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Louisiana Property & Casualty Insurance Course Exam 2023/2024 already graded A+
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Louisiana Property & Casualty Insurance Course Exam 2023/2024 already graded A+
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Louisiana Property & Casualty InsuranceCourse Exam
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 - ANSDoctrine Of Reasonable Expectation
What Is A Hazard? - ANSAn Increase In The Possibility That A Loss Might Occur.
The Purpose Of Insurance Is To____________ - ANSTransfer Risk From A Person, Business
Or Organization To An Insurance Company.
The Type Of Insurance Company In Which The Policyholder Is Considered An Owner, With The
Right To Vote And Share Profits, Is A________ - ANSMutual Company
The Renewal Fee For A Louisiana Producer License Is________ - ANS$50
The Federal Law That Says The Federal Government Can Only Regulate Insurance Companies
To The Extent They Are Not Regulated By The State Law Is________ -
ANSMcCarran-Ferguson Act
An Insurance Policy Is Prepared By The Insurance Company, With Little Or No Input From The
Insured. This Means That An Insurance Policy Is A/An________ - ANSAdhesion Contract
An Individual Who Owns And Lives In A Condominium Can Obtain Broad Coverage For
Personal Property In The Condo Under Which Homeowners Form? - ANSHO-6
What Rating Method Involves Modifying The Premium Based On The Insured's Loss
Experience Over A Specific Period Of Time? - ANSExperience Rating
Which One Of The Following Types Of Benefits Is Generally Not Provided By A State's Workers
Compensation Law? - ANSPain & Suffering
Which Of The Following Describes An Insurance Company Doing Business In A State Other
Than The One Where It Is Incorporated? - ANSForeign
What Type Of Insurance Policy Insures Against All Risk Of Loss That Are Not Specifically
Excluded By The Policy? - ANSOpen Peril Policy
,Which Of The Following Describes Actual Cash Value? - ANSReplacement Cost-Depreciation
An Insured Purchased New Furniture For $6,000. At The Time Of A Fire Loss, It Had
Depreciated $2,000. The Same Furniture Will Cost $7,000 To Replace. What Is The Actual
Cash Value Of The Destroyed Furniture?
A. $4,000
B. $8,000
C. $6,000
D. $5,000 - ANS$5,000
The Primary Purpose Of The Business Income Coverage Forms Is To Reimburse The Insured
For __________. - ANSLoss Of Income Resulting From Property Damage At The Insured's
Property
The Homeowners Form That Provides Open Peril Coverage On The Dwelling And Broad
Coverage On Personal Property Is The_______
A. HO-3
B. HO-4
C HO-2
D. HO-6 - ANSHO-3
Which Of The Following Losses To Covered Equipment Would Be Covered Under The
Equipment Breakdown Protection Coverage Form? - ANSDamage From An Explosion Caused
By The Centrifugal Force Of Moving Parts
According To The Cancellation Condition In The Common Policy Conditions Form, If The
Insurance Company Is Cancelling A Commercial Package Policy For Nonpayment Of Premium,
The Insured Must Be Given At Least How Many Days Notice Of Cancellation?
A. 30
B. 60
C. 14
D. 10 - ANS10
Which Of The Following Coverages IS Included In The Homeowners Policy But Is NOT Included
In An Unendorsed Dwelling Policy? - ANSLiability
Open Peril Coverage For Both The Dwelling And Personal Property Is Provided By The
_________
A. HO-2
, B. HO-3
C. HO-5
D. HO-4 - ANSHO-5
The Insureds Home Is Covered By A DP-3. Two Years Ago, The Insured Bought The Home For
$58,000. Today, Its Replacement Value Is $60,000. How Much Coverage A Does The Insured
Need To Qualify For Replacement Cost Coverage?
A. $60,000
B. $46,000
C. $58,000
D. $48,000 - ANS$48,000
If An HO-3 Policy Has A Coverage Limit Of $100,000 On The Dwelling, How Much Coverage
Would Automatically Apply To Cover The Insureds Personal Property Under Coverage C?
A. $20,000
B. $25,000
C. $50,000
D. $100,000 - ANS$50,000
Which Of The Following Insurance Principles Permits A Policy Holder To Be Reimbursed For
Losses Experienced? - ANSIndemnification
Uncertainty Concerning Financial Loss Best Describes The Concept Of ________ - ANSRisk
Collision Insurance Covers Which Of The Following?
A. All Damage To An Auto Struck By The Insured, If The Insured Is Legally Liable
B. Upset Of The Auto Without A Deductible Applying
C. Direct Loss To The Auto Caused By Collision With Another Object
D. Collision Of The Covered Vehicle With A Large Animal - ANSDirect Loss To The Auto
Caused By Collision With Another Object
All Of The Following perils Are Covered By A Basic Property Insurance Policy EXCEPT -
ANSFalling Objects
By Entering Into An Insurance Contract, A Policy Holder Transfers The Right Of Legal Action
Against A Responsible Third Party To The Insurer. This Process Is Known As ________ -
ANSSubrogation
A Condition Creating Or Increasing The Chance For Loss Is Known As A - ANSHazard
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