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