Examfx practice test 1.The Louisiana insurance Guaranty Association Board of Directors are placed in office by: Answer- election and appointment
2.States with monopolistic state workers compensation funds: Answer- Do
not allow private insurers to be licensed to write workers compensation coverage
3.This state provided for a temporary licenses for all of the following EX- CEPT: Answer- A producer's retirement
4.Which of the following producers will be required to complete continuing education hours to renew his license?: Answer- A producer licensed 4 years ago who holds only one line of authority.
5.A producer has been notified by the commissioner to stop using an unapproved trade name. How many days does the producer have to change the trade name before facing a fine?: Answer- 10 days
6.Which of the following is NOT considered a misrepresentation as it per- tains to unfair trade practices?:
7.The Pro rata liability clause is designed to protect the principle of: Answer- Indemnity .When a resident producer changes his residence address, the Insurance Department must be notified within: Answer- 30 days
9.A building is insured, but no one has lived or worked in it for 10 years.
The building is completely empty of any furniture or personal belongings.
From an Insurance standpoint, the building is considered.: Vacant
10.An insurer publishes intimidating brochures that portray the insurer's competitions as financially and professionally unstable. Which of of the following best describes this act.: Legal, under any circumstances
11.Which bonds are required by courts whenever someone seeks a court
order stating another person must or must not dot something?:
Injunction bond
12.In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports?: The customer's associates, friends, and neighbors provide the report's data.
13.An insured relocated to another state for work. However, she still owns
and insurers a house in this state, but has had one living in it for 3 months. She is also storing some of furniture and clothes in the house. From an insurance standpoint, the insured's house is considered?: Unoccupied
2.States with monopolistic state workers compensation funds: Answer- Do
not allow private insurers to be licensed to write workers compensation coverage
3.This state provided for a temporary licenses for all of the following EX- CEPT: Answer- A producer's retirement
4.Which of the following producers will be required to complete continuing education hours to renew his license?: Answer- A producer licensed 4 years ago who holds only one line of authority.
5.A producer has been notified by the commissioner to stop using an unapproved trade name. How many days does the producer have to change the trade name before facing a fine?: Answer- 10 days
6.Which of the following is NOT considered a misrepresentation as it per- tains to unfair trade practices?:
7.The Pro rata liability clause is designed to protect the principle of: Answer- Indemnity .When a resident producer changes his residence address, the Insurance Department must be notified within: Answer- 30 days
9.A building is insured, but no one has lived or worked in it for 10 years.
The building is completely empty of any furniture or personal belongings.
From an Insurance standpoint, the building is considered.: Vacant
10.An insurer publishes intimidating brochures that portray the insurer's competitions as financially and professionally unstable. Which of of the following best describes this act.: Legal, under any circumstances
11.Which bonds are required by courts whenever someone seeks a court
order stating another person must or must not dot something?:
Injunction bond
12.In comparison to consumer reports, which of the following describes a unique characteristic of investigative consumer reports?: The customer's associates, friends, and neighbors provide the report's data.
13.An insured relocated to another state for work. However, she still owns
and insurers a house in this state, but has had one living in it for 3 months. She is also storing some of furniture and clothes in the house. From an insurance standpoint, the insured's house is considered?: Unoccupied
