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Free Property Casualty Basics Practice Questions

Wisconsin Personal Lines exam — 101 practice questions.

Subtopics: Insurable interest property, Named perils vs open perils, Direct loss, Indirect loss, Peril vs hazard, Liability exposure, Negligence elements, Vicarious liability, Absolute liability, Liberalization, 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, 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, Actual cash value calculation

Read the Property Casualty Basics study guide

Sample questions & answers

1. For property insurance, insurable interest must exist:

At the time of the loss

In property insurance, the insured must have an insurable interest at the time of loss to collect.

2. A named-perils property policy covers:

Only the perils specifically listed in the policy

Named-perils coverage applies only to perils specifically listed, unlike open-perils which covers all but excluded causes.

3. A direct loss in property insurance is:

Physical damage to covered property from a covered peril

A direct loss is physical damage to the covered property itself caused by a covered peril.

4. An indirect (consequential) loss is one that:

Results as a consequence of a direct loss, such as loss of use

Indirect losses, like additional living expenses, flow as a consequence of a direct physical loss.

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Practice: Property Casualty 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 Pennsylvania Insurance Department and the exam administrator before relying on it.