Free Casualty Insurance Basics Practice Questions
Nebraska Casualty exam (series 13-23) — 173 practice questions.
Subtopics: Guaranty association purpose, Guaranty association membership, Covered claim cap, Workers compensation claims, Unearned premium, Guaranty association accounts, Advertising the guaranty association, Exhaustion of other coverage, Excluded amounts, Claims after insolvency, Assessments, Lines covered, Valued policy law, Valued policy perils, Valued policy conditions, Valued policy property type, Contents in valued-policy loss, Standard fire policy, Nuclear exclusion, Misrepresentation, Breach of warranty, Suit limitation clause, Attorney fees, Cancellation notice, Nonpayment notice, Cancellation reasons, Short-term policies, Notice content, Mailing proof, Exceptions to 44-522, Substitution of coverage, Premium finance cancellation, Cancellation provisions required, Rate standards, Rate filing effective date, Consent to rate, Prior approval lines, Auto rating disclosure, Residual market agreements, Policy form standards, Workers compensation forms, Comparative negligence, Comparative negligence math, Equal fault, Joint and several liability, Compensatory damages, Special damages, General damages, Punitive damages, Strict liability, Vicarious liability, Absolute liability, Negligence elements, Proximate cause, 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, 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. The Nebraska Property and Liability Insurance Guaranty Association exists to:
Pay certain covered claims against insolvent member insurers
Section 44-2401 states the act's purpose is to provide a method for paying certain claims against insolvent insurers, avoid delay and financial loss, and assess the cost among insurers.
2. Membership in the Nebraska Property and Liability Insurance Guaranty Association is:
A condition of a member insurer's authority to do business in Nebraska
Section 44-2404 requires member insurers to be and remain members of the association as a condition of their authority to transact insurance in Nebraska.
3. For most covered claims other than workers' compensation, the Nebraska Property and Liability Insurance Guaranty Association pays no more than:
$300,000 per claim
Section 44-2406(1) limits the obligation to the amount of each covered claim not exceeding $300,000, except workers' compensation claims are paid as required by law.
4. When a workers' compensation insurer becomes insolvent, the Nebraska Property and Liability Insurance Guaranty Association pays covered workers' compensation claims:
In the amount required by law
Section 44-2406(1) excepts workers' compensation from the $300,000 cap: the association pays the amount required by law on such claims.
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.
