Louisiana Life Insurance Series 101 Study
Guide 1-25 UPDATED ACTUAL Exam
Questions and CORRECT Answers
STATEMENTS BY AN APPLICANT CONCERNING PERSONAL HEALTH HISTORY,
FAMILY HEALTH HISTORY, OCCUPATION, AND HOBBIES ARE REFERRED TO AS
A. depictions
B. certifications
C. representations.
D. personal characteristics. - CORRECT ANSWER -representations.
MORTALITY IS BASED ON A LARGE RISK POOL OF
A. income and time.
B. people and time.
C. geographic area and time.
D. family history and hobbies. - CORRECT ANSWER -people and time.
THE PURPOSE OF THE SPENDTHRIFT CLAUSE IN A LIFE INSURANCE POLICY IS TO
A. determine the order of death if the insured and beneficiary die in
the same accident.)
B. prevent creditors of a beneficiary from claiming any future death
benefits payable to the beneficiary.
C. allow the insured to directly pay death benefit proceeds to a
creditor.
D. establish the payout of death benefits if the primary beneficiary
dies before the contingent beneficiary. - CORRECT ANSWER -prevent creditors of a
beneficiary from claiming any future death benefits payable to the beneficiary.
, WHICH OF THE FOLLOWING IS A PROVISION IN AN INTEREST - SENSITIVE LIFE
POLICY WHICH ALLOWS THE POLICY OWNER TO WITHDRAW THE POLICY'S CASH
VALUE INTEREST FREE?
A. Partial surrender.
B. Automatic premium loan.
C. Waiver of premium.
D. Spendthrift clause - CORRECT ANSWER -Partial surrender.
PURCHASING INSURANCE IS AN EXAMPLE OF WHICH OF THE FOLLOWING
METHODS OF HANDLING RISK?
A. Retention
B. Avoidance
C. Acceptance
D. Transference - CORRECT ANSWER -Transference
THE COMMISSIONER OF INSURANCE MAY SUSPEND ANY INSURANCE
PRODUCER'S LICENSE FOR ALL OF THE FOLLOWING REASONS EXCEPT
A. soliciting insurance in adjoining states.
B. Violation of any insurance law of this state
C. obtaining the license through misrepresentation
D. materially misrepresenting the terms and conditions of any
insurance contract. - CORRECT ANSWER -soliciting insurance in adjoining states.
THE PRIMARY USE OF AN ANNUITY IS TO PROVIDE FUNDS FOR
A. education.
B. long - term care.
C. retirement.
D. burial - CORRECT ANSWER -retirement.
Guide 1-25 UPDATED ACTUAL Exam
Questions and CORRECT Answers
STATEMENTS BY AN APPLICANT CONCERNING PERSONAL HEALTH HISTORY,
FAMILY HEALTH HISTORY, OCCUPATION, AND HOBBIES ARE REFERRED TO AS
A. depictions
B. certifications
C. representations.
D. personal characteristics. - CORRECT ANSWER -representations.
MORTALITY IS BASED ON A LARGE RISK POOL OF
A. income and time.
B. people and time.
C. geographic area and time.
D. family history and hobbies. - CORRECT ANSWER -people and time.
THE PURPOSE OF THE SPENDTHRIFT CLAUSE IN A LIFE INSURANCE POLICY IS TO
A. determine the order of death if the insured and beneficiary die in
the same accident.)
B. prevent creditors of a beneficiary from claiming any future death
benefits payable to the beneficiary.
C. allow the insured to directly pay death benefit proceeds to a
creditor.
D. establish the payout of death benefits if the primary beneficiary
dies before the contingent beneficiary. - CORRECT ANSWER -prevent creditors of a
beneficiary from claiming any future death benefits payable to the beneficiary.
, WHICH OF THE FOLLOWING IS A PROVISION IN AN INTEREST - SENSITIVE LIFE
POLICY WHICH ALLOWS THE POLICY OWNER TO WITHDRAW THE POLICY'S CASH
VALUE INTEREST FREE?
A. Partial surrender.
B. Automatic premium loan.
C. Waiver of premium.
D. Spendthrift clause - CORRECT ANSWER -Partial surrender.
PURCHASING INSURANCE IS AN EXAMPLE OF WHICH OF THE FOLLOWING
METHODS OF HANDLING RISK?
A. Retention
B. Avoidance
C. Acceptance
D. Transference - CORRECT ANSWER -Transference
THE COMMISSIONER OF INSURANCE MAY SUSPEND ANY INSURANCE
PRODUCER'S LICENSE FOR ALL OF THE FOLLOWING REASONS EXCEPT
A. soliciting insurance in adjoining states.
B. Violation of any insurance law of this state
C. obtaining the license through misrepresentation
D. materially misrepresenting the terms and conditions of any
insurance contract. - CORRECT ANSWER -soliciting insurance in adjoining states.
THE PRIMARY USE OF AN ANNUITY IS TO PROVIDE FUNDS FOR
A. education.
B. long - term care.
C. retirement.
D. burial - CORRECT ANSWER -retirement.
