LOUISIANA TITLE INSURANCE EXAM 2026-2027
QUESTIONS AND ANSWERS GRADED A+
According to Louisiana law, an insurance producer shall not pay, directly or
indirectly, any commission, service fee, brokerage, or other valuable consideration
to any person or entity for selling, soliciting, or negotiating insurance in this state
unless such person or entity holds a
valid license as required by law
The renewal fee for a Louisiana producer license is
$50
The requirements to get a resident Louisiana insurance producer's license include
18 years of age
Pass the state exam
Live or work in Louisiana
The Insurance Department reviews the files of insurance companies at least every
how many years
5 years
,Sam's appointment to sell insurance for XYZ insurance Company has been
terminated by the company after the company found evidence Sam committed
Fraud. XYZ has how many days to notify the Insurance Department of the
termination
15 days
An insurance company formed outside of the United States is called an
Alien
Elements of a contract
Legal importance
consideration
competent parties
What is the legal term for the process used to prevent someone from taking back a
right that they have previously waived
Estoppel
What is not a characteristic of an insurable risk
Adverse Selection
A legal contract that exchanges unequal values between parties is
,(the obligation depends on an uncertain event)
Aleatory contract
A dishonest act or fraud would be considered a
Moral hazard
Giving up a right or privilege is called
waiver
The client hands an initial premium check to the producer and expects the producer
to forward the money to the insurer for processing. Even though his contract did
not state that he must pay for the postage to forward the money to the insurer, his
actions are representing what type of authority
Implied
The Rocket Insurance Corporation offers insurance policies on standard pre-
printed forms. They do not negotiate the wording on the contract. If someone's
application is approved, that person will receive the same standard contract as
anyone else insured by the Rocket Insurance Corporation. (take it or leave it/no
negotiations) This type of contract is referred to as a
Contract of Adhesion
, A farm lease that has expired is presumed to have been continued for another year
if the tenant holds over without opposition for how long
One month
Subdivision regulations (private deed restrictions) may be modified by those
affected within what time period
After 10 years if both (A) owners representing 2/3 of the land and (B) 2/3 of the
owners of the land agree
When each party obtains an advantage in exchange for his obligation this is called
an
Onerous Contract
An undivided interest in real property is best defined in Louisiana Civil Law as
The property is owned by more than one person who share the same thing
A servitude requiring a property owner to maintain and not prevent the natural
flow of water across his property is an example of
a natural predial servitude
An offer that specifies no time for acceptance or if the offeror has not manifested
an intent to give the offeree a delay, the offer may
QUESTIONS AND ANSWERS GRADED A+
According to Louisiana law, an insurance producer shall not pay, directly or
indirectly, any commission, service fee, brokerage, or other valuable consideration
to any person or entity for selling, soliciting, or negotiating insurance in this state
unless such person or entity holds a
valid license as required by law
The renewal fee for a Louisiana producer license is
$50
The requirements to get a resident Louisiana insurance producer's license include
18 years of age
Pass the state exam
Live or work in Louisiana
The Insurance Department reviews the files of insurance companies at least every
how many years
5 years
,Sam's appointment to sell insurance for XYZ insurance Company has been
terminated by the company after the company found evidence Sam committed
Fraud. XYZ has how many days to notify the Insurance Department of the
termination
15 days
An insurance company formed outside of the United States is called an
Alien
Elements of a contract
Legal importance
consideration
competent parties
What is the legal term for the process used to prevent someone from taking back a
right that they have previously waived
Estoppel
What is not a characteristic of an insurable risk
Adverse Selection
A legal contract that exchanges unequal values between parties is
,(the obligation depends on an uncertain event)
Aleatory contract
A dishonest act or fraud would be considered a
Moral hazard
Giving up a right or privilege is called
waiver
The client hands an initial premium check to the producer and expects the producer
to forward the money to the insurer for processing. Even though his contract did
not state that he must pay for the postage to forward the money to the insurer, his
actions are representing what type of authority
Implied
The Rocket Insurance Corporation offers insurance policies on standard pre-
printed forms. They do not negotiate the wording on the contract. If someone's
application is approved, that person will receive the same standard contract as
anyone else insured by the Rocket Insurance Corporation. (take it or leave it/no
negotiations) This type of contract is referred to as a
Contract of Adhesion
, A farm lease that has expired is presumed to have been continued for another year
if the tenant holds over without opposition for how long
One month
Subdivision regulations (private deed restrictions) may be modified by those
affected within what time period
After 10 years if both (A) owners representing 2/3 of the land and (B) 2/3 of the
owners of the land agree
When each party obtains an advantage in exchange for his obligation this is called
an
Onerous Contract
An undivided interest in real property is best defined in Louisiana Civil Law as
The property is owned by more than one person who share the same thing
A servitude requiring a property owner to maintain and not prevent the natural
flow of water across his property is an example of
a natural predial servitude
An offer that specifies no time for acceptance or if the offeror has not manifested
an intent to give the offeree a delay, the offer may
