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LOUISIANA PROPERTY AND CASUALTY EXAM
PSI & EXAMFX VERSION 1 AND 2 NEWEST 2025
ACTUAL EXAM COMPLETE 300 QUESTIONS
AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW!!
VERSION 1
What must a business do to enjoy the benefits of the additional coverage under the Building and Business personal property coverage form of a commercial property policy? - CORRECT ANSWER-Nothing, they are automatic
What is the primary intent of homeowners Medical payments coverage? - CORRECT ANSWER -To avoid lawsuits
Which of the following created the national flood insurance program? - CORRECT ANSWER -US Congress
A jewelry store has a commercial generality liability policy written on a claims made basis with a renewal date of January 1 / 4
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1st. A shopper trips, falls and injures herself on December 28, 2012 and submits a claim on January 4, 2013. Assuming a retroactive date of January 1, 2010, which policy will pay the claim? - CORRECT ANSWER -2013 policy
Under a commercial property policy, which endorsements is used to provide coverage based on actual inventory values at certain locations at specific times? - CORRECT ANSWER - Value reporting form
Which business would not be eligible for a business owners policy? - CORRECT ANSWER -A) beauty parlor
- coffee shop
- credit union***
- dry cleaners
If a covered loss occurs, the insured must provide proof of loss, and the insurer must respond within a specified time period following the loss. This is because insurance contracts are which type of contract? - CORRECT ANSWER -conditional
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All of the following types of personal property are covered under coverage c except? - CORRECT ANSWER -motor vehicles
What characterizes a policy requiring a deductible for a loss? - CORRECT ANSWER -risk sharing
When an insurance selects symbol two on the automobile declarations, indicating coverage for any auto title to the insured, which of the following automobile types will be covered? - CORRECT ANSWER -Owned autos only
Which of the following presents a basis for holding and insured responsible due to vicarious liability? - CORRECT ANSWER - Insured's child injures a friend in a sports accident
An insurer's right to cancel a policy is often limited by state laws but is it generally permitted under which of the following conditions? - CORRECT ANSWER -Non payment of premium
The self insured retention of a commercial umbrella policy is most like - CORRECT ANSWER -A deductible
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With regard to property insurance, consideration is the - CORRECT ANSWER -Payment of premium by the insured in return for the promise to pay covered claims
All the following are considered special damages except? - CORRECT ANSWER -mental anguish
Which best defines period of restoration - CORRECT ANSWER-The date of the laws until the business is, or should be, ready to resume operations
Which of the following are not covered under homeowners special form HO-3? - CORRECT ANSWER -tenants living in condominiums
A hit and run driver Negligently damage your auto in the amount of of $12,000. Which personal auto policy coverage will respond? - CORRECT ANSWER -Part D- Damage to your auto
Which of the personal auto policy coverage would pay to repair a car if it was damaged by hit and run driver - CORRECT ANSWER-Collision
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