LA Claims Adjuster Property and
Causality Practice Exam 2 questions and
answers 100% correct
A single Declarations page common to all coverages
A single conditions section common to all coverages - Answer- A commercial package
policy always includes
Send the insured a reservation of rights letter - Answer- If the insured fails to report
claim in a timely fashion, the adjuster will immediately ___
$1000 per person - Answer- The basic limit for coverage F-medical payments of the
standard homeowners form is normally
$250 - Answer- The CGL provides up to ___per day for loss of earnings as a
supplementary payment
Was made for the benefit of the insurance company and does not warrant the insureds
compliance with all laws and regulations - Answer- The insurance company chooses to
inspect the insureds premises, the insurance inspection:
60 days. - Answer- When is loss payable under LA standard fire policy?
30 days - Answer- When an insurer has received a completed satisfactory proof of loss,
how many days does the insurer have to pay the loss
expediting expense coverage - Answer- name the coverage that applies to the extra
cost the insured incurs to make temporary repairs and speed up the permanent repairs
replacement of damage covered equipment under an equipment breakdown policy
Until the repairs are complete and the business re-opens, subject to a 12 consecutive
month limitation - Answer- How long will the business owner policy pay for the "extra
expense coverage" used to reduce the loss of income when the insured has suffered a
loss from a covered peril
handled as a supplementary payment - Answer- Typically how are defense cost
handled under aviation policy
additional living expenses is included in this coverage as well as fair rental value -
Answer- under the HO policy, loss of use would cover what
60 days prior to the effective date - Answer- Dwelling forms include a liberalization
clause. it says that any revision of coverage which broadens the insurance without an
,additional premium charge will be automatically applied to existing policies if the
revision adopted during the policy period or within
Actual Cash Value - Answer- Equipment breakdown protection coverage form normally
pays replacement cost unless endorsed to pay ___
accidental shooting of livestock - Answer- ____is covered under the broad dorm farm
owners policy but is not covered under the basic form farm owners policy
24 - Answer- In keeping with the terms and conditions of the LAW standard Fire
Insurance policy an insured may file suit to recover for a loss only if all policy
requirements have been compiled with and only if the suit is filed within __months of the
date of loss
from the time of acquisition and up to 90 days thereafter - Answer- CGL newly acquired
entity how long will the new entity be automatically considered insured under the current
CGL
Reservation of rights letter - Answer- what does the insurer do when the insured has
possibly waived his or her rights in a liability claim
10 days - Answer- how much advance notice of a hearing must the LA insurance
commissioner give to affected interested parties
$500 - Answer- what is the maximum fine for each violates the "immediate contact" rule
in LA
Freight Insurance - Answer- This ocean marine insurance coverage protects the vessel
owner in the event that cargo shipping cost are not paid
6 months/ 3 - Answer- To protect the public, the commissioner may examine a domestic
insurer every__ during the first ___years of organization
$25,000 - Answer- What is the limit that is paid for water damage under equipment
breakdown policy
15,000/30,000/25,000 - Answer- In order to satisfy the motor vehicle safety
responsibility law in Louisiana, what are the required minimum auto limits of liability a
person must carry
Garagekeepers Legal Liability - Answer- What coverage is used to cover the damage to
a customers vehicle in the care of custody of a repair garage.
within 30 days following the receipt of such demand - Answer- when a hearing is
demanded by the commissioner of insurance in Louisianan, when must such a hearing
be held?
, Estoppel - Answer- If an insurance company covered an excluded claim it may have to
continue paying other such claims because of
an NFIP dwelling policy under the regular program - Answer- NFIP polices is required to
include the increased cost of compliance coverage
Reported within one year of the date of the accident - Answer- In a CGL policy, "medical
payments" claims must be
defense - Answer- The policy can not pay more then its limit if liability. Under
supplemental coverages in the policy the policy will pay the __ cost plus the cost of
premiums on appeal bonds and bail bonds
a constructive total loss - Answer- Describes a situation where a building is not a total
loss but the cost to repair the building is greater then the value of the building
Usually excluded unless the work out of which the damage arose was done by a
subcontractor rather than the insured - Answer- Property damage to an insured's work
that arises out of the work and its part of the products-completed operations hazard as
defined in a commercial umbrella liability policy
power, light, heat, steam or refrigeration - Answer- Lack of _____ is not considered a
"breakdown" under equipment breakdown coverage
relocation expenses - Answer- Claims expenses under section II- personal liabillity of
the homeowner form do not include
set at 50% of coverage A unless a higher limit is requested - Answer- Under an H)-3,
the limit for coverage C-Personal Property for a one or two family dwelling is
If the insured insures all of their vehicles with the company or it replaces a covered auto
- Answer- The BAP uses symbol 7 to cover "specifically described autos" identified in
the declarations. An auto acquired the policy period will be covered
real property - Answer- Louisiana has a valued policy law. The insurer must pay
evaluation limit it computed on the property in issuing the coverage on the ___
All insurances who write property and casualty ins - Answer- Who must particpate in
FAIR
Profit and loss statement - Answer- In computing business interruption losses what
most important
Causality Practice Exam 2 questions and
answers 100% correct
A single Declarations page common to all coverages
A single conditions section common to all coverages - Answer- A commercial package
policy always includes
Send the insured a reservation of rights letter - Answer- If the insured fails to report
claim in a timely fashion, the adjuster will immediately ___
$1000 per person - Answer- The basic limit for coverage F-medical payments of the
standard homeowners form is normally
$250 - Answer- The CGL provides up to ___per day for loss of earnings as a
supplementary payment
Was made for the benefit of the insurance company and does not warrant the insureds
compliance with all laws and regulations - Answer- The insurance company chooses to
inspect the insureds premises, the insurance inspection:
60 days. - Answer- When is loss payable under LA standard fire policy?
