Free Casualty Insurance Basics Practice Questions
Kentucky Casualty exam — 132 practice questions.
Subtopics: Kinds of insurance, Liability policies, Comparative fault, 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 Kentucky's definitions of the kinds of insurance, workers' compensation and employer's liability insurance is a form of:
Casualty insurance
KRS 304.5-070(1)(c) lists workers' compensation and employer's liability among the kinds of casualty insurance.
2. Kentucky's insurance code classifies glass insurance and boiler and machinery insurance as kinds of:
Casualty insurance
KRS 304.5-070 places glass, boiler and machinery, burglary and theft, and leakage and fire extinguishing equipment insurance within casualty insurance.
3. Insurance against loss by burglary, theft, robbery, forgery, and vandalism is defined in Kentucky's insurance code as:
Casualty insurance
Burglary and theft insurance, including vandalism and malicious mischief, is a kind of casualty insurance under KRS 304.5-070(1)(d).
4. After an accident for which the insured may be liable, the insurer and the insured agree to cancel the liability policy back to a date before the accident. Under Kentucky law, this agreement is:
Void
KRS 304.20-030 prohibits retroactive annulment of a liability policy after an injury or damage occurs; any such attempt is void.
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.
