Louisiana P&C Insurance Exam Correct Questions
With Complete Answers 2025
/Commissioner's term of office - Answer-4 years
/.Commissioners will examine each insurer - Answer-5 years
/.Time to conduct a hearing - Answer-30 days
/.Age to apply for producer's license - Answer-18 years old
/.Producer license valid for how long - Answer-2 years
/.How long to file notice of appointment with Commissioner - Answer-15 days
/.How long for commissioner to determine whether producer is suitable for appointment
- Answer-30 days
/.How long for Commissioner to inform insurer that producer is ineligible for appointment
- Answer-15 days
/.How long to notify Commissioner of termination of appointment - Answer-30 days
/.Temporary license period - Answer-180 days
/.CE required for insurance producers every 2 years - Answer-24 hours
/.CE that must be about ethics - Answer-3 hours
/.Maximum amount of business that can be attributed to controlled business - Answer-
25%
/.Time to report change of home or business address - Answer-10 days
/.Time to report administrative action or conviction - Answer-30 days
/.Fine for using an unapproved name - Answer-$250
/.Fine for repeated violations of the approved name regulation - Answer-$5,000
/.Fine for unintentional violations of Insurance Code - Answer-$1,000
/.Aggregate fine for unintentional violations of Insurance Code - Answer-$100,000
, /.Fine per violation for willful violations of Insurance Code - Answer-$25,000
/.Maximum fine for all willful violations of Insurance Code within a 6-month period -
Answer-$250,000
/.HO policy Coverage A percentage - Answer-100%
/.HO policy Coverage B percentage - Answer-10% of coverage A
/.HO policy Coverage C percentage - Answer-50% of coverage A
/.HO policy Coverage D percentage - Answer-20% of coverage A
/.HO policy Coverage for contents away from premises - Answer-10% of coverage C
/.Pro-rate (pro-rata) cancellation - Answer-When insurer cancels. 100% refund of
unearned premium.
/.Short Rate cancellation - Answer-When insured cancels. Refund of most of unearned
premium, less fee.
/.CRIME:
These 5 are NOT classified as employees - Answer-Agents, brokers, factors,
commission merchants, independent contractor
/.Section I of Homeowners is what type of coverage - Answer-Property
/.Section II of Homeowners is what type of coverage - Answer-Liability
/.What is the major difference between HO and DP policies - Answer-Homeowners
includes liability and theft
/.What is the HO coverage C limit for trailers - Answer-$1,500
/.What is the HO coverage C limit for theft of jewelry, furs, (semi)precious stones -
Answer-$1,500
/.What is the HO coverage C limit for theft of firearms - Answer-$2,500
/.What is the HO coverage C limit for theft of silver(plated)ware and gold (plated) ware -
Answer-$2,500
/.Utility Services - Time Element - Answer-Coverage for lost income due to interruption
of communication, power, and water services caused by damage from a covered cause
(such as a fire or windstorm) to property away from your insured premises.
With Complete Answers 2025
/Commissioner's term of office - Answer-4 years
/.Commissioners will examine each insurer - Answer-5 years
/.Time to conduct a hearing - Answer-30 days
/.Age to apply for producer's license - Answer-18 years old
/.Producer license valid for how long - Answer-2 years
/.How long to file notice of appointment with Commissioner - Answer-15 days
/.How long for commissioner to determine whether producer is suitable for appointment
- Answer-30 days
/.How long for Commissioner to inform insurer that producer is ineligible for appointment
- Answer-15 days
/.How long to notify Commissioner of termination of appointment - Answer-30 days
/.Temporary license period - Answer-180 days
/.CE required for insurance producers every 2 years - Answer-24 hours
/.CE that must be about ethics - Answer-3 hours
/.Maximum amount of business that can be attributed to controlled business - Answer-
25%
/.Time to report change of home or business address - Answer-10 days
/.Time to report administrative action or conviction - Answer-30 days
/.Fine for using an unapproved name - Answer-$250
/.Fine for repeated violations of the approved name regulation - Answer-$5,000
/.Fine for unintentional violations of Insurance Code - Answer-$1,000
/.Aggregate fine for unintentional violations of Insurance Code - Answer-$100,000
, /.Fine per violation for willful violations of Insurance Code - Answer-$25,000
/.Maximum fine for all willful violations of Insurance Code within a 6-month period -
Answer-$250,000
/.HO policy Coverage A percentage - Answer-100%
/.HO policy Coverage B percentage - Answer-10% of coverage A
/.HO policy Coverage C percentage - Answer-50% of coverage A
/.HO policy Coverage D percentage - Answer-20% of coverage A
/.HO policy Coverage for contents away from premises - Answer-10% of coverage C
/.Pro-rate (pro-rata) cancellation - Answer-When insurer cancels. 100% refund of
unearned premium.
/.Short Rate cancellation - Answer-When insured cancels. Refund of most of unearned
premium, less fee.
/.CRIME:
These 5 are NOT classified as employees - Answer-Agents, brokers, factors,
commission merchants, independent contractor
/.Section I of Homeowners is what type of coverage - Answer-Property
/.Section II of Homeowners is what type of coverage - Answer-Liability
/.What is the major difference between HO and DP policies - Answer-Homeowners
includes liability and theft
/.What is the HO coverage C limit for trailers - Answer-$1,500
/.What is the HO coverage C limit for theft of jewelry, furs, (semi)precious stones -
Answer-$1,500
/.What is the HO coverage C limit for theft of firearms - Answer-$2,500
/.What is the HO coverage C limit for theft of silver(plated)ware and gold (plated) ware -
Answer-$2,500
/.Utility Services - Time Element - Answer-Coverage for lost income due to interruption
of communication, power, and water services caused by damage from a covered cause
(such as a fire or windstorm) to property away from your insured premises.
