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XCEL FINAL STUDY LOUISIANA LHA INSURANCE 2024 QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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XCEL FINAL STUDY LOUISIANA LHA INSURANCE 2024 QUESTIONS & ANSWERS SOLVED 100% CORRECT!!
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Name: Score:149 Multiple choice questions
Term 1 of 149
How is the cost of a policy affected when a policyowner pays premiums more frequently?
increases
stays the same
depends on the type of coverage
decreases
Definition 2 of 149
A health insurance plan for individuals who have been denied coverage elsewhere
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?
A limited payment whole life policy provides
The Louisiana Health Plan is best described as
Under the Fair Credit Reporting Act, which statement is true?
Term 3 of 149
When a company is licensed by the Department of Insurance to do business in this state, it
becomes
Cancelable
Master policy
An authorized company
Equity-indexed annuity
,Definition 4 of 149
rebate
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)
Shirley has a Medigap policy, which is designed to pay costs associated with
In order to qualify for a company convention, an insurance producer agrees to pay the first
quarterly premium for the applicant for new insurance. This is called a
A payment system for health care in which the provider is paid for each service given is
called
Term 5 of 149
What is the minimum number of employees needed for a small employer medical expense plan in
Louisiana?
rider
15
Physical therapy
1
Definition 6 of 149
lifetime protection
Equal the face amount of the policy
All of these are valid policy dividend options for a life insurance policyowner EXCEPT
A limited payment whole life policy provides
Kate has a Major Medical Plan with a 75/25 coinsurance and a deductible of $25. How much
will she have to pay if she, not having met any of her deductible, visits the doctor and
receives a bill for $125?
,Term 7 of 149
What is considered to be the primary reason for buying life insurance?
Duplicate medicare benefits
Provide money for college
Death benefit
Provide death benefits
Term 8 of 149
Every licensee must notify the Louisiana Insurance Commissioner of personal or business changes
within:
30 days
45 days
31 days
2 years
Definition 9 of 149
employee
Group health plans may deny participation based upon the
In small group accident and health plans, a late enrollee is an individual who
Under group health insurance, a certificate of coverage is issued to the
In group health care, what is the purpose of the coordination of benefits provision?
, Term 10 of 149
What is the primary factor that determines the benefits paid under a disability income policy?
office rent
wages
rebate
salary
Term 11 of 149
Health insurance involves two perils, accident and ____.
injury
disability
hospitalization
sickness
Term 12 of 149
A Roth IRA owner must be at least what age in order to make tax-free withdrawals?
59 1/2 and owned account for a minimum of 5 years
45 years old and owned account for a minimum of 2 years
60 years old and owned account for a minimum of 3 years
50 years old and owned account for a minimum of 10 years
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