Louisiana Property and Casualty Insurance Exam with our Q&A Bundle!

A Contract of Adhesion means: terms are drawn up by the insurer and the insured adheres to the terms A name schedule bond covers several specific individuals who are named on the bond. New employees who replace schedule employees are: automatically covered for thirty (30) days, but the coverage is ...

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

Select from the choices below the best description of a speculative risk? Involving the possibility of a gain in addition to the uncertainty of loss If there is a material change in an MEC contract, what is the first thing needing to be done? Another 7 pay test Which of the following is not taxabl...

Depreciation reduction in value, particularly due to wear and tear Earned premium 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 used as a measure of the rating units or the premium base of a risk (exposure...

Insurable Interest - 3 Elements 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 The individual(s) whose name appears on the policy's declaration. First Name Insured The individua...

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 A (in CGL policy, a temporary worker is not considered an employee) The national do not call registry was created to regulate A. telemarkete...

Exclusions Risks or causes of loss that the insurer decides not to cover Named peril Narrow coverage = few exclusions open peril Wide coverage = many exclusions Exclusions to HO Property Coverage ordinance or law, earth movement, water damage, off premises power failure, neglect, war, nuclear haz...

All of the following situations would be covered under a professional liability policy 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 is cus...