Louisiana property and c - Study guides, Class notes & Summaries

who is NOT considered an employee in a commercial general liability (CGL) policy? A. temporary worker B. leased worker C. full-time worker D. Part-time worker A (in CGL policy, a temporary worker is not considered an employee) The national do not call registry was created to regulate A. telemarketers B. field underwriters C. Insurers D. insurance solicitors A In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports? A. they p...

Louisiana Property and Casualty Exam- Updated Questions and Answers 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 Correct Answer Any of the insurers providing coverage. The policy conditions define Correct Answer How parties to the contract must act following a loss. Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the follo...

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 - ANSWERSDoctrine Of Reasonable Expectation What Is A Hazard? - ANSWERSAn Increase In The Possibility That A Loss Might Occur. The Purpose Of Insurance Is To____________ - ANSWERSTransfer Risk From A Person, Business Or Organization To An Insurance Company. The Type Of Insurance Company In Which The...

Louisiana Property and Casualty Exam With Verified Answers 2024:2025 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 Correct Answer Robbery is: Correct Answer Taking of property by use of force, violence, or fear The crime of forced entry into the premises of another by a persons with felonious intent is defined as: Correct Answer Burglary Erroneous Publishing copi...

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 coverage pay? a) $125,000 b) $75,000 c) $50,000 d) $25,000 CORRECT ANSWER c) $50,000 Underinsured motorist coverage acts as excess over the at-fault motorist's coverage. It will pay the d...

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 correct answers Robbery is: correct answers Taking of property by use of force, violence, or fear The crime of forced entry into the premises of another by a persons with felonious intent is defined as: correct answers Burglary Erroneous Publishing copied all the material from Angel's Inc book. The only changes made by ...

Random Exam Questions Louisiana Property and Casualty with Complete Solutions Random Exam Questions Louisiana Property and Casualty with Complete Solutions Random Exam Questions Louisiana Property and Casualty with Complete Solutions 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...

Depreciation correct answers reduction in value, particularly due to wear and tear Earned premium correct answers the portion of premium paid in advance that now belongs to the insurer because it applies to the elapsed part of the policy Exposure units correct answers used as a measure of the rating units or the premium base of a risk (exposure units multiplied by the rate results in the premium) Homogeneity correct answers the degree to which items are similar Implied warranty corre...

Depreciation reduction in value, particularly due to wear and tear Earned premium the portion of premium paid in advance that now belongs to the insurer because it applies to the elapsed part of the policy Exposure units used as a measure of the rating units or the premium base of a risk (exposure units multiplied by the rate results in the premium) Homogeneity the degree to which items are similar Implied warranty a legal term meaning that a product is suitable for its intended purpose and ...

Surety Bond correct answers aka performance bonds. contract bond- guarantee that contractors perform according to contract court bond- required by court to enforce certain behavior license & permit bond- required by municipalities as a condition for granting a license to engage in activity Fidelity Bonds correct answers aka Honesty Bonds- cover employer from direct loss due to fraudulent & dishonest acts of employees Individual Bond- bond single employee None Schedule Bond- bond sever...