Examfx practice test|93 Complete
Questions & Answers
The Louisiana insurance Guaranty Association Board of Directors are placed
in office by - - election and appointment
- States with monopolistic state workers compensation funds - - 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
- - A producer's retirement
- Which of the following producers will be required to complete continuing
education hours to renew his license? - - 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? - - 10 days
- Which of the following is NOT considered a misrepresentation as it pertains
to unfair trade practices? - -
- The Pro rata liability clause is designed to protect the principle of - -
Indemnity
- When a resident producer changes his residence address, the Insurance
Department must be notified within - - 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. - - 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. - - 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? - - Injunction
bond
- In comparison to consumer reports, which of the following describes a
unique characteristic of investigative consumer reports? - - The customer's
associates, friends, and neighbors provide the report's data.
, - An insured relocated to another state for work. However, she still owns and
insurers a house in this state, but has had one living in it for 3 months. She is
also storing some of furniture and clothes in the house. From an insurance
standpoint, the insured's house is considered? - - Unoccupied
- If a farm building or structure is vacant or unoccupied, which is true? - - If
for 120 consecutive days, the limits applicable to the building and its
contents are reduced by 50%
- Which loss listed below would be fully covered by a homeowners policy? -
- $2,000 silver tea set stolen
- A specific coverage part is listed on the commercial package policy
declerations page, but there is no premium shown. What does that mean, - -
There is no coverage.
- With respect to auto insurance, the term owned autos includes all of the
following EXCEPT: - - A pickup or van titled to and used in the named
insured's business
- A deli owner has a businessowners liability policy. When a customer
slipped and hurt herself at the deli, the liability policy paid for medical
expenses. The customer, however, is now suing the business owner because
she claims there was no caution sign warning her that the floor was wet.
What is the insurer obligated to do. - - Pay to defend the policy owner in the
lawsuit because liability coverage contains a duty-to-defend provision
- The part of the policy that sets forth the rules of conduct, duties, and
obligations of the parties is called the - - Conditions
- What type of information would be found in a policy's insuring agreement?
- - Renewal dates
- The commercial general liability coverage form excludes bodily injury or
property damage that the insured has assumed under any contract or
agreement. However, the exclusion does not apply to certain types of
contracts, as long as the injury or damage occurs - - After the execution of
the contract
- A restaurant is out of business for 3 days after an insured's automobile hits
and electrical pole. The pole fails and hits the building, knocking out all
electrical power supply. Which of the following is NOT covered under the
insured driver's auto policy? - - Lost revenues from the restaurant
Questions & Answers
The Louisiana insurance Guaranty Association Board of Directors are placed
in office by - - election and appointment
- States with monopolistic state workers compensation funds - - 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
- - A producer's retirement
- Which of the following producers will be required to complete continuing
education hours to renew his license? - - 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? - - 10 days
- Which of the following is NOT considered a misrepresentation as it pertains
to unfair trade practices? - -
- The Pro rata liability clause is designed to protect the principle of - -
Indemnity
- When a resident producer changes his residence address, the Insurance
Department must be notified within - - 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. - - 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. - - 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? - - Injunction
bond
- In comparison to consumer reports, which of the following describes a
unique characteristic of investigative consumer reports? - - The customer's
associates, friends, and neighbors provide the report's data.
, - An insured relocated to another state for work. However, she still owns and
insurers a house in this state, but has had one living in it for 3 months. She is
also storing some of furniture and clothes in the house. From an insurance
standpoint, the insured's house is considered? - - Unoccupied
- If a farm building or structure is vacant or unoccupied, which is true? - - If
for 120 consecutive days, the limits applicable to the building and its
contents are reduced by 50%
- Which loss listed below would be fully covered by a homeowners policy? -
- $2,000 silver tea set stolen
- A specific coverage part is listed on the commercial package policy
declerations page, but there is no premium shown. What does that mean, - -
There is no coverage.
- With respect to auto insurance, the term owned autos includes all of the
following EXCEPT: - - A pickup or van titled to and used in the named
insured's business
- A deli owner has a businessowners liability policy. When a customer
slipped and hurt herself at the deli, the liability policy paid for medical
expenses. The customer, however, is now suing the business owner because
she claims there was no caution sign warning her that the floor was wet.
What is the insurer obligated to do. - - Pay to defend the policy owner in the
lawsuit because liability coverage contains a duty-to-defend provision
- The part of the policy that sets forth the rules of conduct, duties, and
obligations of the parties is called the - - Conditions
- What type of information would be found in a policy's insuring agreement?
- - Renewal dates
- The commercial general liability coverage form excludes bodily injury or
property damage that the insured has assumed under any contract or
agreement. However, the exclusion does not apply to certain types of
contracts, as long as the injury or damage occurs - - After the execution of
the contract
- A restaurant is out of business for 3 days after an insured's automobile hits
and electrical pole. The pole fails and hits the building, knocking out all
electrical power supply. Which of the following is NOT covered under the
insured driver's auto policy? - - Lost revenues from the restaurant
