Free Other Casualty Practice Questions
Wyoming Casualty exam — 89 practice questions.
Subtopics: TRIA certification, TRIA minimum loss, TRIA program trigger, TRIA federal share, TRIA insurer deductible, TRIA make available, TRIA annual cap, TRIA expiration, Multiple line insurer, Surplus lines conditions, Export for lower rate, Surplus lines broker required, Surplus lines disclosure, Signed SL notice, Surplus lines tax, Surplus lines report, Surplus lines bond, Resident SL license, Home state rule, Exempt commercial purchaser, SL broker paying producers, Wet marine exemption, Nonadmitted contract valid, Premium paid to SL broker, Commercial umbrella, Professional liability, Directors and officers, Employment practices liability, Surety bond, Liquor liability, Cyber liability, Garage and dealers, Excess liability, Umbrella self-insured retention, Medical malpractice, Fidelity bond, Performance bond, License and permit bond, Environmental liability, Personal umbrella, Umbrella drop down, Maintenance of underlying insurance, Umbrella retained limit, Business exclusion, Homeowners additional coverages, Homeowners Section II, Homeowners exclusions, Personal liability, Insurer's right to settle, Errors and omissions, D&O insurance authority, D&O coverage, Fiduciary liability, EPLI, Cyber, Surety bond types, Federal construction bonds, Judicial bonds, Public official bonds, Surety vs insurance, Aircraft liability, Watercraft liability, Pollution liability, Product recall, Nonprofit D&O, Umbrella vs excess, Surety bonds, Surety bond parties, Miller Act, Penal sum, Consent of surety, Fidelity vs surety, ERISA bond, Court bonds, SBA surety guarantee
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Sample questions & answers
1. Under the federal Terrorism Risk Insurance Act, an act of terrorism must be certified by the:
Secretary of the Treasury
TRIA Sec. 102(1) defines an act of terrorism as one certified by the Secretary of the Treasury, in consultation with the Secretary of Homeland Security and the Attorney General.
2. No act may be certified under TRIA unless the resulting property and casualty insurance losses, in the aggregate, exceed:
$5 million
TRIA Sec. 102(1)(B)(ii) bars certification if property and casualty losses from the act do not exceed $5,000,000 in the aggregate.
3. For losses in 2020 and later years, federal TRIA payments are made only if aggregate industry insured losses from certified acts exceed the program trigger of:
$200 million
TRIA Sec. 103(e)(1)(B) sets the program trigger at $200,000,000 for insured losses occurring in calendar year 2020 and thereafter.
4. Above an insurer's TRIA deductible, the federal share of certified terrorism losses is currently:
80 percent
TRIA Sec. 103(e)(1)(A) reduced the federal share by one point a year from 85 percent until it equals 80 percent of losses above the insurer deductible.
Practice: Other Casualty
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.
