LA Claims Adjuster Property and Causality Practice Exam 2 | Questions with 100%
Correct Answers | Updated &Verified | 2024-2025 | 100% Score
A single Declarations page common to all coverages
A single conditions section common to all coverages - ✔✔A commercial package policy always includes
Send the insured a reservation of rights letter - ✔✔If the insured fails to report claim in a timely fashion,
the adjuster will immediately ___
$1000 per person - ✔✔The basic limit for coverage F-medical payments of the standard homeowners
form is normally
$250 - ✔✔The CGL provides up to ___per day for loss of earnings as a supplementary payment
Was made for the benefit of the insurance company and does not warrant the insureds compliance with
all laws and regulations - ✔✔The insurance company chooses to inspect the insureds premises, the
insurance inspection:
60 days. - ✔✔When is loss payable under LA standard fire policy?
30 days - ✔✔When an insurer has received a completed satisfactory proof of loss, how many days does
the insurer have to pay the loss
expediting expense coverage - ✔✔name the coverage that applies to the extra cost the insured incurs to
make temporary repairs and speed up the permanent repairs replacement of damage covered
equipment under an equipment breakdown policy
Until the repairs are complete and the business re-opens, subject to a 12 consecutive month limitation -
✔✔How long will the business owner policy pay for the "extra expense coverage" used to reduce the
loss of income when the insured has suffered a loss from a covered peril
,handled as a supplementary payment - ✔✔Typically how are defense cost handled under aviation policy
additional living expenses is included in this coverage as well as fair rental value - ✔✔under the HO
policy, loss of use would cover what
60 days prior to the effective date - ✔✔Dwelling forms include a liberalization clause. it says that any
revision of coverage which broadens the insurance without an additional premium charge will be
automatically applied to existing policies if the revision adopted during the policy period or within
Actual Cash Value - ✔✔Equipment breakdown protection coverage form normally pays replacement
cost unless endorsed to pay ___
accidental shooting of livestock - ✔✔____is covered under the broad dorm farm owners policy but is
not covered under the basic form farm owners policy
24 - ✔✔In keeping with the terms and conditions of the LAW standard Fire Insurance policy an insured
may file suit to recover for a loss only if all policy requirements have been compiled with and only if the
suit is filed within __months of the date of loss
from the time of acquisition and up to 90 days thereafter - ✔✔CGL newly acquired entity how long will
the new entity be automatically considered insured under the current CGL
Reservation of rights letter - ✔✔what does the insurer do when the insured has possibly waived his or
her rights in a liability claim
10 days - ✔✔how much advance notice of a hearing must the LA insurance commissioner give to
affected interested parties
$500 - ✔✔what is the maximum fine for each violates the "immediate contact" rule in LA
Freight Insurance - ✔✔This ocean marine insurance coverage protects the vessel owner in the event
that cargo shipping cost are not paid
, 6 months/ 3 - ✔✔To protect the public, the commissioner may examine a domestic insurer every__
during the first ___years of organization
$25,000 - ✔✔What is the limit that is paid for water damage under equipment breakdown policy
15,000/30,000/25,000 - ✔✔In order to satisfy the motor vehicle safety responsibility law in Louisiana,
what are the required minimum auto limits of liability a person must carry
Garagekeepers Legal Liability - ✔✔What coverage is used to cover the damage to a customers vehicle in
the care of custody of a repair garage.
within 30 days following the receipt of such demand - ✔✔when a hearing is demanded by the
commissioner of insurance in Louisianan, when must such a hearing be held?
