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Free Property Casualty Basics Practice Questions

Illinois Personal Lines exam — 90 practice questions.

Subtopics: 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, Vacancy, 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

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Sample questions & answers

1. The main parts of a property and casualty policy can be remembered as DICE, which stands for:

Declarations, insuring agreement, conditions, and exclusions

DICE = Declarations, Insuring agreement, Conditions, and Exclusions, the standard parts of a P&C policy.

2. The declarations page of a policy contains:

The named insured, address, coverage limits, deductible, and premium

The declarations page identifies the insured, property, coverages, limits, deductible, and premium.

3. The insuring agreement of a policy:

States the insurer's promise to pay for covered losses

The insuring agreement is the insurer's core promise describing what it will pay for, subject to the rest of the policy.

4. Exclusions in a policy serve to:

Remove or limit coverage for certain perils, property, or losses

Exclusions specify what is not covered, helping define the scope of coverage and price the policy.

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Practice: Property Casualty Basics

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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 Pennsylvania Insurance Department and the exam administrator before relying on it.