Free Property Casualty Basics Practice Questions
Indiana Personal Lines exam — 130 practice questions.
Subtopics: Comparative negligence, Comparative negligence bar, Fault system, Actual cash value, Replacement cost, Insurable interest property, Named peril vs open peril, Deductible purpose, Coinsurance clause, Proximate cause, Liability vs property, Vicarious liability, Negligence elements, Comparative fault bar, Comparative fault damages, Comparative fault 50 percent, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Named perils, Open perils, Burden of proof, Subrogation, Salvage, Appraisal provision, Pro rata other insurance, Vacancy, Real vs personal property, Negligence, Elements of negligence, Compensatory damages, Punitive damages, Bodily injury, Property damage, Occurrence, Absolute liability, Liability limits, Binder, Endorsement, Stated value vs agreed value, Abandonment, Mortgagee clause, Assignment, Attractive nuisance, Hold harmless agreement, Additional insured, Valued policy, Blanket vs specific, Liability vs property insurance, Duties after loss, Concurrent causation, Conditions section, Definitions section, Pair or set clause, Inflation guard, Aggregate limit, Combined single limit, Sublimit, Retention, Primary vs excess coverage, Excess other insurance clause, Escape other insurance clause, Flat cancellation, Pro rata cancellation, Short-rate cancellation, Nonrenewal, Liberalization clause, No benefit to bailee, Loss payable clause, Sue and labor, Occurrence trigger, Retroactive date, Extended reporting period, Contributory negligence, Last clear chance, Res ipsa loquitur, Assumption of risk, Negligence per se, General vs special damages, Nominal damages, Direct vs consequential loss, Time element coverage, Catastrophe, Floater, Wear and tear exclusion, Inherent vice exclusion, Mysterious disappearance, Pollution exclusion, Earth movement exclusion, Personal injury offense, Duty to defend, Defense within limits, Statute of limitations, Pure premium, Exposure unit, Reasonable repairs, Actual cash value calculation, Valuation calculation, Other insurance calculation, Pro rata refund calculation, Waiver of subrogation, Mortgage clause, Defense costs, Insurable interest limit, Deductibles, Appraisal, Appraisal costs, Suit against insurer, Proof of loss, Loss payment timing, Insurer repair option, Pair or set, Recovered property, Concealment or fraud, Service agreements, Nuclear hazard, Neglect exclusion, Power failure exclusion, Governmental action
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Sample questions & answers
1. Indiana generally follows which negligence rule for most auto accident claims?
Modified comparative fault with a 51% bar
Under Indiana's Comparative Fault Act a claimant recovers reduced damages unless the claimant's fault is greater than the fault of all others (over 50%).
2. Under Indiana's modified comparative fault approach, a claimant is generally barred from recovery when at fault by what amount?
More than 50 percent
A claimant whose fault is greater than 50% of the total fault is barred; at 50% or less, damages are reduced by the claimant's share.
3. Indiana's auto liability system is best described as what?
A tort, at-fault system
Auto injury claims in Indiana are actions based on fault against the responsible driver, governed by the Comparative Fault Act, and owners must carry liability coverage as financial responsibility.
4. Actual cash value is most commonly defined as replacement cost minus what?
Depreciation
Actual cash value is generally replacement cost at the time of loss reduced by depreciation.
Practice: Property Casualty 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.
