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Louisiana Life and Health Final Exam 150 Questions with Verified Answers,100% CORRECT
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Louisiana Life and Health Final Exam 150 Questions with Verified Answers
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Louisiana Life and Health Final Exam 150 Questions withVerified Answers
When are group disability benefits considered to be tax-free to the insured? -
CORRECT 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 - CORRECT ANSWER Marriage partners
What is the elimination period of an individual disability policy? - CORRECT
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? - CORRECT ANSWER It is taxable
In which of the following situations would the insurer be liable for a loss? -
CORRECT ANSWER The insured suffered an injury as an innocent bystander during
a bank robbery
In what form do disability income policies typically pay benefits? - CORRECT
ANSWER Periodic income
Which of the following is typically NOT eligible for coverage in a group health
policy? - CORRECT ANSWER Temporary employee
Which of the following would be considered a possible applicant and contract
policyholder for group health benefits? - CORRECT ANSWER Employer
A Medicare Supplement Policy is - CORRECT 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? -
CORRECT 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 - CORRECT ANSWER Talking
Which of the following is an annuity that is linked to a market-related index? -
CORRECT ANSWER Equity-indexed annuity
An insurer operating in the U.S. but headquartered outside the U.S. is - CORRECT
ANSWER an alien insurer
Group dental plans will frequently place a limit on annual benefits in order to
minimize - CORRECT ANSWER adverse selection
All of the following are considered to be fraud EXCEPT - CORRECT 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 - CORRECT 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 - CORRECT
ANSWER benefit schedule
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), a
terminated employee's benefits must - CORRECT ANSWER be the same and the
premium cannot exceed 102%
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? - CORRECT ANSWER 30
Ownership of a life insurance policy may be temporarily transferred with a(n) -
CORRECT ANSWER collateral assignment
Under a Traditional IRA, interest earned is taxed - CORRECT ANSWER upon
distribution
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