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Free Property and Casualty Insurance Basics Practice Questions

Missouri Property & Casualty exam — 66 practice questions.

Subtopics: Declarations, Insuring agreement, Conditions, Exclusions, Morale hazard, Moral hazard, Coinsurance requirement, Valued policy, Replacement cost on contents, Occurrence, Limit of insurance, Insurable interest, Loss valuation, Coinsurance, Negligence, Damages, Types of loss, Insurer provisions, Other insurance, Liability, Limits of liability, Deductibles, Policy structure, Policy conditions, Actual cash value, Replacement cost, Pair and set clause, Vacancy provision, Mortgagee rights, Appraisal condition, Proof of loss, Salvage and abandonment, Liberalization clause, Assignment condition, Binder, Sublimit, Named perils vs open perils, Burden of proof, Direct vs indirect loss, Comparative negligence, Strict liability, Vicarious liability, Punitive damages, Special vs general damages, Proximate cause, Absolute liability, Hold harmless, Bailee liability, Attractive nuisance, Res ipsa loquitur, Coinsurance calculation, Actual cash value calculation, Split limits application

Read the Property and Casualty Insurance Basics study guide

Sample questions & answers

1. The declarations section of a property policy primarily contains:

The who, what, where, and how much of the coverage

The declarations identify the insured, property, coverages, limits, and premium for the policy.

2. The insuring agreement of a policy:

States the insurer's basic promise of coverage

The insuring agreement sets out the insurer's core promise of what it will cover.

3. Policy conditions are:

The rules and duties both parties must follow

Conditions state the rights and duties of the parties, such as how to file a claim.

4. An exclusion in a policy:

Removes specified losses, perils, or property from coverage

Exclusions specify losses, perils, or property the policy does not cover.

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Practice: Property and Casualty Insurance 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.