Louisiana Insurance Exam 106 Property & Casualty
| Questions with 100% Correct Verified Answers
John failed his test by one point, but is going to retake it next month. - ✔✔Which of the
following may NOT receive a temporary license?
Select one:
a. Joe is the executor of a deceased producer's estate.
b. John failed his test by one point, but is going to retake it next month.
c. Sally is the wife of a recently disabled producer.
d. Secretary working in the agency.
30 days - ✔✔After a hearing has concluded, in most cases the Commissioner will issue an
order on the hearing within:
Select one:
a. 10 days
b. 20 days
c. 30 days
d. 60 days
2; 2 - ✔✔Applicants for a surplus lines broker's license MUST have held a property and
casualty license for at least ____ years or have ____ years professional experience as an
employee with a property and casualty insurer.
Select one:
a. 1; 1
b. 1; 2
c. 5; 5
d. 2; 2
,$25,000 - ✔✔What is the MAXIMUM fine per act thay may be imposed for a willful violation
of a cease-and-desist order issued by the commissioner:
Select one:
a. $500
b. $1,000
c. $25,000
d. $5,000
Fraudulent acts jeopardizing the safety and soundness of the insurer. - ✔✔According to
federal law, the term of imprisonment for fraudulent acts may be as high as 15 years for which
of the following reasons?
Select one:
a. Embezzlement of less than $5,000.
b. Fraudulent acts jeopardizing the safety and soundness of the insurer.
c. Failure to report fraudulent actions to the appropriate authorities.
d. Both A and B.
Social device; financial loss - ✔✔Insurance is a ___________ for spreading the chance of
__________ among a large number of people.
Select one:
a. Social device; accidental loss
b. Process; financial loss
c. Social device; financial loss
d. None of the above.
Apparent authority - ✔✔Insurance Company allows producer to project authority he does
NOT have to the public. This is:
Select one:
, a. Apparent authority.
b. Implied authority.
c. Expressed authority.
d. None of the above.
Morale Hazard - ✔✔Leaving your car keys in your car ignition is an example of a:
Select one:
a. Moral Hazard
b. Morale Hazard
c. Legal Hazard
d. Physical Hazard
All of the above - ✔✔Which of the following is a method of handling risk?
Select one:
a. Avoidance.
b. Sharing.
c. Reduction.
d. All of the above.
All of the above - ✔✔A direct writer may be:
Select one:
a. A producer in the employ of a company.
b. An exclusive producer of one company.
c. Salaried or on commission.
d. All of the above.
| Questions with 100% Correct Verified Answers
John failed his test by one point, but is going to retake it next month. - ✔✔Which of the
following may NOT receive a temporary license?
Select one:
a. Joe is the executor of a deceased producer's estate.
b. John failed his test by one point, but is going to retake it next month.
c. Sally is the wife of a recently disabled producer.
d. Secretary working in the agency.
30 days - ✔✔After a hearing has concluded, in most cases the Commissioner will issue an
order on the hearing within:
Select one:
a. 10 days
b. 20 days
c. 30 days
d. 60 days
2; 2 - ✔✔Applicants for a surplus lines broker's license MUST have held a property and
casualty license for at least ____ years or have ____ years professional experience as an
employee with a property and casualty insurer.
Select one:
a. 1; 1
b. 1; 2
c. 5; 5
d. 2; 2
,$25,000 - ✔✔What is the MAXIMUM fine per act thay may be imposed for a willful violation
of a cease-and-desist order issued by the commissioner:
Select one:
a. $500
b. $1,000
c. $25,000
d. $5,000
Fraudulent acts jeopardizing the safety and soundness of the insurer. - ✔✔According to
federal law, the term of imprisonment for fraudulent acts may be as high as 15 years for which
of the following reasons?
Select one:
a. Embezzlement of less than $5,000.
b. Fraudulent acts jeopardizing the safety and soundness of the insurer.
c. Failure to report fraudulent actions to the appropriate authorities.
d. Both A and B.
Social device; financial loss - ✔✔Insurance is a ___________ for spreading the chance of
__________ among a large number of people.
Select one:
a. Social device; accidental loss
b. Process; financial loss
c. Social device; financial loss
d. None of the above.
Apparent authority - ✔✔Insurance Company allows producer to project authority he does
NOT have to the public. This is:
Select one:
, a. Apparent authority.
b. Implied authority.
c. Expressed authority.
d. None of the above.
Morale Hazard - ✔✔Leaving your car keys in your car ignition is an example of a:
Select one:
a. Moral Hazard
b. Morale Hazard
c. Legal Hazard
d. Physical Hazard
All of the above - ✔✔Which of the following is a method of handling risk?
Select one:
a. Avoidance.
b. Sharing.
c. Reduction.
d. All of the above.
All of the above - ✔✔A direct writer may be:
Select one:
a. A producer in the employ of a company.
b. An exclusive producer of one company.
c. Salaried or on commission.
d. All of the above.
