Property and Casualty Exam Louisiana Insurance Agent Test Review (100% Verified with correct answers) Property and Casualty Insurance Pre-Licensing (Louisiana) Chapter 3 Dwelling Policy Notes (Well-enlightened) LOUISIANA P&C STATE EXAMINATION QUESTIONS (With correct answers) Louisiana Property & Ca...
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Depreciation correct answers reduction in value, particularly due to wear and tear Earned premium correct answers 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 correct answers used as a measure of the ...
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Add to cartDepreciation correct answers reduction in value, particularly due to wear and tear Earned premium correct answers 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 correct answers used as a measure of the ...
in Louisiana, the insurance commissioner is elected for a term of correct answers 4 years Every insurer doing business in Louisiana must be examined at least once every correct answers 5 years An applicant for a resident insurance producer license in Louisiana must be at least correct answers ...
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Add to cartin Louisiana, the insurance commissioner is elected for a term of correct answers 4 years Every insurer doing business in Louisiana must be examined at least once every correct answers 5 years An applicant for a resident insurance producer license in Louisiana must be at least correct answers ...
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CONTRACTS - Aleatory Contract correct answers A contract in which the performance of either party's obligation depends on an uncertain event INSURANCE - Benchmark Rate(s) correct answers The rate set annually by the Commissioner of Insurance by line, relative to which the flexibility bands and s...
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Add to cartCONTRACTS - Aleatory Contract correct answers A contract in which the performance of either party's obligation depends on an uncertain event INSURANCE - Benchmark Rate(s) correct answers The rate set annually by the Commissioner of Insurance by line, relative to which the flexibility bands and s...
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All of the following are true of Coverage B - Other Structures correct answers The amount of coverage provided by Coverage B is an amount equal to 10% of Coverage A, An example of an other structure would be a detached garage, This coverage is not applicable on the HO-4 policy form. Homeowners po...
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Add to cartAll of the following are true of Coverage B - Other Structures correct answers The amount of coverage provided by Coverage B is an amount equal to 10% of Coverage A, An example of an other structure would be a detached garage, This coverage is not applicable on the HO-4 policy form. Homeowners po...
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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Add to cartThe 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...
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 correct answers (b) Monoline A Monoline Policy contains only one coverage part page 7...
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Add to cartWhich 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 correct answers (b) Monoline A Monoline Policy contains only one coverage part page 7...
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 correct answers A (in CGL policy, a temporary worker is not considered an employee) The national do not call registry was created ...
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Add to cartwho 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 correct answers A (in CGL policy, a temporary worker is not considered an employee) The national do not call registry was created ...
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 correct answers A moral hazard Which of the followin...
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Add to cartThe 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 correct answers A moral hazard Which of the followin...
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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? correct answers Uniform business entity application These required steps below represent what type of adjustor's license application? * *An a...
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Add to cart. A business entity acting as a claims adjuster is required to obtain a claims adjuster license. Application shall be made using what application? correct answers Uniform business entity application These required steps below represent what type of adjustor's license application? * *An a...
To assure the public that only competent trustworthy individuals and other entities sell insurance and to protect and promote the public interest. correct answers Licensing/Purose A contract under which one party undertakes to pay another against a loss of a specified contingency or peril. correc...
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Add to cartTo assure the public that only competent trustworthy individuals and other entities sell insurance and to protect and promote the public interest. correct answers Licensing/Purose A contract under which one party undertakes to pay another against a loss of a specified contingency or peril. correc...
An insured who wants Physical Damage coverage for her boat can obtain it with A. Homeowners insurance correct answers Outboard Motor and Boat insurance Outboard Motor and Boat insurance provides correct answers open peril Physical Damage coverage for boats Each of the following is true about u...
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Add to cartAn insured who wants Physical Damage coverage for her boat can obtain it with A. Homeowners insurance correct answers Outboard Motor and Boat insurance Outboard Motor and Boat insurance provides correct answers open peril Physical Damage coverage for boats Each of the following is true about u...
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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Add to cartA ******* 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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If a producer allows his license to lapse, within what time period may the producer reinstate the same license? correct answers 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 thro...
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Add to cartIf a producer allows his license to lapse, within what time period may the producer reinstate the same license? correct answers 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 thro...
Accelerated Benefits correct answers riders attached to life insurance policies which allow death benefits to be used to cover nursing and convalescent home expenses. Accident correct answers an unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance c...
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Add to cartAccelerated Benefits correct answers riders attached to life insurance policies which allow death benefits to be used to cover nursing and convalescent home expenses. Accident correct answers an unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance c...
Debris correct answers remains of anything broken down or destroyed Incidental occupancy correct answers minor uses that are accessory to or support the predominant occupancy (e.g., a piano teacher giving lessons in her home) Occurrence correct answers an incident or event Ordinance correct...
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Add to cartDebris correct answers remains of anything broken down or destroyed Incidental occupancy correct answers minor uses that are accessory to or support the predominant occupancy (e.g., a piano teacher giving lessons in her home) Occurrence correct answers an incident or event Ordinance correct...
Which one of the following statements about insurance contracts is true? correct answers They are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral correct answers because only the insurance company is legally bound to perform its part...
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Add to cartWhich one of the following statements about insurance contracts is true? correct answers They are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral correct answers because only the insurance company is legally bound to perform its part...
Abandonment correct answers The abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability correct answers A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme he...
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Add to cartAbandonment correct answers The abdication of insured property into the hands of another, or into the possession of no one in particular Absolute Liability correct answers A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme he...
All of the following situations would be covered under a professional liability policy correct answers 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 ca...
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Add to cartAll of the following situations would be covered under a professional liability policy correct answers 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 ca...
Surety Bond correct answers 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 F...
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Add to cartSurety Bond correct answers 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 F...
Commissioner's term of office correct answers 4 years Commissioners will examine each insurer correct answers 5 years Time to conduct a hearing correct answers 30 days Age to apply for producer's license correct answers 18 years old Producer license valid for how long correct answers 2...
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Add to cartCommissioner's term of office correct answers 4 years Commissioners will examine each insurer correct answers 5 years Time to conduct a hearing correct answers 30 days Age to apply for producer's license correct answers 18 years old Producer license valid for how long correct answers 2...
Authorized insurers may choose not to participate in the plan correct answers All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: short-rate correct answers The named insured may cancel a property insurance policy in this state at any time, in which case the in...
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Add to cartAuthorized insurers may choose not to participate in the plan correct answers All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: short-rate correct answers The named insured may cancel a property insurance policy in this state at any time, in which case the in...
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 correct answers Doctrine Of Reasonable Expectation What Is A Hazard? correct answers An Increase In The Po...
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Add to cartWhich 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 correct answers Doctrine Of Reasonable Expectation What Is A Hazard? correct answers An Increase In The Po...
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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Add to cartRoy 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...
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 correct answers Robbery is: correct answers Taking of property by use of force, violence, or fear The crime of forced entry i...
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Add to cartIn 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 correct answers Robbery is: correct answers Taking of property by use of force, violence, or fear The crime of forced entry i...
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 correct answers Any of the insurers providing coverage. The policy conditions define correct answers How parties to the contract must act following a loss. Be...
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Add to cartShould 2 or more insurers issue a combined Standard Fire Policy insuring a single risk, in the event of a loss, the insured must notify correct answers Any of the insurers providing coverage. The policy conditions define correct answers How parties to the contract must act following a loss. Be...
Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM cove...
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Add to cartDriver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM cove...
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