Free Property Casualty Basics Practice Questions
New Hampshire Personal Lines exam (series 12-86) — 172 practice questions.
Subtopics: Comparative negligence, Insurable interest, Indemnity, Actual cash value, Deductible, Coinsurance penalty, Other insurance, Subrogation, Proximate cause, Named perils, Salvage, Standard fire policy, Package policies, Valued policy law, Partial fire loss, Fire loss adjustment, Fire loss payment, Incidental costs, Option to rebuild, Insurer neglect, Denial notice, Vacancy, Increase in hazard, Excepted property, Removal, Perils not included, Neglect, Mortgagee clause, Proof of loss, Appraisal, Abandonment, Suit against insurer, Pro rata liability, Company options, Insured cancellation, Binders, Personal property cancellation scope, Homeowners cancellation grounds, Homeowners cancellation notice, Credit-based decisions, Prohibited underwriting, Non-auto total losses, Contractors, Contractor choice, Hidden damage, Suspicious fires, Fire loss reports, Criminal fines, Comparative fault, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Replacement cost, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Open perils, Burden of proof, Appraisal provision, Pro rata other insurance, Real vs personal property, Negligence, Elements of negligence, Compensatory damages, Punitive damages, Bodily injury, Property damage, Occurrence, Absolute liability, Vicarious liability, Liability limits, Binder, Endorsement, Stated value vs agreed value, 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 costs, 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. New Hampshire uses modified comparative fault. An injured party may recover damages (reduced by his or her own share) only if that party's fault was:
Not greater than the defendants' fault
RSA 507:7-d bars recovery only when the plaintiff's fault is greater than that of the defendant or defendants in the aggregate; otherwise damages are reduced proportionally.
2. For property insurance, the insured generally must have an insurable interest in the property:
At the time of the loss
Property insurance requires an insurable interest at the time of loss to recover.
3. The principle of indemnity in property insurance means the insured should be:
Restored to the pre-loss position
Indemnity restores the insured to approximately the pre-loss financial position without profit.
4. Actual cash value is most commonly calculated as:
Replacement cost less depreciation
Actual cash value is generally replacement cost minus 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.
