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Property & Louisiana Casualty Exam Bundle( 100% Guaranteed Pass)

Exam (elaborations) Louisiana P&C Adjuster Exam Prep questions and answers latest update Exam (elaborations) Louisiana P & C General Insurance exam questions with correct answers Exam (elaborations) Louisiana Life, Health, and Accident Insurance Licensing Exam Questions with Complete Solutions...

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Property and Casualty Principles Study Help Chapters 1 through 4 exam questions with 100% Complete Answers

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In which of the following instances have people benefited because they owned insurance? A) After a tornado destroys the albert family home their insurance company pays to have it rebuilt exactly as it used to be on the same lot. B) Thieves break the window on Lisa Smith's Car and steal her factor...

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Property and casualty Missed practice exam questions with complete solutions 2023

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who is NOT considered an employee in a commercial general liability (CGL) policy? A. temporary worker B. leased worker C. full-time worker D. Part-time worker - Answer-A (in CGL policy, a temporary worker is not considered an employee) The national do not call registry was created to regu...

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Property and Casualty Insurance Pre-Licensing (Louisiana) Chapter 3 Dwelling Policy Notes questions with 100% correct answers (Graded A+) 2023

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Debris - Answer-remains of anything broken down or destroyed Incidental occupancy - Answer-minor uses that are accessory to or support the predominant occupancy (e.g., a piano teacher giving lessons in her home) Occurrence - Answer-an incident or event Ordinance - Answer-A law that must be ...

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Property and Casualty Insurance Basics -Louisiana exam questions with answers

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Insurable Interest - 3 Elements - Answer-1.) Financial (a monetary interest) 2.) Blood (a relative) 3.) Business (a business partner) **Insurable interest must exist at the time of the loss. Named Insured - Answer-The individual(s) whose name appears on the policy's declaration. First Na...

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Property and Casualty Insurance Basics Exam Questions with 100% Verified Correct Answers

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INSURABLE INTEREST - Answer-an economic interest in a property that must exist at the time of loss (you can insure the equity interest in your own home) UNDERWRITING - Answer-classifies the applicant based upon the underwriting requirements of the insurer; matches the risk presented with the prem...

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Property and Casualty Flash Exam Questions with Correct Answers (A Graded 2023)

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Transfer of rights and duties under the policy - Answer-Which common policy condition prohibits the insured from changing the rights or duties as defined under the policy to any other person or entity without the written consent of the insurance company? Declarations - Answer-Which of the followi...

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Property and Casualty Exam questions with complete solutions

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The Business owners Policy, or BOP, is a ____ policy that can be used to cover most small low _____. - Answer-Prepackaged, Low risk One of the advantages of the BOP is that it is ____, which means that many of the coverage questions have been predetermined by the insurance company which lowers th...

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Property and Casualty Exam Louisiana Insurance Agent Test Review questions with 100% correct answers latest update 2023

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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...

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Property and Casualty Exam Louisiana exam with verified answers

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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...

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Property and Casualty Exam- Louisiana Exam questions with Complete Solutions

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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...

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Property and Casualty Chapter 10 Insurance regulation exam questions and answers 2023

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Authorized insurer - Answer-insurer who has received a certificate of authority from the department of insurance to transact insurance in the state cease and desist - Answer-to stop or discontinue commission - Answer-payment to the agent by the insurance company for placing insurance, usually ...

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Property & Louisiana Casualty exam questions and answers

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Individual Producer [Sec. 22:1546(A)] - Answer- An individual producer is a person licensed to quote insurance policies, market and sell insurance products, and consult others with regard to insurance. Most people in Louisiana are accustomed to calling these persons insurance agents, but the term re...

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Louisiana State Insurance Laws (P&C Exam) questions with complete solutions

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A ******* is a person required under this state's laws to be licensed to sell, solicit, or negotiate insurance. This includes all persons or business entities referred to as "insurance agent", "agent", "insurance broker", "broker", "insurance solicitor", "solicitor", or "surplus lines ...

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Louisiana Property and Casualty Practice Exam questions with complete solutions

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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 ...

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Louisiana Property and Casualty Insurance Practice Quiz exam questions with 100% correct answers

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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 ...

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Louisiana Property and Casualty Insurance Law exam questions with correct answers

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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 r...

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Louisiana property and casualty exam questions with 100% correct answers

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Contracts of adhesion - Answer- Because an insurer writes the policy language and the insured has little or no control over the content, any ambiguity in the wording is usually resolved in favor of the insured. Because the design and wording of a policy are in the hands of the insurer, insurance pol...

