item is not a characteristic of a major medical expense policy?
If there is no reciprocal arrangement with the domicile state, can a nonresident producer be licensed in Louisiana?
A domestic insurance company in Louisiana MUST
Which term best describes a person who represents an insurer and sells its policies?
If a policy owner pays premiums more frequently, what happens to the overall policy cost?
How is a preexisting condition generally defined in terms of time relative to policy issue?
Which type of life policy requires premiums to be paid up within a limited number of years?
The insurer assuming the risk in a reinsurance arrangement is called the
What is the primary purpose of Attending Physician Statements in underwriting?
After the first payment is made, the grace period for an accident and health policy is
Which of the following is a dividend option available to life insurance policy owners?
Which product type requires a securities license to be sold due to its investment component?
From an insurance perspective, what is the main risk associated with disability?
Which statement best describes how deferred annuity earnings accumulate for tax purposes?
Which of the following does restorative dental treatment cover?
A nonsmoker, of average weight, and in excellent health would most likely be in which risk category?
A proposed insured for health insurance policy was treated for heart disease within the past year. When applying for health insurance, the heart disease treatment
A refund annuity is an annuity that, upon the annuitant's death during the distribution period, pays the beneficiary what?
All of these plans are common exclusions to a life insurance policy EXCEPT
In Louisiana, legal action can be taken for up to one year against an insurer for failure to pay health insurance claims after proof of loss was submitted.
For underwriting, which source may be used to obtain information about an applicant's character and personal habits?
Which policy feature makes a universal life policy different from a whole life policy, in terms of premium payments?
Which of the following employers is ERISA-regulated?
If an insurer issues a policy with a guaranteed issue provision, what does that mean?
In a universal life policy, which characteristic describes death benefit options?
Which nonforfeiture option provides extended term insurance?
Which process involves the insurer overseeing hospital stays to confirm schedule?
Which method is used to calculate the taxable portion of each annuity payment?
Under HIPAA, when can a group health policy renewal be denied?
The entire contract includes the actual policy and the
What term describes the insurer's ability to make unpredictable payouts to policyowners?
A preexisting condition is a condition for which medical advice or treatment was recommended by or received from a provider of health care services with ___ months preceding a health policy's effective date
Field underwriting performed by the producer involves which activities?
A nonresident producer from outside Louisiana may be licensed in Louisiana if which condition exists?
Which of the following is an element of a valid contract?
A guaranteed issued policy has no
With a stop-loss limit of 5,000, a deductible of 500, and an 80/20 coinsurance on 25,000 of losses, the insured pays
Which statement about Medicare Supplement policy benefits is true?
Which type of policy would only provide coverage for specific illnesses such as cancer or stroke?
What is the life insurance rider called that allows purchasing more insurance as you age without evidence of insurability?
Which statement is true about paid-up dividend options in a life policy?
How often must the Commissioner examine each domestic insurance company?
When does an immediate annuity begin making payments?
In a Louisiana small employer scenario, if the number of eligible employees is exactly 50, the employer qualifies as what category?
Which organization protects insureds from insurance company insolvency?
If the annuitant dies before the annuity start date, what will be paid to the beneficiary?
What is the term for the insurer that takes on risk from another insurer?
Which statement best describes the Roth IRA tax-free withdrawal requirement?
Which statement correctly describes accelerated benefits in life insurance?
Underwriters can acquire information from all of the following sources except
Which of the following is a nonforfeiture option?
Krissa buys a 10-year level term life policy with a death benefit of $200,000. Which statement is true?
Which metal tier represents the highest actuarial value among ACA plans?
Life insurance policies will normally pay for losses arising from which scenario?
When are group disability benefits considered to be tax-free to the insured?
Maria would like an annuity that provides a guaranteed accumulation or payout. What is this type of annuity called?
What is issued to each employee of an employer health plan?
A change in an insurance application requires which action by the applicant?
In a contributory group disability plan with 60% employer premium and 40% employee premium, what portion of the premium is paid by the employee?
Louisiana licensed producers must complete continuing education; how many hours are required every two years?
Under HIPAA, which item is considered individually identifiable health information?
What are the levels of coverage as defined by the Affordable Care Act?
A health insurance plan that requires a fixed amount to be paid before any benefits in a calendar year is described as which feature?
The outline of coverage for a Medicare Supplement policy must include which of the following?
A viatical settlement contract results in proceeds that could be subject to creditors' claims.
Which plan typically does not permit employee pre-tax contributions?
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a
Which statement about whole life insurance is true?
Which of these is not a characteristic of the accelerated death benefit option?
In an insurance contract, the applicant's consideration includes which of the following?
If an annuity shows that the annuitant dies before the start date, what is paid to the beneficiary?
Which is not a characteristic of a major medical expense policy?
On which page of an individual long-term care policy form must the renewability provision be located?
A preexisting condition is defined as a condition for which medical advice or treatment was recommended by or received from a health care provider within how many months preceding the policy's effective date?
Which statement best describes the purpose of proof of loss in an insurance claim process?
Louisiana life insurance policies provide a free-look period lasting how many days?
According to HIPAA, when an insured individual leaves an employer and immediately begins working for a new company that offers group health insurance, the individual
In Louisiana, Long-Term Care policies issued must include which feature?
Which arrangement allows a lender to hold a temporary interest in a life insurance policy as security for a loan?
A whole life policy option where extended term insurance is selected is called a(n)
Which statement about Coordination of Benefits is true?
