Louisiana Property and Casualty Exam |Questions
with Complete Solutions| Verified Answers
The property valuation method paying the full policy amount listed on the declaration page in
the event of a total loss, regardless of the actual cash value is - ✔✔A) replacement value
B) Stated amount
C) Market value
D) Valued policy ***
What is another word for risk?
A) peril
B) Hazard
C) Exposure
D) Vice - ✔✔Exposure*
Which losses would NOT be covered by the Medical Payments section of a homeowners policy?
- ✔✔A) funeral bills
B) dental bills
C) Medical bills incurred 2 years following the accident
D) Pain and suffering***
Which of the following losses is covered under Coverage A Dwelling? - ✔✔A) Vehicle damage
to fence
B) Wind damage to detached garage
C) lightning strike on home's chimney ***
D) Paint spilled on living room couch
,The automatic increase in insurance endorsement under a dwelling policy provided annual
increases to the limits of which coverages by a percentage shown in the declarations? -
✔✔A) Coverage A- Dwelling and Trees, Shrubs, and Other Plants Coverage
B) Coverage A- Dwelling and Coverage B - Other Structures ***
C) Coverage B- Other structure and debris removal
D) Coverage C- Personal property and coverage D- Fair rental value
All of the following are used by courts to establish negligence EXCEPT - ✔✔policy exclusions
Ambiguities in property and casualty contract are resolved in favor of the policy owner because
an insurance policy is - ✔✔A contract of adhesion
A personal injury endorsement added to a homeowner policy provides coverage for liability
caused by the insured - ✔✔Intermittently entering his tenants apartment to see if the tenant
harboring a cat, which violates the tenants lease
Which of the following is eligible for a dwelling property policy? - ✔✔A) A two family house
with a candy store on the first floor
B) A small five unit apartment building used strictly as a residence
C) a mountain vacation house used mostly in the summer and some weekends ****
D) A motor home being used as a permanent residence
Which liability is covered by a commercial general liability policy? - ✔✔A) Employee Injury
Liability
B) Commercial Auto Liability
C) Professional Liability
D) Contractual Liability***
, Under Tina's Personal Auto policy, who would NOT be considered a "family member" - ✔✔A)
Tina's son living at home
B) Tina's daughter away at college
C) A foster child living in Tina's home
D) Tina's Mom living in her own house****
Who may bring a civil action in the appropriate United States district court against any person
engaging in conduct constituting an offense under Section 1033? - ✔✔Attorney General
What must a business do to enjoy the benefits of the additional coverage under the Building
and Business personal property coverage form of a commercial property policy? -
✔✔Nothing, they are automatic
What is the primary intent of homeowners Medical payments coverage? - ✔✔To avoid
lawsuits
Which of the following created the national flood insurance program? - ✔✔US Congress
A jewelry store has a commercial generality liability policy written on a claims made basis with a
renewal date of January 1st. A shopper trips, falls and injures herself on December 28, 2012 and
submits a claim on January 4, 2013. Assuming a retroactive date of January 1, 2010, which
policy will pay the claim? - ✔✔2013 policy
Under a commercial property policy, which endorsements is used to provide coverage based on
actual inventory values at certain locations at specific times? - ✔✔Value reporting form
Which business would not be eligible for a business owners policy? - ✔✔A) beauty parlor
B) coffee shop
C) credit union***
D) dry cleaners
with Complete Solutions| Verified Answers
The property valuation method paying the full policy amount listed on the declaration page in
the event of a total loss, regardless of the actual cash value is - ✔✔A) replacement value
B) Stated amount
C) Market value
D) Valued policy ***
What is another word for risk?
A) peril
B) Hazard
C) Exposure
D) Vice - ✔✔Exposure*
Which losses would NOT be covered by the Medical Payments section of a homeowners policy?
- ✔✔A) funeral bills
B) dental bills
C) Medical bills incurred 2 years following the accident
D) Pain and suffering***
Which of the following losses is covered under Coverage A Dwelling? - ✔✔A) Vehicle damage
to fence
B) Wind damage to detached garage
C) lightning strike on home's chimney ***
D) Paint spilled on living room couch
,The automatic increase in insurance endorsement under a dwelling policy provided annual
increases to the limits of which coverages by a percentage shown in the declarations? -
✔✔A) Coverage A- Dwelling and Trees, Shrubs, and Other Plants Coverage
B) Coverage A- Dwelling and Coverage B - Other Structures ***
C) Coverage B- Other structure and debris removal
D) Coverage C- Personal property and coverage D- Fair rental value
All of the following are used by courts to establish negligence EXCEPT - ✔✔policy exclusions
Ambiguities in property and casualty contract are resolved in favor of the policy owner because
an insurance policy is - ✔✔A contract of adhesion
A personal injury endorsement added to a homeowner policy provides coverage for liability
caused by the insured - ✔✔Intermittently entering his tenants apartment to see if the tenant
harboring a cat, which violates the tenants lease
Which of the following is eligible for a dwelling property policy? - ✔✔A) A two family house
with a candy store on the first floor
B) A small five unit apartment building used strictly as a residence
C) a mountain vacation house used mostly in the summer and some weekends ****
D) A motor home being used as a permanent residence
Which liability is covered by a commercial general liability policy? - ✔✔A) Employee Injury
Liability
B) Commercial Auto Liability
C) Professional Liability
D) Contractual Liability***
, Under Tina's Personal Auto policy, who would NOT be considered a "family member" - ✔✔A)
Tina's son living at home
B) Tina's daughter away at college
C) A foster child living in Tina's home
D) Tina's Mom living in her own house****
Who may bring a civil action in the appropriate United States district court against any person
engaging in conduct constituting an offense under Section 1033? - ✔✔Attorney General
What must a business do to enjoy the benefits of the additional coverage under the Building
and Business personal property coverage form of a commercial property policy? -
✔✔Nothing, they are automatic
What is the primary intent of homeowners Medical payments coverage? - ✔✔To avoid
lawsuits
Which of the following created the national flood insurance program? - ✔✔US Congress
A jewelry store has a commercial generality liability policy written on a claims made basis with a
renewal date of January 1st. A shopper trips, falls and injures herself on December 28, 2012 and
submits a claim on January 4, 2013. Assuming a retroactive date of January 1, 2010, which
policy will pay the claim? - ✔✔2013 policy
Under a commercial property policy, which endorsements is used to provide coverage based on
actual inventory values at certain locations at specific times? - ✔✔Value reporting form
Which business would not be eligible for a business owners policy? - ✔✔A) beauty parlor
B) coffee shop
C) credit union***
D) dry cleaners
