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LOUISIANA LAWS (LIFE/HEALTH INSURANCE EXAM)
Actual Qs and Ans - Expert-Verified Explanation -Guaranteed passing score -36 Questions and Answers
-Format: Multiple-choice / Flashcard
Question 1: What can be described as a company that is chartered and organized in any country other than the United States?
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Alien Question 2: Using misrepresentations or inaccurate comparisons to induce a person to terminate or borrow against their current insurance policy to take out an insurance policy with another insure.
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Twisting Question 3: A producer who holds a resident license in a different state may apply for a nonresident license in Louisiana, as long as both states have a what?
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Reciprocal Agreement Question 4: The Commissioner may conduct a financial examination of any insurance company as often as deemed appropriate but usually once every how many years?
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5
Question 5: Producers must complete 24 hours of continuing education every _____ years to keep their license active.
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2 Question 6: Any Louisiana Corporation that provides enrollees with basic health care services in return for a prepaid charge.
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Health Maintenance Organization Question 7: This provision states that if the insured's age was misstated on an application, any benefit amounts will be calculated according to how much coverage the premium paid would have purchased for the correct age.
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Misstatement of Age Question 8: The grace period for health and accident insurance is _____ days from the date the premium was due. If premium is paid within the grace period, coverage shall remain in effect.
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30 Question 9: What can be described as a company that resides and is incorporated under the laws of the state in which its home office is located?
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Domestic Question 10: When the insured and beneficiary both die and there is insufficient evidence that they have died otherwise than simultaneously, the policy proceeds will be distributed as if the insured had survived the beneficiary.
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Common Disaster Clause Question 11: The Commissioner may call and hold hearings if a producer is suspected of violating the Insurance Code. The hearing will be held within how many days of demand?
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30 days
Question 12: Misrepresenting a material fact in selling a long-term care insurance policy
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Misrepresentation Question 13: What is an illegal practice to unfairly discriminate against a person in any way on an insurance-related matter? An example would be charging a different rate for someone in the same risk category.
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Unfair Discrimination Question 14: True or False: An agent may legally share commissions only with another agent who is licensed in the same line of insurance,
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True Question 15: What is an illegal practice to make any public statement or advertisement that contains false information or unsubstantiated criticisms about an insurance company?
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Defamation of insurer Question 16: Any person, including a physician or hospital, who is licensed or otherwise authorized in this state to provide health care services.
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Provider Question 17: Written proof of loss must be furnished to the insurer within _____ days after the date of such loss.
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90 Question 18: EXCEPT for fraud, the time after issuance of a policy during which an insurance company may contest a health insurance claim due to the statements on an application is 3 years. What is this period called?
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Contestability Period (Time Limit on Certain Defenses)
Question 19: Who is responsible for making sure the provisions of the Louisiana Insurance Codes are enforced?
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Commissioner of Insurance Question 20: Death benefits must be settled within how many days of receipt of proof of death, otherwise the insurer must pay 8% per year interest on the amount due?
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60 Question 21: The person who is responsible for payment to an HMO or whose employment or other status is the basis for eligibility for enrollment in an HMO.
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Subscriber Question 22: A provision that the policy (including the endorsements and the attached papers) along with the written application shall constitute the entire contract between the parties.
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Entire Contract Question 23: Insurers are responsible for submitting an appointment notice to the Commissioner within how many days of a producer's appointment or submission of first insurance application?
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15 Question 24: What is an illegal practice to misrepresent any fact about an insurance policy, such as policy terms, benefits, value, cost, effective date, or existence of a contract of insurance?
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Misrepresentation Question 25: What can be described as a company whose home office is located in another state?
Answer:
Foreign
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