Exam (elaborations)
Exam FX Louisiana Property commercial exam questions with verified correct answers
- Course
- Institution
Exam FX Louisiana Property commercial exam questions with verified correct answers
[Show more]
Seller
Follow
Rusenna
Reviews received
Content preview
Exam FX Louisiana Property commercialexam questions with verified correct
answers
Which policy consists of the Declarations and Conditions, Endorsements, and other
attachments applicable to a single line of insurance?
(a) Commercial Package
(b) Monoline
(c) Insurance
(d) Casualty - Answer- (b) Monoline
A Monoline Policy contains only one coverage part
page 72
A Commercial Package Policy (CPP) allows the insured to select the coverage needed
and customize the policy to meet the needs of the insured's business. In a CPP, the
business owner may select from all of the following types of coverage EXCEPT:
(a) Crime Coverage
(b) Boiler and Machinery Coverage
(c) General Liability Coverage
(d) Workers Compensation Coverage - Answer- (d) Workers compensation coverage
Workers Compensation is not available through the Commercial Package Policy (CPP).
page 74
Which of the following is NOT found in a commercial package policy?
(a) Common Policy Conditions
(b) Common Policy Declarations
(c) Interline Endorsements
(d) Certificate of Authority - Answer- (d) Certificate of Authority
Regardless of how the policy is written, it will be compromised of the following essential
elements: Declarations Page, Conditions, Interline Endorsements, and Coverage Parts
(Policy Cover)
Page 74
, All of the following are essential elements of a Commercial Package Policy (CPP)
EXCPET
(a) Declarations Page
(b) Policy Conditions
(c)Valuations and/or Settlement Provisions
(d) Interline Endorsements - Answer- (c) Valuations and/or Settlement Provisions
Regardless of how the policy is written, it will be compromised of the following essential
elements: Declarations Page, Conditions, Interline Endorsements, and Coverage Parts
(Policy Cover)
Page 74
The commercial property declarations page contains which of the following information?
(a) Description of the Property Insured
(b) Common Policy Conditions
(c) Interline Endorsements
(d) Cause of Loss Forms - Answer- (a) description of property insured
The Declarations Page provides the information as to who, what, where, and how much.
The Interline Endorsements, Policy Conditions, and Cause of Loss Forms are modular
parts that are combined to create the contract
page 74
A specific coverage part is listed on the Commercial Package Policy (CPP) Declarations
Page, but there is no premium shown. What does that mean?
(a) Coverage is automatic.
(b) There is no coverage.
(c) Coverage applies without premium.
(d) This must be a misprint on the form - Answer- (b) There is no coverage
If no premium amount is shown, there is no coverage for that coverage part
page 74
According to the common policy conditions for a commercial package policy, if the
insured dies, the policy rights and duties...
(a) automatically transfer to a legal representative
(b) transfer to a legal representative after court appointment
(c) die with the insured
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 Rusenna. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76799 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now