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Louisiana Insurance Exam questions n answers graded A+ passed
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Louisiana Insurance Exam questions n answers graded A+ passed
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Louisiana Insurance ExamAccelerated Benefits - correct answer ✔✔riders attached to life insurance policies which allow death
benefits to be used to cover nursing and convalescent home expenses.
Accident - correct answer ✔✔an unplanned, unforeseen event which occurs suddenly and at an
unspecified place.
Accident Insurance - correct answer ✔✔A type of insurance that protects the insured against loss due to
accidental bodily injury.
Accidental Bodily Injury - correct answer ✔✔unplanned, unforeseen traumatic injury to the body.
Accidental Death and Dismemberment (AD&D) - correct answer ✔✔an insurance policy which pays a
specified amount or a specified multiple of the insured's benefit if the insured dies, loses his/her sight, or
loses two limbs due to an accident.
Accidental Death Benefits - correct answer ✔✔a policy rider that states that the cause of death will be
analyzed to determine if it complies with the policy description of accidental death.
Accidental Death Insurance - correct answer ✔✔an insurance policy that provides payment if the
insured's death is the result of an accident.
Accumulation Period - correct answer ✔✔the time over which the annuitant makes payments or
investments in an annuity, and when those payments earn interest tax deferred.
Activities of Daily Living (ADL's) - correct answer ✔✔activities individuals must do every day such as
moving about, getting dressed, eating, bathing, etc.
Actual Cash Value (ACV) - correct answer ✔✔the required amount to pay damages or for property loss,
which is calculated based on the property's current replacement value minus depreciation.
, Actual Charge - correct answer ✔✔the amount a physician or supplier actually bills for a particular
service or supply.
Actuary - correct answer ✔✔a person trained in the technical aspects of insurance and related fields,
particularly in the mathematics of insurance; a person who, on behalf of the company, determines the
mathematical probability of loss.
Adhesion - correct answer ✔✔a contract offered on a "take-it-or-leave-it" basis by an insurer, in which
the insured's only option is to accept or reject the contract. any ambiguities in the contract will be
settled in favor of the insured.
Adjustable Life - correct answer ✔✔life insurance which permits changes in the face amount, premium
amount, period of protection, and the duration of the premium payment period.
Adjuster - correct answer ✔✔a representative of an insurance company who investigates and acts on the
behalf of the company to obtain agreements for the amount of the insurance claim
Administrator - correct answer ✔✔an individual appointed by a court as a fiduciary to settle the financial
affairs and estate of a deceased person.
Admitted (authorized) Insurer - correct answer ✔✔an insurance company authorized and licensed to
transact business in a particular state.
Adult Day Care - correct answer ✔✔a program for impaired adults that attempts to meet their health,
social, and functional needs in a setting away from their homes.
Adverse Selection - correct answer ✔✔the tendency of risks with higher probability of loss to purchase
and maintain insurance more often than the risks who present lower probability.
Agency - correct answer ✔✔an insurance sales office or company
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