Louisiana Insurance Regulation Test 2
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Questions and Answers

According to the insurance laws in Louisiana, how long does an adjuster have to report any administrative action taken against them to the commissioner of insurance?

  • 15 days
  • 60 days
  • 45 days
  • 30 days (correct)

    • In Louisiana, how many hours of continuing education courses must an adjuster complete every two years?

  • 18 hours
  • 12 hours
  • 24 hours (correct)
  • 30 hours

    • Which of the following individuals are exempt from the continuing education requirements for adjuster license renewal in Louisiana?

  • Nonresident adjuster license holders who have met the continuing education requirements of their home state
  • Both A and B (correct)
  • New licensees who have been licensed for less than one year
  • Neither A nor B

    • According to the text, what information is required to be included on a claims adjuster license?

    <p>Licensee's name, business address, license number, date of issuance, expiration date, and any other information the commissioner of insurance deems necessary</p> Signup and view all the answers

    According to the text, how often must a licensed claims adjuster file an application for license renewal?

    <p>Every two years</p> Signup and view all the answers

    According to the text, what is the penalty for a licensed claims adjuster who fails to file a change of address within the required time?

    <p>$50 fine per violation</p> Signup and view all the answers

    According to the text, what is the penalty for a claims adjuster who uses a nonapproved trade name?

    <p>$250 fine</p> Signup and view all the answers

    Which of the following is NOT a cause for the commissioner of insurance to take action against a claims adjuster's license?

    <p>Completing an examination with reference material</p> Signup and view all the answers

    What is the maximum fine that the commissioner of insurance can levy for each violation by a claims adjuster?

    <p>$500</p> Signup and view all the answers

    Which of the following is NOT a cause for action against a claims adjuster's license?

    <p>Denial, suspension, or revocation of an insurance license in another state</p> Signup and view all the answers

    What is the definition of 'business of insurance' as used in this Section?

    <p>All of the above</p> Signup and view all the answers

    Which of the following is a requirement for reinstating a lapsed claims adjuster license within 24 months of expiration?

    <p>Both A and B</p> Signup and view all the answers

    Under what circumstances can a licensed claims adjuster request a waiver of license renewal procedures?

    <p>All of the above</p> Signup and view all the answers

    What entity can the commissioner of insurance contract with to perform ministerial functions related to licensing?

    <p>National Association of Insurance Commissioners (NAIC)</p> Signup and view all the answers

    What are the requirements for a nonresident person to receive a nonresident claims adjuster license?

    <p>All of the above</p> Signup and view all the answers

    According to the text, what is required for an individual to be eligible for a claims adjuster license in their home state?

    <p>Maintain an office in the home state with public access</p> Signup and view all the answers

    If a claims adjuster license is terminated in the home state, what must the claims adjuster do to maintain their nonresident license in another state?

    <p>Obtain a resident claims adjuster license in the new home state</p> Signup and view all the answers

    Under what circumstances can an individual who was previously licensed as a claims adjuster in another state be exempt from completing an examination in the new state?

    <p>All of the above</p> Signup and view all the answers

    What is a limited claims adjuster license?

    <p>A license that limits the kinds of insurance claims the adjuster can handle</p> Signup and view all the answers

    According to the text, what is required for a business entity to obtain a claims adjuster license in Louisiana?

    <p>Designate a licensed individual claims adjuster responsible for compliance with insurance laws</p> Signup and view all the answers

    According to the text, who is required to pass a written examination to obtain a claims adjuster license in Louisiana?

    <p>An individual applying for a claims adjuster license under this Part</p> Signup and view all the answers

    According to the text, who may designate Louisiana as their home state for obtaining a claims adjuster license?

    <p>A nonresident who is not eligible for a license pursuant to R.S. 22:1670</p> Signup and view all the answers

    According to the text, who is exempt from taking the written examination to obtain a claims adjuster license in Louisiana?

    <p>A resident of Canada</p> Signup and view all the answers

    According to the text, how long does an adjuster have to report any administrative action taken against them to the commissioner of insurance?

    <p>Within 30 days</p> Signup and view all the answers

    According to the text, what must an adjuster include in the report to the commissioner of insurance regarding a criminal prosecution?

