LA Bail Bonds Study Guide Questions with Detailed Verified Answers

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LA Bail Bonds Study Guide Questions
with Detailed Verified Answers

Question: Alien insurer


Ans: One formed under any country other than the US


Question: Approved unauthorized insurer


Ans: An insurer without a certificate of authority or otherwise qualified under
the provisions of this code and which is on the list of approved unauthorized
insurers under the provisions of RS 22:436 and from which a licensed surplus
lines broker may procure insurance under provisions of RS 22:432 .


Question: Authorized insurer


Ans: And insurer with a certificate of authority or license issued under
provisions of this code or otherwise qualified under RS 22:481 .


Question: Department


Ans: DOI or Department of Insurance


Question: Domestic Insurer


Ans: One formed under laws of this state (LA)

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Question: Foreign Insurer


Ans: One formed under the laws of any other state or territory of the US or
the DC


Question: Insurer


Ans: Includes every person engaged in the business of making contracts of
insurance other than a fraternal benefit society


Question: Life insurer


Ans: All insurers issuing life insurance contracts, including industrial and
service insurers.


Question: Officer


Ans: Means a president, Vice President, treasurer, actuary, secretary,
controller, and any other person who performs for the company functions
corresponding to those performed by the foregoing officers.


Question: Person


Ans: Any individual, company, insurer, Association, organization, reciprocal or
interinsurance exchange, partnership, business, trust, limited liability
company, or corporation.


Question: Premium