LOUISIANA PROPERTY AND
CASUALTY EXAM 2024 ACTUAL
EXAM COMPLETE 450 QUESTIONS
WITH DETAILED VERIFIED
ANSWERS / ALREADY GRADED A+
When an insured purchased his home 10 years ago
for $80,000 it had a replacement cost of $100,000.
Today the home has a replacement cost of $200,000
and it has depreciated by 4% each year. The
insured's home has an ACV of: - ....ANSWER...
• - ....ANSWER...$120,000
($200,000 - (200,000 x .04%) x 10yrs = 120,000 -
....ANSWER...
,An insured was judged at fault in an automobile
accident. He has the 100/300 bodily injury liability
coverage. Three other individuals were injured in the
vehicle by the insured. They were awarded damages
of $150,000, $75,000, and $75,000. What amount, if
any, was not covered by his insurance policy? -
....ANSWER...
• - ....ANSWER...$50,000 (most any one individual can
be awarded is $100,000)
A driver who has an auto policy with limits of liability
lower than those required by state law would be
considered? - ....ANSWER...
• - ....ANSWER...An uninsured motorist
If a car is stolen and left in a snow bank and the
radiator freezes and does a lot of damage, is the
damage covered by the auto policy? - ....ANSWER...
• - ....ANSWER...Yes, freezing exclusion is removed if
the car is stolen
,Supplementary payments under the personal auto
policy include all of the following EXCEPT: -
....ANSWER...
• - ....ANSWER...Unlimited cost of bail bonds (BB limit
is $250)
A stock insurer is defined as an insurer: -
....ANSWER...
• - ....ANSWER...Owned by its stockholder
What does the application of contract of adhesion
mean? - ....ANSWER...
• - ....ANSWER...Since the insured does not
participate in preparing the contract, any ambiguities
would be resolved in favor of the insured
What kind of coverage does a DP-3 form provide? -
....ANSWER...
• - ....ANSWER...Open peril
, What is the purpose of the Terrorism Risk Insurance
Act? - ....ANSWER...
• - ....ANSWER...To share the risk of loss from
terrorist attacks with the insurance industry
Which of the following would NOT generally be
included in the supplementary payments portion of a
liability policy? - ....ANSWER...
• - ....ANSWER...Damage to property owned by the
insured
Anthony has insured his dwelling under two fire
polices. If Anthony suffers a fire loss, what provision
in the polices will prevent Anthony from collecting
more than the actual amount of the fire damage? -
....ANSWER...
• - ....ANSWER...Apportionment clause
What is an insured contract? - ....ANSWER...
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