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  4. Property Casualty Basics

Free Property Casualty Basics Practice Questions

Arizona Personal Lines exam — 98 practice questions.

Subtopics: First-party coverage, Third-party coverage, Policy limit, Coinsurance, Named insured, Vacancy, Deductible purpose, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Actual cash value, Replacement cost, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Named perils, Open perils, Burden of proof, Subrogation, Salvage, Appraisal provision, Pro rata other insurance, Real vs personal property, Negligence, Elements of negligence, Compensatory damages, Punitive damages, Bodily injury, Property damage, Occurrence, Absolute liability, Vicarious liability, Comparative negligence, Liability limits, Binder, Endorsement, Stated value vs agreed value, Abandonment, Mortgagee clause, Assignment, Proximate cause, Attractive nuisance, Hold harmless agreement, Certificate of insurance, 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, Self-insured 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

Read the Property Casualty Basics study guide

Sample questions & answers

1. In personal lines, first-party coverage refers to coverage that pays:

The insured's own losses

First-party coverage pays the insured's own losses, such as damage to the insured's property.

2. Third-party liability coverage pays for:

Claims by others against the insured

Third-party (liability) coverage responds to claims made by others against the insured.

3. A policy limit is:

The maximum amount the insurer will pay for a covered loss

The policy limit is the most the insurer will pay for a covered loss under the applicable coverage.

4. Coinsurance in property insurance encourages the insured to:

Insure the property to a stated percentage of its value

Coinsurance encourages insuring to a specified percentage of value, or the insured shares more of a loss.

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Practice: Property Casualty Basics

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.