Examfx practice test Exam | 93 Questions with 100% Correct Answers |GRADED

The Louisiana insurance Guaranty Association Board of Directors are placed in office by - CORRECT ANSWER election and appointment States with monopolistic state workers compensation funds - CORRECT ANSWER Do not allow private insurers to be licensed to write workers compensation coverage This state provided for a temporary licenses for all of the following EXCEPT - CORRECT ANSWER A producer's retirement Which of the following producers will be required to complete continuing education hours to renew his license? - CORRECT ANSWER A producer licensed 4 years ago who holds only one line of authority. A producer has been notified by the commissioner to stop using an unapproved trade name. How many days does the producer have to change the trade name before facing a fine? - CORRECT ANSWER 10 days Which of the following is NOT considered a misrepresentation as it pertains to unfair trade practices? - CORRECT ANSWER The Pro rata liability clause is designed to protect the principle of - CORRECT ANSWER Indemnity When a resident producer changes his residence address, the Insurance Department must be notified within - CORRECT ANSWER 30 days A building is insured, but no one has lived or worked in it for 10 years. The building is completely empty of any furniture or personal belongings. From an Insurance standpoint, the building is considered. - CORRECT ANSWER Vacant An insurer publishes intimidating brochures that portray the insurer's competitions as financially and professionally unstable. Which of of the following best describes this act. - CORRECT ANSWER Legal, under any circumstances Which bonds are required by courts whenever someone seeks a court order stating another person must or must not dot something? - CORRECT ANSWER Injunction bond