Louisiana Life Insurance Final Exam
questions with verified answers graded
A+
A chronically ill insured who needs to sell his life insurance policy to a third-party to settle
medical and other bills prior to death - correct answer ✔✔A viatical transaction is used for
which of the following
He has made an offer to the insurance company and no insurance is in effect until all
requirements for underwriting his policy or receipt in the policy is approved - correct answer
✔✔An agent complete an application for insurance on the Addams family Mr. Adams writes a
check for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr.
Adams should understand which of the following
Has no requirements for a proof of insurability at renewal and a maximum age . - correct answer
✔✔The annual renewable term term ART
Adverse selection - correct answer ✔✔Insurance uses a pre-existing condition clause to prevent
Personal delivery by an agent mailing the policy to the policy owner giving the policy to an
agent of the policy owner - correct answer ✔✔Which of the following is an effective and legal
way to deliver a policy
The older the insured gets the more frequent the purchase option dates - correct answer
✔✔Which of the following statements is not true about the guaranteed insurability riderGIR?
A joint life plan which will provide a survivor money to buy out the deceased partners heirs. -
correct answer ✔✔What plan would likely meet the needs of two partners who want to create
a buy sell agreement and an inexpensive and simple funding plan?
, Morbidity is a fact to use in determining health insurance premiums not life insurance the
correct answer is mobility - correct answer ✔✔Which of the following is not a factor in
determining the amount of life insurance policy dividend
Pay legal fees - correct answer ✔✔Which of the following is not a common use for annuities
Non-forfeiture Provision - correct answer ✔✔What guarantees states that if the policyholder
discontinues payment of premiums the policyholder can have access to the cash value of the
policy policy
SEP is available to small employers contributions made two employees are deductible up to 25%
SEP - correct answer ✔✔A qualified retirement plan that blends in our way with a profit sharing
plan and I lost the employer to deduct up to 25% of contributions made to all employeees It's
called a
The premiums are waived during the period of the disability there is usually a waiting period for
the benefit to kick in there is an additional premium charge for this coverage all of the above -
correct answer ✔✔Which of the following is true about the waiver of premium rider on an
insurance policy
A family term Rider - correct answer ✔✔And example of coverage that can be purchased by a
husband for his wife along with other dependent family members is
The writer gives the Company the Right to borrow against the policies cash value - correct
answer ✔✔Which of the following is true about the automatic premium lone Rider APL
Higher interest earnings - correct answer ✔✔Which of the following is a common element We
need a curse that allows an insured to charge lower premiums
questions with verified answers graded
A+
A chronically ill insured who needs to sell his life insurance policy to a third-party to settle
medical and other bills prior to death - correct answer ✔✔A viatical transaction is used for
which of the following
He has made an offer to the insurance company and no insurance is in effect until all
requirements for underwriting his policy or receipt in the policy is approved - correct answer
✔✔An agent complete an application for insurance on the Addams family Mr. Adams writes a
check for the initial premium and the agent provides Mr. Adams with a conditional receipt Mr.
Adams should understand which of the following
Has no requirements for a proof of insurability at renewal and a maximum age . - correct answer
✔✔The annual renewable term term ART
Adverse selection - correct answer ✔✔Insurance uses a pre-existing condition clause to prevent
Personal delivery by an agent mailing the policy to the policy owner giving the policy to an
agent of the policy owner - correct answer ✔✔Which of the following is an effective and legal
way to deliver a policy
The older the insured gets the more frequent the purchase option dates - correct answer
✔✔Which of the following statements is not true about the guaranteed insurability riderGIR?
A joint life plan which will provide a survivor money to buy out the deceased partners heirs. -
correct answer ✔✔What plan would likely meet the needs of two partners who want to create
a buy sell agreement and an inexpensive and simple funding plan?
, Morbidity is a fact to use in determining health insurance premiums not life insurance the
correct answer is mobility - correct answer ✔✔Which of the following is not a factor in
determining the amount of life insurance policy dividend
Pay legal fees - correct answer ✔✔Which of the following is not a common use for annuities
Non-forfeiture Provision - correct answer ✔✔What guarantees states that if the policyholder
discontinues payment of premiums the policyholder can have access to the cash value of the
policy policy
SEP is available to small employers contributions made two employees are deductible up to 25%
SEP - correct answer ✔✔A qualified retirement plan that blends in our way with a profit sharing
plan and I lost the employer to deduct up to 25% of contributions made to all employeees It's
called a
The premiums are waived during the period of the disability there is usually a waiting period for
the benefit to kick in there is an additional premium charge for this coverage all of the above -
correct answer ✔✔Which of the following is true about the waiver of premium rider on an
insurance policy
A family term Rider - correct answer ✔✔And example of coverage that can be purchased by a
husband for his wife along with other dependent family members is
The writer gives the Company the Right to borrow against the policies cash value - correct
answer ✔✔Which of the following is true about the automatic premium lone Rider APL
Higher interest earnings - correct answer ✔✔Which of the following is a common element We
need a curse that allows an insured to charge lower premiums
