- | P a g e
LA Series 103 exam Newest 2025 Complete All Questions And Correct Detailed Answers (Verified Answers)|Already Graded A+
A rider that assures premiums will be paid on a juvenile policy until the child reaches a specific age is called - CORRECT ANSWER-payor rider
A rollover from a Traditional IRA to another IRA must be done within ___ days to avoid tax consequences - CORRECT ANSWER-60
A Roth IRA owner must be at least what age in order to make tax-free withdrawals - CORRECT ANSWER-59 1/2 and owned account for minimum of 5 years
A securities license is required for a life insurance agent producer to sell
- CORRECT ANSWER-Variable Life Insurance
A type of group that has a constitution and bylaws and has been organized for purposes other than obtaining insurance is called a - CORRECT ANSWER-association or labor group
- / 4
- | P a g e
A viatical settlement broker may NOT - CORRECT ANSWER-make any transactions before being approved for a license.
A waiver of premium rider allows an insured to waive premium payments if the insured is - CORRECT ANSWER-completely and permanently disabled
A Whole life Insurance policy accumulates cash value that becomes - CORRECT ANSWER-The policy loan value which the insured may borrow against against
A whole life policy option where extended term insurance is selected is called a(n) - CORRECT ANSWER-nonforfeiture option
A(n) _______ sells, solicits, or negotiates insurance on behalf of insurance companies for compensation - CORRECT ANSWER-producer
According to HIPPA, when an insured individual leaves an employer and immediately begins working for a new company that offers group health insurance, the individual - CORRECT ANSWER-is eligible for coverage upon hire
According to life insurance contract law, insurable interest exists - CORRECT ANSWER-at the time of application 2 / 4
- | P a g e
According to Louisiana law, group life insurance conversion privileges must NOT - CORRECT ANSWER-require evidence of insurability
According to the Health Insurance Portability and Accountability Act (HIPPA), when can a group health policy renewal be denied? - CORRECT ANSWER-Participation or contribution rules have been violated
Advertising regulations exist in order to - CORRECT ANSWER- demonstrate full and truthful disclosure to the public
After ____ years from date of issue, a policy can no longer be cancelled by the insurer for misstatements (except for fraud) - CORRECT ANSWER- 3
After a disability policy has been in force for ____ year(s), it is considered incontestable - CORRECT ANSWER-3
After an annuity has been in force for ____ year(s), it is considered incontestable - CORRECT ANSWER-2 years
After an insured gives notice of loss, what must he/she do if the insurer does not furnish forms? - CORRECT ANSWER-File written proof of loss 3 / 4
- | P a g e
After the first payment is made, the grace period for an accident and health policy is - CORRECT ANSWER-30 days
All _____ policies must be guaranteed renewable - CORRECT ANSWER- long term care
All health Benefit Plans issued after January 1, 2014 must provide - CORRECT ANSWER-preventative health services
All Louisiana licesed producers must complete which of the following continuing education requirements - CORRECT ANSWER-24 hours every
- years
All MedicareSupplement policies MUST contain which provisions? - CORRECT ANSWER-Pre-Existing conditions may be excluded from coverage for a maximum of 6 months.
All of the following actions are considered rebating except - CORRECT ANSWER-Sharing commissions with other producers
All of the following are characteristics of a Group Life Insurance Plan EXCEPT - CORRECT ANSWER-individual underwriting
- / 4