Random Exam Questions Louisiana Property & Casualty with Complete Solutions!

For which of the following persons is the Drive Other Car endorsement intended A Owners of school buses B The officers and directors of a corporation C Truckers and motor carriers D Individuals who do not own an auto - ANSWER-D Individuals who do not own an auto M has a liability policy insuring M's flower shop. After M sells the shop, the buyer asks if M can transfer the liability policy as part of the sale. Which provision prevents M from making this transfer without the insurer's consent? A Assignment B Subrogation C Assumption of risk D Liberalization - ANSWER-A Assignment The assignment provision states a policyholder cannot transfer policy ownership without the insurer's written consent. The Collision or Running Down Clause in Ocean Marine Insurance covers: A Collision damage to the insured vessel when it collides with a pier or fixed object B Collision damage to another vessel when the shipper is liable C Collision damage to the insured vessel when it collides with another vessel D Damage to the insured vessel caused by running agrou - ANSWER-B Collision damage to another vessel when the shipper is liable A Collision and Running Down Provision is contained in the standard Hull Policy to cover liability incurred for damage to another vessel or structure. In which section of the Workers' Compensation and Employer Liability policy would the policy conditions be found? A Part Two B Part Six C Part Eight D Part Four - ANSWER-B PART ASIX Which section of the Garage Coverage Form provides physical damage coverage for the insured's covered autos? A Section IV B Section I C Section II D Section III - ANSWER-A Section IV Section IV of the garage coverage form provides physical damage coverage for covered autos the named insured owns, hires, rents, leases, or borrows in the same fashion the business auto coverage form provides coverage. Gambling is considered which of the following types of risk? A Stable B Insurable C Pure D Speculative - ANSWER-D Speculative A speculative risk is one with both the possibility of gain or loss. Which of the following is not a function of insurance? A To act as an investment vehicle for the insured B To protect against uncertainty and reduce anxiety C To transfer risk from the insured to the insurer D