LA LIFE INSURANCE SERIES 101 EXAM SCRIPT
2026 COMPLETE QUESTIONS AND ANSWERS
GRADED A+
● Representations . Answer: Statements in the application for insurance
that are believed to be true to the best of the applicants knowledge are
● Provide the annuitant with an interest rate that is lesser of the
guaranteed or current rate . Answer: An annuity is considered fixed
when it does all of the following EXCEPT
● Continuous Premium (straight) life . Answer: The most common type
of whole life insurance where premiums are payable over the whole life
of the insured to age 100 is called.
● Entire contract . Answer: The policy and a copy of the application,
along with any riders and amendments, is called the
● Not taxable . Answer: Money borrowed from the policy's cash value is
, ● All annuities (Variable, Deferreed & Equity Indexed) . Answer: Which
of the following annuity products requires an agent to hold a securities
license?
● Life income annuity . Answer: Which type of annuity settlement stops
when the annuitant dies?
● 59 1/2 . Answer: At what age can a participant receive distributions
from a qualified plan without incurring a 10% penalty
● Buy-Sell Agreement . Answer: Two business partners own life
insurance on each other. If one partner dies, which of the following
contracts will allow the surviving partner to use the death benefit to
purchase the deceased's business interests?
● Adjustable life . Answer: Which type of policy allows the insured to
change the amount of the dwah benefit, the amount of premium, or the
type of coverage S their needs change?
● Either the cash value or the premiums paid, whichever is greater .
Answer: If an annuitant dies during the accumulation period, what will
the beneficiary receive?
● Nonadmitted . Answer: Any insurer who is NOT approved to do
business in this state is considered
2026 COMPLETE QUESTIONS AND ANSWERS
GRADED A+
● Representations . Answer: Statements in the application for insurance
that are believed to be true to the best of the applicants knowledge are
● Provide the annuitant with an interest rate that is lesser of the
guaranteed or current rate . Answer: An annuity is considered fixed
when it does all of the following EXCEPT
● Continuous Premium (straight) life . Answer: The most common type
of whole life insurance where premiums are payable over the whole life
of the insured to age 100 is called.
● Entire contract . Answer: The policy and a copy of the application,
along with any riders and amendments, is called the
● Not taxable . Answer: Money borrowed from the policy's cash value is
, ● All annuities (Variable, Deferreed & Equity Indexed) . Answer: Which
of the following annuity products requires an agent to hold a securities
license?
● Life income annuity . Answer: Which type of annuity settlement stops
when the annuitant dies?
● 59 1/2 . Answer: At what age can a participant receive distributions
from a qualified plan without incurring a 10% penalty
● Buy-Sell Agreement . Answer: Two business partners own life
insurance on each other. If one partner dies, which of the following
contracts will allow the surviving partner to use the death benefit to
purchase the deceased's business interests?
● Adjustable life . Answer: Which type of policy allows the insured to
change the amount of the dwah benefit, the amount of premium, or the
type of coverage S their needs change?
● Either the cash value or the premiums paid, whichever is greater .
Answer: If an annuitant dies during the accumulation period, what will
the beneficiary receive?
● Nonadmitted . Answer: Any insurer who is NOT approved to do
business in this state is considered
