Louisiana pc Study guides, Class notes & Summaries

Which one of the following statements about insurance contracts is true? - ANSWERSThey are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral - ANSWERSbecause only the insurance company is legally bound to perform its part of the agreement. While both the insured and the insurer must give consideration, it need not be equal. The policy provisions are prepared by the insurer, with little or no input from the insured Which part of ...

Which one of the following statements about insurance contracts is true? - ANSWER-They are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral - ANSWER-because only the insurance company is legally bound to perform its part of the agreement. While both the insured and the insurer must give consideration, it need not be equal. The policy provisions are prepared by the insurer, with little or no input from the insured Which part of ...

Louisiana P&C Insurance Exam with Complete SolutionsLouisiana P&C Insurance Exam with Complete SolutionsLouisiana P&C Insurance Exam with Complete SolutionsLouisiana P&C Insurance Exam with Complete Solutions Commissioner's term of office - ANSWER-4 years Commissioners will examine each insurer - ANSWER-5 years Time to conduct a hearing - ANSWER-30 days Age to apply for producer's license - ANSWER-18 years old Producer license valid for how long - ANSWER-2 years How long to f...

. A business entity acting as a claims adjuster is required to obtain a claims adjuster license. Application shall be made using what application? - 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 ground fo...

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 How do agents receive their authority? - ANSWER-written contract What is the power to bind? - ANSWER-an 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...

Louisiana P&C Insurance Exam with Complete Solutions Louisiana P&C Insurance Exam with Complete Solutions Louisiana P&C Insurance Exam with Complete Solutions Louisiana P&C Insurance Exam with Complete Solutions Commissioner's term of office - ANSWER-4 years Commissioners will examine each insurer - ANSWER-5 years Time to conduct a hearing - ANSWER-30 days

Lesson 1: Louisiana Insurance Regulation 2023/2024 already graded A+

Louisiana P&C Insurance Exam Review set one latest 2023 exam questions with correct answers

Which one of the following statements about insurance contracts is true? - ANSWERSThey are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral - ANSWERSbecause only the insurance company is legally bound to perform its part of the agreement. While both the insured and the insurer must give consideration, it need not be equal. The policy provisions are prepared by the insurer, with little or no input from the insured Which part of ...

Which one of the following statements about insurance contracts is true? - ANSWERSThey are personal contracts because they insure people, not property. Insurance policies are considered to be unilateral - ANSWERSbecause only the insurance company is legally bound to perform its part of the agreement. While both the insured and the insurer must give consideration, it need not be equal. The policy provisions are prepared by the insurer, with little or no input from the insured Which part of ...