Property and Casualty Exam Louisiana Insurance Agent Test Review (100% Verified with correct answers)

All of the following situations would be covered under a professional liability policy correct answers An accountant's error that inflated a bid and caused a client to lose a major account., Negligence of an architect who designed an unsafe building., Failure of a doctor to render the quality of care that is customary in the medical field, .EXCEPT The failure of an attorney to properly defend a client due to his personal dislike of the client Under a professional liability policy correct answers Intentional breach of duty would not be covered An insured owns a large dog. The first day he has to leave the dog home alone to go to work, the insured comes back to find his $400 couch torn apart, his $100 coffee table chewed up, his $50 window curtain shredded, and a $200 window pane shattered where his dog jumped through. The insured has personal property coverage under a special form dwelling policy. How much of this loss will the policy cover? correct answers $0 Damage that results from domestic animals correct answers is excluded under the special form dwelling policy What is the basic limit for costs incurred at the place a vehicle is disabled provided by the towing and labor costs endorsement? correct answers $25 The towing and labor costs endorsement correct answers provides a basic limit of $25 for towing and labor costs incurred at the place a vehicle is disabled. Higher limits are available for an additional premium Which of the following is NOT consideration on the part of an insured? correct answers Promise to submit timely claims The binding force in any contract is correct answers consideration Consideration on the part of the insured is correct answers the payment of premiums and the health representations made in the application. Consideration on the part of the insurer is correct answers the promise to pay in the event of loss A $100,000 house insured on a policy with an 80% coinsurance requirement has a fire that caused $40,000 of damage; the owner has a policy with $60,000 coverage. How much can the owner collect for his loss? correct answers $30,000 For the total amount of a partial loss to be paid correct answers a house must be insured for at least 80% of its value on the date of loss