What describes a rider in an insurance plan?
What is the primary factor that determines the benefits paid under a disability income policy?
Which policy is typically issued by a mutual insurer and provides a return of dividend surplus?
In a unilateral insurance contract, which party has the obligation to perform?
In Louisiana, what term describes a company authorized to transact insurance by the state regulator?
The authority granted to a licensed producer is provided via the
Which is not a standard exclusion?
Which statement about renewable Term Life policies is true?
Endodontic treatment refers to which dental procedure?
Insurable interest in life insurance exists at the time of application. (Reframed for testing)
Which of the following is an example of a primary care physician?
To solicit insurance in Louisiana, which license is required for an out-of-state producer?
The period with no Social Security benefits for the surviving spouse is called the blackout period.
Which financial product is primarily used to provide retirement income?
A health plan has a deductible of $500 and coinsurance of 80/20. If a covered loss is $1,500, how much does the insured pay?
Which term describes an annuity that guarantees a fixed payout or accumulation?
What is the primary purpose of a Medicare Supplement policy?
Bryce purchased a disability income policy with a rider that guarantees him the option to purchase additional amounts of coverage at predetermined times without providing evidence of insurability. What kind of rider is this?
A nonresident producer from another state may become licensed in Louisiana if there is what condition?
What does COBRA allow an employee to do after termination?
Under COBRA, which statement about continuation coverage is true?
Survivorship life insurance is particularly useful in estate planning because it can provide funds to
Under COBRA, continuation coverage may be extended to which individuals after a qualifying event?
All of these are valid options for an Adjustable Life Policy EXCEPT
Which of the following is Medicare Part B also known as?
A health insurance policy that allows an insurer to change the policyowner's premiums, but NOT cancel the policy is called a
All of the following are functions of an insuring clause EXCEPT
What is the purpose of a deductible in health insurance?
Underwriting uses an investigative consumer report to gather information about which of the following?
A health plan that pays established amounts for listed injuries or procedures is called a
Which of the following is a common exclusion in vision plans?
In an 80/20 coinsurance arrangement with no deductible, which party pays 80% of covered expenses?
Which factor is most often used when underwriting a disability income policy?
Which of the following describes long-term care insurance?
All of these are considered sources of information that can assist an underwriter in determining whether or not to accept a risk EXCEPT
A medicare supplement policy can be cancelled by the insurer for
Which Medicare-related plan is designed to cover costs not paid by Medicare, including excess charges?
What is the primary purpose of advertising regulations in life, health, and accident insurance practice?
Which professional liability are producers sued for mistakes in issuing a policy?
After a disability policy has been in force for how many years is it considered incontestable?
If a policyholder selects a longer premium payment period for a whole life policy, what is the typical effect on the premium amount?
In a 20-pay life policy with a paid-up dividend option, which statement is true?
A long term care policy typically provides all of the following levels of care except
Loss of Income insurance provides which of the following?
What is the purpose for having an accelerated death benefit on a life insurance policy?
What is the role of a beneficiary in a life or health policy?
The tendency of individuals with higher loss exposure to purchase insurance more often than those at average risk is called?
In which relationship would there NOT be insurable interest?
Which process will the insurer oversee the insured's hospital stay to confirm that care is proceeding as planned and that discharge occurs as scheduled?
Which retirement plan is designed for the self-employed?
An underwriter's primary responsibility to the insurer is to protect against what?
Which disability policy provision allows an insurer to adjust policy benefits and rates if the insured changes to a more hazardous occupation?
Under which beneficiary designation is the policyowner prohibited from making changes to the policy without the beneficiary's written consent?
Which coverage provides daily hospitalization indemnity?
A producer must notify the Commissioner within ___ days of a felony conviction
Participation in a group health plan may be denied based on which factor?
Which provision in a whole life policy allows a policy owner to terminate the policy in exchange for a reduced paid-up policy?
Which policy covers the ongoing overhead costs of a business when the owner is disabled?
Which of the following is NOT a requirement for a Louisiana nonresident license for an Arkansas producer?
Which settlement option provides a monthly income to the beneficiary while the principal remains with the insurer?
In a contract of adhesion, how are the terms generally treated?
Which section lists the insured's name, policy period, and premium schedule?
What term describes the limited period available for group health plan enrollment?
Backdating a life insurance policy means the policy's effective date is earlier than the issue date.
Which of the following is NOT a qualification for establishing a Health Savings Account?
If a change to a more hazardous occupation occurs, which statement describes the effect on disability benefits?
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a(n)
Which of the following is NOT a characteristic of a Group Life Insurance Plan?
Under COBRA, a terminated employee's benefits must be the same and the premium cannot exceed what percentage?
Which option is not a valid dividend option for a life insurance policy owner?
A waiver of premium rider's trigger is disability
What is the purpose of the coordination of benefits provision in group health care?
Election of COBRA for continuation of health coverage will
Which of the following is NOT a nonforfeiture option?
In Louisiana, what is the standard grace period for life insurance policies?
What happens if the insured's age was accidentally misstated on an application for an individual life insurance policy?
Which is not a key underwriting factor?
The ___ is the individual responsible for payment to an HMO
Which protection is the insurer required to offer to each long-term care applicant at the time of purchase?
Which two actions are typically required for policy reinstatement?
On occasion, insurable interest may exist in the absence of economic interest. Which example illustrates this?
