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LA Life Insurance Series 101 _ (SHOPIFY FUNDAMENTALS) QUESTIONS WITH 100- CORRECT
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LA Life Insurance Series 101 _ (SHOPIFY FUNDAMENTALS) QUESTIONS WITH 100- CORRECT
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8/30/24, 7:24 PMLA Life Insurance Series 101
Jeremiah
Terms in this set (108)
Which type of rider pays out a capital sum in Accidental Death and Dismemberment
case an insured loses a limb or their
eyesight?
If a policyowner of a convertible term life The term policy will be replaced by a permanent life insurance policy
insurance policy exercises his/her right to
convert, which of the following will happen?
Which of the following is NOT a purpose of Regulate the replacement of Insurance by the consumer
the rule regarding replacement of Life
Insurance?
Which of the following is NOT an example of Backdating
a prohibited practice?
When demanded, Hearing are held: Within 30 days after the date a hearing is demanded
Which of the following is not a standard or Guaranteed elements must be labeled as such, but non-guaranteed elements need not
requirement for an illustration? to be labeled
Which of the following statements is NOT In lieu of fines, the Commissioner may have a producer imprisoned for up to one year.
correct?
How many credit hours of continuing 24 ( with at 3 hours in ethics)
education must a producer complete every
renewal period?
Which of the following statements is FALSE A person may not Opt-Out of HIV testing
with respect to HIV testing?
With regard to examinations, Which of the The expense of examination of an insurer or of any person is paid by the Department
following statements is NOT correct?
Which of the following CORRECTLY Misleading and convincing an insured to surrender, lapse, or exchange an existing
describes the practice of Twisting? policy for a different one, to the insured's detriment.
Which of the following statements is TRUE An agent who will be transacting business in Louisiana under an assumed name must
with respect to assumed names? notify the Commissioner prior to using the assumed name.
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, 8/30/24, 7:24 PM
Which of the following statements is FALSE Accelerated benefits effective for illness immediately upon the effective date.
regarding requirements for accelerated
benefits?
An initial privacy notice is NOT required to A prospective customer
be provided to:
When do individual producer licenses April 30th of each even-numbered year.
expire?
Which of the following statements is TRUE Accelerated benefits must provide for a lump sum benefit option.
regarding accelerated benefits?
With regard to examinations by the Must conduct a financial examination of an insurer at least once every 5 years.
Commissioner, the Commissioner:
Which of the following statements is true A supplemental illustration must be accompanied by or preceded by a basic
with respect to supplemental illustrations? illustration.
For those individuals who have health issues, Group
Which of the following would be an
insurance plan to consider?
When must licensees provide privacy Annually
notices to individual customers?
The investor must do all of the following in a Fill out the application for Life Insurance on behalf of the Insured.
STOLI/IOLI transaction, EXCEPT:
Which of the following best describes a It verifies that the insured has not suffered a serious illness or injury requiring surgery or
statement of Good Health? hospitalization since the application date.
Which of the following is FALSE concerning An agent must be licensed as a Life agent in order to sell a registered Variable contract.
licensing for the Variable products?
B was 42 when the Life Insurance policy was Original
issued. 42 is referred to as the_______ age of
the policy.
Which of the following would be considered Issued Standard
a good result from an underwriter's action
when an individual Life Insurance policy is
issued as applied for?
All of the following are TRUE regarding Life An insurer may use the name of it's parent company in advertisements.
Insurance advertising, EXCEPT:
Which of the following is INCORRECT with An insurer may pay a commission to an unlicensed producer who is appointed by the
regard to commissions and compensation? insurer.
If it is known or should be known by the Notice of Replacement
agent that an existing policy is going to be
lapsed, forfeited, surrendered or terminated
in favor of a new policy, the agent must
submit a :
In order for an insurance company to The Application
determine if it will issue a policy, What
document must always be submitted for
review?
Which of the following are TRUE regarding Replacement requirements do not apply to the existing insurer.
the duties of insurers?
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