Final Exam - Louisiana Life and Health
Study online at https://quizlet.com/_5aqwu2
1. When are group disability benefits considered to be When the recipient pays
tax-free to the insured? the premiums
2. An insurable interest in each other's lives may exist in Marriage partners
absence of an economic interest when the individuals
are
3. What is the elimination period of an individual disabil- Time period a disabled
ity policy? person must wait before
benefits are paid
4. What happens to interest earned if the annuitant dies It is taxable
before the payout start date?
5. In which of the following situations would the insurer The insured suffered an
be liable for a loss? injury as an innocent by-
stander during a bank
robbery
6. In what form do disability income policies typically pay Periodic income
benefits?
7. Which of the following is typically NOT eligible for Temporary employee
coverage in a group health policy?
8. Which of the following would be considered a possible Employer
applicant and contract policyholder for group health
benefits?
9. A Medicare Supplement Policy is designed to fill in the
gaps of Part A and Part B
Medicare
10.
, Final Exam - Louisiana Life and Health
Study online at https://quizlet.com/_5aqwu2
Under a Modified Endowment Contract, what are the Pre-death distributions
likely tax consequences? will become taxable
11. In a Long-Term Care policy, activities of daily living Talking
(ADL's) can be each of the following EXCEPT
12. Which of the following is an annuity that is linked to a Equity-indexed annuity
market-related index?
13. An insurer operating in the U.S. but headquartered an alien insurer
outside the U.S. is
14. Group dental plans will frequently place a limit on adverse selection
annual benefits in order to minimize
15. All of the following are considered to be fraud EXCEPT collecting a charge for in-
surance that is less than
the charge applicable to
that insurance
16. A producer's license in Louisiana must be renewed Two years
every
17. An insured has a health plan that pays established benefit schedule
amounts in accordance with a list of injuries, surgical
procedures, or other losses. This list is called a
18. Under the Consolidated Omnibus Budget Reconcili- be the same and the
ation Act (COBRA), a terminated employee's benefits premium cannot exceed
must 102%
19. If a producer has been engaged in an administrative 30
action by any governmental agency, within how many
, Final Exam - Louisiana Life and Health
Study online at https://quizlet.com/_5aqwu2
days following the final deposition must the producer
report the action to the Commissioner?
20. Ownership of a life insurance policy may be temporar- collateral assignment
ily transferred with a(n)
21. Under a Traditional IRA, interest earned is taxed upon distribution
22. When a Medicare Supplement insurance policy is be- The producer and the ap-
ing replaced, who must sign the notice of replace- plicant
ment?
23. In Louisiana, regulation for variable insurance con- State attorney general's of-
tracts are set by all of the following EXCEPT: fice
24. Which of these factors help determine an insured's life avocation (hobby)
insurance premium?
25. In general practice, which statement is true of the Records must be pro-
powers of the Commissioner of Insurance with re- duced upon the request of
spect to access to a producer's business records? the Commissioner to the
producer
26. What is an insurer required to do when faced with an Pay age-corrected bene-
error made under the Misstatement of Age provision? fits
27. Backdating of life insurance policy applications is al- 6 months from the time
lowed if the policies are not backdated earlier than the policy was applied for
28. The life insurance and annuity replacement regulation exchanging an existing
defines replacement as policy for a new policy
29. An example of a presumptive disability would be deafness
Study online at https://quizlet.com/_5aqwu2
1. When are group disability benefits considered to be When the recipient pays
tax-free to the insured? the premiums
2. An insurable interest in each other's lives may exist in Marriage partners
absence of an economic interest when the individuals
are
3. What is the elimination period of an individual disabil- Time period a disabled
ity policy? person must wait before
benefits are paid
4. What happens to interest earned if the annuitant dies It is taxable
before the payout start date?
5. In which of the following situations would the insurer The insured suffered an
be liable for a loss? injury as an innocent by-
stander during a bank
robbery
6. In what form do disability income policies typically pay Periodic income
benefits?
7. Which of the following is typically NOT eligible for Temporary employee
coverage in a group health policy?
8. Which of the following would be considered a possible Employer
applicant and contract policyholder for group health
benefits?
9. A Medicare Supplement Policy is designed to fill in the
gaps of Part A and Part B
Medicare
10.
, Final Exam - Louisiana Life and Health
Study online at https://quizlet.com/_5aqwu2
Under a Modified Endowment Contract, what are the Pre-death distributions
likely tax consequences? will become taxable
11. In a Long-Term Care policy, activities of daily living Talking
(ADL's) can be each of the following EXCEPT
12. Which of the following is an annuity that is linked to a Equity-indexed annuity
market-related index?
13. An insurer operating in the U.S. but headquartered an alien insurer
outside the U.S. is
14. Group dental plans will frequently place a limit on adverse selection
annual benefits in order to minimize
15. All of the following are considered to be fraud EXCEPT collecting a charge for in-
surance that is less than
the charge applicable to
that insurance
16. A producer's license in Louisiana must be renewed Two years
every
17. An insured has a health plan that pays established benefit schedule
amounts in accordance with a list of injuries, surgical
procedures, or other losses. This list is called a
18. Under the Consolidated Omnibus Budget Reconcili- be the same and the
ation Act (COBRA), a terminated employee's benefits premium cannot exceed
must 102%
19. If a producer has been engaged in an administrative 30
action by any governmental agency, within how many
, Final Exam - Louisiana Life and Health
Study online at https://quizlet.com/_5aqwu2
days following the final deposition must the producer
report the action to the Commissioner?
20. Ownership of a life insurance policy may be temporar- collateral assignment
ily transferred with a(n)
21. Under a Traditional IRA, interest earned is taxed upon distribution
22. When a Medicare Supplement insurance policy is be- The producer and the ap-
ing replaced, who must sign the notice of replace- plicant
ment?
23. In Louisiana, regulation for variable insurance con- State attorney general's of-
tracts are set by all of the following EXCEPT: fice
24. Which of these factors help determine an insured's life avocation (hobby)
insurance premium?
25. In general practice, which statement is true of the Records must be pro-
powers of the Commissioner of Insurance with re- duced upon the request of
spect to access to a producer's business records? the Commissioner to the
producer
26. What is an insurer required to do when faced with an Pay age-corrected bene-
error made under the Misstatement of Age provision? fits
27. Backdating of life insurance policy applications is al- 6 months from the time
lowed if the policies are not backdated earlier than the policy was applied for
28. The life insurance and annuity replacement regulation exchanging an existing
defines replacement as policy for a new policy
29. An example of a presumptive disability would be deafness
