Louisiana Property & Casualty Insurance Course Exam with Complete Solutions

Which One Of The Following Is NOT A Possible Defense Against Negligence? A. Statue Of Limitations B. Doctrine Of Reasonable Expectation C. Intervening Cause D. Comparative Negligence - ANSWER-Doctrine Of Reasonable Expectation What Is A Hazard? - ANSWER-An Increase In The Possibility That A Loss Might Occur. The Purpose Of Insurance Is To____________ - ANSWER-Transfer Risk From A Person, Business Or Organization To An Insurance Company. The Type Of Insurance Company In Which The Policyholder Is Considered An Owner, With The Right To Vote And Share Profits, Is A________ - ANSWER-Mutual Company The Renewal Fee For A Louisiana Producer License Is________ - ANSWER-$50 The Federal Law That Says The Federal Government Can Only Regulate Insurance Companies To The Extent They Are Not Regulated By The State Law Is________ - ANSWER-McCarran-Ferguson Act An Insurance Policy Is Prepared By The Insurance Company, With Little Or No Input From The Insured. This Means That An Insurance Policy Is A/An________ - ANSWER-Adhesion Contract An Individual Who Owns And Lives In A Condominium Can Obtain Broad Coverage For Personal Property In The Condo Under Which Homeowners Form? - ANSWER-HO-6 What Rating Method Involves Modifying The Premium Based On The Insured's Loss Experience Over A Specific Period Of Time? - ANSWER