1|Page
LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM ||VERIFIED EXAM!!|| MOST RECENT EXAM
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+ | GUARANTEED SUCCESS!!
NEWEST EXAM!!
If a commercial policy, in 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? -
Answer-10 days
The Residential Condominium Building Association Policy
(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? -
Answer-It does not protect the individual owner from loss
to personal property owned exclusively by the unit owner.
What is surplus lines insurance? - Answer-Insurance
placed with an unauthorized insurer
How long is a waiting period upon purchase of flood
coverage through NFIP? - Answer-30 days
,2|Page
Funding for the operation and administration of the
Louisiana Insurance Guaranty Association comes from -
Answer-Annual assessments paid by member insurers.
Uninsured Motorist property damage coverage is subject
to a deductible of - Answer-$250.
Rates that are established based on the similarities of the
risk with other risks are known as - Answer-Manual rates.
The personal injury liability endorsement to an HO policy
applies to all the following EXCEPT - Answer-A third party
breaks a leg when the insured knocks him down.
The process an insurer uses to evaluate applications and
determine if a policy should be issued and on what terms,
conditions, and rates is known as - Answer-Underwriting.
Terrorism Risk Insurance Program Reauthorization Act of
2015 has extended the TRIA to the year - Answer-2020
,3|Page
According to the Fair Credit Reporting Act, all of the
following would be considered negative information about
a consumer EXCEPT - Answer-Disputes regarding
consumer report information
Replacement cost coverage is provided in both the broad
and special form dwelling policies when - Answer-At least
80% of the replacement cost
The business income coverage 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? - Answer-Time element
Under which type of 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? - Answer-Contractural liability policy
Should 2 or more insurers issue a combined Standard Fire
Policy insuring a single risk, in the event of a loss, the
insured must notify - Answer-Any of the insurers providing
coverage.
, 4|Page
The policy conditions define - Answer-How parties to the
contract must act following a loss.
Because an insurance policy is a legal contract, it must
conform to the state laws governing contracts which
require all of the following elements EXCEPT - Answer-
Conditions.
The value placed on property insured under a fire
insurance policy is used to determine the policy's -
Answer-Premium.
Shipbuilders and repairers are covered by the - Answer-
U.S. Longshore and Harbor Workers Compensation Act.
Which of the following terms refers to a person's ability to
do some work or the need to do alternative work? -
Answer-Temporary partial disability
Insurer examinations must occur no less frequently than
every - Answer-5 years.
LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM ||VERIFIED EXAM!!|| MOST RECENT EXAM
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
CORRECT ANSWERS (VERIFIED ANSWERS)
ALREADY GRADED A+ | GUARANTEED SUCCESS!!
NEWEST EXAM!!
If a commercial policy, in 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? -
Answer-10 days
The Residential Condominium Building Association Policy
(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? -
Answer-It does not protect the individual owner from loss
to personal property owned exclusively by the unit owner.
What is surplus lines insurance? - Answer-Insurance
placed with an unauthorized insurer
How long is a waiting period upon purchase of flood
coverage through NFIP? - Answer-30 days
,2|Page
Funding for the operation and administration of the
Louisiana Insurance Guaranty Association comes from -
Answer-Annual assessments paid by member insurers.
Uninsured Motorist property damage coverage is subject
to a deductible of - Answer-$250.
Rates that are established based on the similarities of the
risk with other risks are known as - Answer-Manual rates.
The personal injury liability endorsement to an HO policy
applies to all the following EXCEPT - Answer-A third party
breaks a leg when the insured knocks him down.
The process an insurer uses to evaluate applications and
determine if a policy should be issued and on what terms,
conditions, and rates is known as - Answer-Underwriting.
Terrorism Risk Insurance Program Reauthorization Act of
2015 has extended the TRIA to the year - Answer-2020
,3|Page
According to the Fair Credit Reporting Act, all of the
following would be considered negative information about
a consumer EXCEPT - Answer-Disputes regarding
consumer report information
Replacement cost coverage is provided in both the broad
and special form dwelling policies when - Answer-At least
80% of the replacement cost
The business income coverage 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? - Answer-Time element
Under which type of 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? - Answer-Contractural liability policy
Should 2 or more insurers issue a combined Standard Fire
Policy insuring a single risk, in the event of a loss, the
insured must notify - Answer-Any of the insurers providing
coverage.
, 4|Page
The policy conditions define - Answer-How parties to the
contract must act following a loss.
Because an insurance policy is a legal contract, it must
conform to the state laws governing contracts which
require all of the following elements EXCEPT - Answer-
Conditions.
The value placed on property insured under a fire
insurance policy is used to determine the policy's -
Answer-Premium.
Shipbuilders and repairers are covered by the - Answer-
U.S. Longshore and Harbor Workers Compensation Act.
Which of the following terms refers to a person's ability to
do some work or the need to do alternative work? -
Answer-Temporary partial disability
Insurer examinations must occur no less frequently than
every - Answer-5 years.
