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Louisiana Insurance Exam Questions and Correct Answers
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Louisiana Insurance Exam Questions and Correct Answers
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Louisiana Insurance ExamAccelerated Benefits - Answer -riders attached to life insurance policies which allow death benefits to be
used to cover nursing and convalescent home expenses.
Accident - Answer -an unplanned, unforeseen event which occurs suddenly and at an unspecified place.
Accident Insurance - Answer -A type of insurance that protects the insured against loss due to accidental
bodily injury.
Accidental Bodily Injury - Answer -unplanned, unforeseen traumatic injury to the body.
Accidental Death and Dismemberment (AD&D) - 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 - 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 - Answer -an insurance policy that provides payment if the insured's death is
the result of an accident.
, Accumulation Period - 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) - Answer -activities individuals must do every day such as moving about,
getting dressed, eating, bathing, etc.
Actual Cash Value (ACV) - 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 - Answer -the amount a physician or supplier actually bills for a particular service or
supply.
Actuary - 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 - 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 - Answer -life insurance which permits changes in the face amount, premium amount,
period of protection, and the duration of the premium payment period.
Adjuster - 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 - Answer -an individual appointed by a court as a fiduciary to settle the financial affairs
and estate of a deceased person.
Admitted (authorized) Insurer - Answer -an insurance company authorized and licensed to transact
business in a particular state.
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