LA Life Insurance Series 101 Exam Questions And
Answers | Latest 2026/2027 | Guaranteed Pass.
Page 1
Which type of rider pays out a capital sum in case an insured loses a limb or
their eyesight? - Answer>> 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? - Answer>> 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? - Answer>> Regulate the replacement of Insurance by the
consumer
Which of the following is NOT an example of a prohibited
practice? - Answer>> Backdating
When demanded, hearings are held: - Answer>> Within 30 days after the date
a hearing is demanded
Which of the following is not a standard or requirement for an
illustration? - Answer>> Guaranteed elements must be labeled as such, but
non-guaranteed elements need not be labeled
Which of the following statements is NOT correct? - Answer>> In lieu of fines,
the Commissioner may have a producer imprisoned for up to one year
How many credit hours of continuing education must a producer complete
every renewal period? - Answer>> 24 (with at least 3 hours in ethics)
,Which of the following statements is FALSE with respect to HIV
testing? - Answer>> A person may not Opt-Out of HIV testing
With regard to examinations, which of the following statements is NOT
correct? - Answer>> The expense of examination of an insurer or of any
person is paid by the Department
Which of the following CORRECTLY describes the practice of
Twisting? - Answer>> Misleading and convincing an insured to surrender,
lapse, or exchange an existing policy for a different one, to the insured's
detriment
Which of the following statements is TRUE with respect to assumed
names? - Answer>> An agent who will be transacting business in Louisiana
under an assumed name must notify the Commissioner prior to using the
assumed name
Which of the following statements is FALSE regarding requirements for
accelerated benefits? - Answer>> Accelerated benefits effective for illness
immediately upon the effective date
An initial privacy notice is NOT required to be provided to: - Answer>> A
prospective customer
When do individual producer licenses expire? - Answer>> April 30th of each
even-numbered year
Which of the following statements is TRUE regarding accelerated
benefits? - Answer>> Accelerated benefits must provide for a lump sum
benefit option
,With regard to examinations by the Commissioner, the
Commissioner: - Answer>> Must conduct a financial examination of an
insurer at least once every 5 years
Which of the following statements is true with respect to supplemental
illustrations? - Answer>> A supplemental illustration must be accompanied by
or preceded by a basic illustration
For those individuals who have health issues, which of the following would be
an insurance plan to consider? - Answer>> Group
When must licensees provide privacy notices to individual
customers? - Answer>> Annually
The investor must do all of the following in a STOLI/IOLI transaction,
EXCEPT: - Answer>> Fill out the application for Life Insurance on behalf of
the Insured
Which of the following best describes a statement of Good Health? - Answer>>
It verifies that the insured has not suffered a serious illness or injury
requiring surgery or hospitalization since the application date
Which of the following is FALSE concerning licensing for Variable
products? - Answer>> An agent must be licensed as a Life agent in order to
sell a registered Variable contract
B was 42 when the Life Insurance policy was issued. 42 is referred to as the
______ age of the policy. - Answer>> Original
Which of the following would be considered a good result from an
underwriter's action when an individual Life Insurance policy is issued as
applied for? - Answer>> Issued Standard
, Page 2
What is the maximum penalty for a person convicted of willfully acting as an
insurance producer without a license in Louisiana? - Answer>> A fine of up to
$1,000 or imprisonment for up to 6 months, or both
Under Louisiana law, how many days does an insurer have to acknowledge
receipt of a claim? - Answer>> 15 days
What is the purpose of a free-look period in a life insurance
policy? - Answer>> To allow the policyowner to review the policy and return
it for a full refund within a specified number of days
Which of the following statements about the guaranteed insurability rider is
TRUE? - Answer>> It allows the insured to purchase additional coverage at
specified future dates without evidence of insurability
What is the minimum number of continuing education credit hours in ethics
required for a Louisiana producer license renewal? - Answer>> 3 hours
If an insurer fails to pay a death benefit within the time required by law, what
additional amount may be owed? - Answer>> Interest on the unpaid amount
from the date of death
Which of the following is NOT a required provision in a life insurance policy
according to Louisiana law? - Answer>> Policy loan interest rate cannot
exceed 5%
What is the maximum period a temporary license can be issued to a person
who will be taking over an existing producer's business? - Answer>> 180 days
Answers | Latest 2026/2027 | Guaranteed Pass.
