LOUISIANA P&C INSURANCE EXAM
Commissioner's term of office - Answers :4 years
Commissioners will examine each insurer - Answers :5 years
Time to conduct a hearing - Answers :30 days
Age to apply for producer's license - Answers :18 years old
Producer license valid for how long - Answers :2 years
How long to file notice of appointment with Commissioner - Answers :15 days
How long for commissioner to determine whether producer is suitable for appointment -
Answers :30 days
How long for Commissioner to inform insurer that producer is ineligible for appointment -
Answers :15 days
How long to notify Commissioner of termination of appointment - Answers :30 days
Temporary license period - Answers :180 days
CE required for insurance producers every 2 years - Answers :24 hours
CE that must be about ethics - Answers :3 hours
Maximum amount of business that can be attributed to controlled business - Answers
:25%
Time to report change of home or business address - Answers :10 days
Time to report administrative action or conviction - Answers :30 days
Fine for using an unapproved name - Answers :$250
Fine for repeated violations of the approved name regulation - Answers :$5,000
Fine for unintentional violations of Insurance Code - Answers :$1,000
Aggregate fine for unintentional violations of Insurance Code - Answers :$100,000
Fine per violation for willful violations of Insurance Code - Answers :$25,000
, Maximum fine for all willful violations of Insurance Code within a 6-month period -
Answers :$250,000
HO policy Coverage A percentage - Answers :100%
HO policy Coverage B percentage - Answers :10% of coverage A
HO policy Coverage C percentage - Answers :50% of coverage A
HO policy Coverage D percentage - Answers :20% of coverage A
HO policy Coverage for contents away from premises - Answers :10% of coverage C
Pro-rate (pro-rata) cancellation - Answers :When insurer cancels. 100% refund of
unearned premium.
Short Rate cancellation - Answers :When insured cancels. Refund of most of unearned
premium, less fee.
CRIME:
These 5 are NOT classified as employees - Answers :Agents, brokers, factors,
commission merchants, independent contractor
Section I of Homeowners is what type of coverage - Answers :Property
Section II of Homeowners is what type of coverage - Answers :Liability
What is the major difference between HO and DP policies - Answers :Homeowners
includes liability and theft
What is the HO coverage C limit for trailers - Answers :$1,500
What is the HO coverage C limit for theft of jewelry, furs, (semi)precious stones -
Answers :$1,500
What is the HO coverage C limit for theft of firearms - Answers :$2,500
What is the HO coverage C limit for theft of silver(plated)ware and gold (plated) ware -
Answers :$2,500
Utility Services - Time Element - Answers :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.
Workers Comp provides what amount for burial? - Answers :$7,500
Commissioner's term of office - Answers :4 years
Commissioners will examine each insurer - Answers :5 years
Time to conduct a hearing - Answers :30 days
Age to apply for producer's license - Answers :18 years old
Producer license valid for how long - Answers :2 years
How long to file notice of appointment with Commissioner - Answers :15 days
How long for commissioner to determine whether producer is suitable for appointment -
Answers :30 days
How long for Commissioner to inform insurer that producer is ineligible for appointment -
Answers :15 days
How long to notify Commissioner of termination of appointment - Answers :30 days
Temporary license period - Answers :180 days
CE required for insurance producers every 2 years - Answers :24 hours
CE that must be about ethics - Answers :3 hours
Maximum amount of business that can be attributed to controlled business - Answers
:25%
Time to report change of home or business address - Answers :10 days
Time to report administrative action or conviction - Answers :30 days
Fine for using an unapproved name - Answers :$250
Fine for repeated violations of the approved name regulation - Answers :$5,000
Fine for unintentional violations of Insurance Code - Answers :$1,000
Aggregate fine for unintentional violations of Insurance Code - Answers :$100,000
Fine per violation for willful violations of Insurance Code - Answers :$25,000
, Maximum fine for all willful violations of Insurance Code within a 6-month period -
Answers :$250,000
HO policy Coverage A percentage - Answers :100%
HO policy Coverage B percentage - Answers :10% of coverage A
HO policy Coverage C percentage - Answers :50% of coverage A
HO policy Coverage D percentage - Answers :20% of coverage A
HO policy Coverage for contents away from premises - Answers :10% of coverage C
Pro-rate (pro-rata) cancellation - Answers :When insurer cancels. 100% refund of
unearned premium.
Short Rate cancellation - Answers :When insured cancels. Refund of most of unearned
premium, less fee.
CRIME:
These 5 are NOT classified as employees - Answers :Agents, brokers, factors,
commission merchants, independent contractor
Section I of Homeowners is what type of coverage - Answers :Property
Section II of Homeowners is what type of coverage - Answers :Liability
What is the major difference between HO and DP policies - Answers :Homeowners
includes liability and theft
What is the HO coverage C limit for trailers - Answers :$1,500
What is the HO coverage C limit for theft of jewelry, furs, (semi)precious stones -
Answers :$1,500
What is the HO coverage C limit for theft of firearms - Answers :$2,500
What is the HO coverage C limit for theft of silver(plated)ware and gold (plated) ware -
Answers :$2,500
Utility Services - Time Element - Answers :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.
Workers Comp provides what amount for burial? - Answers :$7,500
