LOUISIANA PROPERTY AND CASUALTY
EXAM ACTUAL EXAM COMPLETE 400
QUESTIONS AND DETAILED ANSWERS
RATED A | BRAND NEW!!!
An insured suffers a windstorm loss in which the insured's
driveway is blocked by two of the insured's trees and two of the
neighbor's trees. The total amount of the removal adds up to
the following: three trees at $300/tree, and one tree at $600.
How much will the insurer pay for the loss?
$1,000 (pay attention to max coverage limit)
A policy holder has an equipment breakdown policy with a
$200,000 limit. If a boiler explosion causes $100,000 damage to
the boiler itself, $50,000 damage to the insured's building, and
$30,000 of expediting expenses, how much will the insured
collect under the policy?
$175,000 (expediting cannot exceed $25K)
,A producer's license has been revoked a second time for
violating the Insurance Code. When can the producer apply for
a new license?
After the revocation period
What insurance policy provision defines how the policy will
respond if there is more than one insurance policy written on
the same risk?
Other insurance
An insured has a homeowner's policy and is required to be a
member of the homeowners association in her neighborhood.
The association community house has burned down, and the
insured has been assessed $1200 for her share of the rebuilding
cost. How much of the assessment will her homeowner's policy
pay?
$1,000
,An insured's business is damaged because of a fire, and he is
forced to close the business temporarily for repairs. AS a result,
the insured lost income. What type of loss is this?
Consequential
What is the purpose of the coinsurance clause found in
property insurance policies?
Encourage the insured to insure the property closer to its full
value
In the event of a loss covered by the policy, if the insurer
requests a signed sworn proof of loss, the named insured is
required to submit it within:
A specified time (usually 60 days...but may vary)
Which of the following statements would be an example of a
product's liability claim?
, Faulty packaging of a cereal caused spoilage that resulted in
someone getting sick
In the personal auto policy, owned trailers being towed by an
insured auto are automatically covered for:
Uninsured motorist coverage
Under which type of coverage does the insurer agree to pay for
bodily injury or property liability which the insured has agreed
to assume under a written contractual agreement?
Contractual liability policy
If an insured is in the process of moving to a new location, his
personal property coverage under the dwelling policy will apply
on a pro rata basis at both locations for:
30 days
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