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Louisiana Property and Casualty Insurance Exam| ACCURATE QUESTIONS AND DETAILED ANSWERS | GUARANTEED PASS | GRADED A | LATEST UPDATE WITH 100 QUESTIONS$25.49
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Louisiana Property and Casualty Insurance Exam| ACCURATE QUESTIONS AND DETAILED ANSWERS | GUARANTEED PASS | GRADED A | LATEST UPDATE WITH 100 QUESTIONS
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Course
Louisiana Property and Casualty Insurance
Institution
Louisiana Property And Casualty Insurance
Louisiana Property and Casualty Insurance
Exam| ACCURATE QUESTIONS AND DETAILED
ANSWERS | GUARANTEED PASS | GRADED A |
LATEST UPDATE WITH 100
QUESTIONS
Louisiana Property and Casualty Insurance
Exam| ACCURATE QUESTIONS AND DETAILED
ANSWERS | GUARANTEED PASS | GRADED A |
LATEST UPDATE 2024-2025 WITH 100
QUESTIONS
The premises liability exposure exists when there is use of the premises.
Operations liability exposure relates to activities in addition to use. Product
liability exposure is the possibility that the public might be injured by the product.
Completed operations liability refers to liability for work already performed or
completed. For a boutique retail store, the only possible liability would arise from
customer injury while on the premises.
All of the following are true of Coverage B - Other Structures EXCEPT
a) It must be added by endorsement to a homeowners policy.
b) This coverage is not applicable on the HO-4 policy form.
c) The amount of coverage provided by Coverage B is an amount equal to 10% of
Coverage A.
d) Land where the other structures are located is not covered.
- ANSWER a) It must be added by endorsement to a homeowners policy.
Homeowners policies automatically provide an amount of insurance in Coverage B
that is equal to 10% of the amount written as Coverage A. This amount may be
increased by endorsement.
,All of the following are supplemental payments included in the liability section of
a personal auto policy EXCEPT
a) Up to $100 for the cost to secure the release of a vehicle from an impoundment
lot following a covered accident.
b) Up to $200 a day for loss of earnings due to attendance at hearings or trials.
c) Premiums on appeal bonds in any suit the insurer defends.
d) Up to $250 for bail bonds required because of a covered accident.
- ANSWER a) Up to $100 for the cost to secure the release of a vehicle from an
impoundment lot following a covered accident.
A personal auto policy does not pay the cost of the release of a vehicle
impounded by a law enforcement agency.
A large antenna is damaged when a tree branch hits an insured farm dwelling
during a storm. Coverage A of a farm property coverage form would insure
damages for this occurrence up to
a) $1,000.
b) $2,000.
c) $3,000.
d) $4,000.
Antennas, towers, and satellite dishes attached to the dwelling are covered under
Coverage A, but have a special limit of insurance of $1,000 in any 1 occurrence. -
ANSWER a) $1,000.
,Antennas, towers, and satellite dishes attached to the dwelling are covered under
Coverage A, but have a special limit of insurance of $1,000 in any 1 occurrence.
Charla wants to serve as a producer for Commissions Galore Insurance Company.
In addition to obtaining her producer's license, what else must happen before she
can officially transact insurance for CGIC?
a) She must submit a list of 5 references to CGIC.
b) She must be appointed by the Commissioner.
c) She must be appointed specifically by CGIC.
d) She must get a certificate of authority.
- ANSWER c) She must be appointed specifically by CGIC.
Before a producer can serve as an agent for a given insurance company, the
producer must first be appointed by the company.
The main difference between an HO-4 and an HO-6 is
a) HO-6 provides limited dwelling coverage as well as contents coverage.
b) HO-4 does not cover additional living expenses.
c) HO-6 does not cover additional living expenses.
d) HO-4 provides limited dwelling coverage as well as contents coverage. -
ANSWER a) HO-6 provides limited dwelling coverage as well as contents coverage.
, HO-4 provides no dwelling coverage because a tenant does not own the dwelling;
the condo owner does own the condo and is provided with coverage for
improvements. Both HO-4 and HO-6 cover theft and additional living expenses.
Which part of an insurance policy covers claims-related expenses, reasonable
expenses incurred by an insured to protect damaged property from further loss,
or defense expenses?
a) Insuring agreement
b) Additional coverage
c) Exclusions
d) Declarations
- ANSWER b) Additional coverage
The additional coverage portion of a policy provides an additional amount of
coverage for specific loss expense, at no additional premium.
Which of the following would not be a violation of Louisiana insurance
regulations?
a) Producer B charges his clients, in addition to the premium, a consulting fee.
b) Producer C uses her license to write uncontrolled business only.
c) Producer D collects premiums due on policies and deposits the funds in his own
personal account.
d) Producer A uses her license to write only insurance for herself and her
immediate family.
- ANSWER b) Producer C uses her license to write uncontrolled business only.
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