LA Series 103 Exam COMPREHENSIVE TEST BANK REVIEW
FINAL EXAM 2026-2027 \LATEST UPDATE WITH COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS\VERIFIED
100% ALREADY GRADED A+
A health insurance policy will typically cover
ANSWERS: preventative health services
A licensed producer MUST be _____ by an insurer to be eligible for
soliciting insurance contracts
ANSWERS: appointed
A life insurance claim which involves a per capita distribution of
policy proceeds would be payable to the
ANSWERS: named living primary beneficiaries
A life insurance company has transferred some of its risk to another
insurer.
The insurer assuming the risk is called the
ANSWERS: reinsurer
,A life insurance policy normally contains a provision that restricts
coverage in the event of death under all of the following
situations EXCEPT
ANSWERS: fare-paying passenger
A life insurance policy sold in Louisiana can be contested by the
insurer only during the first ___ years of the contract
ANSWERS: two
A life insurance policy that contains a guaranteed interest rate
with the chance to earn a rate that is higher than the guaranteed
rate is called
ANSWERS: Universal life
A life insurance policy that has the premiums paid up within a
select time period is called
ANSWERS: limited payment insurance
A life insurance policy that is subject to a contract interest rate is
referred to as
ANSWERS: universal life
,A life insurance policy which contains cash values that vary according
to its investment performance of stocks is called
ANSWERS: Variable whole life
A life insurance policy written on one contract for two people in
which it is payable upon the first death is called
ANSWERS: joint
A life insurance policy owner does not have the right to
ANSWERS: revoke an absolute assignment
A life insurance policy owner was injured in an automobile
accident which results in a total and permanent disability. Which
rider would pay a monthly amount because of this disability?
ANSWERS: Disability Income Rider
A life insurance replacement transaction could result in a/n
ANSWERS: surrender charge
, A life insurance rider that allows an individual to purchase insurance as
they grow older, regardless of insurability is called a(n)
ANSWERS: Guaranteed Insurability Rider
A limited payment whole life policy provides
ANSWERS: lifetime protection
A long term care policy typically provides all of the following levels
of care except
ANSWERS: acute care
A Louisiana insurance producer solicits a life insurance policy. In
the event of a controversy between the insured and the
company, the producer is
considered to represent the
ANSWERS: company
A master contract and certificate of coverage can be found in which
type of policy
ANSWERS: Group
FINAL EXAM 2026-2027 \LATEST UPDATE WITH COMPLETE
QUESTIONS AND CORRECT DETAILED ANSWERS\VERIFIED
100% ALREADY GRADED A+
A health insurance policy will typically cover
ANSWERS: preventative health services
A licensed producer MUST be _____ by an insurer to be eligible for
soliciting insurance contracts
ANSWERS: appointed
A life insurance claim which involves a per capita distribution of
policy proceeds would be payable to the
ANSWERS: named living primary beneficiaries
A life insurance company has transferred some of its risk to another
insurer.
The insurer assuming the risk is called the
ANSWERS: reinsurer
,A life insurance policy normally contains a provision that restricts
coverage in the event of death under all of the following
situations EXCEPT
ANSWERS: fare-paying passenger
A life insurance policy sold in Louisiana can be contested by the
insurer only during the first ___ years of the contract
ANSWERS: two
A life insurance policy that contains a guaranteed interest rate
with the chance to earn a rate that is higher than the guaranteed
rate is called
ANSWERS: Universal life
A life insurance policy that has the premiums paid up within a
select time period is called
ANSWERS: limited payment insurance
A life insurance policy that is subject to a contract interest rate is
referred to as
ANSWERS: universal life
,A life insurance policy which contains cash values that vary according
to its investment performance of stocks is called
ANSWERS: Variable whole life
A life insurance policy written on one contract for two people in
which it is payable upon the first death is called
ANSWERS: joint
A life insurance policy owner does not have the right to
ANSWERS: revoke an absolute assignment
A life insurance policy owner was injured in an automobile
accident which results in a total and permanent disability. Which
rider would pay a monthly amount because of this disability?
ANSWERS: Disability Income Rider
A life insurance replacement transaction could result in a/n
ANSWERS: surrender charge
, A life insurance rider that allows an individual to purchase insurance as
they grow older, regardless of insurability is called a(n)
ANSWERS: Guaranteed Insurability Rider
A limited payment whole life policy provides
ANSWERS: lifetime protection
A long term care policy typically provides all of the following levels
of care except
ANSWERS: acute care
A Louisiana insurance producer solicits a life insurance policy. In
the event of a controversy between the insured and the
company, the producer is
considered to represent the
ANSWERS: company
A master contract and certificate of coverage can be found in which
type of policy
ANSWERS: Group
