Louisiana pc insurance Study guides, Class notes & Summaries

A ******* is a person required under this state's laws to be licensed to sell, solicit, or negotiate insurance. This includes all persons or business entities referred to as "insurance agent", "agent", "insurance broker", "broker", "insurance solicitor", "solicitor", or "surplus lines broker". - ANSWERSIndividual producer A person applying for a producer license must: - ANSWERS-atleast 18 years old -Reside, or maintain their place of business in LA -Not committed any act tha...

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 Insurance Exam Review set one with Complete Solutions Louisiana P&C Insurance Exam Review set one with Complete Solutions Louisiana P&C Insurance Exam Review set one with Complete Solutions Louisiana P&C Insurance Exam Review set one with Complete Solutions 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...

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...

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 ...

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...

Louisiana P&C Adjuster Exam Prep Questions With 100% Correct!!

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...