LOUISIANA LIFE, ACCIDENT AND HEALT
g g g g
H PRACTICE EXAM 2024
g g gg g
Selectgfromgthegchoicesgbelowgthegbestgdescriptiongofgagspeculativegrisk?g-
gcorrectganswergInvolvinggthegpossibilitygofgaggaingingadditiongtogtheguncertaintygofgloss
IfgtheregisgagmaterialgchangegingangMECgcontract,gwhatgisgthegfirstgthinggneedinggtogbegdone?g-
gcorrectganswergAnotherg7gpaygtest
Whichgofgthegfollowinggisgnotgtaxable?g-gcorrectganswergFixedgamountginstallments
AgprematuregdistributiongfromgagRothgIRAgmadegbeforegthegageg59.5gisgsubjectgtogag10%gpenaltygtaxgu
nless:g-gcorrectganswergItgwasgusedgasgagdowngpaymentgongfirstghome
Carlosgcancelsghisglifegpolicygbutginstructsgtheginsurancegcompanygtogtransfergthegcashgvaluegofghisgpoli
cygtogangannuity.gThisgnongtaxablegtransactiongisgcalled?g-gcorrectganswerg1035gExchange
Whichgofgthegfollowinggisgagdisadvantagegtogsetupgandgparticipategingagqualifiedgretirementgplan?g-
gcorrectganswergImmediategliquidity
Allgofgthesegtypesgofgdistributionsgthatgaregexceptionsgtogtheg10%gpenaltygrulegexcept:g-
gcorrectganswergNewgcargpurchase
Whichgofgthegfollowinggdoesgnotgdescribegag401(K)gcharacteristicsg-
gcorrectganswergCurrentlyg$49,000gmaximumgcontribution
ThegfollowinggaregexamplesgofgQualifiedgRetirementgPlansgexcept:g-gcorrectganswerg501c(3)
WhichgofgthegfollowinggisgnotgcorrectgregardinggLonggTermgCareg-
gcorrectganswergItgprovidesgdifferentgbenefitsgforgdifferentglevelsgofgcare
,MedicaregSelectgisgagtypegof?g-gcorrectganswergMedicaregSupplementgplangofferedgbygangHMO
WhichgofgthegfollowinggstatementsgisgcorrectgregardinggMedicaregAdvantageg-
gcorrectganswergItgcangoffergbenefitsgthatgategnotgcoveredgbygregulargMedicare
WhichgofgthegfollowinggisgcorrectgwithgregardsgtogtheghospitalginsurancegPartgAgplangofgMedicareg-
gcorrectganswergInsuredgmustgsatisfygagdeductible
WhichgofgthegfollowinggstatementsgisgcorrectgaboutgPartgBgofgMedicareg-
gcorrectganswergAngannualgdeductiblegisgrequired
Allgofgthegfollowinggexamplesgofggroupsgthatgpurchaseggroupghealthginsurancegexcept:g-
gcorrectganswergMEWA
Thegfollowinggaregexamplegofglimitedghealthgplansgexcept:g-gcorrectganswergHMO
Allygwantsgagridergthatgwillgpaygdisabilitygthatgsocialgsecuritygwillgpaygforgonegyear,gassuminggthatgsocial
gsecuritygshouldgbegingthen.gWhatgtypegofgridergshouldgshegconsider?g-
gcorrectganswergAdditionalgmonthlygbenefitg(AMB)
HowgmanygQCsgaregnecessarygtogbegfullygfunded?g-gcorrectganswerg40
IfgBillghasgagtypegofgdisabilitygplangthatghasgbenefitsgsetgatgagpercentagegofgincome,gwhatgtypegisgit?g-
gcorrectganswergEmployergGroup
Allygwantsgtogmakegsuregthatghergbenefitsgforghergdisabilitygpolicygkeepgupgwithgthegrategofginflation,gw
hatgtypegofgridergshouldgshegconsiderg-gcorrectganswergCOLA
HowgmanygQCsgaregnecessarygtogbegdeemedgpartiallyginsuredg-gcorrectganswerg6gingtheglastg13
,IfgJillghasgagtypegofgdisabilitygplangthatghasgbenefitsgsetgatgagflatgamountgpergmonth,gwhatgtypegisgit?g-
