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Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+ $12.99   Add to cart

Exam (elaborations)

Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+

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  • Course
  • Louisiana P&C
  • Institution
  • Louisiana P&C

Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+

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  • December 14, 2023
  • 8
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • louisiana pc
  • Louisiana P&C
  • Louisiana P&C
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Ashley96
Louisiana Property and Casualty
Insurance Practice Quiz

180 days - ANSThe maximum term a temporary license may be issued for is

32 - ANSContinuing Education hours for a producer holding both a L&H and a P&C is

every odd numbered year - ANSProperty & Casualty licenses must be renewed

$25,000 - ANSWhat is the maximum fine that may be imposed for a willful violation of a cease
and desist order issued by the commissioner?

April 30th of odd years - ANSP&C producers license expires on

Must reside or maintain a principal place of business in Louisiana - ANSA resident producer

18 years old - ANSApplicants for licensure MUST be:

180 - ANSThe Commissioner of Insurance may issue a temporary license for period NOT TO
EXCEED _______ days without requiring examination.

10 days of the change - ANSEvery insurance licensee MUST notify the Commissioner of any
alteration in his or her residence or business address within_____

Elected - ANSThe Louisiana Insurance Commissioner is___

4 Years - ANSThe Insurance Commissioner's term of office is___

Chief Deputy Commissioner - ANSIf the Insurance Commissioner becomes incapacitated, the
commissioner's powers will be exercised by the ____

Certificate of Authority - ANSBefore a Domestic insurance company can transact insurance in
Louisiana, it must apply for a _____ which the commissioner will issue if the insurer is qualified

As deemed necessary - ANSIn addition to the minimum examination requirements, the
commissioner may examine insurers as often as__

5 Years - ANSEvery authorized insurer must be examined by the commissioner at least once
every___

, Defamation - ANSPublishing false or maliciously critical material which is derogatory to the
financial condition of an insurer is an illegal practice known as____

Rebating - ANSPromising to return a portion of a premium to a prospective insurance buyer is
an illegal practice known as___

Twisting - ANSPersuading a policyowner to drop a satisfactory policy and replace it with another
is an illegal practice called___

Title 22 - ANSThe Louisiana Insurance Code is called:

A) Misrepresentation of pertinent facts of a policy

B) Failing to promptly acknowledge, settle a claim, or provide a reasonable explanation for
denial.

C) Filling a Fraudulent claim.

D) Attempting to settle a claim for less than the amount entitled in insured's policy.

Answer: C - ANSALL are Unfair Claims Settlement Practices EXCEPT:

This is illegal and Judy could spend time in prison - ANSRon is a licensed real estate agent. He
receives a portion of the commission of every client he brings to Judy, a licensed insurance
producer:

B) Controlled Business - ANSALL of the following are Unfair Trade Practices EXCEPT:

A) Rebating

B) Controlled Business

C) Unfair Discrimination

D) Twisting

A) Gramm-Leach Bliley Act - ANSFederal Legislation that requires companies to give
consumers privacy notices that explain the institutions' information-sharing practices and
policies is known as:

A) Gramm-Leach Bliley Act

B) Title 22

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