Estoppel - ✔✔If an insurance company covered an excluded claim it may have to continue paying other
such claims because of
an NFIP dwelling policy under the regular program - ✔✔NFIP polices is required to include the increased
cost of compliance coverage
Reported within one year of the date of the accident - ✔✔In a CGL policy, "medical payments" claims
must be
defense - ✔✔The policy can not pay more then its limit if liability. Under supplemental coverages in the
policy the policy will pay the __ cost plus the cost of premiums on appeal bonds and bail bonds
a constructive total loss - ✔✔Describes a situation where a building is not a total loss but the cost to
repair the building is greater then the value of the building
Correct Answers | Updated &Verified | 2024-2025 | 100% Score
A single Declarations page common to all coverages
A single conditions section common to all coverages - ✔✔A commercial package policy always includes
Send the insured a reservation of rights letter - ✔✔If the insured fails to report claim in a timely fashion,
the adjuster will immediately ___
$1000 per person - ✔✔The basic limit for coverage F-medical payments of the standard homeowners
form is normally
$250 - ✔✔The CGL provides up to ___per day for loss of earnings as a supplementary payment
Was made for the benefit of the insurance company and does not warrant the insureds compliance with
all laws and regulations - ✔✔The insurance company chooses to inspect the insureds premises, the
insurance inspection:
60 days. - ✔✔When is loss payable under LA standard fire policy?
30 days - ✔✔When an insurer has received a completed satisfactory proof of loss, how many days does
the insurer have to pay the loss
expediting expense coverage - ✔✔name the coverage that applies to the extra cost the insured incurs to
make temporary repairs and speed up the permanent repairs replacement of damage covered
equipment under an equipment breakdown policy
Until the repairs are complete and the business re-opens, subject to a 12 consecutive month limitation -
✔✔How long will the business owner policy pay for the "extra expense coverage" used to reduce the
loss of income when the insured has suffered a loss from a covered peril
,handled as a supplementary payment - ✔✔Typically how are defense cost handled under aviation policy
additional living expenses is included in this coverage as well as fair rental value - ✔✔under the HO
policy, loss of use would cover what
60 days prior to the effective date - ✔✔Dwelling forms include a liberalization clause. it says that any
revision of coverage which broadens the insurance without an additional premium charge will be
automatically applied to existing policies if the revision adopted during the policy period or within
Actual Cash Value - ✔✔Equipment breakdown protection coverage form normally pays replacement
cost unless endorsed to pay ___
accidental shooting of livestock - ✔✔____is covered under the broad dorm farm owners policy but is
not covered under the basic form farm owners policy
24 - ✔✔In keeping with the terms and conditions of the LAW standard Fire Insurance policy an insured
may file suit to recover for a loss only if all policy requirements have been compiled with and only if the
suit is filed within __months of the date of loss
from the time of acquisition and up to 90 days thereafter - ✔✔CGL newly acquired entity how long will
the new entity be automatically considered insured under the current CGL
Reservation of rights letter - ✔✔what does the insurer do when the insured has possibly waived his or
her rights in a liability claim
10 days - ✔✔how much advance notice of a hearing must the LA insurance commissioner give to
affected interested parties
$500 - ✔✔what is the maximum fine for each violates the "immediate contact" rule in LA
Freight Insurance - ✔✔This ocean marine insurance coverage protects the vessel owner in the event
that cargo shipping cost are not paid
, 6 months/ 3 - ✔✔To protect the public, the commissioner may examine a domestic insurer every__
during the first ___years of organization
$25,000 - ✔✔What is the limit that is paid for water damage under equipment breakdown policy
15,000/30,000/25,000 - ✔✔In order to satisfy the motor vehicle safety responsibility law in Louisiana,
what are the required minimum auto limits of liability a person must carry
Garagekeepers Legal Liability - ✔✔What coverage is used to cover the damage to a customers vehicle in
the care of custody of a repair garage.
within 30 days following the receipt of such demand - ✔✔when a hearing is demanded by the
commissioner of insurance in Louisianan, when must such a hearing be held?
Estoppel - ✔✔If an insurance company covered an excluded claim it may have to continue paying other
such claims because of
an NFIP dwelling policy under the regular program - ✔✔NFIP polices is required to include the increased
cost of compliance coverage
Reported within one year of the date of the accident - ✔✔In a CGL policy, "medical payments" claims
must be
defense - ✔✔The policy can not pay more then its limit if liability. Under supplemental coverages in the
policy the policy will pay the __ cost plus the cost of premiums on appeal bonds and bail bonds
a constructive total loss - ✔✔Describes a situation where a building is not a total loss but the cost to
repair the building is greater then the value of the building
