Louisiana insurance study guide exam
questions and answers
To assure the public that only competent trustworthy individuals and other entities sell
insurance and to protect and promote the public interest. - Answer-Licensing/Purose
A contract under which one party undertakes to pay another against a loss of a
specified contingency or peril. - Answer-Insurance
What is another word for insurance company? - Answer-Insurer
What is another word for a client? - Answer-Insured
Who is the producer? - Answer-you are
Any individual who is required to be licensed under Louisiana law to solicit, sell,
negotiate, bind, procure or renew insurance. - Answer-Individual Producer
Any __________ required to be licensed under Louisiana law to solicit,sell,negotiate,
bind, procure or renew insurance. It includes a corporation, association, partnership,
limited liability company, limited liability partnership, or other legal entity. - Answer-
Business Entity Producer
Is one who resides in Louisiana or maintains a principal place of business in Louisiana.
A ________ license will be void if licensee ceases to be a resident of Louisiana. Must
surrender license within 30 days by us postal or in person - Answer-Resident Producer
A license is issued for a period of how many years - Answer-2
L & H license renewed every ______ numbered years - Answer-even
P & C license renewed every _____ numbered year - Answer-Odd
The license is renewed at the end of every ___________. - Answer-birthday month
The commissioner of insurance may issue a temporary license for a period not to
exceed _________. - Answer-180 days
When a license has lapsed more than ____ years, license will be renewed only buy
fulfilling all __________ for issuance of a new __________. - Answer-5
Requirements
license
questions and answers
To assure the public that only competent trustworthy individuals and other entities sell
insurance and to protect and promote the public interest. - Answer-Licensing/Purose
A contract under which one party undertakes to pay another against a loss of a
specified contingency or peril. - Answer-Insurance
What is another word for insurance company? - Answer-Insurer
What is another word for a client? - Answer-Insured
Who is the producer? - Answer-you are
Any individual who is required to be licensed under Louisiana law to solicit, sell,
negotiate, bind, procure or renew insurance. - Answer-Individual Producer
Any __________ required to be licensed under Louisiana law to solicit,sell,negotiate,
bind, procure or renew insurance. It includes a corporation, association, partnership,
limited liability company, limited liability partnership, or other legal entity. - Answer-
Business Entity Producer
Is one who resides in Louisiana or maintains a principal place of business in Louisiana.
A ________ license will be void if licensee ceases to be a resident of Louisiana. Must
surrender license within 30 days by us postal or in person - Answer-Resident Producer
A license is issued for a period of how many years - Answer-2
L & H license renewed every ______ numbered years - Answer-even
P & C license renewed every _____ numbered year - Answer-Odd
The license is renewed at the end of every ___________. - Answer-birthday month
The commissioner of insurance may issue a temporary license for a period not to
exceed _________. - Answer-180 days
When a license has lapsed more than ____ years, license will be renewed only buy
fulfilling all __________ for issuance of a new __________. - Answer-5
Requirements
license
