Louisiana Life, Accident and Health Practice Exam Test Questions & Answers

Select from the choices below the best description of a speculative risk? Involving the possibility of a gain in addition to the uncertainty of loss If there is a material change in an MEC contract, what is the first thing needing to be done? Another 7 pay test Which of the following is not taxable? Fixed amount installments A premature distribution from a Roth IRA made before the age 59.5 is subject to a 10% penalty tax unless: It was used as a down payment on first home Carlos cancels his life policy but instructs the insurance company to transfer the cash value of his policy to an annuity. This non taxable transaction is called? 1035 Exchange Which of the following is a disadvantage to setup and participate in a qualified retirement plan? Immediate liquidity All of these types of distributions that are exceptions to the 10% penalty rule except: New car purchase Which of the following does not describe a 401(K) characteristics Currently $49,000 maximum contribution The following are examples of Qualified Retirement Plans except: 501c(3) Which of the following is not correct regarding Long Term Care It provides different benefits for different levels of care Medicare Select is a type of? Medicare Supplement plan offered by an HMO Which of the following statements is correct regarding Medicare Advantage It can offer benefits that ate not covered by regular Medicare Which of the following is correct with regards to the hospital insurance Part A plan of Medicare Insured must satisfy a deductible