LOUISIANA STATE INSURANCE LAWS
P&C EXAM QUESTIONS WITH
COMPLETE SOLUTIONS
When a nonresident or resident producer moves from one state to another, they must -
Answer-file a change of address & provide certification from the new residing state
withing 30 days of the legal change.
If a resident license, while maintaining a resident license: - Answer--also maintains or
submits an application for a license in any other state or jurisdiction that says they are a
resident of that state being applied for
OR
-if the licensee ceases to be a resident of resident
When completing the background info portion of the Uniform Business Entity Application
pertaining to the disclosure of certain lawsuits or arbitration proceedings, corporations,
banks, partnerships, or other business entities, and their executive officers and
directors, must disclose those proceedings occurring within the ******* years - Answer-
the past 5 years
The commissioner may issue a temporary insurance producer license for up to *** days
without requiring an examination. - Answer-180 days
If the commissioner deems the temporary license is necessary for the servicing of an
insurance business in the following cases: - Answer-- a deceased or disabled
producer's surviving spouse, next of kin, or employee, a deceased producer's
administration or executor, or a disabled producer's court-appointed personal
representative to sell, return the producer to, or train and license new personnel to
operate, the business.
-To a member or employee of a business entity licensed as an insurance producer,
upon the death or disability of the entity's designated producer
-to the designee of a licensed producer entering active service in the U.S. Armed forces
-In any other circumstance, as the commissioner deems such issuance to be in the
public interest
The commissioner may limit any temporary licensee's authority in anyway deemed
necessary to ***** - Answer-protect insureds and the public
The commissioner may require the temporary licensee to have a licensed producer or
insurer as a sponsor to .... - Answer-assume responsibility for all acts of the temporary
licensee.
, A temporary license may not continue after the owner or the personal representative -
Answer-disposes of the business
Which of the following statements is correct?
a. A producer allows the license to transact all lines of insurance
b. A business entity acting as a producer is not required to be licensed as a producer
c. No person may act as a producer in Louisiana unless licensed by the Department of
Insurance
d. A producer may be licensed for only one line of authority - Answer-c. No person may
act as a producer in Louisiana unless licensed by the Department of Insurance
Which of the following is correct regarding a temporary license?
a. The duration of a temporary license may not exceed 18 days
b. A temporary license may be issued for up to 12 months after successfully completing
the licensing examination
c. A temporary license may not be issued to an employee of a business entity
d. A temporary license may be issued to the surviving spouse of a disabled or deceased
producer - Answer-d. A temporary license may be issued to the surviving spouse of a
disabled or deceased producer
Expiration - Answer-A producer remains in effect as long as all app fees are paid,
requirements are met, unless revoked, suspended, denied renewal or reinstatement,
expired, or surrendered.
Renewal/Nonrenewal - Answer-
Every licensed producer must file an application for renewal of their license every ***
years - Answer-2 years
To renew a producer license.... - Answer-the producer must notify the commissioner of
insurance of the licensee's intention to continue their license as either a producer,
limited lines producer, or surplus lines producer.
License that end in a even-numbered years vs. odd-numbered years - Answer-Licenses
that end in even numbered years renew in even years & licenses that end in odd
numbers will renew in odd years.
Any licensee who fails to file timely for license renewal will be charged - Answer-a late
fee of $50 (or other authorized amount) per license.
Every licensee must notify the Commissioner of any change of address, legal name, or
information submitted on the on the application within **** days. If you fail to comply with
these requirements will result in? - Answer-30 days, $50 fine per violation
P&C EXAM QUESTIONS WITH
COMPLETE SOLUTIONS
When a nonresident or resident producer moves from one state to another, they must -
Answer-file a change of address & provide certification from the new residing state
withing 30 days of the legal change.
If a resident license, while maintaining a resident license: - Answer--also maintains or
submits an application for a license in any other state or jurisdiction that says they are a
resident of that state being applied for
OR
-if the licensee ceases to be a resident of resident
When completing the background info portion of the Uniform Business Entity Application
pertaining to the disclosure of certain lawsuits or arbitration proceedings, corporations,
banks, partnerships, or other business entities, and their executive officers and
directors, must disclose those proceedings occurring within the ******* years - Answer-
the past 5 years
The commissioner may issue a temporary insurance producer license for up to *** days
without requiring an examination. - Answer-180 days
If the commissioner deems the temporary license is necessary for the servicing of an
insurance business in the following cases: - Answer-- a deceased or disabled
producer's surviving spouse, next of kin, or employee, a deceased producer's
administration or executor, or a disabled producer's court-appointed personal
representative to sell, return the producer to, or train and license new personnel to
operate, the business.
-To a member or employee of a business entity licensed as an insurance producer,
upon the death or disability of the entity's designated producer
-to the designee of a licensed producer entering active service in the U.S. Armed forces
-In any other circumstance, as the commissioner deems such issuance to be in the
public interest
The commissioner may limit any temporary licensee's authority in anyway deemed
necessary to ***** - Answer-protect insureds and the public
The commissioner may require the temporary licensee to have a licensed producer or
insurer as a sponsor to .... - Answer-assume responsibility for all acts of the temporary
licensee.
, A temporary license may not continue after the owner or the personal representative -
Answer-disposes of the business
Which of the following statements is correct?
a. A producer allows the license to transact all lines of insurance
b. A business entity acting as a producer is not required to be licensed as a producer
c. No person may act as a producer in Louisiana unless licensed by the Department of
Insurance
d. A producer may be licensed for only one line of authority - Answer-c. No person may
act as a producer in Louisiana unless licensed by the Department of Insurance
Which of the following is correct regarding a temporary license?
a. The duration of a temporary license may not exceed 18 days
b. A temporary license may be issued for up to 12 months after successfully completing
the licensing examination
c. A temporary license may not be issued to an employee of a business entity
d. A temporary license may be issued to the surviving spouse of a disabled or deceased
producer - Answer-d. A temporary license may be issued to the surviving spouse of a
disabled or deceased producer
Expiration - Answer-A producer remains in effect as long as all app fees are paid,
requirements are met, unless revoked, suspended, denied renewal or reinstatement,
expired, or surrendered.
Renewal/Nonrenewal - Answer-
Every licensed producer must file an application for renewal of their license every ***
years - Answer-2 years
To renew a producer license.... - Answer-the producer must notify the commissioner of
insurance of the licensee's intention to continue their license as either a producer,
limited lines producer, or surplus lines producer.
License that end in a even-numbered years vs. odd-numbered years - Answer-Licenses
that end in even numbered years renew in even years & licenses that end in odd
numbers will renew in odd years.
Any licensee who fails to file timely for license renewal will be charged - Answer-a late
fee of $50 (or other authorized amount) per license.
Every licensee must notify the Commissioner of any change of address, legal name, or
information submitted on the on the application within **** days. If you fail to comply with
these requirements will result in? - Answer-30 days, $50 fine per violation
