LOUISIANA PROPERTY AND CASUALTY EXAM
QUESTIONS AND ANSWERS 2026 UPDATED
EXAM PREP
◉ A licensee must provide an initial privacy protection notice to an
individual no later than. Answer: the time the licensee establishes a
customer relationship.
◉ A licensee establishes a customer relationship when a. Answer:
consumer obtains insurance through the licensee.
◉ A licensee shall also provide a privacy protection notice to
customers not less than? Answer: annually during the continuation
of the customer relationship.
◉ The purpose of the Privacy Protection regulation is to?. Answer:
govern the treatment of non public personal financial information of
individuals who obtain insurance or are claimants or beneficiaries of
products used primarily for personal, family or household purposes.
◉ The Fair Credit Reporting Act requires?. Answer: consumer
reporting agencies to adopt fair and equitable procedures related to
consumer reports ordered in connection with credit, employment or
insurance.
,◉ A person who has been convicted of a felony involving breach of
trust, dishonesty, or insurance crimes is considered to be?. Answer:
a "prohibited" person, meaning they are prohibited from engaging in
insurance activities without the consent of the Commissioner.
◉ Persons who violate federal regulations regarding fraud and false
statements, including filing false financial reports, embezzlement or
threatening regulators in order to impede the proper administration
of the law may be?. Answer: imprisoned from 1 to 15 years and fined
up to $50,000 per violation, or the amount of the compensation
received, whichever is more.
◉ Insurers and producers may not pay a commission to any person
for selling, soliciting, or negotiating insurance unless such person
holds a?. Answer: valid license as required by law.
◉ Renewal or other deferred commissions may be paid to a person
if?. Answer: they were licensed at the time of the sale.
◉ Penalty for paying commissions to unlicensed persons include?.
Answer: fines, imprisonment and license suspension or revocation.
,◉ Authorized insurers must file with the Commissioner annual and
quarterly statements of their?. Answer: financial condition,
transactions, and affairs.
◉ Annual statements must be filed by?. Answer: March 1st.
◉ The Commissioner may suspend or revoke the certificate of
authority of any insurer failing to?. Answer: file its annual statement
when due.
◉ Insurers must keep their books and records available for the?.
Answer: Commissioner's review for five years.
◉ Anyone within the company who destroys its books or records
without the authority of the Commissioner or who fails to keep the
books and records will be?. Answer: fined up to $5,000.
◉ An insurance policy must list?. Answer: names of the parties to
the contract, subject of the insurance, risks insured against, effective
date and duration of coverage, premium amount and the premium
rate where required, and conditions pertaining to the insurance.
◉ A party that agrees to conduct a transaction by electronic means
may?. Answer: refuse to conduct other transactions by electronic
means.
, ◉ If an insurer places a value on a structure for the purposes of
determining the premium, then in the case of total loss, they must?.
Answer: pay a covered claim according to such valuation.
◉ The purpose of the Louisiana P&C Insurance Guaranty Association
is to?. Answer: pay the claims of insolvent (bankrupt) insurers.
◉ All authorized (admitted) P&C insurers must become members of
the?. Answer: Guaranty Association as a condition of their Certificate
of Authority.
◉ The P&C Guaranty Association will pay claims for unearned
premium refunds up to?. Answer: a maximum of $10,000.
◉ The P&C Guaranty Association will pay claims of insolvent
insurers up to?. Answer: the policy limits written by the insolvent
insurer.
◉ How much will The P&C Guaranty Association will pay the claims
of insolvent workers compensation insurers?. Answer: without limit.
◉ Members of the P&C Guaranty Association are subject to
proportionate assessments to pay the clams and expenses of the
QUESTIONS AND ANSWERS 2026 UPDATED
EXAM PREP
◉ A licensee must provide an initial privacy protection notice to an
individual no later than. Answer: the time the licensee establishes a
customer relationship.
◉ A licensee establishes a customer relationship when a. Answer:
consumer obtains insurance through the licensee.
◉ A licensee shall also provide a privacy protection notice to
customers not less than? Answer: annually during the continuation
of the customer relationship.
◉ The purpose of the Privacy Protection regulation is to?. Answer:
govern the treatment of non public personal financial information of
individuals who obtain insurance or are claimants or beneficiaries of
products used primarily for personal, family or household purposes.
◉ The Fair Credit Reporting Act requires?. Answer: consumer
reporting agencies to adopt fair and equitable procedures related to
consumer reports ordered in connection with credit, employment or
insurance.
,◉ A person who has been convicted of a felony involving breach of
trust, dishonesty, or insurance crimes is considered to be?. Answer:
a "prohibited" person, meaning they are prohibited from engaging in
insurance activities without the consent of the Commissioner.
◉ Persons who violate federal regulations regarding fraud and false
statements, including filing false financial reports, embezzlement or
threatening regulators in order to impede the proper administration
of the law may be?. Answer: imprisoned from 1 to 15 years and fined
up to $50,000 per violation, or the amount of the compensation
received, whichever is more.
◉ Insurers and producers may not pay a commission to any person
for selling, soliciting, or negotiating insurance unless such person
holds a?. Answer: valid license as required by law.
◉ Renewal or other deferred commissions may be paid to a person
if?. Answer: they were licensed at the time of the sale.
◉ Penalty for paying commissions to unlicensed persons include?.
Answer: fines, imprisonment and license suspension or revocation.
,◉ Authorized insurers must file with the Commissioner annual and
quarterly statements of their?. Answer: financial condition,
transactions, and affairs.
◉ Annual statements must be filed by?. Answer: March 1st.
◉ The Commissioner may suspend or revoke the certificate of
authority of any insurer failing to?. Answer: file its annual statement
when due.
◉ Insurers must keep their books and records available for the?.
Answer: Commissioner's review for five years.
◉ Anyone within the company who destroys its books or records
without the authority of the Commissioner or who fails to keep the
books and records will be?. Answer: fined up to $5,000.
◉ An insurance policy must list?. Answer: names of the parties to
the contract, subject of the insurance, risks insured against, effective
date and duration of coverage, premium amount and the premium
rate where required, and conditions pertaining to the insurance.
◉ A party that agrees to conduct a transaction by electronic means
may?. Answer: refuse to conduct other transactions by electronic
means.
, ◉ If an insurer places a value on a structure for the purposes of
determining the premium, then in the case of total loss, they must?.
Answer: pay a covered claim according to such valuation.
◉ The purpose of the Louisiana P&C Insurance Guaranty Association
is to?. Answer: pay the claims of insolvent (bankrupt) insurers.
◉ All authorized (admitted) P&C insurers must become members of
the?. Answer: Guaranty Association as a condition of their Certificate
of Authority.
◉ The P&C Guaranty Association will pay claims for unearned
premium refunds up to?. Answer: a maximum of $10,000.
◉ The P&C Guaranty Association will pay claims of insolvent
insurers up to?. Answer: the policy limits written by the insolvent
insurer.
◉ How much will The P&C Guaranty Association will pay the claims
of insolvent workers compensation insurers?. Answer: without limit.
◉ Members of the P&C Guaranty Association are subject to
proportionate assessments to pay the clams and expenses of the