    <p>All of the above</p> Signup and view all the answers

    According to the text, who is exempt from the continuing education requirements for adjuster license renewal in Louisiana?

    <p>Licensees holding nonresident adjuster licenses who have met the continuing education requirements of their home state</p> Signup and view all the answers

    According to the text, what is the penalty for a claims adjuster who fails to file a change of address within the required time?

    <p>A $200 fine per violation</p> Signup and view all the answers

    According to the text, what is the maximum fine that the commissioner of insurance can levy for each violation by a claims adjuster?

    <p>$1000</p> Signup and view all the answers

    According to the text, who may designate Louisiana as their home state for obtaining a claims adjuster license?

    <p>Both residents and nonresidents of Louisiana</p> Signup and view all the answers

    According to the text, what is a limited claims adjuster license?

    <p>A license that restricts the adjuster to working with a specific type of insurance claim</p> Signup and view all the answers

    According to the text, what is the maximum time period within which a licensed claims adjuster can reinstate a lapsed license?

    <p>24 months</p> Signup and view all the answers

    According to the text, what requirements must be fulfilled by an applicant whose license has been lapsed for more than twenty-four months?

    <p>All of the above</p> Signup and view all the answers

    According to the text, under what circumstances can a licensed claims adjuster request a waiver of license renewal procedures?

    <p>All of the above</p> Signup and view all the answers

    According to the text, what entity can the commissioner of insurance contract with to perform ministerial functions related to licensing?

    <p>National Association of Insurance Commissioners (NAIC)</p> Signup and view all the answers

    Which of the following individuals is required to pass a written examination to obtain a claims adjuster license in Louisiana?

    <p>A business entity acting as a claims adjuster</p> Signup and view all the answers

    Which of the following individuals is exempt from taking the written examination to obtain a claims adjuster license in Louisiana?

    <p>A nonresident who designates Louisiana as his home state</p> Signup and view all the answers

    What is the penalty for a licensed claims adjuster who fails to file a change of address within the required time?

    <p>Suspension of the claims adjuster license</p> Signup and view all the answers

    According to the text, what is required for a business entity to obtain a claims adjuster license in Louisiana?

    <p>Designate a licensed individual claims adjuster responsible for compliance with insurance laws</p> Signup and view all the answers

    According to the text, what is one of the causes for the commissioner of insurance to take action against a claims adjuster's license?

    <p>Using fraudulent, coercive, or dishonest practices or demonstrating incompetence, untrustworthiness, or financial irresponsibility in the conduct of business that might endanger the public.</p> Signup and view all the answers

    According to the text, what is the penalty for a licensed claims adjuster who fails to pay state income tax or comply with any administrative or court order directing payment of state income tax?

    <p>Fine not to exceed five hundred dollars for each violation up to ten thousand dollars aggregate for all violations in a calendar year</p> Signup and view all the answers

    According to the text, what is one of the causes for the commissioner of insurance to take action against a claims adjuster's license?

    <p>Conviction of or nolo contendere plea to any felony, participation in a pretrial diversion program pursuant to a felony charge, suspension or deferral of sentence and probation pursuant to Code of Criminal Procedure Article 893 or similar law of another state, or conviction of any misdemeanor involving moral turpitude, public corruption, or the adjustment of insurance claims.</p> Signup and view all the answers

    According to the text, what is the penalty for a licensed claims adjuster who fails to submit physical evidence of identity or is convicted of a felony involving dishonesty or breach of trust?

    <p>Suspension</p> Signup and view all the answers

    Which of the following individuals is exempt from taking the written examination to obtain a claims adjuster license in Louisiana?

    <p>An individual who has previously held a claims adjuster license in another state</p> Signup and view all the answers

    Under what circumstances can an individual who was previously licensed as a claims adjuster in another state be exempt from completing an examination in the new state?

    <p>If the person is currently licensed in that state or if the application is received within twelve months of the cancellation of the applicant's previous claims adjuster license</p> Signup and view all the answers

    According to the text, what is required for an individual to be eligible for a claims adjuster license in their home state?

    <p>Maintaining an office in the home state of residence with public access by reasonable appointment or regular business hours</p> Signup and view all the answers

    If a claims adjuster license is terminated in the home state, what must the claims adjuster do to maintain their nonresident license in another state?

