Free Casualty Insurance Basics Practice Questions
Wyoming Casualty exam — 161 practice questions.
Subtopics: Midterm cancellation grounds, Nonpayment notice, Other cancellation notice, Precise reason, New policy exemption, Nonrenewal notice, Malpractice nonrenewal, Nonrenewal reason, Renewal on less favorable terms, Late renewal terms remedy, Notice delivery, Proof of mailing, Refund on cancellation, Block cancellation, Guaranteed annual premium, Loss of reinsurance, Cancellation law scope, Affiliate transfer, Group P&C termination, Group master termination, Binder form, Binder duration, Binder extension, Binder terms, P&C claim payment deadline, Unreasonable refusal, Proof of loss forms, No waiver, Venue, Casualty insurance includes, Professional liability as casualty, Boiler and machinery, Comparative fault bar, Comparative fault reduction, 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
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Sample questions & answers
1. Under Wyo. Stat. 26-35-202, an insurer may cancel a property or casualty policy before the end of its term for each of the following reasons EXCEPT:
the insured filed one covered claim
Section 26-35-202(a) limits midterm cancellation to nonpayment of premium, material misrepresentation, substantial change in the risk, or substantial breach of contractual duties, conditions or warranties.
2. A Wyoming property or casualty insurer cancelling a policy midterm for nonpayment of premium must give written notice at least how many days before the cancellation date?
10 days
Wyo. Stat. 26-35-202(b)(i) requires written notice stating the precise reason not less than ten days before the effective date when cancellation is for nonpayment.
3. When a Wyoming property or casualty insurer cancels midterm for a substantial change in the risk, written notice must be given at least:
45 days before cancellation
Wyo. Stat. 26-35-202(b)(ii) requires at least forty-five days' notice in all cases other than nonpayment (and other than material misrepresentation).
4. A Wyoming notice of midterm cancellation for nonpayment, change in risk or breach of conditions must:
state the precise reason for cancellation
Wyo. Stat. 26-35-202(b) provides that the cancellation is not effective unless written notice stating the precise reason has been made as provided in 26-35-101.
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.
