Free Casualty Insurance Basics Practice Questions
Indiana Casualty exam — 130 practice questions.
Subtopics: Comparative fault bar, Comparative fault damages, Comparative fault 50 percent, 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
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Sample questions & answers
1. In an Indiana negligence suit, when is the injured claimant barred from any recovery?
When the claimant's fault is greater than all others' combined
Under Indiana's Comparative Fault Act, a claimant is barred if the claimant's contributory fault is greater than the fault of all persons whose fault proximately contributed to the damages.
2. An Indiana jury finds a claimant 30% at fault and the defendant 70% at fault, with $100,000 in damages. What verdict is entered?
$70,000 for the claimant
The jury multiplies the defendant's percentage of fault by total damages, so 70% of $100,000 yields $70,000.
3. An Indiana jury finds the claimant exactly 50% at fault. What happens?
The claimant recovers 50% of the damages
The bar applies only when the claimant's fault is greater than 50%; at 50% the jury reduces damages by the claimant's share.
4. Compensatory damages are intended to:
Reimburse the injured party for losses actually suffered
Compensatory damages reimburse the injured party for actual losses, both economic and non-economic.
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.
