Final Exam - Louisiana Life and Health/ 150 Q&A/ A+ Score Solution.
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Course
Louisiana Life and health Insurance
Institution
Louisiana Life And Health Insurance
Final Exam - Louisiana Life and Health/ 150 Q&A/ A+ Score Solution. Terms like:
An insurer operating in the U.S. but headquartered outside the U.S. is - Answer: an alien insurer
Group dental plans will frequently place a limit on annual benefits in order to minimize - Answer: adverse selecti...
Final Exam - Louisiana Life and Health/ 150
Q&A/ A+ Score Solution
An insurer operating in the U.S. but headquartered outside the U.S. is - Answer: an alien insurer
Group dental plans will frequently place a limit on annual benefits in order to minimize -
Answer: adverse selection
All of the following are considered to be fraud EXCEPT - Answer: collecting a charge for
insurance that is less than the charge applicable to that insurance
A producer's license in Louisiana must be renewed every - Answer: Two years
An insured has a health plan that pays established amounts in accordance with a list of injuries,
surgical procedures, or other losses. This list is called a - Answer: benefit schedule
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a terminated employee's
benefits must - Answer: be the same and the premium cannot exceed 102%
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,If a producer has been engaged in an administrative action by any governmental agency, within
how many days following the final deposition must the producer report the action to the
Commissioner? - Answer: 30
Ownership of a life insurance policy may be temporarily transferred with a(n) - Answer:
collateral assignment
Under a Traditional IRA, interest earned is taxed - Answer: upon distribution
When a Medicare Supplement insurance policy is being replaced, who must sign the notice of
replacement? - Answer: The producer and the applicant
In Louisiana, regulation for variable insurance contracts are set by all of the following EXCEPT: -
Answer: State attorney general's office
Which of these factors help determine an insured's life insurance premium? - Answer:
avocation (hobby)
In general practice, which statement is true of the powers of the Commissioner of Insurance
with respect to access to a producer's business records? - Answer: Records must be produced
upon the request of the Commissioner to the producer
When are group disability benefits considered to be tax-free to the insured? - Answer: When
the recipient pays the premiums
An insurable interest in each other's lives may exist in absence of an economic interest when
the individuals are - Answer: Marriage partners
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, What is the elimination period of an individual disability policy? - Answer: Time period a
disabled person must wait before benefits are paid
What happens to interest earned if the annuitant dies before the payout start date? - Answer: It
is taxable
In which of the following situations would the insurer be liable for a loss? - Answer: The insured
suffered an injury as an innocent bystander during a bank robbery
In what form do disability income policies typically pay benefits? - Answer: Periodic income
Which of the following is typically NOT eligible for coverage in a group health policy? - Answer:
Temporary employee
Which of the following would be considered a possible applicant and contract policyholder for
group health benefits? - Answer: Employer
A Medicare Supplement Policy is - Answer: designed to fill in the gaps of Part A and Part B
Medicare
Under a Modified Endowment Contract, what are the likely tax consequences? - Answer: Pre-
death distributions will become taxable
In a Long-Term Care policy, activities of daily living (ADL's) can be each of the following EXCEPT -
Answer: Talking
Which of the following is an annuity that is linked to a market-related index? - Answer: Equity-
indexed annuity
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