Louisiana pc - Samenvattingen en Aantekeningen

Louisiana P&C Insurance Exam | Questions with 100% Correct Answers | Updated &Verified | | 100% Score

Louisiana P&C Insurance Exam | Questions with 100% Correct Answers | Updated &Verified | | 100% Score

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...

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. In dwelling coverage it covers all perils under basic including EC and V&MM plus: ...

LOUISIANA P&C INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ 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...

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? -

The one who receives the authority to act on behalf of someone else? Agent what does a sale's agent receive authority for? to sell An insurance agent receives authority to what? Settle claims brought against the insurer How do agents receive their authority? written contract What is the power to bind? 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 do -even if insure makes mistakes, the insurer may hav...

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...

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...

What are the four requirements of a legally binding contract? - ANSWER Agreement, consideration, competent parties, legal purpose Jim applied for a homeowners policy with his agent, who gave him immediate temporary coverage. However, after checking Jim's background information, his agent discovers that Jim has been convicted of arson, so she declines his application. Which of the following best describes Jim's failure to mention his conviction during the application process? - ANSWER Co...