LA Life, Health & Accident Insurance Series 103 Practice Exam Q&A.
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LA Life, Health & Accident Insurance Series
Institution
LA Life, Health & Accident Insurance Series
LA Life, Health & Accident Insurance Series 103 Practice Exam Q&A. Terms like:
In which of the following does a covered employee agree to a reduction in compensation so the amount can be used to cover medical expenses? - Answer: Flexible Spending Account (FSA)
A consumer report used to deter...
LA Life, Health & Accident Insurance Series 103
Practice Exam Q&A.
In which of the following does a covered employee agree to a reduction in compensation so the
amount can be used to cover medical expenses? - Answer: Flexible Spending Account (FSA)
A consumer report used to determine eligibility for insurance may include all of the following
EXCEPT - Answer: Medical underwriting exam.
Which policy provision permits the policyowner to take a specified number of days to examine
the contract, and allows for cancellation and a full refund if the policyowner rejects the terms or
costs? - Answer: Free look
All of the following are required signatures on a life insurance application EXCEPT - Answer: The
minor in a juvenile policy.
Why is rehabilitation considered worthy of federal help under workers' compensation? -
Answer: It reduces insurance losses and helps regain the worker's dignity
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, All of the following are characteristics of variable whole life EXCEPT - Answer: There is no
guaranteed minimum death benefit.
Why is the accidental death benefit referred to as double indemnity? - Answer: It provides
twice the face value in the policy for death due to accident
What is a MIB report? - Answer: Medical information on an applicant for assessing life or health
insurance risk
In noncontributory plans, which percentage of eligible members must participate? - Answer:
100%
When should a buy-sell agreement include a provision for the buy-out of an owner's business
interest in the event of a disability? - Answer: When there is a buy-sell agreement funded with
life insurance to buyout the interest of a deceased owner or partner.
Why is relying solely on employer group life insurance generally considered inadequate for most
individual's needs? - Answer: It is financially insufficient to cover end of life expenses.
Managed care plans increase efficiency by all of the following means EXCEPT - Answer:
Transferring the management of costs to the insureds.
Which of the following is covered by a dread disease policy? - Answer: Illnesses that do not
occur frequently but incur significant costs when they do occur
In a home healthcare benefit, all of the following are eligible expenses EXCEPT - Answer: Blood
transfusions
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