Property and Casualty Exam Louisiana Insurance Agent Test Review Correct 100%(SCORED A)

All of the following situations would be covered under a professional liability policy - ANSWERSAn 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 - ANSWERSIntentional breach of duty would not be covered An insured owns a large dog. The first day he has to leave the dog home alone to go to work, the insured comes back to find his $400 couch torn apart, his $100 coffee table chewed up, his $50 window curtain shredded, and a $200 window pane shattered where his dog jumped through. The insured has personal property coverage under a special form dwelling policy. How much of this loss will the policy cover? - ANSWERS$0 Damage that results from domestic animals - ANSWERSis excluded under the special form dwelling policy What is the basic limit for costs incurred at the place a vehicle is disabled provided by the towing and labor costs endorsement? - ANSWERS$25 The towing and labor costs endorsement - ANSWERSprovides a basic limit of $25 for towing and labor costs incurred at the place a vehicle is disabled. Higher limits are available for an additional premium Which of the following is NOT consideration on the part of an insured? - ANSWERSPromise to submit timely claims The binding force in any contract is - ANSWERSconsideration Consideration on the part of the insured is - ANSWERSthe payment of premiums and the health representations made in the application. Consideration on the part of the insurer is - ANSWERSthe promise to pay in the event of loss