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Louisiana property &casualty Exam bundle questions and answers 100% correct
Louisiana property &casualty Exam bundle questions and answers 100% correct
[Meer zien]Louisiana property &casualty Exam bundle questions and answers 100% correct
[Meer zien]Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM cove...
Voorbeeld 4 van de 33 pagina's
In winkelwagenDriver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM cove...
Should 2 or more insurers issue a combined Standard Fire Policy insuring a single risk, in the event of a loss, the insured must notify - ANSWER-Any of the insurers providing coverage. 
 
The policy conditions define - ANSWER-How parties to the contract must act following a loss. 
 
Because an insur...
Voorbeeld 3 van de 20 pagina's
In winkelwagenShould 2 or more insurers issue a combined Standard Fire Policy insuring a single risk, in the event of a loss, the insured must notify - ANSWER-Any of the insurers providing coverage. 
 
The policy conditions define - ANSWER-How parties to the contract must act following a loss. 
 
Because an insur...
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 file notice o...
Voorbeeld 2 van de 5 pagina's
In winkelwagenCommissioner'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 file notice o...
In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy peri - ANSWER- 
 
Robbery is: - ANSWER-Taking of property by use of force, violence, or fear 
 
The crime of forced entry into the premis...
Voorbeeld 3 van de 24 pagina's
In winkelwagenIn which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy peri - ANSWER- 
 
Robbery is: - ANSWER-Taking of property by use of force, violence, or fear 
 
The crime of forced entry into the premis...
For which of the following persons is the Drive Other Car endorsement intended 
A Owners of school buses 
B The officers and directors of a corporation 
C Truckers and motor carriers 
D Individuals who do not own an auto - ANSWER-D 
Individuals who do not own an auto 
 
M has a liability policy insu...
Voorbeeld 3 van de 26 pagina's
In winkelwagenFor which of the following persons is the Drive Other Car endorsement intended 
A Owners of school buses 
B The officers and directors of a corporation 
C Truckers and motor carriers 
D Individuals who do not own an auto - ANSWER-D 
Individuals who do not own an auto 
 
M has a liability policy insu...
All of the following situations would be covered under a professional liability policy - ANSWER-An accountant's error that inflated a bid and caused a client to lose a major account., Negligence of an architect who designed an unsafe building., Failure of a doctor to render the quality of care that...
Voorbeeld 4 van de 38 pagina's
In winkelwagenAll of the following situations would be covered under a professional liability policy - ANSWER-An accountant's error that inflated a bid and caused a client to lose a major account., Negligence of an architect who designed an unsafe building., Failure of a doctor to render the quality of care that...
What is a hazard? - ANSWER-An increase in the possibility that a loss might occur 
 
the purpose of insurance is to? - ANSWER-Transfer risk from a person, business, or organization to an insurance company that agrees to pay for losses in exchange for a premium. 
 
mutual company - ANSWER-type of ins...
Voorbeeld 1 van de 4 pagina's
In winkelwagenWhat is a hazard? - ANSWER-An increase in the possibility that a loss might occur 
 
the purpose of insurance is to? - ANSWER-Transfer risk from a person, business, or organization to an insurance company that agrees to pay for losses in exchange for a premium. 
 
mutual company - ANSWER-type of ins...
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 agreem...
Voorbeeld 2 van de 11 pagina's
In winkelwagenWhich 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 agreem...
Roy brought his house 10 years ago for 150,000 but it would cost 200,000 to rebuild it today. Because his house is in a highly desirable area, it's Fair Market Value $275,000. What amount should the agent recommend that Roy insure his house for to provide replacement cost for a total loss? 
 
A) 15...
Voorbeeld 2 van de 11 pagina's
In winkelwagenRoy brought his house 10 years ago for 150,000 but it would cost 200,000 to rebuild it today. Because his house is in a highly desirable area, it's Fair Market Value $275,000. What amount should the agent recommend that Roy insure his house for to provide replacement cost for a total loss? 
 
A) 15...
180 days - ANSWER-The maximum term a temporary license may be issued for is 
 
32 - ANSWER-Continuing Education hours for a producer holding both a L&H and a P&C is 
 
every odd numbered year - ANSWER-Property & Casualty licenses must be renewed 
 
$25,000 - ANSWER-What is the maximum fine that may ...
Voorbeeld 2 van de 8 pagina's
In winkelwagen180 days - ANSWER-The maximum term a temporary license may be issued for is 
 