gcorrectganswergIndividual
Thegperiodgbeforegbenefitsgbegingisgtermedgasgallgofgthegfollowinggexcept:g-gcorrectganswergPre-
benefitgperiod
WhichgofgthegfollowinggdoesgCoinsurancegdescribe?g-
gcorrectganswergagpercentagegtheginsuredgwillgpaygaftergthegdeductible
Ifgaghealthginsurergdoesgnotgpaygagclaimgmoregthanghowgmanygdaysgaftergrequiredgag1%gpergmonthgpe
naltygwillgbegin?g-gcorrectganswerg25gdays
Howgmanygdaysgaftergreceivinggnoticegofgagclaimgdoesganginsurerghavegtogfurnishgproofgofglossgforms?g-
gcorrectganswerg15
IfgMarthagwantsgtogpayghergdaughter'sgcollegegtuition,gwhichgofgthegfollowinggcangbegusedgasgangeduca
tiongannuity?g-gcorrectganswergAnnuitygCertain
Thegbestgdescriptiongofgaghazardgis?g-
gcorrectganswergConditiongthatgmaygincreasegthegchancegthatgaglossgmaygoccur
Choosegfromgthegfollowinggselectionsgthegbestgdescriptiongofgagpremium?g-
gcorrectganswergThegamountganginsuredgpaysgforgeachgunitgofgcoverage.g$7gforgeveryg$1,000gofgcovera
gegisgangexample.
WhichgofgthegfollowinggisgcorrectgaboutgagThird-PartygAdministrator?g-
gcorrectganswergItgisgangindependentgcompanygthatgprovidesgadministrativegservicesgforgcompany'sgself
-fundedgplans
Agnon-residentgproducergthatgisgmovinggfromgonegstategtoganothergstategmustgsubmit?g-
gcorrectganswergagstate-to-stategtransfergformgwithing30gdays
, Ifgagproducergchangesgtheirgmailing,gwork,gorghomegaddress,gthegDepartmentgmustgbegnotifiedg______
______ofgthegchangegongangofficialg"ChangegofgAddress"gformgavailablegongthegLAgDepartmentgofgInsur
ancegwebsite,gorgfacegagfine.g-gcorrectganswergwithing10gdays
AssuminggCEgrequirementsghavegbeengmet,ghowgisgtheglifegagent'sglicensegrenewed?g-
gcorrectganswergPaygthegrenewalgbillinggnoticegthegDeptgsendsgoutg90gdaysgbeforegthegrenewalgdate
Togrenewgagresidentgindividualgproducer'sglicense,gyougmustgcompleteg_______ghoursgofgcontinuingged
ucationgeachgrenewalgperiod.g-gcorrectganswerg24ghours
ThegCEgrequirementgdoesgnotgapplygtogspecialtygorglimitedglicenses,gsuchgas,gindustrialgfire,gcreditglife,g
creditghealth,gcreditgproperty,gorgaccidentalgdeathgandgdismemberment.g-gcorrectganswergFalse
Johngbecamegdisabledgandgcannotgconductghisginsurancegbusiness.gHisglegallygappointedgrepresentative
gmayggetgagtemporaryglicensegtoghandlegthegbusinessgforghimgforgagperiodgupgtog__________________
__.g-gcorrectganswerg180gdays
Ifgagproducer'sglicensegisgrevoked,gitgisgnotgpossiblegtogreapply.g-gcorrectganswergFalse
AgDistrictgCourtgJudgegfoundgJames,gagproducer,gguiltygofgagmisdemeanorgpettygtheft.gJamesgmustg-
gcorrectganswergReportgthegrulinggtogthegCommissionergwithing30gdays.
Togmaintaingyourglicense,geveryglicenseegmust:g-gcorrectganswergSelectgone:
a.gcompletegagcertaingnumbergofghoursgingcontinuinggeducation.
b.gmaintaingsatisfactorygconduct.
c.gsendgingthegrenewalgapplicationgandgpaygrenewalgfees.