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Louisiana Property and Casualty exam questions with answers

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Surety Bond - Answer-aka performance bonds. contract bond- guarantee that contractors perform according to contract court bond- required by court to enforce certain behavior license & permit bond- required by municipalities as a condition for granting a license to engage in activity Fidelity...

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Louisiana Property and Casualty Exam questions with complete answers

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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...

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Louisiana Property & Casualty Insurance Course Exam questions and answers

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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 Th...

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Louisiana Property & Casualty Exam - PSI & ExamFX questions with correct answers

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If a producer allows his license to lapse, within what time period may the producer reinstate the same license? - Answer-b) 2 years Producers who allow their license to lapse may reinstate them same license within 2 years, upon proof of fulfilling all continuing education requirements through the...

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Louisiana Pre-Licensing for Property and Casualty Insurance Chapter 2 Property and Casualty Insurance Basics Notes exam questions

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Depreciation - Answer-reduction in value, particularly due to wear and tear Earned premium - Answer-the portion of premium paid in advance that now belongs to the insurer because it applies to the elapsed part of the policy Exposure units - Answer-used as a measure of the rating units or the p...

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Louisiana Personal Lines exam questions with answers

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The insurer's duty to defend the insured, as provided by Section II of a Homeowners policy, ends: A) When the insured admits they were negligent B) When the damages awarded against the insured exhaust the personal liability limit C) If the insured becomes bankrupt or insolvent D) If the claim...

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LOUISIANA P&C STATE EXAMINATION QUESTIONS WITH CORRECT ANSWERS

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A business entity acting as a claims adjuster is required to obtain a claims adjuster license. Application shall be made using what application? - Answer-Uniform business entity application These required steps below represent what type of adjustor's license application? * *An adjuster s...

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Auto Insurance Snapshot Questions Louisiana Quiz Questions And correct answers

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What types of vehicles are covered under a personal auto policy? - Answer-The following vehicles are covered under a personal auto policy : any vehicle listed on the declaration page; newly acquired vehicles for 30 days; trailers owned by the insured; and temporary substitute vehicles. Define a n...

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Chapter 1 Louisiana insurance Regulation exam questions with complete Solutions

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Individual Producer - Answer-an individual producer is a person licensed to quote insurance policies, market and sell insurance products and consult other with regard to insurance. 18 years or older reside in or work from an office located tin Louisiana Completer re licensing education paid thei...

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Exam Fx Chapter 2 - Property and Casualty Insurance Basics Exam Questions with And Answers

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Financial (monetary interest) Blood (a relative) Business (a business partner) - Answer- 3 elements of insurable risk at the time of the loss - Answer- In property and casualty insurance, insurable interest must exist __ ___ ____ __ ___ ____ insured - Answer- anyone who is covered under the ...

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Exam FX Louisiana Property commercial exam questions with verified answers

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Which policy consists of the Declarations and Conditions, Endorsements, and other attachments applicable to a single line of insurance? (a) Commercial Package (b) Monoline (c) Insurance (d) Casualty - Answer- (b) Monoline A Monoline Policy contains only one coverage part page 72 A...

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Exam Fx property and casualty exam questions and answers (Rated A+ latest 2023)

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1. In dwelling policies, automatic increase in insurance is (Choose from the following options) 1. Coverage for newly acquired property. 2. Coverage by endorsement. 3. Automatic coverage. 4. Coverage without additional premium. - Answer-2. Coverage by endorsement. 2. Personal business ...

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General Insurance Property & Causality Louisiana exam questions and 100% correct answers

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The owner of a small business applies for a fire insurance policy with limits equal to 100% of the property's value. The owner has huge unsold inventories and a large personal gambling debt. From an underwriting standpoint, this might indicate - Answer-A moral hazard Which of the following best ...

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LA Claims Adjuster Property and Causality Exam (Louisiana Adjuster Law) exam questions with verified answers

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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 t...

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LA Claims Adjuster Property and Causality Practice Exam 2 questions and answers

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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 immed...

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LA Personal lines (producer) exam questions with answers

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licensing - Answer-pre-licensing requirements: -be at least 18 years of age -reside in or work mainly from an office located in Louisiana -complete pre-licensing education required to prepare for state required exam -paid their fees and submitted application -successfully pass exam with a 70...

