Louisiana Property and Casualty Insurance Law | Questions with 100% Correct Answers |
Updated &Verified | 2024-2025 | 100% Score
Authorized insurers may choose not to participate in the plan - ✔✔All of the following are true
regarding the Louisiana Automobile Insurance Plan EXCEPT:
short-rate - ✔✔The named insured may cancel a property insurance policy in this state at any time, in
which case the insurer must refund any unearned premium due on a __________ basis:
Standard fire policy - ✔✔The basis for all property insurance sold in this state is the Louisiana:
Sole proprietors must be covered under the mandatory coverage - ✔✔Which of the following is not true
regarding Workers' Compensation in this state:
$100,000 - ✔✔A client paid $25,000 for a lot upon which he built a new home valued at $75,000. If his
insurer writes a dwelling property policy on the home with a policy limit of $100,000 and charges him a
premium based upon that amount, how much must they pay the insured in the event of a total loss:
1 week - ✔✔Under Workers' Compensation, the waiting period for loss of income due to disability is:
Age of the named insured - ✔✔After a personal auto policy has been in effect for 60 days, an insurer
may cancel for all of the following reasons EXCEPT:
Auto insurers may specify that repairs be completed by a particular shop - ✔✔All of the following are
true regarding Loss Payments on property/casualty insurance policies EXCEPT:
Agents may not bind coverage with the corporation - ✔✔All are true regarding the Louisiana Citizens
Property Insurance Corporation EXCEPT:
Louisiana Workers' Compensation Corporation - ✔✔A corporation that was created as a private, non-
profit entity to operate as a domestic insurer to provide a residual market for Workers' Compensation
, insurance for employers that have in good faith, but without success, sought coverage in the voluntary
market is known as the:
Regardless of who caused the accident - ✔✔The Compulsory Motor Vehicle Safety Responsibility Law
prohibits those who drive without the compulsory coverage from collecting the first $25,000 in property
damage and the first $15,000 in bodily injury from another driver:
Ensure that insurers have the financial capacity to insure acts of terrorism - ✔✔The purpose of the
federal Terrorism Risk Insurance Act is to:
10 - ✔✔A Standard Fire Policy may be cancelled by the insurer at any time for non-payment of premium
by giving the named insured at least ____ days advance written notice:
30 - ✔✔When cancelling or non-renewing a HO policy, insurers must send the named insured at least
____ days advance written notice:
60 - ✔✔When non-renewing a commercial policy, insurers must give the first-named insured at least
____ days advance written notice:
60 - ✔✔On commercial policies that have not been in effect for at least 60 days, an insurer may cancel
for any valid reason by giving the first-named insured at least ____ days advance written notice:
30 - ✔✔Commercial insurers must give the first-named insured written notice of any rate increase,
change in the deductible, or reduction in limits or coverage at least ____ days prior to the expiration of
the policy:
66 2/3% - ✔✔Under Workers' Compensation, temporary total disability benefits are awarded to an
employee as a result of an injury that temporarily prevents them from engaging in any self-employment
or occupation for wages. Such benefits total ____% of wages during the period of such disability:
To cover unearned premium refunds of insolvent insurers without limit - ✔✔Purposes of the Louisiana
P&C Guaranty Association include all EXCEPT;
Updated &Verified | 2024-2025 | 100% Score
Authorized insurers may choose not to participate in the plan - ✔✔All of the following are true
regarding the Louisiana Automobile Insurance Plan EXCEPT:
short-rate - ✔✔The named insured may cancel a property insurance policy in this state at any time, in
which case the insurer must refund any unearned premium due on a __________ basis:
Standard fire policy - ✔✔The basis for all property insurance sold in this state is the Louisiana:
Sole proprietors must be covered under the mandatory coverage - ✔✔Which of the following is not true
regarding Workers' Compensation in this state:
$100,000 - ✔✔A client paid $25,000 for a lot upon which he built a new home valued at $75,000. If his
insurer writes a dwelling property policy on the home with a policy limit of $100,000 and charges him a
premium based upon that amount, how much must they pay the insured in the event of a total loss:
1 week - ✔✔Under Workers' Compensation, the waiting period for loss of income due to disability is:
Age of the named insured - ✔✔After a personal auto policy has been in effect for 60 days, an insurer
may cancel for all of the following reasons EXCEPT:
Auto insurers may specify that repairs be completed by a particular shop - ✔✔All of the following are
true regarding Loss Payments on property/casualty insurance policies EXCEPT:
Agents may not bind coverage with the corporation - ✔✔All are true regarding the Louisiana Citizens
Property Insurance Corporation EXCEPT:
Louisiana Workers' Compensation Corporation - ✔✔A corporation that was created as a private, non-
profit entity to operate as a domestic insurer to provide a residual market for Workers' Compensation
, insurance for employers that have in good faith, but without success, sought coverage in the voluntary
market is known as the:
Regardless of who caused the accident - ✔✔The Compulsory Motor Vehicle Safety Responsibility Law
prohibits those who drive without the compulsory coverage from collecting the first $25,000 in property
damage and the first $15,000 in bodily injury from another driver:
Ensure that insurers have the financial capacity to insure acts of terrorism - ✔✔The purpose of the
federal Terrorism Risk Insurance Act is to:
10 - ✔✔A Standard Fire Policy may be cancelled by the insurer at any time for non-payment of premium
by giving the named insured at least ____ days advance written notice:
30 - ✔✔When cancelling or non-renewing a HO policy, insurers must send the named insured at least
____ days advance written notice:
60 - ✔✔When non-renewing a commercial policy, insurers must give the first-named insured at least
____ days advance written notice:
60 - ✔✔On commercial policies that have not been in effect for at least 60 days, an insurer may cancel
for any valid reason by giving the first-named insured at least ____ days advance written notice:
30 - ✔✔Commercial insurers must give the first-named insured written notice of any rate increase,
change in the deductible, or reduction in limits or coverage at least ____ days prior to the expiration of
the policy:
66 2/3% - ✔✔Under Workers' Compensation, temporary total disability benefits are awarded to an
employee as a result of an injury that temporarily prevents them from engaging in any self-employment
or occupation for wages. Such benefits total ____% of wages during the period of such disability:
To cover unearned premium refunds of insolvent insurers without limit - ✔✔Purposes of the Louisiana
P&C Guaranty Association include all EXCEPT;