Which statement about accelerated death benefit options is true?
A life insurance claim with a per capita distribution would be payable to the
When a terminated employee wants to convert group life coverage to an individual policy, how many days do they have?
Medicaid is intended for which group?
A Medicare supplement basic benefit is
A life insurance policy that is subject to a contract interest rate is referred to as
The Do Not Call registry offers exemptions for calls placed from all of the following categories except which?
Which of the following would be considered an underwriting duty of an agent?
Which statement regarding the annuitant is correct?
Before a producer may sell, solicit, or negotiate insurance for an insurer, what must they secure from the insurer?
An individual covered under a Blue Cross Blue Shield plan is called a(n):
Elimination periods are a characteristic of which type of policy?
Which of the following actions by a producer would NOT result in a license suspension or revocation?
The death claim payment must be completed within which period to avoid interest accrual?
Which of the following is an example of endodontic treatment?
In health insurance, a plan that pays fixed amounts for listed procedures or injuries is described as a
A guaranteed issued policy has no what?
Which of these annuities require premium payments that vary from year to year?
An annuitant dies during the distribution period. What type of annuity would pay the difference between the annuity value and the income payments already made to a beneficiary?
Which item is commonly excluded from life insurance policies?
Which item is a basic benefit of Medicare supplement plans?
Which term describes authority granted to an agent by the principal in writing?
Which of the following is NOT a type of Medicare Advantage Plan?
The blackout period is associated with which benefits?
An insurable interest in insuring a person's life exists if an economic interest exists for the continuance of the insured's life.
Which annuity option guarantees a fixed number of payments regardless of whether the annuitant is alive?
In a workplace incident in a store parking lot, which party would most likely be covered under Workers' Compensation?
In a decreasing term life policy, which statement describes the relationship between death benefit and premiums?
A Medicare Supplement policy must not contain benefits that duplicate Medicare benefits.
A waiver of premium rider allows an insured to waive premium payments if the insured is
Which action is not within the rights of a life insurance policyowner?
If changing the beneficiary requires the beneficiary’s signature, what type of designation is this called?
A beneficiary change can occur: normally at any time during the policy term
A policyowner can receive a percentage payment of the death benefits prior to death by using which type of contract?
Which statement best describes noncancellable disability income policies?
Which of the following is an example of naming a beneficiary by class?
Which plan would be most appropriate for an individual on Medicare and is concerned that Medicare will NOT pay for charges exceeding the approved amount?
A policy owner who anticipates death or develops a life-threatening condition may obtain proceeds from a life insurance contract. These proceeds are known as?
When applying for life or health insurance, which of the following is likely to occur?
In life insurance, insurable interest is present when
In a Louisiana life policy sale, the producer's representation is on behalf of which party?
All health benefit plans issued after January 1, 2014 must provide which service?
A whole life policy option where extended term insurance is selected is called a(n)
Which life insurance is normally associated with a Payor Benefit rider?
Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) ?
A life insurance policy written on one contract for two people in which it is payable upon the first death is called
All of the following are examples of a Business Continuation Plan EXCEPT
What type of insurance covers the treatment and care of dental problems?
Which beneficiary status requires the policy owner's consent for policy changes?
Terminally-ill life policyowners may sell their policy at a discount to a third party. This type of agreement is called a
Karen the producer pays for her client's initial premium payment as an incentive for purchase. This act is considered a
How many months can a life insurance policy normally be backdated from the date of application?
Which life insurance option is typically the least expensive for paying off a long-term debt?
The waiver of premium does NOT include which provision?
For group health plan eligibility, a gap in coverage must not exceed how many days to avoid affecting pre-existing condition determinations?
What is the nonforfeiture value of an annuity before annuitization?
A producer license is NOT required in which activity?
A Medicare supplement plan can be cancelled by the insurer for
A business will typically use which type of life insurance to cover its employees?
The renewal provision that allows continued coverage but with premium changes is called
Medicare Supplement policies are provided by which entity?
What is the primary purpose of submitting a health claim form to the insurer?
A newborn must be covered for how many days from birth?
What is the reinstatement provision in a health insurance policy typically described as?
Which statement best describes the document used to outline policy features, benefits, exclusions, and riders in a Long-Term Care policy?
Chris is an insured bricklayer who severed his left hand and cannot perform his primary duties, but he also works as a substitute teacher. He collects a full disability income check monthly. How does his policy define total disability?
Which policy type is described by a cash value accumulation with the potential for increasing death benefit, as seen in a policy where the cash value grows over time and the face amount increases?
Which of the following is typically covered as part of standard health insurance benefits?
Which of the following describes the maximum benefit limit concept in group or disability policies?
All of the following are exempt from the 10% tax penalty for early qualified plan withdrawals EXCEPT
For a deferred annuity, what is the minimum time before benefit payments may begin after purchase?
In Louisiana, the free look provision applies to which type of policy?
During which period will an insurer continue coverage in full force as if the late premium had been paid?
Which term describes the insurer's monitoring of inpatient care to ensure discharge occurs on schedule?
An employer may qualify for health care tax credits through SHOP marketplace if that employer has fewer than how many employees?
Which annuity type is tied to a stock market index but does not require the purchase of underlying stocks?
Which of the following is an example of a tax-qualified retirement plan?
How is Medicare Part B funded?
Which nonforfeiture option provides cash to the policyowner upon surrender?
What is the length of the grace period after the first premium payment for an accident and health policy?
