LOUISIANA PROPERTY AND CASUALTY INSURANCE EXAM WITH CORRECT DETAILED ANSWERS 2024| ALREADY GRADED A +

LOUISIANA PROPERTY AND
CASUALTY INSURANCE EXAM WITH
CORRECT DETAILED ANSWERS 2024|
ALREADY GRADED A +
The main difference between an HO-4 and an HO-6
is
a) HO-6 provides limited dwelling coverage as well
as contents coverage.
b) HO-4 does not cover additional living expenses.
c) HO-6 does not cover additional living expenses.
d) HO-4 provides limited dwelling coverage as well
as contents coverage.
- CORRECT ANSWER-a) HO-6 provides limited
dwelling coverage as well as contents coverage.
HO-4 provides no dwelling coverage because a
tenant does not own the dwelling; the condo owner
does own the condo and is provided with coverage
for improvements. Both HO-4 and HO-6 cover theft
and additional living expenses.
Which part of an insurance policy covers claimsrelated
expenses, reasonable expenses incurred by
an insured to protect damaged property from
further loss, or defense expenses?
a) Insuring agreement
b) Additional coverage
c) Exclusions
d) Declarations
- CORRECT ANSWER-b) Additional coverage
The additional coverage portion of a policy provides
an additional amount of coverage for specific loss
expense, at no additional premium.
Which of the following would not be a violation of
Louisiana insurance regulations?
a) Producer B charges his clients, in addition to the
premium, a consulting fee.
b) Producer C uses her license to write uncontrolled
business only.
c) Producer D collects premiums due on policies and
deposits the funds in his own personal account.
d) Producer A uses her license to write only
insurance for herself and her immediate family. -
CORRECT ANSWER-b) Producer C uses her license to
write uncontrolled business only.
When items are scheduled, they are excluded from
Coverage C as insured items, and are covered only
under the scheduled personal property
endorsement.
Which of the following terms refers to a person's
ability to do some work or the need to do
alternative work?
a) Temporary total disability
b) Temporary partial disability
c) Permanent partial disability
d) Permanent total disability - CORRECT ANSWERb)
Temporary partial disability
The insuring agreement is the part of the policy
structure that describes the insured perils and the
method of indemnification.
Which of the following statements is NOT true
regarding a personal umbrella liability policy?
a) It provides excess liability coverage over
underlying personal liability.
b) It provides errors and omissions coverage for an
agency.
c) It may cover certain exposures not provided under
the primary layer.
d) It may require the payment of a self-insured
retention. - CORRECT ANSWER-b) It provides errors
and omissions coverage for an agency.