Louisiana P&C Adjuster Exam Prep questions with correct answers

The one who receives the authority to act on behalf of someone else? CORRECT ANS Agent what does a sale's agent receive authority for? CORRECT ANS to sell An insurance agent receives authority to what? CORRECT ANS Settle claims brought against the insurer How do agents receive their authority? CORRECT ANS written contract What is the power to bind? CORRECT ANS an agent's authority can bind: -what an agent says or does can bind insurer -agents should take the utmost care in what they say or do -even if insure makes mistakes, the insurer may have to accept them What are the three major responsibilities of contracted agents? CORRECT ANS 1. adhere to or follow contract 2. use reasonable judgement and care at all times 3. provide all necessary info and documentation to the insurer What are the three types of authority granted in agency relationship? CORRECT ANS expressed, implied, apparent What is expressed authority? CORRECT ANS authority that is directly granted to the agent in writing via the agent's contract (usually to sell policies, collect premiums, issue binders, offer discounts, cancel insurance)