    <p>Notify the state or states where a nonresident license is issued within thirty days of the change in the new state resident license</p> Signup and view all the answers

    Which of the following actions must an adjuster report to the commissioner of insurance within thirty days of the final disposition of the matter?

    <p>Any administrative action taken against the adjuster in any jurisdiction</p> Signup and view all the answers

    Within how many days of a conviction must an adjuster report any criminal prosecution taken against them in any jurisdiction for violation of insurance laws or regulations, any felony, or any misdemeanor involving misappropriation of funds?

    <p>30 days</p> Signup and view all the answers

    How many hours of continuing education courses must an adjuster who holds an adjuster license complete on a biennial basis?

    <p>24 hours</p> Signup and view all the answers

    According to the text, what is the penalty for a claims adjuster who fails to file a change of address within the required time?

    <p>A fine of $50 per violation</p> Signup and view all the answers

    According to the text, how often must a licensed claims adjuster file an application for license renewal?

    <p>Every two years</p> Signup and view all the answers

    According to the text, what is the maximum fine that the commissioner of insurance can levy for each violation by a claims adjuster?

    <p>$1,000</p> Signup and view all the answers

    According to the text, what information is required to be included on a claims adjuster license?

    <p>Licensee's name, business address, license number, date of issuance, expiration date, and any other information the commissioner of insurance deems necessary</p> Signup and view all the answers

    Which of the following actions can the commissioner of insurance take against a claims adjuster's license for providing incorrect, misleading, incomplete, or materially false information in the license or renewal application?

    <p>All of the above</p> Signup and view all the answers

    Which of the following is considered a cause for action against a claims adjuster's license in Louisiana?

    <p>All of the above</p> Signup and view all the answers

    What is the maximum fine that the commissioner of insurance can levy for each violation by a claims adjuster in a calendar year?

    <p>$500</p> Signup and view all the answers

    Which of the following is NOT a cause for the commissioner of insurance to take action against a claims adjuster's license?

    <p>Failure to complete assignment of adjustment of a claim</p> Signup and view all the answers

    According to the text, what is the maximum time period within which a licensed claims adjuster can reinstate a lapsed license?

    <p>24 months</p> Signup and view all the answers

    According to the text, what is the penalty for a licensed claims adjuster who fails to file a change of address within the required time?

    <p>Fine</p> Signup and view all the answers

    According to the text, what is required for an individual to be eligible for a claims adjuster license in their home state?

    <p>All of the above</p> Signup and view all the answers

    According to the text, what is the penalty for a claims adjuster who uses a nonapproved trade name?

    <p>License revocation</p> Signup and view all the answers

    According to the text, who is required to pass a written examination to obtain a claims adjuster license in Louisiana?

    <p>Individuals applying for a claims adjuster license</p> Signup and view all the answers

    According to the text, what is the penalty for a licensed claims adjuster who fails to submit physical evidence of identity or is convicted of a felony involving dishonesty or breach of trust?

    <p>Revocation of license</p> Signup and view all the answers

    According to the text, what is required for a business entity to obtain a claims adjuster license in Louisiana?

    <p>All of the above</p> Signup and view all the answers

    According to the text, what must an adjuster include in the report to the commissioner of insurance regarding a criminal prosecution?

    <p>Details of the criminal offense</p> Signup and view all the answers

    Which of the following individuals is exempt from taking the written examination to obtain a claims adjuster license in Louisiana?

    <p>An individual who has previously held a claims adjuster license in Louisiana</p> Signup and view all the answers

    Under what circumstances can an individual who was previously licensed as a claims adjuster in another state be exempt from completing an examination in the new state?

    <p>If the individual's previous license was cancelled within twelve months of applying for a new license</p> Signup and view all the answers

    According to the text, what is required for a business entity to obtain a claims adjuster license in Louisiana?

    <p>The business entity must have a designated licensed claims adjuster</p> Signup and view all the answers

    What is the penalty for a licensed claims adjuster who fails to file a change of address within the required time?

    <p>A fine imposed by the commissioner of insurance</p> Signup and view all the answers

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