Free Property Casualty Basics Practice Questions
Ohio Personal Lines exam (series 11-43) — 154 practice questions.
Subtopics: Guaranty association, Claim payments, Claims acknowledgment, Guaranty limit, Insurable interest, Indemnity, Actual cash value, Named perils, Hazard, Deductible, Subrogation, Nonpayment cancellation, Claims handling, Claim denials, Unfair claims practices, Matching, Claims payment, Demolition fund, Fire loss certificate, Mine subsidence, Property cancellation notice, Personal lines cancellation, Cancellation refunds, Valued policy law, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Replacement cost, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Open perils, Burden of proof, 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, Additional insured, 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, 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, Valuation calculation, Other insurance calculation, Pro rata refund calculation, Waiver of subrogation, Mortgage clause, Defense costs, Insurable interest limit, Deductibles, Appraisal, Appraisal costs, Suit against insurer, Proof of loss, Loss payment timing, Insurer repair option, Pair or set, Recovered property, Concealment or fraud, Service agreements, Nuclear hazard, Neglect exclusion, Power failure exclusion, Governmental action
Read the Property Casualty Basics study guide
Sample questions & answers
1. If an Ohio homeowners insurer becomes insolvent and is liquidated, covered claims may be paid by:
The Ohio Insurance Guaranty Association
OIGA provides a mechanism for payment of covered claims when a P&C insurer becomes insolvent.
2. An Ohio homeowners insurer sends a partial payment on a claim with a check stating it is a "full and final release." Under Ohio's claims rule, this is permitted only if:
The policy limit was paid or a compromise was agreed
Insurers may not indicate a payment is final or a release unless the policy limit has been paid or the claimant and insurer agreed to a compromise settlement.
3. Under Ohio's P&C claims rule, an insurer must acknowledge a homeowners claim within:
15 days of notification
Insurers must acknowledge receipt of a claim within fifteen days of notification.
4. Regardless of the statutory caps, the Ohio Insurance Guaranty Association is never obligated to pay a claimant more than:
The face amount of the policy the claim arises from
In no event is OIGA obligated to a policyholder or claimant for more than the face amount of the policy from which the claim arises.
Practice: Property Casualty Basics
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.
