LA SERIES 103 EXAM QUESTIONS WITH ALL
CORRECT ANSWERS 2026 ACTUAL PAPER
COMPLETE SOLUTIONS VERIFIED STUDY
GUIDE GRADED A+
⩥ defined contribution plan.
Answer: focuses on contributions rather than on the benefits they will
pay out
⩥ tax deductible.
Answer: a qualified expense that may reduce the amount of income
subject to taxation
⩥ Attained Age.
Answer: the insured's age at the time the policy is issued or renewed
⩥ Benefit Period.
Answer: a period of time during which benefits are paid under the policy
⩥ cost sharing.
Answer: sharing of expenses between the insured and the insurance
company through deductibles, copays and coinsurance
,⩥ Enrollee.
Answer: a person enrolled in a health insurance plan, an insured (doesn't
include dependents of the insured)
⩥ HMO.
Answer: Health maintenance organization. A prepaid health insurance
plan in which patients receive health care from designated providers
⩥ nonforfeiture benefits.
Answer: a cash or insurance benefit received by a policyholder who no
longer wishes to make payments after making premium payments for at
least the minimum period
⩥ Medicare.
Answer: federal government plan for paying certain hospital and
medical expenses for persons who qualify
available to anyone regardless of age
⩥ Part A: (Hospital Insurance).
Answer: financed through a portion of the payroll tax (FICA)
,*impatient hospital care
*skilled nursing facility care
*home health care
*hospice care
⩥ Part B: (medical insurance).
Answer: is financed from monthly premiums paid by insureds and from
the general revenues of the federal government
*doctor services
*outpatient hospital services
*home health visits
*other medical and health services
⩥ Part C: (medicare advantage).
Answer: allows people to receive all of their health care services through
available provider organizations
⩥ Part D: (prescription Drugs).
Answer: for prescription drug coverage
⩥ Deductible.
, Answer: The portion of the loss that is to be paid by the insured before
any claim benefits may be paid by the insurer.
⩥ Medicaid.
Answer: a. medical benefits program jointly administrated by the
individual states and the federal government
⩥ long-term care insurance.
Answer: provide coverage for at least 12 months in a setting other than
an acute care unit of a hospital
⩥ advertising.
Answer: the insurance company must retain all advertisements for at
least 3 years from the date that the advertisement was first used
⩥ skilled care.
Answer: daily nursing and rehabilitative care provided by medical
personnel
⩥ home health care.
Answer: provided by RN, licensed practical nurses, or hospice
⩥ respite care.
CORRECT ANSWERS 2026 ACTUAL PAPER
COMPLETE SOLUTIONS VERIFIED STUDY
GUIDE GRADED A+
⩥ defined contribution plan.
Answer: focuses on contributions rather than on the benefits they will
pay out
⩥ tax deductible.
Answer: a qualified expense that may reduce the amount of income
subject to taxation
⩥ Attained Age.
Answer: the insured's age at the time the policy is issued or renewed
⩥ Benefit Period.
Answer: a period of time during which benefits are paid under the policy
⩥ cost sharing.
Answer: sharing of expenses between the insured and the insurance
company through deductibles, copays and coinsurance
,⩥ Enrollee.
Answer: a person enrolled in a health insurance plan, an insured (doesn't
include dependents of the insured)
⩥ HMO.
Answer: Health maintenance organization. A prepaid health insurance
plan in which patients receive health care from designated providers
⩥ nonforfeiture benefits.
Answer: a cash or insurance benefit received by a policyholder who no
longer wishes to make payments after making premium payments for at
least the minimum period
⩥ Medicare.
Answer: federal government plan for paying certain hospital and
medical expenses for persons who qualify
available to anyone regardless of age
⩥ Part A: (Hospital Insurance).
Answer: financed through a portion of the payroll tax (FICA)
,*impatient hospital care
*skilled nursing facility care
*home health care
*hospice care
⩥ Part B: (medical insurance).
Answer: is financed from monthly premiums paid by insureds and from
the general revenues of the federal government
*doctor services
*outpatient hospital services
*home health visits
*other medical and health services
⩥ Part C: (medicare advantage).
Answer: allows people to receive all of their health care services through
available provider organizations
⩥ Part D: (prescription Drugs).
Answer: for prescription drug coverage
⩥ Deductible.
, Answer: The portion of the loss that is to be paid by the insured before
any claim benefits may be paid by the insurer.
⩥ Medicaid.
Answer: a. medical benefits program jointly administrated by the
individual states and the federal government
⩥ long-term care insurance.
Answer: provide coverage for at least 12 months in a setting other than
an acute care unit of a hospital
⩥ advertising.
Answer: the insurance company must retain all advertisements for at
least 3 years from the date that the advertisement was first used
⩥ skilled care.
Answer: daily nursing and rehabilitative care provided by medical
personnel
⩥ home health care.
Answer: provided by RN, licensed practical nurses, or hospice
⩥ respite care.
