Free Property and Casualty Insurance Basics Practice Questions
Wisconsin Property & Casualty exam — 107 practice questions.
Subtopics: Comparative fault bar, Tort vs contract, Compensatory damages, Punitive damages, General vs special damages, Bailment, Attractive nuisance, Duty to mitigate, Hold harmless agreement, Res ipsa loquitur, Intervening cause, Statute of limitations, Replacement cost, Lender insurance requirement, Mortgage clause $500, Choice of law, Domestic abuse - innocent insured, Domestic abuse information, Standard fire policy, Required property clauses, Traditional fire policy perils, Lender requirement calculation, Mortgagee as named insured, Joint and several liability, Direct action, Insured bankruptcy, Liability notice provision, Appraisal and arbitration, 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, Pair and set clause, Vacancy provision, Mortgagee rights, Appraisal condition, Proof of loss, 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, Special vs general damages, Proximate cause, Absolute liability, Hold harmless, Bailee liability, 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, Appraisal, Duties after loss, Abandonment, Retrospective rating, Class rating, Judgment rating
Read the Property and Casualty Insurance Basics study guide
Sample questions & answers
1. Under Wisconsin’s comparative negligence statute, a claimant is barred from recovering against a particular defendant when the claimant’s negligence is:
Greater than that defendant’s negligence
Recovery is allowed if the claimant’s negligence was not greater than that of the person against whom recovery is sought, measured separately against each defendant.
2. A tort differs from a breach of contract because a tort is:
A civil wrong independent of a contract
A tort is a civil wrong, other than breach of contract, for which the law provides a remedy in damages.
3. Compensatory damages are intended to:
Reimburse the injured party’s actual losses
Compensatory damages reimburse the injured party for actual losses, such as medical costs and lost wages.
4. Punitive damages are awarded primarily to:
Punish and deter especially wrongful conduct
Punitive damages punish egregious conduct and deter similar behavior, beyond compensating actual 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.