Which scenario would NOT qualify for Medicare?
What is the general federal tax treatment of life insurance proceeds paid to a beneficiary?
Which of these factors is NOT taken into consideration when determining the cost of a long term care policy?
The policy, including endorsements and attached papers, constitutes what?
What would be an expense factor in an insurance program?
Under COBRA, termination of employment makes an employee eligible for continuation of coverage provided what condition is met?
With a life policy that includes a cost-of-living rider, a 4% CPI increase on a $100,000 face value would raise the face value by how much?
All Medicare Supplement policies MUST contain which provision?
Per capita distribution in a life policy claim is typically payable to
Under HIPAA, the 10% excise tax on an early IRA withdrawal is not applied if the withdrawal is used to cover medical expenses exceeding what percentage of the individual's adjusted gross income?
In Level Term life insurance, what does the term 'level' describe?
Errors on an insurance application commonly occur in which area, for which the incontestable clause does NOT apply?
According to the Health Insurance Portability and Accountability Act (HIPPA), when can a group health policy renewal be denied?
A fixed annuity purchased by Lisa has what typical disadvantage?
Justin is receiving disability income benefits from a group policy paid for by his employer. How are these disability benefits treated for tax purposes?
What are an applicant's statements concerning occupation, hobbies, and personal health history regarded as?
What does the term maximum benefit describe in a life insurance policy?
A renewable Term Life policy can be renewed
A business entity wishing to act as an insurance producer MUST do what?
Which dividend option is used to reduce the next premium payment?
Which description characterizes a reduced paid-up nonforfeiture option?
What is the type of life policy that pays on the death of the last surviving insured?
What does the term incontestable mean in insurance policy terms?
Which policy has cash values that vary according to investment performance of stocks?
Which statement best describes the relationship between Medicare benefits and Medicare Supplement benefits?
Which type of life insurance is designed to accumulate a cash value and reserve over time?
Which of the following policies does not build cash value?
All of the following are valid policy dividend options for a life insurance policyowner EXCEPT
A payor benefit rider is designed to do what in a life insurance arrangement?
What is required for a contract to be valid?
All of the following are considered to be nonforfeiture options available to a policyowner EXCEPT
What is the legal action allowed for an insurer against the third party responsible for a loss called?
How are gains in an annuity treated for tax purposes?
A dependent child may remain on a parent's health insurance plan beyond age 26 if the child
Which term defines the time period a disabled person must wait before benefits are paid under an individual disability policy?
Which statement about policy loans is true?
Disability policies become incontestable after how many years in force?
The waiver of premium does NOT include which provision?
Credit Accident and Health plans are designed to help with what?
Which statement best describes federal income tax liability on life insurance proceeds paid to a beneficiary?
An insurance producer who uses an assumed name must notify the commissioner prior to using the name.
Under a life insurance policy, what does the insuring clause state?
Regarding life insurance dividends, which statement is true?
Which policy covers two or more people with the death benefit payable upon the last person's death?
Which statement about collateral assignments is true?
To solicit insurance contracts, a licensed producer must be _____ by an insurer.
Which of the following actions may an insurance company NOT do in a health policy that contains a guaranteed renewable premium benefit?
Keogh plans were designed to provide pension benefits for which group?
Annuity policy incontestability occurs after how many years in force?
A renewable Term Life Insurance policy allows the policyowner the right to renew the policy
Within how many days must an insurer furnish forms for filing proof of loss after receiving notice of a claim?
A viatical settlement broker may NOT
Which party must be notified prior to using an assumed name for an insurance business?
A health care provider claim may be settled using which of the following payment methods?
How long after its effective date will an individual life insurance policy become incontestable?
Which term describes authority that is not explicitly granted in the agency contract but that an agent can reasonably assume to carry out duties?
Under the suicide clause, if suicide occurs within the specified period from inception, the insurer is liable for which of the following?
In an employer-sponsored contributory group disability income plan where the employer pays 60% and each employee pays 40%, at what percent are income benefits taxed to the employee?
Which entity regulates claim settlement practices?
How does paying premiums more frequently affect policy cost?
A producer intentionally submits a false statement in support of a claim. This is an example of which misconduct?
In a key employee disability policy, where the employer pays the premiums, what is the tax consequence of the benefits paid to the employee?
Which clause states the contingent beneficiary's rights in a common disaster?
A life insurance policy designed to reduce the death benefit over time to align with a decreasing loan balance is called
When can a group health policy renewal be denied according to HIPAA?
Which of these would not be considered a presumptive disability?
Which of the following best describes the two major actions required for policy reinstatement after lapse?
Under MEC rules, which component is generally not taxed when distributed?
Which annuity option guarantees the annuitant cannot outlive the benefits?
Limited policies are designed to provide coverage for which type of health risk?
A Guaranteed Lifetime Withdrawal Benefit provides which protection?
Key person Disability Insurance pays the benefits to the
Without a section 125 plan in place, a payroll contribution to an HSA would be considered what?
If a life insurance policy has a beneficiary who has just received a claim payment, which statement about federal income tax liability is true?
Which action is an unfair claims settlement practice?
An endorsement found in an insurance plan which modifies the provisions of the policy is called a
In Louisiana, small employer health plans require a MINIMUM of __ employee(s).
In a policy replacement, who signs the notice of replacement?
In Louisiana, when a dispute arises between the insured and the life insurance company, the producer is considered to represent which party?