Page 1
Which type of rider pays out a capital sum in case an insured loses a limb or
their eyesight? - Answer>> 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? - Answer>> 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? - Answer>> Regulate the replacement of Insurance by the
consumer
Which of the following is NOT an example of a prohibited
practice? - Answer>> Backdating
When demanded, hearings are held: - Answer>> Within 30 days after the date
a hearing is demanded
Which of the following is not a standard or requirement for an
illustration? - Answer>> Guaranteed elements must be labeled as such, but
non-guaranteed elements need not be labeled
Which of the following statements is NOT correct? - Answer>> In lieu of fines,
the Commissioner may have a producer imprisoned for up to one year
How many credit hours of continuing education must a producer complete
every renewal period? - Answer>> 24 (with at least 3 hours in ethics)
,Which of the following statements is FALSE with respect to HIV
testing? - Answer>> A person may not Opt-Out of HIV testing
With regard to examinations, which of the following statements is NOT
correct? - Answer>> The expense of examination of an insurer or of any
person is paid by the Department
Which of the following CORRECTLY describes the practice of
Twisting? - Answer>> Misleading and convincing an insured to surrender,
lapse, or exchange an existing policy for a different one, to the insured's
detriment
Which of the following statements is TRUE with respect to assumed
names? - Answer>> An agent who will be transacting business in Louisiana
under an assumed name must notify the Commissioner prior to using the
assumed name
Which of the following statements is FALSE regarding requirements for
accelerated benefits? - Answer>> Accelerated benefits effective for illness
immediately upon the effective date
An initial privacy notice is NOT required to be provided to: - Answer>> A
prospective customer
When do individual producer licenses expire? - Answer>> April 30th of each
even-numbered year
Which of the following statements is TRUE regarding accelerated
benefits? - Answer>> Accelerated benefits must provide for a lump sum
benefit option
,With regard to examinations by the Commissioner, the
Commissioner: - Answer>> Must conduct a financial examination of an
insurer at least once every 5 years
Which of the following statements is true with respect to supplemental
illustrations? - Answer>> A supplemental illustration must be accompanied by
or preceded by a basic illustration
For those individuals who have health issues, which of the following would be
an insurance plan to consider? - Answer>> Group
When must licensees provide privacy notices to individual
customers? - Answer>> Annually
The investor must do all of the following in a STOLI/IOLI transaction,
EXCEPT: - Answer>> Fill out the application for Life Insurance on behalf of
the Insured
Which of the following best describes a statement of Good Health? - Answer>>
It verifies that the insured has not suffered a serious illness or injury
requiring surgery or hospitalization since the application date
Which of the following is FALSE concerning licensing for Variable
products? - Answer>> An agent must be licensed as a Life agent in order to
sell a registered Variable contract
B was 42 when the Life Insurance policy was issued. 42 is referred to as the
______ age of the policy. - Answer>> Original
Which of the following would be considered a good result from an
underwriter's action when an individual Life Insurance policy is issued as
applied for? - Answer>> Issued Standard
, Page 2
What is the maximum penalty for a person convicted of willfully acting as an
insurance producer without a license in Louisiana? - Answer>> A fine of up to
$1,000 or imprisonment for up to 6 months, or both
Under Louisiana law, how many days does an insurer have to acknowledge
receipt of a claim? - Answer>> 15 days
What is the purpose of a free-look period in a life insurance
policy? - Answer>> To allow the policyowner to review the policy and return
it for a full refund within a specified number of days
Which of the following statements about the guaranteed insurability rider is
TRUE? - Answer>> It allows the insured to purchase additional coverage at
specified future dates without evidence of insurability
What is the minimum number of continuing education credit hours in ethics
required for a Louisiana producer license renewal? - Answer>> 3 hours
If an insurer fails to pay a death benefit within the time required by law, what
additional amount may be owed? - Answer>> Interest on the unpaid amount
from the date of death
Which of the following is NOT a required provision in a life insurance policy
according to Louisiana law? - Answer>> Policy loan interest rate cannot
exceed 5%
What is the maximum period a temporary license can be issued to a person
who will be taking over an existing producer's business? - Answer>> 180 days
