LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Personal property coverage under a homeowners policy would cover
a) Property moved to a newly acquired residence after 60 days.
b) A pet that the insured is temporarily keeping for a friend.
c) The insured's camera if it is stolen while the insured is on vacation.
d) A neighbor's fence if damaged by the insured. - ANSWER--c) The insured's
camera if it is stolen while the insured is on vacation.
Coverage C is provided on a worldwide basis.
Coverage for medical payments under a personal auto policy applies to expenses
following a covered accident that are incurred and services rendered within what
maximum time period?
a) 90 days
b) 1 year
c) 3 years
d) 5 years - ANSWER--c) 3 years
A coverage requirement in the policy states that medical expenses must be
incurred within three years of the accident. The services also must be rendered
within that time period.
, LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
The Residential Condominium Building Association Policy (RCBAP) is used for
residential condominium building associations to cover the entire building under
one policy. Which of the following statements about RCBAP is true?
a) It does not protect the individual owner from loss to personal property owned
exclusively by the unit owner.
b) It provides limited coverage for personal property owned exclusively by the
unit owner.
c) It is designed to provide exclusive coverage for the individual owner and
provides not coverage for the unit owner.
d) This policy form is not approved for use in the states of New York or New
Jersey. - ANSWER--a) It does not protect the individual owner from loss to
personal property owned exclusively by the unit owner.
The Residential Condominium Building Association Policy (RCBAP) is used for
residential condominium building associations to cover the entire building under
one policy, all units, improvements within the units and personal property owned
in common is covered with a contents policy. The RCBAP does not protect the
individual owner from loss to personal property owned exclusively by the unit
owner.
With respect to commercial auto policies, the garage coverage form provides
liability protection for all of the following EXCEPT
, LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
a) The insured's business autos.
b) The insured's business products and work performed.
c) The insured's business income losses due to personal injury.
d) The insured's business premises. - ANSWER--c) The insured's business income
losses due to personal injury.
The garage coverage form does NOT cover personal injury and loss of wages from
those injuries. Such coverage would be provided by a commercial general liability
(CGL) policy.
All of the following are unfair claims settlement practices EXCEPT
a) Failing to adopt and implement reasonable standards for settling claims.
b) Failing to acknowledge pertinent communication pertaining to a claim.
c) Suggesting negotiations in settling the claim.
d) Refusing to pay claims without conducting a reasonable investigation. -
ANSWER--c) Suggesting negotiations in settling the claim.
When settling claims, negotiation can come into play.
Which of the following statements is true concerning underinsured motorist
coverage under a personal auto policy?
, LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
a) Coverage applies only to the extent that the underinsured motorist limits
exceed the bodily injury limits carried by the operator of the other vehicle.
b) It will pay up to the limits of insurance for any loss which involves an
underinsured driver.
c) Limits must equal the bodily injury limits of the policy.
d) Limits may differ from the limits for uninsured motorist coverage. - ANSWER--
a) Coverage applies only to the extent that the underinsured motorist limits
exceed the bodily injury limits carried by the operator of the other vehicle.
Underinsured motorist coverage will act as excess over the at fault motorist's
bodily injury coverage.
Bob's home is insured for $100,000 under a dwelling policy. Yesterday his home
suffered $20,000 damage from a fire. Today the home was struck by lightning,
starting another fire that completely destroyed the structure. Bob's policy will pay
a) $100,000.
b) $80,000.
c) $20,000.
d) $120,000. - ANSWER--a) $100,000.
Bob's policy will pay $100,000. If the repairs had been made ($20,000) and then
the home destroyed, the policy would have paid $120,000 as two separate losses.
Due to the unrepaired damage, the total amount of coverage is only the face
amount of the policy.
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Personal property coverage under a homeowners policy would cover
a) Property moved to a newly acquired residence after 60 days.
b) A pet that the insured is temporarily keeping for a friend.
c) The insured's camera if it is stolen while the insured is on vacation.
d) A neighbor's fence if damaged by the insured. - ANSWER--c) The insured's
camera if it is stolen while the insured is on vacation.
Coverage C is provided on a worldwide basis.
Coverage for medical payments under a personal auto policy applies to expenses
following a covered accident that are incurred and services rendered within what
maximum time period?
a) 90 days
b) 1 year
c) 3 years
d) 5 years - ANSWER--c) 3 years
A coverage requirement in the policy states that medical expenses must be
incurred within three years of the accident. The services also must be rendered
within that time period.
, LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
The Residential Condominium Building Association Policy (RCBAP) is used for
residential condominium building associations to cover the entire building under
one policy. Which of the following statements about RCBAP is true?
a) It does not protect the individual owner from loss to personal property owned
exclusively by the unit owner.
b) It provides limited coverage for personal property owned exclusively by the
unit owner.
c) It is designed to provide exclusive coverage for the individual owner and
provides not coverage for the unit owner.
d) This policy form is not approved for use in the states of New York or New
Jersey. - ANSWER--a) It does not protect the individual owner from loss to
personal property owned exclusively by the unit owner.
The Residential Condominium Building Association Policy (RCBAP) is used for
residential condominium building associations to cover the entire building under
one policy, all units, improvements within the units and personal property owned
in common is covered with a contents policy. The RCBAP does not protect the
individual owner from loss to personal property owned exclusively by the unit
owner.
With respect to commercial auto policies, the garage coverage form provides
liability protection for all of the following EXCEPT
, LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
a) The insured's business autos.
b) The insured's business products and work performed.
c) The insured's business income losses due to personal injury.
d) The insured's business premises. - ANSWER--c) The insured's business income
losses due to personal injury.
The garage coverage form does NOT cover personal injury and loss of wages from
those injuries. Such coverage would be provided by a commercial general liability
(CGL) policy.
All of the following are unfair claims settlement practices EXCEPT
a) Failing to adopt and implement reasonable standards for settling claims.
b) Failing to acknowledge pertinent communication pertaining to a claim.
c) Suggesting negotiations in settling the claim.
d) Refusing to pay claims without conducting a reasonable investigation. -
ANSWER--c) Suggesting negotiations in settling the claim.
When settling claims, negotiation can come into play.
Which of the following statements is true concerning underinsured motorist
coverage under a personal auto policy?
, LOUISIANA PROPERTY AND CASUALTY INSURANCE
EXAM NEWEST 2024 ACTUAL EXAM 140 QUESTIONS
AND CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
a) Coverage applies only to the extent that the underinsured motorist limits
exceed the bodily injury limits carried by the operator of the other vehicle.
b) It will pay up to the limits of insurance for any loss which involves an
underinsured driver.
c) Limits must equal the bodily injury limits of the policy.
d) Limits may differ from the limits for uninsured motorist coverage. - ANSWER--
a) Coverage applies only to the extent that the underinsured motorist limits
exceed the bodily injury limits carried by the operator of the other vehicle.
Underinsured motorist coverage will act as excess over the at fault motorist's
bodily injury coverage.
Bob's home is insured for $100,000 under a dwelling policy. Yesterday his home
suffered $20,000 damage from a fire. Today the home was struck by lightning,
starting another fire that completely destroyed the structure. Bob's policy will pay
a) $100,000.
b) $80,000.
c) $20,000.
d) $120,000. - ANSWER--a) $100,000.
Bob's policy will pay $100,000. If the repairs had been made ($20,000) and then
the home destroyed, the policy would have paid $120,000 as two separate losses.
Due to the unrepaired damage, the total amount of coverage is only the face
amount of the policy.