d.gAllgofgthegabove
Ofgthegitemsglistedgbelow,gwhichgaregrequirementsgforgaglifeg&gdisabilityginsuranceganalystglicense?g-
gcorrectganswerga.gThegapplicantgmustghavegaggoodggeneralgreputation
b.gThegapplicantgmustgbegatgleastg18gyearsgofgage
c.gThegapplicantgmustghavegagthoroughgknowledgegofglifeg&gdisabilityginsurance
g g g g
H PRACTICE EXAM 2024
g g gg g
Selectgfromgthegchoicesgbelowgthegbestgdescriptiongofgagspeculativegrisk?g-
gcorrectganswergInvolvinggthegpossibilitygofgaggaingingadditiongtogtheguncertaintygofgloss
IfgtheregisgagmaterialgchangegingangMECgcontract,gwhatgisgthegfirstgthinggneedinggtogbegdone?g-
gcorrectganswergAnotherg7gpaygtest
Whichgofgthegfollowinggisgnotgtaxable?g-gcorrectganswergFixedgamountginstallments
AgprematuregdistributiongfromgagRothgIRAgmadegbeforegthegageg59.5gisgsubjectgtogag10%gpenaltygtaxgu
nless:g-gcorrectganswergItgwasgusedgasgagdowngpaymentgongfirstghome
Carlosgcancelsghisglifegpolicygbutginstructsgtheginsurancegcompanygtogtransfergthegcashgvaluegofghisgpoli
cygtogangannuity.gThisgnongtaxablegtransactiongisgcalled?g-gcorrectganswerg1035gExchange
Whichgofgthegfollowinggisgagdisadvantagegtogsetupgandgparticipategingagqualifiedgretirementgplan?g-
gcorrectganswergImmediategliquidity
Allgofgthesegtypesgofgdistributionsgthatgaregexceptionsgtogtheg10%gpenaltygrulegexcept:g-
gcorrectganswergNewgcargpurchase
Whichgofgthegfollowinggdoesgnotgdescribegag401(K)gcharacteristicsg-
gcorrectganswergCurrentlyg$49,000gmaximumgcontribution
ThegfollowinggaregexamplesgofgQualifiedgRetirementgPlansgexcept:g-gcorrectganswerg501c(3)
WhichgofgthegfollowinggisgnotgcorrectgregardinggLonggTermgCareg-
gcorrectganswergItgprovidesgdifferentgbenefitsgforgdifferentglevelsgofgcare
,MedicaregSelectgisgagtypegof?g-gcorrectganswergMedicaregSupplementgplangofferedgbygangHMO
WhichgofgthegfollowinggstatementsgisgcorrectgregardinggMedicaregAdvantageg-
gcorrectganswergItgcangoffergbenefitsgthatgategnotgcoveredgbygregulargMedicare
WhichgofgthegfollowinggisgcorrectgwithgregardsgtogtheghospitalginsurancegPartgAgplangofgMedicareg-
gcorrectganswergInsuredgmustgsatisfygagdeductible
WhichgofgthegfollowinggstatementsgisgcorrectgaboutgPartgBgofgMedicareg-
gcorrectganswergAngannualgdeductiblegisgrequired
Allgofgthegfollowinggexamplesgofggroupsgthatgpurchaseggroupghealthginsurancegexcept:g-
gcorrectganswergMEWA
Thegfollowinggaregexamplegofglimitedghealthgplansgexcept:g-gcorrectganswergHMO
Allygwantsgagridergthatgwillgpaygdisabilitygthatgsocialgsecuritygwillgpaygforgonegyear,gassuminggthatgsocial
gsecuritygshouldgbegingthen.gWhatgtypegofgridergshouldgshegconsider?g-
gcorrectganswergAdditionalgmonthlygbenefitg(AMB)
HowgmanygQCsgaregnecessarygtogbegfullygfunded?g-gcorrectganswerg40
IfgBillghasgagtypegofgdisabilitygplangthatghasgbenefitsgsetgatgagpercentagegofgincome,gwhatgtypegisgit?g-
gcorrectganswergEmployergGroup
Allygwantsgtogmakegsuregthatghergbenefitsgforghergdisabilitygpolicygkeepgupgwithgthegrategofginflation,gw
hatgtypegofgridergshouldgshegconsiderg-gcorrectganswergCOLA
HowgmanygQCsgaregnecessarygtogbegdeemedgpartiallyginsuredg-gcorrectganswerg6gingtheglastg13
,IfgJillghasgagtypegofgdisabilitygplangthatghasgbenefitsgsetgatgagflatgamountgpergmonth,gwhatgtypegisgit?g-
