Free Casualty Insurance Basics Practice Questions
Alaska Casualty exam — 141 practice questions.
Subtopics: Representations, Misstatements, Casualty insurance defined, Civil Rule 82, Compensatory damages, Special damages, General damages, Punitive damages, Strict liability, Vicarious liability, Absolute liability, Negligence elements, Proximate cause, Comparative negligence, Assumption of risk, Accident vs occurrence, Split limits, Combined single limit, Aggregate limit, Duty to defend, Supplementary payments, First named insured, Duties after loss, Other insurance, Underwriting purpose, Rate development, Subrogation condition, Liberalization, Policy territory, Hazard types, Claim settlement options, Cancellation pro rata, Loss payable, No benefit to bailee, Duties assignment, Negligence per se, Res ipsa loquitur, Intervening cause, Terrorism program, Bodily injury defined, Property damage defined, Insured contract, Self-insured retention, Tort defined, Battery, Libel, Nuisance, Trespass, Contributory negligence, Last clear chance, Joint and several liability, Respondeat superior, Attractive nuisance, Reasonable person standard, Burden of proof, Statute of limitations, Duty to mitigate, Nominal damages, Bailment, Hold harmless agreement, Named insured, Additional insured, Sublimit, Erosion of aggregate, Deductible, Loss reserve, IBNR reserve, Loss adjustment expense, Proof of loss, Appraisal clause, Arbitration, Short-rate cancellation, Notice of cancellation, Nonrenewal, Coverage trigger, Defense within limits, Severability of insureds, Premium audit, Retrospective rating, Schedule rating, Earned premium, Certificate of insurance, Split limits application, Intentional torts, Slander, Conversion, Invasion of privacy, Modified comparative negligence, Pure comparative negligence, Comparative negligence calculation, Legal liability sources, Criminal vs civil, Duty of care to entrants, Dram shop laws, Products liability, Occurrence vs claims-made, Claims-made tail, Common policy conditions, Legal action against insurer, Bankruptcy condition, Supplementary payments limits, Cancellation calculation, Limits calculation, Deductible types, Primary and excess, Contribution by equal shares, Contribution by limits, Duty to defend scope, Reservation of rights, Medical payments vs liability, Personal injury vs bodily injury, Claim vs suit, Negligence defenses, Extended reporting period, Retroactive date
Read the Casualty Insurance Basics study guide
Sample questions & answers
1. Under Alaska law, statements made by an applicant in an application for property or casualty insurance are considered:
Representations, not warranties
AS 21.42.110 provides that all statements in an application are representations and not warranties.
2. Under Alaska law, an incorrect statement in an insurance application prevents recovery under the policy only if it was:
Fraudulent, material, or would have changed the insurer's decision
AS 21.42.110 bars recovery only if the misstatement was fraudulent, material to acceptance of the risk or hazard, or the insurer in good faith would not have issued the policy on the same terms.
3. Under Alaska's definitions of kinds of insurance, boiler and machinery insurance is classified as:
Casualty insurance
AS 21.12.070(a)(7) lists boiler and machinery insurance within casualty insurance.
4. Which kind of insurance does Alaska list within its definition of casualty insurance?
Glass insurance
AS 21.12.070(a) includes vehicle, liability, workers' compensation, burglary and theft, personal property floater, glass, boiler and machinery, credit, malpractice, and elevator insurance.
Practice: Casualty Insurance Basics
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.