32 - ANSWER-Continuing Education hours for a producer holding both a L&H and a P&C is 
 
every odd numbered year - ANSWER-Property & Casualty licenses must be renewed 
 
$25,000 - ANSWER-What is the maximum fine that may ...
Authorized insurers may choose not to participate in the plan - ANSWER-All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: 
 
short-rate - ANSWER-The named insured may cancel a property insurance policy in this state at any time, in which case the insurer must ref...
Voorbeeld 1 van de 4 pagina's
In winkelwagenAuthorized insurers may choose not to participate in the plan - ANSWER-All of the following are true regarding the Louisiana Automobile Insurance Plan EXCEPT: 
 
short-rate - ANSWER-The named insured may cancel a property insurance policy in this state at any time, in which case the insurer must ref...
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 - ANSWER-Doctrine Of Reasonable Expectation 
 
What Is A Hazard? - ANSWER-An Increase In The Possibility That...
Voorbeeld 3 van de 17 pagina's
In winkelwagenWhich 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 - ANSWER-Doctrine Of Reasonable Expectation 
 
What Is A Hazard? - ANSWER-An Increase In The Possibility That...
Resident License - ANSWER-Before issuing a claims adjuster license to an applicant under this section the commissioner of insurance must find that the applicant is eligiable 
 
-designate LA as his or her home state or is a non-resident eligible for a license resident 
-Has not committed any act th...
Voorbeeld 1 van de 3 pagina's
In winkelwagenResident License - ANSWER-Before issuing a claims adjuster license to an applicant under this section the commissioner of insurance must find that the applicant is eligiable 
 
-designate LA as his or her home state or is a non-resident eligible for a license resident 
-Has not committed any act th...
Insurable Interest - ANSWER-______in the property and would suffer a financial loss if the property were damaged by an insured peril, their family members (names need not be listed in the policy), and others such as a lien holder, for example, the bank that holds the mortgage on a house. 
 
Cause of...
Voorbeeld 3 van de 29 pagina's
In winkelwagenInsurable Interest - ANSWER-______in the property and would suffer a financial loss if the property were damaged by an insured peril, their family members (names need not be listed in the policy), and others such as a lien holder, for example, the bank that holds the mortgage on a house. 
 
Cause of...
A single Declarations page common to all coverages 
A single conditions section common to all coverages - ANSWER-A commercial package policy always includes 
 
Send the insured a reservation of rights letter - ANSWER-If the insured fails to report claim in a timely fashion, the adjuster will immedia...
Voorbeeld 3 van de 17 pagina's
In winkelwagenA single Declarations page common to all coverages 
A single conditions section common to all coverages - ANSWER-A commercial package policy always includes 
 
Send the insured a reservation of rights letter - ANSWER-If the insured fails to report claim in a timely fashion, the adjuster will immedia...
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? - AN...
Voorbeeld 3 van de 16 pagina's
In winkelwagenThe 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? - AN...
multi-line policies - ANSWER-HO policies are _ which mean they combine property and casualty coverages in the same policy. it packages several coverages related to a specific type of exposure, and it reduces the number of policies one has to purchase. 
 
personal package policy - ANSWER-HO insurance...
Voorbeeld 2 van de 7 pagina's
In winkelwagenmulti-line policies - ANSWER-HO policies are _ which mean they combine property and casualty coverages in the same policy. it packages several coverages related to a specific type of exposure, and it reduces the number of policies one has to purchase. 
 
personal package policy - ANSWER-HO insurance...
Interstate Commerce - ANSWER-Traffic, intercourse, commercial trading or the transportation of persons or property between or among several states of the union or from or between points in one state and points in another state. 
 
Paul vs. Virginia - ANSWER-1869; Ratified the regulation of insurance...
Voorbeeld 2 van de 13 pagina's
In winkelwagenInterstate Commerce - ANSWER-Traffic, intercourse, commercial trading or the transportation of persons or property between or among several states of the union or from or between points in one state and points in another state. 
 
Paul vs. Virginia - ANSWER-1869; Ratified the regulation of insurance...
If a producer allows his license to lapse, within what time period may the producer reinstate the same license? - ANSWER-b) 2 years 
 
Producers who allow their license to lapse may reinstate them same license within 2 years, upon proof of fulfilling all continuing education requirements through the...
Voorbeeld 2 van de 7 pagina's
In winkelwagenIf a producer allows his license to lapse, within what time period may the producer reinstate the same license? - ANSWER-b) 2 years 
 
Producers who allow their license to lapse may reinstate them same license within 2 years, upon proof of fulfilling all continuing education requirements through the...
. 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...
Voorbeeld 2 van de 9 pagina's
In winkelwagen. 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...
Lender Interest Provisions - ANSWER-Protects lender interest by allowing the lender certain rights in the policy. 
 
Coinsurance Penalty - ANSWER-A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater t...
Voorbeeld 3 van de 16 pagina's
In winkelwagenLender Interest Provisions - ANSWER-Protects lender interest by allowing the lender certain rights in the policy. 
 
Coinsurance Penalty - ANSWER-A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater t...
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