Louisiana Property and Casualty Insurance Practice Quiz with Complete Solutions

180 days - ANSWER-The maximum term a temporary license may be issued for is 32 - ANSWER-Continuing Education hours for a producer holding both a L&H and a P&C is every odd numbered year - ANSWER-Property & Casualty licenses must be renewed $25,000 - ANSWER-What is the maximum fine that may be imposed for a willful violation of a cease and desist order issued by the commissioner? April 30th of odd years - ANSWER-P&C producers license expires on Must reside or maintain a principal place of business in Louisiana - ANSWER-A resident producer 18 years old - ANSWER-Applicants for licensure MUST be: 180 - ANSWER-The Commissioner of Insurance may issue a temporary license for period NOT TO EXCEED _______ days without requiring examination. 10 days of the change - ANSWER-Every insurance licensee MUST notify the Commissioner of any alteration in his or her residence or business address within_____ Elected - ANSWER-The Louisiana Insurance Commissioner is___ 4 Years - ANSWER-The Insurance Commissioner's term of office is___ Chief Deputy Commissioner - ANSWER-If the Insurance Commissioner becomes incapacitated, the commissioner's powers will be exercised by the ____ Certificate of Authority - ANSWER-Before a Domestic insurance company can transact insurance in Louisiana, it must apply for a _____ which the commissioner will issue if the insurer is qualified As deemed necessary - ANSWER-In addition to the minimum examination requirements, the commissioner may examine insurers as often as__ 5 Years - ANSWER-Every authorized insurer must be examined by the commissioner at least once every___ Defamation - ANSWER-Publishing false or maliciously critical material which is derogatory to the financial condition of an insurer is an illegal practice known as____ Rebating - ANSWER-Promising to return a portion of a premium to a prospective insurance buyer is an illegal practice known as___ Twisting - ANSWER-Persuading a policyowner to drop a satisfactory policy and replace it with another is an illegal practice called___ Title 22 - ANSWER-The Louisiana Insurance Code is called: