Louisiana pc Study guides, Class notes & Summaries

LOUISIANA P&C EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Aleatory Contract Correct Answer: the consideration that is being exchanged is unequal or unrelated to the consideration given by the other party Basic Form Correct Answer: named peril coverage, the least coverage available. In dwelling policies it includes: fire, lightning, removal, and internal explosion Broad Form Correct Answer: named peril coverage, covering more named perils than the basic form....

Commissioner's term of office - ANSWERS4 years Commissioners will examine each insurer - ANSWERS5 years Time to conduct a hearing - ANSWERS30 days Age to apply for producer's license - ANSWERS18 years old Producer license valid for how long - ANSWERS2 years How long to file notice of appointment with Commissioner - ANSWERS15 days How long for commissioner to determine whether producer is suitable for appointment - ANSWERS30 days How long for Commissioner to inform insurer ...

LOUISIANA P/C LICENSING EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ When an employer sends employees out of state on work related business, which of the following must he do to ensure the appropriate workers? compensation coverage? Correct Answer: List the state on the information page for other states' coverage. Under the insured's personal auto policy, which of the following is CORRECT for a newly acquired car to be covered prior to reporting it to the insura...

When an employer sends employees out of state on work related business, which of the following must he do to ensure the appropriate workers? compensation coverage? Correct Answer: List the state on the information page for other states' coverage. Under the insured's personal auto policy, which of the following is CORRECT for a newly acquired car to be covered prior to reporting it to the insurance company? Correct Answer: All coverage extends if the insured reports the car within 14 day...

A business entity acting as a claims adjuster is required to obtain a claims adjuster license. Application shall be made using what application? - correct answer -Uniform business entity application These required steps below represent what type of adjustor's license application? * *An adjuster seeking what type of License** (1) Is eligible to designate this state as his home state or is a nonresident who is not eligible for a license (2) Has not committed any act that is a gr...

Louisiana P&C Adjuster Exam Prep Chapter 2 Questions & Answers (Graded A) Louisiana P&C Adjuster Exam Prep Chapter 2 Questions & Answers (Graded A) Louisiana P&C Adjuster Exam Prep Chapter 2 Questions & Answers (Graded A) The one who receives the authority to act on behalf of someone else? - ANSWER-Agent what does a sale's agent receive authority for? - ANSWER-to sell An insurance agent receives authority to what? - ANSWER-Settle claims brought against the insurer

A business entity acting as a claims adjuster is required to obtain a claims adjuster license. Application shall be made using what application? - correct answer -Uniform business entity application These required steps below represent what type of adjustor's license application? * *An adjuster seeking what type of License** (1) Is eligible to designate this state as his home state or is a nonresident who is not eligible for a license (2) Has not committed any act that is a gr...

Individual Producer correct answers18 yrs, reside in La,passed exam Business Entity correct answersCorporation or Partnership. Must have license to transact insurance within the business Temporary LIcense correct answersgood for up to 180 days License Renewal correct answersEvery two years on the last day of you birth month 30 days correct answersnotify the commisioner of name change, address or phone number 10 days correct answersunapproved trade names or assumed names must stop ...

Commissioner's term of office Correct Answer: 4 years Commissioners will examine each insurer Correct Answer: 5 years Time to conduct a hearing Correct Answer: 30 days Age to apply for producer's license Correct Answer: 18 years old Producer license valid for how long Correct Answer: 2 years Page 2 of 12 How long to file notice of appointment with Commissioner Correct Answer: 15 days How long for commissioner to determine whether producer is suitable for appointment Correct Answe...

The one who receives the authority to act on behalf of someone else? - ANSWERSAgent what does a sale's agent receive authority for? - ANSWERSto sell An insurance agent receives authority to what? - ANSWERSSettle claims brought against the insurer How do agents receive their authority? - ANSWERSwritten contract What is the power to bind? - ANSWERSan agent's authority can bind: -what an agent says or does can bind insurer -agents should take the utmost care in what they say or d...