Free Other Property Insurance Practice Questions
Louisiana Property exam — 66 practice questions.
Subtopics: Citizens programs, Citizens rates, Citizens rate philosophy, Citizens eligibility, Essential property insurance, Coastal Plan building standard, Citizens liability limits, Citizens class actions, NFIP flood, NFIP waiting period, NFIP limits, Difference in conditions, Mobile home policy, Ocean marine implied warranty, General average, NFIP Risk Rating 2.0, NFIP Increased Cost of Compliance, Write Your Own program, Nationwide marine definition, Personal articles floater, Beachfront and windstorm plans, Ocean marine hull coverage, NFIP flood definition, NFIP contents limit, NFIP nonresidential limit, NFIP ICC limit, NFIP waiting exception - loan, NFIP map revision, NFIP building valuation, NFIP contents valuation, NFIP basement, NFIP proof of loss, NFIP lawsuits, NFIP loss avoidance, NFIP Community Rating System, NFIP participating community, NFIP emergency vs regular program, NFIP forms, Inland marine floater, Homeowners vs boat theft, Cargo coverage, Crop insurance, Crop-hail, DIC flood and quake, NFIP, Ocean marine, Farm property, Farm liability, Farm machinery, Inland marine floaters, Scheduled property, FAIR plans, Cyber - first party, Cyber coverage gaps, Cyber coverage forms
Read the Other Property Insurance study guide
Sample questions & answers
1. Louisiana Citizens Property Insurance Corporation includes which residual market programs?
The FAIR Plan and the Coastal Plan
R.S. 22:2292(A)(5) defines the corporation to include the residual market programs known as the Coastal Plan and the FAIR Plan.
2. Rates for Citizens FAIR and Coastal Plan policies must exceed the higher of the actuarially justified rate or the highest rate of insurers with at least 2% of parish premium by at least:
10 percent
R.S. 22:2303(A)(1) requires Citizens rates to exceed the higher of those benchmarks by at least ten percent.
3. As residual markets, the plans offered by Louisiana Citizens are intended to:
Not compete on rate with the voluntary market
R.S. 22:2303(A)(1) states Citizens' residual market plans are not intended to offer rates competitive with the voluntary market.
4. Property is "insurable property" for Louisiana Citizens when it is at a fixed Louisiana location, in insurable condition, and:
Basic coverage is unavailable in the voluntary market
R.S. 22:2292(A)(9) defines insurable property as property in insurable condition when basic property insurance is not obtainable in the voluntary market.
Practice: Other Property Insurance
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
