1. Exam Prep
  2. Connecticut
  3. Property & Casualty
  4. General Insurance Concepts

Free General Insurance Concepts Practice Questions

Connecticut Property & Casualty exam — 39 practice questions.

Subtopics: Peril, Hazard, Risk transfer, Law of large numbers, Adverse selection, Utmost good faith, Handling risk, Insurer classifications, Elements of a contract, Insurable risk, Hazards, Definitions, Authority of producers, Legal interpretations, Principle of indemnity, Concealment, Warranty, Waiver and estoppel, Subrogation, Reinsurance, Admitted vs nonadmitted, Domestic foreign alien, Aleatory contract, Contract of adhesion, Unilateral contract, Apparent authority, Rebating, Risk pooling, Pro-rata cancellation

Read the General Insurance Concepts study guide

Sample questions & answers

1. A peril in insurance is:

A cause of loss, such as fire, theft, or windstorm

A peril is the cause of a loss, such as fire, theft, or windstorm.

2. A physical hazard is best described as:

A tangible condition that increases the chance or severity of a loss

A physical hazard is a tangible condition, such as oily rags, that increases the chance or severity of a loss.

3. Purchasing a commercial property policy is an example of risk:

Transfer

Buying insurance transfers the financial consequences of a risk to the insurer.

4. The law of large numbers helps insurers:

Predict losses more accurately as the number of similar exposures grows

As the number of similar exposures grows, the law of large numbers improves the accuracy of loss predictions.

All Property & Casualty topics

Practice: General Insurance Concepts

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.