Free Casualty Insurance Basics Practice Questions
West Virginia Casualty exam — 130 practice questions.
Subtopics: Suit limitation clauses, Kinds of insurance, 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, Burden of proof, 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. A West Virginia policy (other than marine and other than the standard fire policy) may not limit the time to sue the insurer to less than:
Two years from when the cause of action accrues
W. Va. Code 33-6-14 voids policy conditions limiting suits to less than two years from accrual (one year for marine) and does not apply to the standard fire policy.
2. Under W. Va. Code 33-1-10, fidelity insurance guaranteeing the honesty of persons in positions of trust is classified as:
Surety insurance
W. Va. Code 33-1-10(f)(1) lists fidelity insurance under surety.
3. West Virginia classifies insurance against loss from burglary, theft, robbery, forgery and vandalism as:
Casualty insurance
W. Va. Code 33-1-10(e)(3) includes burglary and theft insurance within casualty insurance.
4. Compensatory damages are intended to:
Reimburse the injured party for losses actually suffered
Compensatory damages reimburse the injured party for actual losses, both economic and non-economic.
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.
