Exam (elaborations)
Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+
- Course
- Institution
Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+
[Show more]
Content preview
Louisiana Property and CasualtyInsurance Practice Quiz
180 days - ANSThe maximum term a temporary license may be issued for is
32 - ANSContinuing Education hours for a producer holding both a L&H and a P&C is
every odd numbered year - ANSProperty & Casualty licenses must be renewed
$25,000 - ANSWhat is the maximum fine that may be imposed for a willful violation of a cease
and desist order issued by the commissioner?
April 30th of odd years - ANSP&C producers license expires on
Must reside or maintain a principal place of business in Louisiana - ANSA resident producer
18 years old - ANSApplicants for licensure MUST be:
180 - ANSThe Commissioner of Insurance may issue a temporary license for period NOT TO
EXCEED _______ days without requiring examination.
10 days of the change - ANSEvery insurance licensee MUST notify the Commissioner of any
alteration in his or her residence or business address within_____
Elected - ANSThe Louisiana Insurance Commissioner is___
4 Years - ANSThe Insurance Commissioner's term of office is___
Chief Deputy Commissioner - ANSIf the Insurance Commissioner becomes incapacitated, the
commissioner's powers will be exercised by the ____
Certificate of Authority - ANSBefore a Domestic insurance company can transact insurance in
Louisiana, it must apply for a _____ which the commissioner will issue if the insurer is qualified
As deemed necessary - ANSIn addition to the minimum examination requirements, the
commissioner may examine insurers as often as__
5 Years - ANSEvery authorized insurer must be examined by the commissioner at least once
every___
, Defamation - ANSPublishing false or maliciously critical material which is derogatory to the
financial condition of an insurer is an illegal practice known as____
Rebating - ANSPromising to return a portion of a premium to a prospective insurance buyer is
an illegal practice known as___
Twisting - ANSPersuading a policyowner to drop a satisfactory policy and replace it with another
is an illegal practice called___
Title 22 - ANSThe Louisiana Insurance Code is called:
A) Misrepresentation of pertinent facts of a policy
B) Failing to promptly acknowledge, settle a claim, or provide a reasonable explanation for
denial.
C) Filling a Fraudulent claim.
D) Attempting to settle a claim for less than the amount entitled in insured's policy.
Answer: C - ANSALL are Unfair Claims Settlement Practices EXCEPT:
This is illegal and Judy could spend time in prison - ANSRon is a licensed real estate agent. He
receives a portion of the commission of every client he brings to Judy, a licensed insurance
producer:
B) Controlled Business - ANSALL of the following are Unfair Trade Practices EXCEPT:
A) Rebating
B) Controlled Business
C) Unfair Discrimination
D) Twisting
A) Gramm-Leach Bliley Act - ANSFederal Legislation that requires companies to give
consumers privacy notices that explain the institutions' information-sharing practices and
policies is known as:
A) Gramm-Leach Bliley Act
B) Title 22
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Ashley96. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
71498 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now