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Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+
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Louisiana Property and Casualty Insurance Practice Quiz 2023/2024 already graded A+
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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
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