Free Property and Casualty Insurance Basics Practice Questions
Ohio Property & Casualty exam (series 11-36) — 148 practice questions.
Subtopics: Guaranty association, Guaranty cap, Unfair claims, Claims communications, Insurable interest, Indemnity, Actual cash value, Replacement cost, Perils, Deductible, Proximate cause, Subrogation, Controlled business, Commercial cancellation, Nonpayment cancellation, Medical malpractice cancellation, Claims handling, Replacement cost claims, Claim denials, Multiple liability insurers, Unfair claims practices, Matching, Claims payment, Claim files, Premium increase notice, Commercial nonrenewal, Demolition fund, Fire loss certificate, Mine subsidence, Property cancellation notice, Personal lines cancellation, Cancellation refunds, Valued policy law, Loss valuation, Coinsurance, Negligence, Damages, Types of loss, Insurer provisions, Other insurance, Liability, Limits of liability, Deductibles, Policy structure, Policy conditions, 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, Absolute liability, Hold harmless, Bailee liability, Attractive nuisance, Res ipsa loquitur, Coinsurance calculation, Actual cash value calculation, Split limits application, Underwriting, Credit-based insurance scores, Loss ratio, Insureds, Cancellation, Policy territory, No benefit to bailee, Duty to defend, Premium audit, Claim settlement, Appraisal, Duties after loss, Abandonment, Retrospective rating, Class rating, Judgment rating
Read the Property and Casualty Insurance Basics study guide
Sample questions & answers
1. What is the purpose of the Ohio Insurance Guaranty Association?
To pay covered claims when a P&C insurer becomes insolvent
OIGA provides a mechanism for paying covered claims and reducing delay and loss to claimants and policyholders when an insurer becomes insolvent.
2. A pedestrian is killed by the insured of an insolvent Ohio insurer; the estate files a wrongful death claim and the spouse files a loss of consortium claim. For the Ohio Insurance Guaranty Association's $300,000 limit, these are treated as:
A single claim subject to one $300,000 limit
All claims arising out of bodily injury or death to any one person constitute a single claim, including consortium and wrongful death claims.
3. As a general business practice, an Ohio insurer fails to offer fair amounts on claims where liability has become reasonably clear. This violates:
Ohio's unfair claims settlement practices rule
Rule 3901-1-07 makes it unfair, when done as a general business practice, not to offer fair and reasonable amounts on claims where liability has become reasonably clear.
4. Under Ohio's P&C claims rule, an insurer must respond to a claimant's communication that reasonably calls for a reply within:
15 days
An insurer must respond within fifteen days to any claimant communication that suggests a response is appropriate (unless suit has been filed).
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Practice: Property and Casualty Insurance 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.
