LOUISIANA P&C ADJUSTER EXAM
PREP: SERIES 204 EXAM GRADED A+
What fare fthe ffour frequirements fof fa flegally fbinding fcontract? f- fcorrect fanswers f-
Agreement, fconsideration, fcompetent fparties, flegal fpurpose
Jim fapplied ffor fa fhomeowners fpolicy fwith fhis fagent, fwho fgave fhim fimmediate
ftemporary fcoverage. fHowever, fafter fchecking fJim's fbackground finformation, fhis
fagent fdiscovers fthat fJim fhas fbeen fconvicted fof farson, fso fshe fdeclines fhis
fapplication. fWhich fof fthe ffollowing fbest fdescribes fJim's ffailure fto fmention fhis
fconviction fduring fthe fapplication fprocess? f- fcorrect fanswers f-Concealment
When fan finsured fsigns fa fdocument facknowledging fthat fhe fgives fup fhis fright fto fa
fcertain fcoverage, fsuch fas funinsured fmotorist fcoverage fin fan fauto fpolicy, fthis fis
fcalled: f- fcorrect fanswers f-an fexpress fwaiver.
Natalie's fbrakes fhave fbeen fsquealing ffor fseveral fmonths. fEvery ftime fshe fdrives fher
fcar, fshe's freminded fthat fshe fneeds fto fhave fthem freplaced, fbut fshe fforgets fall
, fabout fit fas fsoon fas fshe fgets fout fof fthe fcar. fNatalie's factions fcan fbe fconsidered fa:
f- fcorrect fanswers f-physical fhazard.
In fan finsurance fcontract, fthe fpolicyholder fgives fthe finsurer f_____, fand fthe finsurer
fgives fthe fpolicyholder f______. f- fcorrect fanswers f-premium fpayments; fpeace fof
fmind
Ronald falways fdrives fwith fhis fwindows frolled fdown fbecause fhe floves fthe ffeeling fof
fthe fwind fin fhis fhair. fHowever, fhe foften fforgets fto froll fhis fwindows fup fwhen fhe fgets
fout fof fthe fcar. fOf fcourse, fthis fbehavior fmakes fit feasier ffor fthieves fto fsteal fhis
fbelongings ffrom fthe fcar, fbut fRonald fcan't fhelp fbeing fforgetful. fRonald's fbehavior
fwould fbe fconsidered fa: f- fcorrect fanswers f-morale fhazard.
Skip's fConvenience fStore fmust fagree fto finstall fand fmaintain fan femergency fshutoff
fsystem ffor fits fgas fpumps fin forder fto fqualify ffor finsurance fcoverage. fWhich fof fthe
ffollowing fstatements fis ftrue? f- fcorrect fanswers f-This frequirement fis fa fwarranty
ffound fin fthe fconditions fsection fof fthe fpolicy.
Insurance fpolicies fare faleatory fcontracts. fThis fmeans: f- fcorrect fanswers f-they
fdepend fon fan funknown ffuture fevent.
In fan finsurance fpolicy, fwhere fmight fone ffind fthe ffollowing fstatement? f"The finsured
fmust fmake freasonable feffort fto fprotect fthe fcovered fproperty ffrom ffurther fdamage."
f- fcorrect fanswers f-Conditions
How fis fconcealment fdistinct ffrom fmisrepresentation? f- fcorrect fanswers f-
Concealment fis fdeliberately fwithholding finformation, fwhile fmisrepresentation fis
fstating fa ffalsehood.
Oswald fcan't fafford fto ftake fhis fcar fto fa fshop, feven fthough fit fis ffalling finto fdisrepair.
fThe fwindshield fhas fbeen fcracked ffor fsome ftime, fand ftwo fof fthe flights fare fbroken,
fnot fto fmention fthe foil fleak fhe fnoticed flast fweek. fWhile fhe fis fdriving fon ficy froads
fone fday, fhe floses fcontrol fand fslides finto fa fguardrail, fdamaging fthe ffront fbumper.
fHe fis fupset fby fthe faccident, fbut fthen fsees fan fopportunity. fHe ffiles fa fclaim ffor fthe
faccident, fstating fthat fthe fwindshield, flights, fand foil ftank fwere fdamaged fby fthe
fcollision. fOswald's factions fconstitute: f- fcorrect fanswers f-soft ffraud
If fBrigitta fapplies ffor finsurance, fthe finsurer fwill fprobably fissue fher fa ftemporary
fpolicy fso fshe fcan fbe fcovered fwhile fthey fcome fto fa fdecision fabout fher fapplication.
fThis fis fcalled: f- fcorrect fanswers f-a fbinder
How fis factual fcash fvalue fcalculated? f- fcorrect fanswers f-Replacement fcost fminus
ftotal fdepreciation
The flaw fof flarge fnumbers fstates fthat: f- fcorrect fanswers f-insuring fa fgreater fnumber
fof funits fincreases fthe faccuracy fof fthe finsurer's floss fpredictions.
