AK Property & Casualty study guide
AK Property & Casualty · Work through your exam, one topic at a time.
The Alaska Property and Casualty insurance license is a state producer credential that allows you to sell, solicit, and negotiate property and casualty insurance products in Alaska. It is intended for people entering the insurance industry - new agents, agency staff, and producers moving into the state - and for those adding a property and casualty line to an existing license. Before a license is issued, candidates must pass the Alaska Property and Casualty licensure examination, which is delivered through Pearson VUE's OnVUE online proctored testing platform rather than at a traditional test center. The exam samples four broad areas: general insurance principles and concepts, property insurance basics, casualty insurance basics, and Alaska insurance regulations and statutes. The AK Property & Casualty study guide has 4 sections and about 1,524 words.
01Insurance Principles and Concepts
Insurance handles pure risk - chance of loss only, with no chance of gain. Speculative risk (a business venture, a wager) is not insurable.
368 words, about 2 min02Property Insurance Basics
Questions test which perils apply to which property. In the HO-3 , the dwelling and other structures are insured on an open peril (special) basis while personal property is named peril ; the HO-5 is open peril for both; the HO-2 is named peril throughout; the HO-4 (renters) covers contents, not the building; the HO-6 serves condo unit-owners; the HO-8 modifies for older homes using functional replacement cost.
369 words, about 2 min03Casualty Insurance Basics
Liability coverage pays on behalf of an insured who is legally liable for injury to others, and provides a defense. Negligence requires duty, breach, proximate cause, and damages.
402 words, about 2 min04Alaska Insurance Regulations and Statutes
Alaska insurance is regulated by the Division of Insurance , part of the Department of Commerce, Community, and Economic Development, headed by the Director of Insurance. The governing law is AS Title 21 (the Alaska Insurance Code) , with regulations in 3 AAC .
385 words, about 2 min