LA Claims Adjuster Property and Causality Practice Exam 2 Correct 100%
4 views 0 purchase
Course
LOUISIANA CLAIM ADJUSTER
Institution
LOUISIANA CLAIM ADJUSTER
A single Declarations page common to all coverages
A single conditions section common to all coverages - ANSWER A commercial package policy always includes
Send the insured a reservation of rights letter - ANSWER If the insured fails to report claim in a timely fashion, the adjuster will immedi...
LA Claims Adjuster Property and
Causality Practice Exam 2 Correct 100%
A single Declarations page common to all coverages
A single conditions section common to all coverages - ANSWER A commercial package
policy always includes
Send the insured a reservation of rights letter - ANSWER If the insured fails to report
claim in a timely fashion, the adjuster will immediately ___
$1000 per person - ANSWER The basic limit for coverage F-medical payments of the
standard homeowners form is normally
$250 - ANSWER The CGL provides up to ___per day for loss of earnings as a
supplementary payment
Was made for the benefit of the insurance company and does not warrant the insureds
compliance with all laws and regulations - ANSWER The insurance company chooses
to inspect the insureds premises, the insurance inspection:
60 days. - ANSWER When is loss payable under LA standard fire policy?
30 days - ANSWER When an insurer has received a completed satisfactory proof of
loss, how many days does the insurer have to pay the loss
expediting expense coverage - ANSWER name the coverage that applies to the extra
cost the insured incurs to make temporary repairs and speed up the permanent repairs
replacement of damage covered equipment under an equipment breakdown policy
Until the repairs are complete and the business re-opens, subject to a 12 consecutive
month limitation - ANSWER How long will the business owner policy pay for the "extra
expense coverage" used to reduce the loss of income when the insured has suffered a
loss from a covered peril
handled as a supplementary payment - ANSWER Typically how are defense cost
handled under aviation policy
additional living expenses is included in this coverage as well as fair rental value -
ANSWER under the HO policy, loss of use would cover what
60 days prior to the effective date - ANSWER Dwelling forms include a liberalization
clause. it says that any revision of coverage which broadens the insurance without an
additional premium charge will be automatically applied to existing policies if the
revision adopted during the policy period or within
,Actual Cash Value - ANSWER Equipment breakdown protection coverage form
normally pays replacement cost unless endorsed to pay ___
Reported within one year of the date of the accident - ANSWER In a CGL policy,
"medical payments" claims must be
defense - ANSWER The policy can not pay more then its limit if liability. Under
supplemental coverages in the policy the policy will pay the __ cost plus the cost of
premiums on appeal bonds and bail bonds
a constructive total loss - ANSWER Describes a situation where a building is not a total
loss but the cost to repair the building is greater then the value of the building
Usually excluded unless the work out of which the damage arose was done by a
subcontractor rather than the insured - ANSWER Property damage to an insured's work
that arises out of the work and its part of the products-completed operations hazard as
defined in a commercial umbrella liability policy
power, light, heat, steam or refrigeration - ANSWER Lack of _____ is not considered a
"breakdown" under equipment breakdown coverage
relocation expenses - ANSWER Claims expenses under section II- personal liabillity of
the homeowner form do not include
set at 50% of coverage A unless a higher limit is requested - ANSWER Under an H)-3,
the limit for coverage C-Personal Property for a one or two family dwelling is
If the insured insures all of their vehicles with the company or it replaces a covered auto
- ANSWER The BAP uses symbol 7 to cover "specifically described autos" identified in
the declarations. An auto acquired the policy period will be covered
real property - ANSWER Louisiana has a valued policy law. The insurer must pay
evaluation limit it computed on the property in issuing the coverage on the ___
All insurances who write property and casualty ins - ANSWER Who must particpate in
FAIR
Profit and loss statement - ANSWER In computing business interruption losses what
most important
Nonconcurrency - ANSWER When different dates creates a situation where the
underlying policy was not in effect at the time of the occurrence therefor cannot trigger
excess liability policy to pay a claim is known as
, 6 month/3 - ANSWER To protect the public, the commissioner may examine a domestic
insurer every___during the first ___years after organization.
at least 10 days written notice when the reason for cancellation is nonpayment premium
- ANSWER In the state of Louisiana, the LA standard fire Ins policy can be cancelled by
the insurer by giving the insured
Claims-made - ANSWER _____ coverage applies only to those claims that occur after
the retroactive date and are "made" during the policy period.
Once the arson investigation has officially concluded - ANSWER In Louisiana, payment
of losses to insured resulting from a suspicious fire must be made ___
To cover property belonging to a contractor or others that is intended to become a part
of a structure. - ANSWER What is the purpose of an installation floater
split limits - ANSWER The auto liability limits $100/300/50 are an example of
A policy where the value is not declared until after the loss - ANSWER What does the
term unvalued basis mean as relates to ocean marine hull insurance
30 days - ANSWER When an insurer has received a completed satisfactory proof of
loss, how many days does the insurer have to pay the loss
$250 - ANSWER uninsured motorist deductible
180 - ANSWER A catastrophe or emergency claims adjuster license in LA will be
effective for a period not to exceed ___days
Refers to the reduction in the value of the stock as a result of damage to other stock -
ANSWER The term undamaged stock as defined in an Equipment Breakdown policy,
applies to which of the following situations?
In dealing with potential coverage dispute - ANSWER When should an adjuster
consider obtaining a non-waiver agreement
elected by the people of LA - ANSWER The LA commissioner od insurance is
personal effects - ANSWER ____is not covered under the aircraft hull insurance
within 30 days of receiving a satisfactory proof of loss - ANSWER When must an insurer
make a written offer to settle a property damage claim
Personal Effects Floater - ANSWER The personal inland marine coverage from that
covers clothing, camera, and other portable property worn or carried by a tourist and
travelers is known as
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 Lecchris. 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.