Regarding a disability policy funded by an employer, which statement best describes the tax treatment of benefits paid to the employee?
An endorsement found in an insurance plan that modifies the provisions of the policy is called which term?
A Roth IRA owner must be at least what age in order to make tax-free withdrawals
Before a producer may sell, solicit, or negotiate insurance for an insurer, the producer must have a(n) ?
When a Medicare supplement insurance policy is being replaced, who must sign the notice of replacement?
Which Medicare plan is described as a managed care plan and is commonly referred to as Medicare Advantage?
Which retirement plan qualifies for a federal income tax deduction?
A limited payment whole life policy provides what kind of protection?
Mark continues working after age 65 and is covered through his employer's group health plan. Which statement is TRUE?
A cost-of-living rider on a life policy affects the policy by doing what when the CPI changes?
Which statement is CORRECT regarding an individual applying for life or health insurance?
A rollover from a Traditional IRA to another IRA must be done within ___ days to avoid tax consequences
In a universal life policy, premium payments are NOT used for which of the following?
Which scenario illustrates unfair discrimination?
Which term describes a provision that excludes certain risks from coverage?
According to Louisiana law, group life insurance conversion privileges must NOT
Under a double indemnity provision, which death cause would trigger the extra benefit?
Which of the following illustrates unfair discrimination?
Which statement about applying for life or health insurance is true?
In contract terms, the phrase 'entire contract' refers to the policy and
What is the advantage of adding a children's term rider to a life policy?
In Louisiana, a small employer may not consist of more than how many eligible employees?
Which rider allows purchasing additional insurance at specific dates or events without evidence of insurability?
A business entity wishing to act as an insurance producer MUST
In Louisiana, the life insurance producer soliciting a policy is considered to represent the
Kathy pays a monthly premium on her health insurance policy. How long is her grace period?
Advertising regulations exist to do what?
The typical long-term care insurance policy is designed to provide a minimum of how many years of coverage?
A policy with a cash value that grows and a death benefit that may increase is which type?
Who assumes the investment risk with a fixed annuity contract?
Which of the following does Coordination of Benefits allow?
Which of the following actions is not considered rebating?
All of the following are examples of a Business Continuation Plan EXCEPT
Which policy type allows the policyowner to adjust premium payments and the face amount during the policy term?
In health insurance terminology, what term is typically used for a person covered under a Blue Cross Blue Shield plan?
Under a non-qualified annuity, interest is taxed after the exclusion ratio has been calculated.
In disability benefits from an employer-paid policy, the portion considered taxable is
Under a disability income policy, which provision would apply if the cause of an injury is accidental?
An alien insurer is an insurer that is headquartered outside the United States and does business in the United States. Which of the following describes an alien insurer?
Which type of policy must be guaranteed renewable?
Which action is commonly an underwriting duty of an agent?
In Louisiana, a domestic insurance company must be organized under which laws?
Which provision resulted in this deduction: a claim payment is reduced due to overdue premiums?
Which statement is true about the Part A Medicare hospital coverage eligibility?
Which type of life insurance is typically used by a business to cover its employees?
In replacing a life insurance policy, who is typically responsible for providing the notice of replacement to be signed by the applicant?
In replacing an existing life policy with a new policy, who must provide the notice of replacement to be signed by the applicant?
Which provision allows a policyowner to surrender the policy for a reduced paid-up policy of the same type?
Which of these is NOT considered to be a form of life insurance advertisement?
An individual covered under a Blue Cross Blue Shield plan is called a(n)
Which type of deductible applies a single deductible to both medical and dental coverage?
Estate conservation in estate planning refers to using life insurance to accomplish which objective?
What is the automatic continuance of insurance coverage referred to as?
An example of a primary care physician would be a
In a 4-year period, what is the minimum continuing education hours a Louisiana licensed producer must complete?
In an annuity with a fixed period payout, which option ensures a predetermined number of payments?
Which is NOT an element of a valid contract?
Which dividend option would an insurer invest the policyowner's money and add any interest earnings as the dividends accrue?
Which annuity would provide payments for a fixed number of times, regardless of whether the annuitant is alive?
Which type of annuity guarantees a stated number of income payments, regardless of whether the annuitant is alive?
What type of life insurance policy guarantees a minimum interest rate with the potential to earn a higher credited rate?
After how many years from the date of issue can a policy no longer be cancelled by the insurer for misstatements, except fraud?
Distributions from a Health Savings Account (HAS) for qualified medical expenses are
In estate planning, survivorship life insurance is used to provide funds to
Underwriting health insurance considers medical history such as which of the following?
Which term describes authority granted by the principal to the agent in writing?
A health insurance policy will typically cover
What is the required grace period for a life insurance policy sold in Louisiana?
Which disability is defined as being less than total impairment but permanent?
Proof of loss timing applies to which type of policy claims?
A policyowner may change two policy features on what type of life insurance?
All of the following plans allow for employee contributions to be taken on a pre-tax basis EXCEPT
What happens when an insurance policy is backdated?
All ____ policies must be guaranteed renewable.
Which of the following would be considered a possible applicant and contract policyholder for group health benefits?
Which of these characteristics of an applicant is NOT taken into consideration when assessing risk for Disability coverage?
Which term describes the professional liability for mistakes in putting a policy into effect?
Which term describes the practice of using life insurance to satisfy estate tax obligations and preserve family wealth?
