Louisiana Life and Health Insurance COMPREHENSIVE
TEST BANK REVIEW FINAL EXAM 2026-2027
\LATEST UPDATE WITH COMPLETE 200
QUESTIONS AND CORRECT DETAILED
ANSWERS\VERIFIED 100% ALREADY GRADED
A+
An individual purchased a Medicare supplement policy in March and
decided to replace it 2 months later. His history of coronary artery
disease is considered a pre-existing condition. Which of the
following is true?
a. Coronary artery disease coverage will be permanently excluded
from the new policy
b. In replacement, pre-existing conditions must be waived, so
sickness relating to coronary artery disease will be covered
upon the policy's effective date
c. Because this is a new policy, the pre-existing condition waiting
period starts over
d. The pre-existing condition waiting period is fulfilled in the old
policy will be transferred to the new policy, the new one picking
up where the old one left off
D
, All of the following are penalties for violating the statutes
pertaining to sharing commissions EXCEPT
a. Additional continuing education in ethics
b. Fine up to $5,000
c. imprisonment for up to 2 years
d. License revocation
C.
All of the following statements about equity index annuities are
correct EXCEPT
a. They invest on a more aggressive basis aiming for higher
returns
b. The annuitant receives a fixed amount of return
c. They have a guaranteed minimum interest rate
d. The interest rate is tied to an index such as the Standard &
Poor's 500
b
Which of the following would not be a violation of Louisiana
insurance regulations?
a. Producer D collects premiums due on policies and deposits
the funds in his own personal account
b. Producer A uses er license to write only insurance for
herself and her immediate family
c. Producer B changes his clients, in addition to the
premium, a consulting fee
d. Producer C uses her license to write uncontrolled business
d
, The policy owner wants to make sure that upon his death, the life
policy will pay a portion of the proceeds annually to his spouse,
but that the principal will be paid to their children when they
reach a certain age. What settlement option should the policy
owner choose?
interest only option
Which of the following policies would have an IRS required corridor
or gap between the cash value and the death benefit?
a. Universal Life - Option A
b. Universal Life - Option B
c. Equity Indexed Universal Life
d. Variable Universal Life
A
How long must an insurer keep the receipt of policy delivery to the
policyowner if the delivery was by mail?
2 years
TEST BANK REVIEW FINAL EXAM 2026-2027
\LATEST UPDATE WITH COMPLETE 200
QUESTIONS AND CORRECT DETAILED
ANSWERS\VERIFIED 100% ALREADY GRADED
A+
An individual purchased a Medicare supplement policy in March and
decided to replace it 2 months later. His history of coronary artery
disease is considered a pre-existing condition. Which of the
following is true?
a. Coronary artery disease coverage will be permanently excluded
from the new policy
b. In replacement, pre-existing conditions must be waived, so
sickness relating to coronary artery disease will be covered
upon the policy's effective date
c. Because this is a new policy, the pre-existing condition waiting
period starts over
d. The pre-existing condition waiting period is fulfilled in the old
policy will be transferred to the new policy, the new one picking
up where the old one left off
D
, All of the following are penalties for violating the statutes
pertaining to sharing commissions EXCEPT
a. Additional continuing education in ethics
b. Fine up to $5,000
c. imprisonment for up to 2 years
d. License revocation
C.
All of the following statements about equity index annuities are
correct EXCEPT
a. They invest on a more aggressive basis aiming for higher
returns
b. The annuitant receives a fixed amount of return
c. They have a guaranteed minimum interest rate
d. The interest rate is tied to an index such as the Standard &
Poor's 500
b
Which of the following would not be a violation of Louisiana
insurance regulations?
a. Producer D collects premiums due on policies and deposits
the funds in his own personal account
b. Producer A uses er license to write only insurance for
herself and her immediate family
c. Producer B changes his clients, in addition to the
premium, a consulting fee
d. Producer C uses her license to write uncontrolled business
d
, The policy owner wants to make sure that upon his death, the life
policy will pay a portion of the proceeds annually to his spouse,
but that the principal will be paid to their children when they
reach a certain age. What settlement option should the policy
owner choose?
interest only option
Which of the following policies would have an IRS required corridor
or gap between the cash value and the death benefit?
a. Universal Life - Option A
b. Universal Life - Option B
c. Equity Indexed Universal Life
d. Variable Universal Life
A
How long must an insurer keep the receipt of policy delivery to the
policyowner if the delivery was by mail?
2 years
