LA LIFE INSURANCE SERIES 101 EXAM (ACTUAL 2026/2027
108 QUESTIONS WITH 100% VERIFIED CORRECT
SOLUTIONS
Which type of rider pays out a capital sum in case an insured loses a limb or
their eyesight?
Accidental Death and Dismemberment
If a policyowner of a convertible term life insurance policy exercises his/her
right to convert, which of the following will happen?
The term policy will be replaced by a permanent life insurance policy
Which of the following is NOT a purpose of the rule regarding replacement of
Life Insurance?
Regulate the replacement of Insurance by the consumer
B's policy had a 1000 annual premium. B has not paid it for 2 years and wants
to put the policy back in force. The insurer charges 10% interest on overdue
premiums. How much will B have to pay to have coverage once again?
2200.00
Ordinarily, who would not be the owner of a Juvenile policy from the outset?
A brother or sister
,When the Life Insurance Policy's cash value equals the face amount of the
policy and the proceeds are paid to the policyowner, this is known as the
policy's .
Endowment
What is the only way an Annuity can pay out income tax free benefit payments?
Fund a Roth IRA and make a qualified distribution.
What is the " waiver of premium" called on a Universal Life Insurance policy?
Waiver of Cost of Insurance
Which of the following Term Life insurance policies cannot be renewed?
Decreasing
Most often, life policies pay death claims in a single lump sum. The options that
allow benefits to be paid other than lump sum are called .
Settlement Options
We have an expert-written solution to this problem!
Should an insured become totally and permanently disabled two months before
the cut-off date for the waiver of premium rider:
The Insured remains eligible for all provisions.
, First to die and last to die Life Insurance policies have in common all of the
following, EXCEPT:
They both continue in force after one of the named insureds dies.
Under Social Security, a worker needs 10 years of work to be considered
insured?
Fully
A married couple purchases a 250,000.00 Joint Life policy. When the older of
the two dies, What is the amount payable to the survivor?
250,000.00
With a Life Income Payment Option, what happens at the annuitant's death?
All Payments cease
Which of the following is the most expensive premium mode overall?
Monthly
What is the primary purpose of the reinstatement provision?
To put a policy back in force as if it had never lapsed.
108 QUESTIONS WITH 100% VERIFIED CORRECT
SOLUTIONS
Which type of rider pays out a capital sum in case an insured loses a limb or
their eyesight?
Accidental Death and Dismemberment
If a policyowner of a convertible term life insurance policy exercises his/her
right to convert, which of the following will happen?
The term policy will be replaced by a permanent life insurance policy
Which of the following is NOT a purpose of the rule regarding replacement of
Life Insurance?
Regulate the replacement of Insurance by the consumer
B's policy had a 1000 annual premium. B has not paid it for 2 years and wants
to put the policy back in force. The insurer charges 10% interest on overdue
premiums. How much will B have to pay to have coverage once again?
2200.00
Ordinarily, who would not be the owner of a Juvenile policy from the outset?
A brother or sister
,When the Life Insurance Policy's cash value equals the face amount of the
policy and the proceeds are paid to the policyowner, this is known as the
policy's .
Endowment
What is the only way an Annuity can pay out income tax free benefit payments?
Fund a Roth IRA and make a qualified distribution.
What is the " waiver of premium" called on a Universal Life Insurance policy?
Waiver of Cost of Insurance
Which of the following Term Life insurance policies cannot be renewed?
Decreasing
Most often, life policies pay death claims in a single lump sum. The options that
allow benefits to be paid other than lump sum are called .
Settlement Options
We have an expert-written solution to this problem!
Should an insured become totally and permanently disabled two months before
the cut-off date for the waiver of premium rider:
The Insured remains eligible for all provisions.
, First to die and last to die Life Insurance policies have in common all of the
following, EXCEPT:
They both continue in force after one of the named insureds dies.
Under Social Security, a worker needs 10 years of work to be considered
insured?
Fully
A married couple purchases a 250,000.00 Joint Life policy. When the older of
the two dies, What is the amount payable to the survivor?
250,000.00
With a Life Income Payment Option, what happens at the annuitant's death?
All Payments cease
Which of the following is the most expensive premium mode overall?
Monthly
What is the primary purpose of the reinstatement provision?
To put a policy back in force as if it had never lapsed.