Under HIPAA, creditable coverage allows what regarding preexisting condition waiting periods when enrolling in a new group health plan?
The factor used most often when underwriting a disability income policy is
Under a Major Medical plan with zero deductible and 80/20 coinsurance, a $1,000 claim results in the insured paying
In policy terminology, the maximum benefit is best described as
All Louisiana licensed producers must complete which continuing education requirement?
Which of the following is NOT an example of a Business Continuation Plan?
Which of these is NOT a qualifying event for Medicare?
For a 10-year level term policy with a death benefit of $200,000, which of the following is true?
Which statement is an example of naming a beneficiary by class?
Which annuity payout option allows the policyowner to choose a pre-determined number of benefit payments?
Pre-certification and concurrent review differ in that pre-certification occurs before what?
Life insurance replacements can be defined as which of the following?
Which of the following are the premium payments for a Universal life policy NOT used for?
A Medigap policy is designed to pay costs associated with Medicare Parts A & B.
Which items are typically included in the 'entire contract' provision of a life insurance policy?
In juvenile life insurance with a Payor Benefit rider, who is typically protected by the rider?
Within how many days must a licensee submit a change in address?
Which policy pays out upon the death of the last surviving insured?
In level premium permanent life insurance, the reserve is designed to eventually equal the policy's face amount. True or false?
Under a typical group health policy, which member is most likely to be eligible for immediate coverage?
Proof of loss on a health insurance claim must be submitted within __ days after the insured's date of loss.
How are contributions to a Roth IRA treated for tax purposes?
When a small employer health insurance plan is offered, it must be available
Which statement best describes the relationship between the premium and the payment period for a whole life policy?
The premium for a modified whole life policy is
An insurer has __ days to file a notice of appointment to the commissioner.
When an insurance producer conducts business under an assumed name, what must be done before using that name?
A rehabilitation benefit is intended to
When replacing health insurance, which is an important consideration?
What is the minimum Long-Term Care policy benefit period?
A provision that allows a policyowner to withdraw a policy's cash value interest free is a(n)
Under the subrogation clause, legal action can be taken by the insurer against the
A Whole life Insurance policy accumulates cash value that becomes
Which living arrangement provides supervised housing with some nursing services but not 24-hour medical care?
What happens to the interest earned if the annuitant dies before the payout start date?
What is an insurer required to do when faced with an error made under the Misstatement of Age Provision?
Kate has a Major Medical Plan with 75/25 coinsurance and a deductible of $25. How much will she pay if she incurs a $125 bill before meeting the deductible?
Which statement best describes a term policy?
Proof of loss for a health claim is typically required to be furnished within what period after the loss occurs?
Which term describes the risk-management approach of avoiding the risk of investment loss by not purchasing stocks?
Under an individual health plan, what document is issued to the insured?
In an annuity, which option provides payments for the life of the annuitant with no residual guarantee after death?
If the insured and policy's beneficiary die in the same accident, the common disaster provision states the insurer will continue as if
The enrollment period is used in reference to which type of health plan?
Which policy is described as being subject to a contract interest rate credited to cash value?
Which concept describes the fundamental role of insurance in risk management?
The __ of coverage describes policy features, benefits, exclusions, and riders in a Long-Term Care policy.
Which type of coverage pays a fixed daily amount directly to the insured for hospitalization, regardless of other health coverage?
Insurance represents the process of risk?
Which feature best describes a Guaranteed Insurability Rider?
Which statement is NOT true regarding a Critical Illness Plan?
In a deferred annuity, earnings accumulate on what basis?
Which type of life insurance is designed to pay the balance of a loan if the insured dies before the loan is repaid?
Which value in a Whole life policy is available for borrowing against?
A Roth IRA owner must be at least what age in order to make tax-free withdrawals, provided the account has been owned for the required period?
On what type of life insurance can a policy owner change two policy features?
A change in an insurance application requires
In group medical insurance, the single contract issued to an employer is known as what?
What is the purpose of a Disability Income Benefit?
Lorenzo is self employed with an S corporation. He is unmarried and had a net profit for the year. What are the tax ramifications of his health insurance premiums paid for the year?
To be eligible to solicit insurance contracts, a licensed producer must be ____ by an insurer.
Which of the following does a life insurance policy summary normally include?
Which of the following is not typically considered a factor in underwriting life insurance?
Tyler purchased a disability policy with a waiver of premium rider. He becomes disabled on May 1 and begins benefits on June 15. On which date are his premiums waived?
Which of the following decisions would a Health Savings Account (HAS) owner NOT be able to make?
During underwriting, which information is commonly reviewed?
Erica is 35 and owns an IRA. At what age can she begin to receive distributions without a tax penalty?
Which of the following is INELIGIBLE to participate in a Section 125 plan?
The free look period in Louisiana is ___ days.
An error was made on Mary's life insurance application. Errors commonly occur on applications in which area and for which the incontestable clause does NOT apply?
Which statement best describes the Louisiana Life and Health Insurance Guaranty Association?
Which statement best describes insurable interest in life insurance?
Which item is typically included in a life insurance policy summary?
What term describes a health care payment system where the provider is paid for each service rendered?
Which of the following would be considered elective cosmetic surgery?
Ambiguities in an insurance policy are always resolved in favor of which party?
Claims payable to a Disability Income Insured, even when the insured can continue to work, are the result of a
What does a Guaranteed Lifetime Withdrawal Benefit provide to the annuitant?
