LA Life, Health & Accident Insurance Series 103 Practice Exam Q&A.
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LA Life, Health & Accident Insurance
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LA Life, Health & Accident Insurance
LA Life, Health & Accident Insurance Series 103 Practice Exam Q&A. Terms like:
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? - ...
LA Life, Health & Accident Insurance Series 103
Practice Exam Q&A.
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
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
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, 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
When does insurable interest come into play in a life insurance policy? - Answer: When the
applicant for the policy is not the insured
Which of the following must be given to the insurer within 20 days after occurrence or
commencement of any loss covered by the policy, or as soon thereafter as is reasonably
possible? - Answer: Notice of claim
Which of the following is TRUE for a flexible premium annuity? - Answer: The purchaser has the
option to vary the amount of each premium payment falling between a minimum and maximum
amount.
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