Free Property and Casualty Insurance Basics Practice Questions
New Hampshire Property & Casualty exam (series 12-64) — 149 practice questions.
Subtopics: Comparative fault, Occurrence policy, Claims-made policy, Peril versus hazard, Vacancy, Bailee, Valued policy, Per-occurrence limit, Aggregate limit, Abandonment, Short-rate cancellation, Concealment, 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, Increase in hazard, Excepted property, Removal, Perils not included, Neglect, Mortgagee clause, Proof of loss, Appraisal, Suit against insurer, Pro rata liability, Company options, Insured cancellation, Subrogation, 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, Commercial cancellation scope, Commercial cancellation grounds, Commercial cancellation notice, Commercial nonrenewal, Commercial renewal premiums, Insured's cancellation, Criminal fines, Schedule rating, Large commercial policyholders, Joint and several liability, Insurable interest, Loss valuation, Coinsurance, Negligence, Damages, Types of loss, Insurer provisions, Other insurance, Liability, Limits of liability, Deductibles, Policy structure, Policy conditions, Actual cash value, Replacement cost, Pair and set clause, Vacancy provision, Mortgagee rights, Appraisal condition, Salvage and abandonment, Liberalization clause, Assignment condition, Binder, Sublimit, Named perils vs open perils, Burden of proof, Direct vs indirect loss, Comparative negligence, Strict liability, Vicarious liability, Punitive damages, Special vs general damages, Proximate cause, Absolute liability, Hold harmless, Bailee liability, Attractive nuisance, Res ipsa loquitur, Coinsurance calculation, Actual cash value calculation, Split limits application, Underwriting, Credit-based insurance scores, Loss ratio, Insureds, Cancellation, Policy territory, No benefit to bailee, Duty to defend, Premium audit, Claim settlement, Duties after loss, Retrospective rating, Class rating, Judgment rating
Read the Property and Casualty Insurance Basics study guide
Sample questions & answers
1. A New Hampshire driver suing another driver for injuries is found 20 percent at fault. Under the state's comparative fault statute, the injured driver:
Recovers damages reduced by 20 percent
RSA 507:7-d lets a plaintiff recover if his or her fault was not greater than the defendant's, with damages diminished in proportion to the plaintiff's fault.
2. An occurrence-based liability policy covers claims arising from events that happen:
During the policy period
An occurrence policy responds to covered events that occur during the policy period even if the claim is filed later.
3. A claims-made liability policy generally covers a loss only if:
The claim is first made in the period or ERP
A claims-made policy covers claims first made during the policy period or any applicable extended reporting period, subject to any retroactive date.
4. Which statement best distinguishes a peril from a hazard?
A peril causes loss; a hazard increases it
A peril is the actual cause of loss, while a hazard is a condition that increases the likelihood or severity of a loss.
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Practice: Property and 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.
