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LA Claims Adjuster Property and Causality Exam (Louisiana Adjuster Law) exam questions with verified answers
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Resident License - Answer- Before issuing a claims adjuster license to an applicant under this section the commissioner of insurance must find that the applicant is eligiable 
 
-designate LA as his or her home state or is a non-resident eligible for a license resident 
-Has not committed any act that is ground for denial, suspension, or revocation 
-has paid required fees 
-Maintains an office in home state 
-Has written consent of commission or insurance pursuant to federal laws regulating cr...
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General Insurance Property & Causality Louisiana exam questions and 100% correct answers
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The owner of a small business applies for a fire insurance policy with limits equal to 100% of the property's value. The owner has huge unsold inventories and a large personal gambling debt. From an underwriting standpoint, this might indicate - Answer-A moral hazard 
 
Which of the following best describes an insurance company that has been formed under the laws of this state? - Answer-Domestic 
 
Which are the following are the authorities that an agent can hold? - Answer-Expressed and Implie...
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Exam Fx property and casualty exam questions and answers (Rated A+ latest 2023)
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1. In dwelling policies, automatic increase in insurance is 
 
 
(Choose from the following options) 
1. Coverage for newly acquired property. 
2. Coverage by endorsement. 
3. Automatic coverage. 
4. Coverage without additional premium. - Answer-2. Coverage by endorsement. 
 
2. Personal business property out in the open is covered under Commercial Property Policy only while 
 
 
(Choose from the following options) 
1. Within 150 feet of the described premises. 
2. Within 100 feet of the des...
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Exam FX Louisiana Property commercial exam questions with verified answers
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Which policy consists of the Declarations and Conditions, Endorsements, and other attachments applicable to a single line of insurance? 
 
(a) Commercial Package 
(b) Monoline 
(c) Insurance 
(d) Casualty - Answer- (b) Monoline 
 
A Monoline Policy contains only one coverage part 
 
page 72 
 
A Commercial Package Policy (CPP) allows the insured to select the coverage needed and customize the policy to meet the needs of the insured's business. In a CPP, the business owner may select from al...
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Exam Fx Chapter 2 - Property and Casualty Insurance Basics Exam Questions with And Answers
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Financial (monetary interest) 
Blood (a relative) 
Business (a business partner) - Answer- 3 elements of insurable risk 
 
at the time of the loss - Answer- In property and casualty insurance, insurable interest must exist __ ___ ____ __ ___ ____ 
 
insured - Answer- anyone who is covered under the policy, whether named or not 
 
named insured - Answer- the individual whose name appears on the policy's declaration 
 
first named insured - Answer- the individual whose name appears first on the p...
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Chapter 1 Louisiana insurance Regulation exam questions with complete Solutions
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Individual Producer - Answer-an individual producer is a person licensed to quote insurance policies, market and sell insurance products and consult other with regard to insurance. 
18 years or older 
reside in or work from an office located tin Louisiana 
Completer re licensing education 
paid their fee and submitted application 
pass exam 70% or more 
 
Term and Renewal - Answer-to maintain your license every licensee must complete a certain number of hours in CE maintain conduct ans send rene...
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Auto Insurance Snapshot Questions Louisiana Quiz Questions And correct answers
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What types of vehicles are covered under a personal auto policy? - Answer-The following vehicles are covered under a personal auto policy : any vehicle listed on the declaration page; newly acquired vehicles for 30 days; trailers owned by the insured; and temporary substitute vehicles. 
 
Define a newly acquired auto. - Answer-Any vehicle acquired by the insured during the policy period. 
 
Give an example of a non owned auto. - Answer-A nonowned auto is any private passenger auto , pickup, van,...
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LOUISIANA P&C STATE EXAMINATION QUESTIONS WITH CORRECT ANSWERS
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A business entity acting as a claims adjuster is required to obtain a claims adjuster license. 
 
Application shall be made using what application? - Answer-Uniform business entity application 
 
These required steps below represent what type of adjustor's license application? 
 
* *An adjuster seeking what type of License** 
 
(1) Is eligible to designate this state as his home state or is a nonresident who is not eligible for a license 
 
(2) Has not committed any act that is a ground for ...
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Louisiana Personal Lines exam questions with answers
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The insurer's duty to defend the insured, as provided by Section II of a Homeowners policy, ends: 
 
A) When the insured admits they were negligent 
B) When the damages awarded against the insured exhaust the personal liability limit 
C) If the insured becomes bankrupt or insolvent 
D) If the claim is groundless - Answer-When the damages awarded against the insured exhaust the personal liability limit 
 
Reasoning: Once the Coverage E limit is exhausted by the payment of damages for bodily inju...
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Louisiana Pre-Licensing for Property and Casualty Insurance Chapter 2 Property and Casualty Insurance Basics Notes exam questions
- Exam (elaborations) • 28 pages • 2024
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Depreciation - Answer-reduction in value, particularly due to wear and tear 
 
Earned premium - Answer-the portion of premium paid in advance that now belongs to the insurer because it applies to the elapsed part of the policy 
 
Exposure units - Answer-used as a measure of the rating units or the premium base of a risk (exposure units multiplied by the rate results in the premium) 
 
Homogeneity - Answer-the degree to which items are similar 
 
Implied warranty - Answer-a legal term meaning tha...
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