LOUISIANA PROPERTY AND
CASUALTY INSURANCE EXAM 2024
ACTUAL 500 QUESTIONS WITH
DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /
ALREADY GRADED A+
VERSION A
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 period?
a) Loss sustained form
b) Retroactive form
c) Mysterious disappearance form
d) Discovery form - ....ANSWER...a) Loss sustained
form
,Loss sustained crime coverage pays for losses that
occur during the policy period and are found for up
to 1 year after the policy is terminated.
The causes of loss insured against in an insurance
policy are known as
a) Perils
b) Losses
c) Risks
d) Hazards - ....ANSWER...a) Perils
Perils are the causes of loss insured against in an
insurance policy.
Residential structures, including individual
condominium units, and their contents are insured
by what part of the National Flood Insurance
Program?
a) Basic coverage form
,b) Residential Condominium Building Association
Policy (RCBAP)
c) General property policy form
d) Dwelling policy form - ....ANSWER...d) Dwelling
policy form
The dwelling policy form is used to insure residential
structures and their contents including individual
condominium units.
The HO-3 homeowners policy provides
a) All-risk coverage for both the dwelling and
personal property.
b) Open peril coverage on the dwelling and broad
form coverage on personal property.
c) Open peril coverage on the dwelling and basic
form coverage on personal property.
d) Basic coverage for the dwelling and broad form
coverage for personal property. - ....ANSWER...b)
Open peril coverage on the dwelling and broad form
coverage on personal property.
, The open peril coverage applies to property insured
under Coverages A and B only.
The Gramm-Leach-Bliley Act was passed to
a) Protect private customer information filed with a
financial institution.
b) Define insurance as interstate commerce.
c) Allow consumers access to credit and private
consumer reports.
d) Allow insurance companies access to medical
information for underwriting purposes. -
....ANSWER...a) Protect private customer information
filed with a financial institution.
The Gramm-Leach-Bliley Act was passed to protect
private customer information that is filed with a
financial institution. Customers must be given two
disclosure notices (one at the onset of business and
one before information is disclosed), as well as a
yearly updated disclosure notice.
An insured carries a property policy on her home in
the amount of $250,000. A bank is shown as the
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