Free Property Casualty Basics Practice Questions
Rhode Island Personal Lines exam — 126 practice questions.
Subtopics: Comparative negligence, Comparative negligence calculation, Insurable interest, Actual cash value, Subrogation, Salvage, Proximate cause, Indirect loss, Open perils, Binder, Declarations page, Endorsement, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Replacement cost, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Named perils, Burden of proof, 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. Rhode Island allocates fault in liability claims under a pure comparative negligence rule, meaning a claimant:
Recovers damages reduced by his or her fault
Under R.I. Gen. Laws 9-20-4, a claimant's negligence does not bar recovery; damages are diminished in proportion to his or her share of negligence, even above 50 percent.
2. Under Rhode Island's pure comparative negligence standard, a driver found seventy percent at fault for a collision generally:
May still recover thirty percent of their damages
Rhode Island's pure comparative negligence rule reduces damages by the claimant's share of fault without a 50 percent bar, so a driver 70 percent at fault may recover 30 percent of damages.
3. In property insurance, insurable interest must generally exist:
At the time of the loss
In property insurance, the insured must have an insurable interest at the time of the loss.
4. Actual cash value is generally calculated as:
Replacement cost minus depreciation
Actual cash value generally equals the replacement cost of the property 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.