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LA Personal Lines exam questions with complete answers

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Which type of coverage limits apply to an insured's property at any location? - Answer-Blanket An unforeseen loss that occurs at a specific time and place is - Answer-an accident In general practice, can the Commissioner of Insurance inspect the business records of a company or agency for any...

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Lesson 1: Louisiana Insurance Regulation exam questions and answers

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Objectives: ◦ List requirements of obtaining and maintaining a Louisiana Insurance License ◦ Recognize Louisiana laws governing the business of insurance ◦ Name important Federal laws that apply to insurance producers and insurers ◦ Recognize statutory time limits and dollar amounts fr...

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Louisiana Auto Adjuster Exam questions with correct answers

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diminished value - Answer-a concept that states an automobile's market value has decreased, even though it's been repaired after an accident; occurs because of the theory that repairs can't be made to put the vehicle into its exact pre-loss condition market value - Answer-a concept, which take...

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Louisiana Insurance Adjuster 2023/2024 exam questions with 100% correct answers

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Lender Interest Provisions - Answer-Protects lender interest by allowing the lender certain rights in the policy. Coinsurance Penalty - Answer-A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater t...

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Louisiana Insurance Exam Prep (Title), Louisiana Title Insurance Exam Questions with Complete Solutions

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CONTRACTS - Aleatory Contract - Answer-A contract in which the performance of either party's obligation depends on an uncertain event INSURANCE - Benchmark Rate(s) - Answer-The rate set annually by the Commissioner of Insurance by line, relative to which the flexibility bands and statutory rate ...

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Louisiana Insurance Exam questions with 100% correct answers

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Individual Producer - Answer- someone who is required to be licensed under Louisiana law to solicit, sell, negotiate, bind, procure, or renew insurance Business Entity - Answer- someone who is required to be licensed under Louisiana law to solicit, sell, negotiate, bind, procure, or renew Insuran...

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Louisiana Insurance Exam questions with answers (latest update 2023)

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Accelerated 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...

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Louisiana insurance study guide exam questions and answers ( Guaranteed Pass)

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To assure the public that only competent trustworthy individuals and other entities sell insurance and to protect and promote the public interest. - Answer-Licensing/Purose A contract under which one party undertakes to pay another against a loss of a specified contingency or peril. - Answer-Insu...

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Louisiana law exam questions and answers latest updated(Rated A+)

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in Louisiana, the insurance commissioner is elected for a term of - Answer-4 years Every insurer doing business in Louisiana must be examined at least once every - Answer-5 years An applicant for a resident insurance producer license in Louisiana must be at least - Answer-18 years old A res...

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Louisiana Licensing Regulations exam questions with complete solutions 100% Pass

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Requirements - Answer-1. No person shall act or hold himself out to be an insurance producer unless licensed by the department of insurance 2. no insurance producer shall sell, solicit, make and application for etc. any policies for any lines of insurance as to which he is not then qualified and ...

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Louisiana Life and Health Insurance Exam Questions with Complete Solutions (A+ Rated)

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All of the following are correct about the required provisions of a health insurance policy EXCEPT A. The entire contract clause means the signed application, policy, endorsements, and attachments constitute the entire contract. B. A reinstated policy provides immediate coverage for an illness...

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Louisiana Life and Health Insurance Licensing: Chapter One, General Insurance Exam Questions with complete solutions

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Agent or Producer - Answer- a legal representative of an insurance company Producer - Answer- usually includes agents and brokers Agent - Answer- represents an insurer Broker - Answer- insurance producer not appointed by an insurer and is deemed to represent the client True - Answer- T/F...

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Louisiana Life, Health, and Accident Insurance Licensing Exam Questions with Complete Solutions

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Insurance - Answer-the transfer of Pure risk to the insurance company in consideration for a premium must be pure risk and calculable. Pure Risk - Answer-the chance of loss without any chance of gain; insurable Speculative Risk - Answer-possibility for gain or loss; not insurable Risk - ...

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Louisiana P & C General Insurance exam questions with correct answers

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Insurance - Answer- A contract in which one party agrees to indemnify the insured party against loss. Indemnify - Answer- Make whole Pure risk - Answer- Situation that can only result in a loss or no change. Speculative risk - Answer- Involves opportunity for loss or gain, for example gambl...

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Louisiana P&C Adjuster Exam Prep questions and answers latest update

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The one who receives the authority to act on behalf of someone else? - Answer-Agent what does a sale's agent receive authority for? - Answer-to sell An insurance agent receives authority to what? - Answer-Settle claims brought against the insurer How do agents receive their authority? - An...

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