A beneficiary change can occur:
A whole life policyowner wants to add coverage for his children. Which rider would accomplish this?
A provision that allows a policyowner to temporarily give up ownership rights to secure a loan is called a(n)
Which statement about advertising regulations is true?
Underwriting in insurance is the process of evaluating what primary factor?
What happens to the coverage under a children's term rider when that child reaches a certain specified age?
Long-term disability benefits are typically coordinated with which benefit plan?
In a group accident and health plan, the master contract is issued to the employer for the purpose of administering benefits to the group. Which option best describes this arrangement?
The legal action provision in a health contract is limited to no more than years.
If the insured's age was misstated at issue and death occurs, which statement best describes the insurer's liability?
NOT true about insurable interest?
Which body regulates claim settlement practices within a state?
What is the term for purchasing life insurance to enable heirs to pay estate taxes?
What is the maximum number of days allowed to complete a traditional IRA rollover to avoid tax consequences?
What amount will be paid under a policy if the insured misstated his/her age?
What is the name of a life policy in which premiums are paid up within a limited number of years?
An injury that renders the insured incapable of performing one or more important job duties and results in decreased income would qualify for benefits under which disability provision?
Which policy feature makes a universal life policy different from a whole life policy?
Which provision helps determine the proportion of a claim paid when multiple insurance policies cover the insured?
Which type of policy pays the face amount at the end of the specified period if alive?
Which entity exists to protect policyholders by paying claims when an insurer becomes insolvent?
If a life insurance policy designates Elizabeth as a beneficiary, who receives the death benefit?
A viatical settlement contract proceeds may be subject to creditors' claims.
The premium payment mode that results in the highest overall cost would be
A late enrollee exclusion can be up to __ months?
What is the provision called that allows a policy to stay in force when a premium is paid late?
Which of the following is an example of the insured's consideration?
Which policy arrangement restricts the owner's ability to make changes without the beneficiary's written consent?
Reggie purchased a life insurance policy with a face amount of $500,000. After 15 years, the cash value has accumulated to $100,000 and the policy's face amount has become $600,000. Which type of life insurance policy is this?
Which is not considered a source of information to assist underwriter?
Which payer is typically primary when an individual has both a group health plan and Medicare?
The branch of dentistry that deals with replacement of missing parts is called which specialty?
Which of these factors is NOT taken into account when determining an applicant's life insurance needs?
A domestic insurance company is defined as one formed under the laws of which jurisdiction?
Which configuration would have the highest premium for a disability income policy: 30 day waiting period with 5 year benefit period, 60 day waiting period with 2 year benefit period, 90 day waiting period with 1 year benefit period, or 14 day waiting period with 10 year benefit period?
Endorsements and attached papers are considered part of which contract element?
A COBRA extension can be triggered by which of the following events?
In the context of Long-Term Care policy documents, which term describes the document that outlines policy features, benefits, exclusions, and riders?
A Medicare supplement plan can be canceled by the insurer for nonpayment of premiums.
What type of life insurance is designed to pay the balance of a loan if the insured dies before the loan is repaid?
Which of these will have the highest monthly payout upon annuitization?
Which of the following is typically considered a source of underwriting information?
Which would be a valid reason why a policy premium would be higher than the standard premium?
For Medicare Supplement policies, the maximum duration of allowed exclusion for pre-existing conditions is how many months?
A producer who sells most of his/her insurance policies to family members is said to be engaging in
Which market index is normally associated with an indexed annuity's rate of return?
In the Sonya scenario, on which date would coverage become effective?
Which of the following describes a person NOT acceptable by an insurer at standard rates because of health history, occupation, or hobbies?
Which action is NOT considered rebating?
Continued coverage under COBRA would be provided to all of the following EXCEPT
Converting a group plan to permanent life insurance requires
A renewable Term Life Insurance policy can be renewed
How may an insurer screen applicants for HIV?
A Whole life Insurance policy accumulates cash value that becomes
What is an insurance policy's grace period?
Which of the following is a nonforfeiture option available to a policyowner?
According to life insurance contract law, insurable interest exists
What does premium mode describe?
Which of the following describes collateral assignment?
A policy written on two lives that pays out on the first death is commonly described as
A waiver of premium rider is designed to waive premiums when the insured experiences what kind of disability?
Which statement about an adjustable life policy is true?
Which statement best describes when the automatic premium loan using cash value would occur?
When the Commissioner of Insurance requests a producer's business records, the records must be produced
What is the primary difference between Long Term Care Partnership Plans and Non-Partnership Plans?
A Medicare supplement basic benefit is the first 3 pints of blood per year.
In Louisiana, for how many years can an insurer contest a life insurance policy after issue?
A life insurance policy that has premiums paid up within a select time period is called
What is the primary purpose of a rating service company such as A.M Best?
In a pharmacy benefit, which term describes the list of prescription drugs covered by the plan?
Louisiana Health Insurance Association provides health coverage to which group?
If health policy reinstates after lapse for nonpayment, how many days is the sickness claim waiting period before coverage begins?
An individual who has a contract with an insurance company to represent it is called a/an:
A life insurance claim which involves a per capita distribution of policy proceeds would be payable to the
In Louisiana practice, the producer is considered to represent which party in disputes between insured and insurer?
Which life policy pays the face amount at the end of the specified period if the insured is still alive?
Which would be a valid example of a group health benefits policyholder in a typical group plan?
