Free Casualty Insurance Basics Practice Questions
Oregon Casualty exam (series 12-13) — 152 practice questions.
Subtopics: Binders, Binder duration, Binder terms, Representations, Misrepresentation defense, Insurable interest, Policy delivery, Guaranty association, Guaranty limit, Guaranty workers comp, Guaranty exclusions, Guaranty membership, Guaranty net worth, Guaranty assessments, Unfair discrimination location, Commercial liability cancellation, Commercial liability notice, Cancellation hearing, Burden of proof, Commercial nonrenewal, Renewal on worse terms, Proof of mailing, Exempt policies, Commercial new policy, Multiyear guarantee, 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, 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 Oregon law, a binder for property or casualty insurance may be made:
Orally or in writing
ORS 742.043(1) allows binders or other contracts for temporary insurance to be made orally or in writing.
2. Unless extended with the Director's approval, an Oregon P&C insurer must issue a policy in place of a binder within:
90 days after the binder is issued
ORS 742.043(2) requires a policy to be issued within 90 days after issue of a binder; extension beyond 90 days needs the Director's written approval or rule.
3. An Oregon binder is deemed to include:
The usual terms of the policy it binds
ORS 742.043(1) deems a binder to include all the usual terms of the policy as to which it was given, except as superseded by its clear terms.
4. Under ORS 742.013, statements an applicant makes in an Oregon insurance application are treated as:
Representations, not warranties
ORS 742.013(1) deems application statements to be representations and not warranties.
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.