PREP: SERIES 204 EXAM GRADED A+
What fare fthe ffour frequirements fof fa flegally fbinding fcontract? f- fcorrect fanswers f-
Agreement, fconsideration, fcompetent fparties, flegal fpurpose
Jim fapplied ffor fa fhomeowners fpolicy fwith fhis fagent, fwho fgave fhim fimmediate
ftemporary fcoverage. fHowever, fafter fchecking fJim's fbackground finformation, fhis
fagent fdiscovers fthat fJim fhas fbeen fconvicted fof farson, fso fshe fdeclines fhis
fapplication. fWhich fof fthe ffollowing fbest fdescribes fJim's ffailure fto fmention fhis
fconviction fduring fthe fapplication fprocess? f- fcorrect fanswers f-Concealment
When fan finsured fsigns fa fdocument facknowledging fthat fhe fgives fup fhis fright fto fa
fcertain fcoverage, fsuch fas funinsured fmotorist fcoverage fin fan fauto fpolicy, fthis fis
fcalled: f- fcorrect fanswers f-an fexpress fwaiver.
Natalie's fbrakes fhave fbeen fsquealing ffor fseveral fmonths. fEvery ftime fshe fdrives fher
fcar, fshe's freminded fthat fshe fneeds fto fhave fthem freplaced, fbut fshe fforgets fall
, fabout fit fas fsoon fas fshe fgets fout fof fthe fcar. fNatalie's factions fcan fbe fconsidered fa:
f- fcorrect fanswers f-physical fhazard.
In fan finsurance fcontract, fthe fpolicyholder fgives fthe finsurer f_____, fand fthe finsurer
fgives fthe fpolicyholder f______. f- fcorrect fanswers f-premium fpayments; fpeace fof
fmind
Ronald falways fdrives fwith fhis fwindows frolled fdown fbecause fhe floves fthe ffeeling fof
fthe fwind fin fhis fhair. fHowever, fhe foften fforgets fto froll fhis fwindows fup fwhen fhe fgets
fout fof fthe fcar. fOf fcourse, fthis fbehavior fmakes fit feasier ffor fthieves fto fsteal fhis
fbelongings ffrom fthe fcar, fbut fRonald fcan't fhelp fbeing fforgetful. fRonald's fbehavior
fwould fbe fconsidered fa: f- fcorrect fanswers f-morale fhazard.
Skip's fConvenience fStore fmust fagree fto finstall fand fmaintain fan femergency fshutoff
fsystem ffor fits fgas fpumps fin forder fto fqualify ffor finsurance fcoverage. fWhich fof fthe
ffollowing fstatements fis ftrue? f- fcorrect fanswers f-This frequirement fis fa fwarranty
ffound fin fthe fconditions fsection fof fthe fpolicy.
Insurance fpolicies fare faleatory fcontracts. fThis fmeans: f- fcorrect fanswers f-they
fdepend fon fan funknown ffuture fevent.
In fan finsurance fpolicy, fwhere fmight fone ffind fthe ffollowing fstatement? f"The finsured
fmust fmake freasonable feffort fto fprotect fthe fcovered fproperty ffrom ffurther fdamage."
f- fcorrect fanswers f-Conditions
How fis fconcealment fdistinct ffrom fmisrepresentation? f- fcorrect fanswers f-
Concealment fis fdeliberately fwithholding finformation, fwhile fmisrepresentation fis
fstating fa ffalsehood.
Oswald fcan't fafford fto ftake fhis fcar fto fa fshop, feven fthough fit fis ffalling finto fdisrepair.
fThe fwindshield fhas fbeen fcracked ffor fsome ftime, fand ftwo fof fthe flights fare fbroken,
fnot fto fmention fthe foil fleak fhe fnoticed flast fweek. fWhile fhe fis fdriving fon ficy froads
fone fday, fhe floses fcontrol fand fslides finto fa fguardrail, fdamaging fthe ffront fbumper.
fHe fis fupset fby fthe faccident, fbut fthen fsees fan fopportunity. fHe ffiles fa fclaim ffor fthe
faccident, fstating fthat fthe fwindshield, flights, fand foil ftank fwere fdamaged fby fthe
fcollision. fOswald's factions fconstitute: f- fcorrect fanswers f-soft ffraud
If fBrigitta fapplies ffor finsurance, fthe finsurer fwill fprobably fissue fher fa ftemporary
fpolicy fso fshe fcan fbe fcovered fwhile fthey fcome fto fa fdecision fabout fher fapplication.
fThis fis fcalled: f- fcorrect fanswers f-a fbinder
How fis factual fcash fvalue fcalculated? f- fcorrect fanswers f-Replacement fcost fminus
ftotal fdepreciation
The flaw fof flarge fnumbers fstates fthat: f- fcorrect fanswers f-insuring fa fgreater fnumber
fof funits fincreases fthe faccuracy fof fthe finsurer's floss fpredictions.
