A Louisiana producer wanting authority to sell both homeowners and commercial general liability insurance would need which line(s) of authority, or the combined exam option covering both?
A. Property and Casualty
B. Life and Health
C. Personal lines only
D. Title insurance only
Source: La. R.S. 22:1547
How many questions and how much time are allotted for Louisiana's combined Property & Casualty producer exam?
A. 100 questions with a 2-hour time limit
B. 150 questions with a 3-hour time limit
C. 200 questions with a 4-hour time limit
D. 50 questions with a 1-hour time limit
Source: LDI Producer Licensing Guide
Louisiana's Valued Policy Clause (R.S. 22:1318) requires the insurer to pay the stated policy valuation on a total loss to covered fire-insured immovable property. Post-Katrina litigation clarified that this clause is triggered only when:
A. Any peril at all causes the loss, covered or excluded
B. The homeowner carries both wind and flood coverage simultaneously
C. A covered peril, such as fire or wind, is the efficient or proximate cause of the total loss
D. The loss occurs during a federally declared disaster only
Source: La. R.S. 22:1318 (Valued Policy Clause); Sher v. Lafayette Ins. Co., 988 So.2d 186 (La. 2008)
In post-Katrina wind-versus-water litigation, the Fifth Circuit in Leonard v. Nationwide held that an anti-concurrent-causation clause in a Louisiana homeowners policy:
A. Was void as against Louisiana public policy
B. Only applied to commercial policies, not homeowners policies
C. Required the insurer to apportion damages between wind and water regardless of the clause
D. Unambiguously excluded storm-surge water damage even where wind contributed concurrently or in sequence to the loss
Source: Leonard v. Nationwide Mut. Ins. Co., 499 F.3d 419 (5th Cir. 2007)
Why did ISO introduce new water exclusion endorsements for property policies in 2008, citing Louisiana court decisions?
A. To more clearly and explicitly exclude flood/storm-surge water damage after ambiguity in policy wording led to costly post-Katrina litigation
B. To eliminate windstorm coverage entirely from all homeowners policies
C. To comply with a new federal mandate requiring flood coverage bundling
D. To lower premiums nationwide by removing named-storm deductibles
Source: ISO water exclusion endorsements (2008); Louisiana wind/flood litigation history
