Louisiana i - Study guides, Class notes & Summaries

Objectives: ◦ List requirements of obtaining and maintaining a Louisiana Insurance License ◦ Recognize Louisiana laws governing the business of insurance ◦ Name important Federal laws that apply to insurance producers and insurers ◦ Recognize statutory time limits and dollar amounts from Louisiana Insurance Code This topic is 24% of the 150 questions on the P&C Exam CORRECT ANSWER Key Terms: Producer Certificate of Authority Controlled Business Cease & Desist Rebates...

Xcel Final Study Louisiana Lha Insurance Verified Answers "Maximum benefits" refers to the ️upper limit of the total lifetime benefits the insurance company will pay A 10% excise tax is normally applied to an early withdrawal from an IRA. According to HIPAA, this tax will not be applied if the withdrawal is used for medical expenses that exceed ____ of the individual's adjusted gross income. ️7.5% A child's inclusion in a family health insurance policy begins ️at birth A...

All of the following situations would be covered under a professional liability policy correct answers An accountant's error that inflated a bid and caused a client to lose a major account., Negligence of an architect who designed an unsafe building., Failure of a doctor to render the quality of care that is customary in the medical field, .EXCEPT The failure of an attorney to properly defend a client due to his personal dislike of the client Under a professional liability policy correct ans...

All of the following situations would be covered under a professional liability policy An accountant's error that inflated a bid and caused a client to lose a major account., Negligence of an architect who designed an unsafe building., Failure of a doctor to render the quality of care that is customary in the medical field, .EXCEPT The failure of an attorney to properly defend a client due to his personal dislike of the client Under a professional liability policy Intentional breach of duty ...

Lesson 1: Louisiana Insurance Regulation Exam with 100% Correct Answers | Verified | Latest Update 2024

Lender Interest Provisions Protects lender interest by allowing the lender certain rights in the policy. Coinsurance Penalty A property insurance provision that penalizes the insured's loss recovery if the limit of insurance purchased by the insured is not equal to or greater than a specified percentage (commonly 80 percent) of the value of the insured property. Underinsured A situation resulting from a failure to carry enough coverage on the value of a property, especially when there are c...

CONTRACTS - Aleatory Contract - Answer-A contract in which the performance of either party's obligation depends on an uncertain event INSURANCE - Benchmark Rate(s) - Answer-The rate set annually by the Commissioner of Insurance by line, relative to which the flexibility bands and statutory rate limitations apply. INSURANCE - Churning - Answer-Can occur when an agent persuades a consumer to borrow against an existing life insurance policy to pay the premium on a new one. INSURANCE - Div...

Louisiana Insurance Exam questions n answers graded A+ passed

Objectives: ◦ List requirements of obtaining and maintaining a Louisiana Insurance License ◦ Recognize Louisiana laws governing the business of insurance ◦ Name important Federal laws that apply to insurance producers and insurers ◦ Recognize statutory time limits and dollar amounts from Louisiana Insurance Code This topic is 24% of the 150 questions on the P&C Exam - Key Terms: Producer Certificate of Authority Controlled Business Cease & Desist Rebates Investigative Consumer...

Lesson 1: Louisiana Insurance Regulation Exam with 100% Correct Answers | Verified | Latest Update 2024