Louisiana property &casualty Exam bundle questions and answers 100% correct

Should 2 or more insurers issue a combined Standard Fire Policy insuring a single risk, in the event of a loss, the insured must notify - ANSWER-Any of the insurers providing coverage. The policy conditions define - ANSWER-How parties to the contract must act following a loss. Because an insur...

Commissioner's term of office - ANSWER-4 years Commissioners will examine each insurer - ANSWER-5 years Time to conduct a hearing - ANSWER-30 days Age to apply for producer's license - ANSWER-18 years old Producer license valid for how long - ANSWER-2 years How long to file notice o...

In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy peri - ANSWER- Robbery is: - ANSWER-Taking of property by use of force, violence, or fear The crime of forced entry into the premis...

For which of the following persons is the Drive Other Car endorsement intended A Owners of school buses B The officers and directors of a corporation C Truckers and motor carriers D Individuals who do not own an auto - ANSWER-D Individuals who do not own an auto M has a liability policy insu...

All of the following situations would be covered under a professional liability policy - ANSWER-An accountant's error that inflated a bid and caused a client to lose a major account., Negligence of an architect who designed an unsafe building., Failure of a doctor to render the quality of care that...

What is a hazard? - ANSWER-An increase in the possibility that a loss might occur the purpose of insurance is to? - ANSWER-Transfer risk from a person, business, or organization to an insurance company that agrees to pay for losses in exchange for a premium. mutual company - ANSWER-type of ins...

Which one of the following statements about insurance contracts is true? - ANSWER-They are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral - ANSWER-because only the insurance company is legally bound to perform its part of the agreem...

Roy brought his house 10 years ago for 150,000 but it would cost 200,000 to rebuild it today. Because his house is in a highly desirable area, it's Fair Market Value $275,000. What amount should the agent recommend that Roy insure his house for to provide replacement cost for a total loss? A) 15...

180 days - ANSWER-The maximum term a temporary license may be issued for is 32 - ANSWER-Continuing Education hours for a producer holding both a L&H and a P&C is every odd numbered year - ANSWER-Property & Casualty licenses must be renewed $25,000 - ANSWER-What is the maximum fine that may ...

Authorized insurers may choose not to participate in the plan - ANSWER-All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: short-rate - ANSWER-The named insured may cancel a property insurance policy in this state at any time, in which case the insurer must ref...

Which One Of The Following Is NOT A Possible Defense Against Negligence? A. Statue Of Limitations B. Doctrine Of Reasonable Expectation C. Intervening Cause D. Comparative Negligence - ANSWER-Doctrine Of Reasonable Expectation What Is A Hazard? - ANSWER-An Increase In The Possibility That...

Resident License - ANSWER-Before issuing a claims adjuster license to an applicant under this section the commissioner of insurance must find that the applicant is eligiable -designate LA as his or her home state or is a non-resident eligible for a license resident -Has not committed any act th...

Insurable Interest - ANSWER-______in the property and would suffer a financial loss if the property were damaged by an insured peril, their family members (names need not be listed in the policy), and others such as a lien holder, for example, the bank that holds the mortgage on a house. Cause of...

A single Declarations page common to all coverages A single conditions section common to all coverages - ANSWER-A commercial package policy always includes Send the insured a reservation of rights letter - ANSWER-If the insured fails to report claim in a timely fashion, the adjuster will immedia...