Free Property Insurance Basics Practice Questions
Connecticut Property exam (series 12-CT-19) — 142 practice questions.
Subtopics: Binders, Certificates of insurance, Standard fire policy, Vacancy, Cancellation, Mortgagee clause, Proof of loss, Appraisal, Loss payment, Company's options, Suit against insurer, Abandonment, Pro rata liability, Concealment and fraud, Increased hazard, Package policies, Insurable interest, Actual cash value, Replacement cost, Agreed value, Functional replacement cost, Direct vs indirect loss, Coinsurance purpose, Coinsurance calculation, Deductible, Declarations, Insuring agreement, Exclusions, Conditions, First named insured, Duties after loss, Subrogation condition, Liberalization, Other insurance pro rata, Blanket insurance, Loss payable clause, Construction class, Rate components, Underwriting purpose, Valued policy, Market value, Cancellation short rate, Policy territory, Assignment property, No benefit to bailee, Claim settlement options, Pair and set clause, Specific insurance, Terrorism program, Indirect loss time element, Hazard reduction underwriting, Named perils form, Open perils form, Burden of proof, Proximate cause, Concurrent causation, Anti-concurrent causation clause, Pro rata cancellation, Flat cancellation, Nonrenewal notice, Policy period, Salvage rights, No abandonment clause, Appraisal provision, Notice of loss, Depreciation, Recoverable depreciation, Percentage deductible, Period of restoration, Business income waiting period, Contribution by equal shares, Excess other insurance, Margin clause, Waiver of subrogation, Mysterious disappearance, Inherent vice exclusion, Wear and tear exclusion, Earth movement exclusion, Flood exclusion, Ensuing loss, Ordinance or law exclusion, Sue and labor, Ingress and egress, Reinstatement of limit, Coverage extension, Stated amount, Actual cash value calculation, Deductible application, Coinsurance - adequate insurance, Coinsurance with deductible, Coinsurance - limit cap, Coinsurance - value at time of loss, Coinsurance - who bears shortfall, ACV calculation - contents, Pro rata other insurance calc, Pro rata return premium calc, Pair and set calc, Proximate cause example, Direct loss example, Endorsements, Definitions section, Limits - sublimits, Mortgagee - proof of loss, Mortgagee - premium, Mortgagee - cancellation notice, Subrogation example, Appraisal procedure, Appraisal costs, Proof of loss timing, Burglary definition, Robbery definition, Theft definition, Water damage vs flood, Valued policy law, Liberalization timing, Occurrence, Named insured, Salvage value, Unearned premium, Settlement of claims - deductible, Additional coverages vs extensions, Policy conditions - concealment, Valuation
Read the Property Insurance Basics study guide
Sample questions & answers
1. In Connecticut, a binder for temporary property or casualty insurance may be:
Oral or written, for up to 60 days
Binders or other contracts for temporary insurance may be made orally or in writing for a period not exceeding sixty days.
2. At a Connecticut closing on a loan secured by a one-to-four family home, the lender:
Must accept a written binder as proof of hazard coverage
No person may refuse to accept a written binder from a licensed insurer or its authorized representative as evidence that hazard insurance has been procured at closing.
3. Under Connecticut law, a certificate of insurance issued on a Connecticut risk:
Cannot add rights beyond those in the policy
No person may represent that a certificate confers rights beyond the policy or warrant compliance with a contract's insurance requirements.
4. Which document is NOT a "certificate of insurance" under Connecticut's certificate law?
An automobile insurance identification card
The definition excludes a policy, a binder, an endorsement and an automobile insurance identification or information card.
Practice: Property 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.
