QUESTIONS AND A NEW UPDATED STUDY GUIDE ACCURATE
EXAM APPROVED QUESTIONS AND CORRECT VERIFIED
ANSWERS WITH DETAILED RATIONALES (A NEW UPDATED
VERSION 2026 EDITION) |ALREADY GRADED A+ (BRAND
NEW!)
The act of Redhibition is not available if
The defects were declared to the buyer before or at the time of the
sale
If the defects were apparent or could have been discovered by
reasonable inspection
The buyer knew of the defects
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
Be revoked before it is accepted
The donation of property while living is called
Donation Inter Vivos
,A lawsuit base don lesion beyond moiety must be filed within
one year
When one party is obligated for the benefit of the other, but receives
no return advantage this is called a
Gratuitous contract
The violent Crime Control and Law Enforcement Act requires who to
get permission from the Commissioner before they can get an
insurance license
Convicted felons
,Fraudulent insurance acts include
Diverting money from an insurer
Giving false information to the Commissioner
Knowingly selling policies for a bankrupt insurance company
The Fair Credit Reporting Act established procedures to protect
Consumers
John became disabled and cannot conduct his insurance business. His
legally appointed representative may get a temporary license to
handle the business for him for up to
180 days
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
Misrepresenting an insurance policy as being shares of stock is a violation of an
insurance law known as
, 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