gcorrectganswergIndividual
Thegperiodgbeforegbenefitsgbegingisgtermedgasgallgofgthegfollowinggexcept:g-gcorrectganswergPre-
benefitgperiod
WhichgofgthegfollowinggdoesgCoinsurancegdescribe?g-
gcorrectganswergagpercentagegtheginsuredgwillgpaygaftergthegdeductible
Ifgaghealthginsurergdoesgnotgpaygagclaimgmoregthanghowgmanygdaysgaftergrequiredgag1%gpergmonthgpe
naltygwillgbegin?g-gcorrectganswerg25gdays
Howgmanygdaysgaftergreceivinggnoticegofgagclaimgdoesganginsurerghavegtogfurnishgproofgofglossgforms?g-
gcorrectganswerg15
IfgMarthagwantsgtogpayghergdaughter'sgcollegegtuition,gwhichgofgthegfollowinggcangbegusedgasgangeduca
tiongannuity?g-gcorrectganswergAnnuitygCertain
Thegbestgdescriptiongofgaghazardgis?g-
gcorrectganswergConditiongthatgmaygincreasegthegchancegthatgaglossgmaygoccur
Choosegfromgthegfollowinggselectionsgthegbestgdescriptiongofgagpremium?g-
gcorrectganswergThegamountganginsuredgpaysgforgeachgunitgofgcoverage.g$7gforgeveryg$1,000gofgcovera
gegisgangexample.
WhichgofgthegfollowinggisgcorrectgaboutgagThird-PartygAdministrator?g-
gcorrectganswergItgisgangindependentgcompanygthatgprovidesgadministrativegservicesgforgcompany'sgself
-fundedgplans
Agnon-residentgproducergthatgisgmovinggfromgonegstategtoganothergstategmustgsubmit?g-
gcorrectganswergagstate-to-stategtransfergformgwithing30gdays
, Ifgagproducergchangesgtheirgmailing,gwork,gorghomegaddress,gthegDepartmentgmustgbegnotifiedg______
______ofgthegchangegongangofficialg"ChangegofgAddress"gformgavailablegongthegLAgDepartmentgofgInsur
ancegwebsite,gorgfacegagfine.g-gcorrectganswergwithing10gdays
AssuminggCEgrequirementsghavegbeengmet,ghowgisgtheglifegagent'sglicensegrenewed?g-
gcorrectganswergPaygthegrenewalgbillinggnoticegthegDeptgsendsgoutg90gdaysgbeforegthegrenewalgdate
Togrenewgagresidentgindividualgproducer'sglicense,gyougmustgcompleteg_______ghoursgofgcontinuingged
ucationgeachgrenewalgperiod.g-gcorrectganswerg24ghours
ThegCEgrequirementgdoesgnotgapplygtogspecialtygorglimitedglicenses,gsuchgas,gindustrialgfire,gcreditglife,g
creditghealth,gcreditgproperty,gorgaccidentalgdeathgandgdismemberment.g-gcorrectganswergFalse
Johngbecamegdisabledgandgcannotgconductghisginsurancegbusiness.gHisglegallygappointedgrepresentative
gmayggetgagtemporaryglicensegtoghandlegthegbusinessgforghimgforgagperiodgupgtog__________________
__.g-gcorrectganswerg180gdays
Ifgagproducer'sglicensegisgrevoked,gitgisgnotgpossiblegtogreapply.g-gcorrectganswergFalse
AgDistrictgCourtgJudgegfoundgJames,gagproducer,gguiltygofgagmisdemeanorgpettygtheft.gJamesgmustg-
gcorrectganswergReportgthegrulinggtogthegCommissionergwithing30gdays.
Togmaintaingyourglicense,geveryglicenseegmust:g-gcorrectganswergSelectgone:
a.gcompletegagcertaingnumbergofghoursgingcontinuinggeducation.
b.gmaintaingsatisfactorygconduct.
c.gsendgingthegrenewalgapplicationgandgpaygrenewalgfees.
d.gAllgofgthegabove
Ofgthegitemsglistedgbelow,gwhichgaregrequirementsgforgaglifeg&gdisabilityginsuranceganalystglicense?g-
gcorrectganswerga.gThegapplicantgmustghavegaggoodggeneralgreputation
b.gThegapplicantgmustgbegatgleastg18gyearsgofgage
c.gThegapplicantgmustghavegagthoroughgknowledgegofglifeg&gdisabilityginsurance