30 days - Answer- When an insurer has received a completed satisfactory proof of loss,
how many days does the insurer have to pay the loss
expediting expense coverage - Answer- name the coverage that applies to the extra
cost the insured incurs to make temporary repairs and speed up the permanent repairs
replacement of damage covered equipment under an equipment breakdown policy
Until the repairs are complete and the business re-opens, subject to a 12 consecutive
month limitation - Answer- How long will the business owner policy pay for the "extra
expense coverage" used to reduce the loss of income when the insured has suffered a
loss from a covered peril
handled as a supplementary payment - Answer- Typically how are defense cost
handled under aviation policy
additional living expenses is included in this coverage as well as fair rental value -
Answer- under the HO policy, loss of use would cover what
60 days prior to the effective date - Answer- Dwelling forms include a liberalization
clause. it says that any revision of coverage which broadens the insurance without an
,additional premium charge will be automatically applied to existing policies if the
revision adopted during the policy period or within
Actual Cash Value - Answer- Equipment breakdown protection coverage form normally
pays replacement cost unless endorsed to pay ___
accidental shooting of livestock - Answer- ____is covered under the broad dorm farm
owners policy but is not covered under the basic form farm owners policy
24 - Answer- In keeping with the terms and conditions of the LAW standard Fire
Insurance policy an insured may file suit to recover for a loss only if all policy
requirements have been compiled with and only if the suit is filed within __months of the
date of loss
from the time of acquisition and up to 90 days thereafter - Answer- CGL newly acquired
entity how long will the new entity be automatically considered insured under the current
CGL
Reservation of rights letter - Answer- what does the insurer do when the insured has
possibly waived his or her rights in a liability claim
10 days - Answer- how much advance notice of a hearing must the LA insurance
commissioner give to affected interested parties
$500 - Answer- what is the maximum fine for each violates the "immediate contact" rule
in LA
Freight Insurance - Answer- This ocean marine insurance coverage protects the vessel
owner in the event that cargo shipping cost are not paid
6 months/ 3 - Answer- To protect the public, the commissioner may examine a domestic
insurer every__ during the first ___years of organization
$25,000 - Answer- What is the limit that is paid for water damage under equipment
breakdown policy
15,000/30,000/25,000 - Answer- In order to satisfy the motor vehicle safety
responsibility law in Louisiana, what are the required minimum auto limits of liability a
person must carry
Garagekeepers Legal Liability - Answer- What coverage is used to cover the damage to
a customers vehicle in the care of custody of a repair garage.
within 30 days following the receipt of such demand - Answer- when a hearing is
demanded by the commissioner of insurance in Louisianan, when must such a hearing
be held?
, Estoppel - Answer- If an insurance company covered an excluded claim it may have to
continue paying other such claims because of
an NFIP dwelling policy under the regular program - Answer- NFIP polices is required to
include the increased cost of compliance coverage
Reported within one year of the date of the accident - Answer- In a CGL policy, "medical
payments" claims must be
defense - Answer- The policy can not pay more then its limit if liability. Under
supplemental coverages in the policy the policy will pay the __ cost plus the cost of
premiums on appeal bonds and bail bonds
a constructive total loss - Answer- Describes a situation where a building is not a total
loss but the cost to repair the building is greater then the value of the building
Usually excluded unless the work out of which the damage arose was done by a
subcontractor rather than the insured - Answer- Property damage to an insured's work
that arises out of the work and its part of the products-completed operations hazard as
defined in a commercial umbrella liability policy
power, light, heat, steam or refrigeration - Answer- Lack of _____ is not considered a
"breakdown" under equipment breakdown coverage
relocation expenses - Answer- Claims expenses under section II- personal liabillity of
the homeowner form do not include
set at 50% of coverage A unless a higher limit is requested - Answer- Under an H)-3,
the limit for coverage C-Personal Property for a one or two family dwelling is
If the insured insures all of their vehicles with the company or it replaces a covered auto
- Answer- The BAP uses symbol 7 to cover "specifically described autos" identified in
the declarations. An auto acquired the policy period will be covered
real property - Answer- Louisiana has a valued policy law. The insurer must pay
evaluation limit it computed on the property in issuing the coverage on the ___
All insurances who write property and casualty ins - Answer- Who must particpate in
FAIR
Profit and loss statement - Answer- In computing business interruption losses what
most important