If an insurance producer uses an assumed name, when must the Commissioner be notified?
Under no loss no gain laws, a replacing policy must cover ongoing claims for the policy it replaces.
In a major medical plan with first-dollar coverage, which statement is true?
In the context of an insurance policy, the term 'maximum benefits' refers to what?
The element that shows each party is giving something of value in an insurance contract is called what?
A life insurance policy with a double indemnity rider pays an additional benefit if the insured dies as the result of an accident. In which scenario would the double indemnity apply?
Which of these is NOT considered to be a common life insurance nonforfeiture option?
A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT
In a group health plan, who typically receives a certificate of coverage?
For newborns, what is the minimum required period of coverage from birth?
Which statement describes an unfair claims settlement practice?
Which description best defines a life annuity with a guaranteed number of payments, regardless of survival?
Proceeds from a life insurance policy are protected from the beneficiary's creditors by which clause?
Under an accident and health plan, coverage for newborns must include coverage for which condition?
Insurable interest in a life insurance contract exists at what point?
Which type of coverage would someone needing custodial care at home require?
Which of the following is not a valid policy dividend option for a life insurance policy owner?
Which term describes the risk-management approach of avoiding risk by not participating in an activity such as investing in stocks?
If the insured's age was misstated on a life policy and the insured dies, how is the death benefit determined?
Which term describes a guarantee that the statements on the application are true?
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)
Which term refers to a person who has a contract with an insurer to represent it and solicit insurance?
Which of these is NOT considered to be a nonforfeiture option in a whole life insurance policy?
Upon receipt of proof of loss, an insurer must pay a life insurance death benefit claim promptly.
Under a nonforfeiture option, the cash value is used to purchase which type of insurance?
Rob purchased a standard whole life policy with a $500,000 death benefit when he was age 30. His insurance agent told him the policy would be paid up if he reached age 100. The present cash value of the policy equals $250,000. Rob recently died at age 60. The death benefit would be
A foreign insurance company doing business in Louisiana is defined as:
All statements concerning whole life insurance are false EXCEPT When surrendered, income taxes may be owed
Which of the following best describes the purpose of key person disability coverage?
What must be designated for a business entity to be licensed as a producer?
Which statement is true about Medicare Part A eligibility?
A life insurance replacement transaction could result in which of the following charges?
Which medical specialty is most commonly considered a primary care physician?
A master contract and certificate of coverage are found in which type of policy?
Decreasing term life insurance is often used to provide coverage for which of the following?
What type of injury would NOT be covered under a health insurance policy?
Which rider would add coverage for a child to a parent's life insurance policy?
Which statement best describes a universal life policy?
Which ACA metal level is typically the lowest-cost option with essential benefits?
After an annuity has been in force for how many years, it becomes incontestable?
If disability insurance from an employer has 75% of premiums paid by the employer and 25% by the employee, what portion of the disability benefits is taxable?
Which of the following is considered to be a point of service (POS) plan?
Which pair correctly identifies the FEHB plan types?
Medicare Advantage plans are commonly referred to as which Part?
Contributions to a Roth IRA are treated for tax purposes as
A permanent life insurance policy where the policyowner pays premiums for a specified number of years is called a(n)
All of these are standard exclusions found in a life insurance policy EXCEPT
Generally, which three levels of care are Long-Term Care policies provided with?
In a group health benefit plan, the policyholder is considered to be the
Which type of policy combines the flexibility of a universal life policy with investment choices?
In a long-term care policy, which of the following is NOT an activity of daily living (ADL)?
According to HIPAA, renewal of a group health policy can be denied if
Which action is restricted for a viatical settlement broker prior to licensing?
Which term describes the person who sells, solicits, or negotiates insurance on behalf of insurers for compensation?
What is the free-look period for a life insurance policy sold in Louisiana?
The group life underwriting risk selection process helps protect insurers from which problem?
Which of these would limit a company's liability to provide insurance coverage?
The power given to an individual producer that is not specifically addressed in his/her contract is considered what type of authority?
A provision that allows a policy owner to withdraw a policy's cash value interest free is a
What payment system pays health care providers for each service performed?
Continuous 24-hour care provided by licensed medical professionals under the direct supervision of a physician is called
As a beneficiary of a traditional IRA, you pay which taxes on withdrawals?
Which statement about the insuring clause is true?
Which clause protects policyowners from misrepresentation caused by innocent mistakes?
Which of the following is an example of a defined contribution retirement plan?
Which term best describes an insurer formed under the laws of another state and doing business in Louisiana?
A noncancellable policy differs from a guaranteed renewable policy in that it may never do what?
Which policy structure provides life insurance to a group of employees under a single master contract?
When a decreasing term policy is purchased, it contains a decreasing death benefit and
Which provision allows a policy owner to withdraw cash value from a policy, potentially altering later benefits, and is sometimes known as partial surrender?
Who typically pays the premium for a standard health policy?
A Medigap policy is designed to pay costs associated with which Medicare parts?
What will the beneficiary receive if an annuitant dies during the accumulation period?
What is the purpose of the Medical Information Bureau (MIB)?
Which statement describes when a life policy becomes effective?
After a disability policy has been in force for how many years is it considered incontestable?
Which policy type features cash values tied to separate accounts and allows investment performance to affect the cash value?
Which is an example of the insured's consideration in a policy transaction?
Which principle do insurers use to predict changes in risk across a large group?

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