Louisiana Life, Health & Accident Insurance Series 103 Practice Exam | 90 Questions with 100% Correct Answers | Verified | Latest Update
Question 1: Which of the following reimburses its insureds
for covered medical expenses?
Health maintenance organizations
Preferred provider organizations
Commercial insurers
Service providers
Correct answer: Commercial insurers
Question 2: The provision in a Group Health policy that
allows the insurer to postpone coverage for a covered illness 30 days after the policy's effective date is referred to as the
Grace Period
Waiting Period
Postponement Period
Elimination Period
Correct answer: Waiting Period
Question 3: Which of the following statements is NOT
CORRECT about the Commissioner of Insurance?
The Commissioner must be elected in a general election
The Commissioner is authorized to conduct the activities of the Texas Department of Insurance (TDI)
The Commissioner may be a former employee of the Texas Department of Insurance (TDI)
The Commissioner must serve as chief executive and administrator officer of the Texas Department of Insurance
Correct answer: The Commissioner must be elected in a
general election
Question 4: The automatic premium loan provision is
designed to
provide a source of revenue to the insurance company
avoid a policy lapse
allow a policyowner to request a policy loan
allow a policyowner to take out additional coverage without evidence of insurability
Correct answer: avoid a policy lapse
Question 5: T and S are named co-primary beneficiaries on a
$500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the death benefit will the mother receive?
$1,000,000
$500,000
$250,000
$0