100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Louisiana Property and Casualty Insurance Exam |LATEST VERSION |NEW UPDATE |GUARANTEED PASS| |BEST STUDYING MATERIAL WITH 100 QUESTIONS$25.99
Add to cart
Louisiana Property and Casualty Insurance
Exam |LATEST VERSION |NEW UPDATE
|GUARANTEED PASS|2024-2025 |BEST
STUDYING MATERIAL WITH 100 QUESTIONS
What provision in a property policy applies when the insurer broadens coverage
but does not increase the premium?
a) Liberalization clause
b) Insuring clause
c) Appraisal clause
d) Subrogation clause
- ANSWER a) Liberalization clause
The liberalization clause extends broader coverages to current policies if they do
not affect the premium. A modifying endorsement is not required to add such
coverage
What type of coverage is Coverage E in homeowners policies?
a) Personal liability
b) Additional coverage
c) Loss of use
d) Personal property
- ANSWER a) Personal liability
,Coverage E is a personal liability coverage.
Which policy consists of the declarations and conditions, endorsements, and other
attachments applicable to a single line of insurance?
(Choose from the following options)
1. Casualty
2. Commercial package
3. Monoline
4. Insurance
- ANSWER 3. Monoline
Which of the following statements is NOT true regarding mobile agricultural
machinery and equipment coverage?
(Choose from the following options)
1. It relates to devices used in the everyday farm operation.
2. It covers detached parts and accessories of mobile devices.
3. It insures eligible equipment for open perils.
4. This coverage must be written as part of farm coverage.
- ANSWER 4. This coverage must be written as part of farm coverage
,A deli owner has a businessowners liability policy. When a customer slipped and
hurt herself at the deli, the liability policy paid for medical expenses. The
customer, however, is now suing the business owner because she claims there
was no caution sign warning her that the floor was wet. What is the insurer
obligated to do?
(Choose from the following options)
1. Automatically renew the owner's policy, but they have nothing to do with the
lawsuit
2. Provide legal aid to the elderly woman suing the policyowner
3. Nothing, they have paid the claim and their responsibility ends there.
4. Pay to defend the policyowner in the lawsuit because liability coverage
contains a duty-to-defend provision
- ANSWER 4. Pay to defend the policyowner in the lawsuit because liability
coverage contains a duty-to-defend provision
Which of the following best describes the aleatory nature of an insurance
contract?
(Choose from the following options)
1. Ambiguities are interpreted in favor of the insured
2. Policies are submitted to the insurer on a take-it-or-leave-it basis
3. Exchange of unequal values
4. Only one of the parties being legally bound by the contract
, - ANSWER 3. Exchange of unequal values
Under Crime Coverage Form I - Lessees of Safe Deposit Boxes, securities are only
covered in the event of
a) Robbery
b) Vandalism
c) Burglary
d) Theft
- ANSWER d) Theft
Securities are only covered for theft, disappearance or destruction
What is surplus lines insurance?
a) Any insurance on items worth more than $25,000
b) Insurance in excess of a standard policy's coverage
c) Insurance placed with an unauthorized insurer
d) Additional insurance placed on itemized risks
- ANSWER c) Insurance placed with an unauthorized insurer
Insurance obtained from or placed with an unauthorized insurer is surplus lines
insurance.
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 qualityexamshut. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $25.99. You're not tied to anything after your purchase.
