Free Property Casualty Basics Practice Questions
Nebraska Personal Lines exam (series 13-21) — 172 practice questions.
Subtopics: Comparative negligence, Rate standards, Guaranty association, Insurable interest, Actual cash value, Subrogation, Open peril, Named peril, Indirect loss, Proximate cause, Binder, Endorsement, Pair and set, 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, Cancellation provisions required, Rate filing effective date, Consent to rate, Prior approval lines, Auto rating disclosure, Residual market agreements, Policy form standards, Matching, Consequential damage in repairs, Actual cash value worksheet, Nominal value property, Failure to exhibit property, Comparative negligence math, Equal fault, Joint and several liability, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Replacement cost, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Named perils, Open perils, Burden of proof, 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, Vicarious liability, Liability limits, 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
Read the Property Casualty Basics study guide
Sample questions & answers
1. Nebraska allocates fault among parties in a liability claim under a system of:
Modified comparative negligence with a 50 percent bar
Section 25-21,185.09 reduces a claimant's damages in proportion to the claimant's negligence and bars recovery if that negligence is equal to or greater than the total negligence of all defendants.
2. Property and casualty rates used in Nebraska must not be:
Excessive, inadequate, or unfairly discriminatory
Section 44-7502(2) states a purpose of the Rate and Form Act is to protect policyholders against excessive rates and the adverse effects of inadequate or unfairly discriminatory rates.
3. If a Nebraska property and casualty insurer becomes insolvent, certain covered claims may be paid by the:
Nebraska Property and Liability Insurance Guaranty Association
Section 44-2401 establishes the Nebraska Property and Liability Insurance Guaranty Association to pay certain claims against insolvent insurers.
4. In property insurance, insurable interest must exist:
At the time of the loss
In property insurance, insurable interest must exist at the time of the loss to collect.
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.
