10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
Louisiana Property & Casualty Exam - PSI & Exam FX
COMPLETE 2025-2026 |QUESTIONS AND ANSWERS | 100%
ACCURATE
Terms in this set (250)
Funding for the operation Annual assessments paid by member insurers.
and
administration of the
Louisiana Insurance
Guaranty Association comes
from
Uninsured Motorist property $250.
damage coverage is subject
to a deductible of
Rates that are established Manual rates.
based on the similarities of
the risk with other risks are
known as
Should 2 or more insurers Any of the insurers providing coverage.
issue a combined Standard
Fire Policy insuring a single
risk, in the event of a loss,
the insured must notify
The policy conditions define How parties to the contract must act following a loss.
Because an insurance policy is Conditions.
a legal
contract, it must conform to
the state laws governing
contracts which require all
of the following elements
EXCEPT
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 1/47
,10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
The value placed on Premium.
property insured under a
fire insurance policy is
used to determine the
policy's
Shipbuilders and repairers U.S. Longshore and Harbor Workers Compensation Act.
are covered by the
Which of the following terms Temporary partial disability
refers to a person's ability to
do some work or the need
to do alternative work?
Insurer examinations must 5 years.
occur no less frequently than
every
If a commercial policy, in 10 days
effect for less than 60
days, is to be canceled for
nonpayment of premium, how
much prior notice must the
insurer give to the first
named insured?
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 2/47
,10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
The Residential It does not protect the individual owner from loss to
Condominium Building personal property owned exclusively by the unit
Association Policy owner.
(RCBAP) is used for
residential
condominium building
associations to cover the
entire building under one
policy. Which of the
following statements
about RCBAP is true?
What is surplus lines insurance? Insurance placed with an unauthorized insurer
How long is a waiting period 30 days
upon
purchase of flood coverage
through NFIP?
The personal injury liability A third party breaks a leg when the insured knocks him down.
endorsement to an HO
policy applies to all the
following EXCEPT
The process an insurer Underwriting.
uses to evaluate
applications and
determine if a policy
should be issued and on
what terms, conditions,
and rates is known as
Terrorism Risk Insurance 2020
Program Reauthorization
Act of 2015 has extended
the TRIA to the year
According to the Fair Credit Disputes regarding consumer report information
Reporting Act, all of the
following would be
considered
negative information about a
consumer EXCEPT
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 3/47
, 10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
Replacement cost coverage At least 80% of the replacement cost
is provided in both the
broad and special form
dwelling policies when
The business income coverage Time element
form covers consequential
loss of business income that
occurs when a business
must suspend
operations because of a
direct loss. Which of the
following terms best
describes the nature of
this type of coverage?
Under which type of Contractural liability policy
coverage does the
insurer agree to pay for
bodily injury or
property damage liability
which the insured has agreed
to assume under a written
contractual agreement?
Which commercial crime form Discovery form
would
provide coverage for a loss
that did not necessarily
happen during the policy
period but was revealed
during the policy period?
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 4/47
Louisiana Property & Casualty Exam - PSI & Exam FX
COMPLETE 2025-2026 |QUESTIONS AND ANSWERS | 100%
ACCURATE
Terms in this set (250)
Funding for the operation Annual assessments paid by member insurers.
and
administration of the
Louisiana Insurance
Guaranty Association comes
from
Uninsured Motorist property $250.
damage coverage is subject
to a deductible of
Rates that are established Manual rates.
based on the similarities of
the risk with other risks are
known as
Should 2 or more insurers Any of the insurers providing coverage.
issue a combined Standard
Fire Policy insuring a single
risk, in the event of a loss,
the insured must notify
The policy conditions define How parties to the contract must act following a loss.
Because an insurance policy is Conditions.
a legal
contract, it must conform to
the state laws governing
contracts which require all
of the following elements
EXCEPT
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 1/47
,10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
The value placed on Premium.
property insured under a
fire insurance policy is
used to determine the
policy's
Shipbuilders and repairers U.S. Longshore and Harbor Workers Compensation Act.
are covered by the
Which of the following terms Temporary partial disability
refers to a person's ability to
do some work or the need
to do alternative work?
Insurer examinations must 5 years.
occur no less frequently than
every
If a commercial policy, in 10 days
effect for less than 60
days, is to be canceled for
nonpayment of premium, how
much prior notice must the
insurer give to the first
named insured?
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 2/47
,10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
The Residential It does not protect the individual owner from loss to
Condominium Building personal property owned exclusively by the unit
Association Policy owner.
(RCBAP) is used for
residential
condominium building
associations to cover the
entire building under one
policy. Which of the
following statements
about RCBAP is true?
What is surplus lines insurance? Insurance placed with an unauthorized insurer
How long is a waiting period 30 days
upon
purchase of flood coverage
through NFIP?
The personal injury liability A third party breaks a leg when the insured knocks him down.
endorsement to an HO
policy applies to all the
following EXCEPT
The process an insurer Underwriting.
uses to evaluate
applications and
determine if a policy
should be issued and on
what terms, conditions,
and rates is known as
Terrorism Risk Insurance 2020
Program Reauthorization
Act of 2015 has extended
the TRIA to the year
According to the Fair Credit Disputes regarding consumer report information
Reporting Act, all of the
following would be
considered
negative information about a
consumer EXCEPT
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 3/47
, 10/4/25, 10:18 PM Property and Casualty Exam- Louisiana
Replacement cost coverage At least 80% of the replacement cost
is provided in both the
broad and special form
dwelling policies when
The business income coverage Time element
form covers consequential
loss of business income that
occurs when a business
must suspend
operations because of a
direct loss. Which of the
following terms best
describes the nature of
this type of coverage?
Under which type of Contractural liability policy
coverage does the
insurer agree to pay for
bodily injury or
property damage liability
which the insured has agreed
to assume under a written
contractual agreement?
Which commercial crime form Discovery form
would
provide coverage for a loss
that did not necessarily
happen during the policy
period but was revealed
during the policy period?
https://quizlet.com/286744100/property-and-casualty-exam-louisiana-flash-cards/ 4/47
