AK Property & Casualty study plan

Define and give one original example each for risk, peril, hazard, loss exposure, and pure vs. speculative risk

Distinguish indemnity, insurable interest, utmost good faith, subrogation, and contribution, and state which party each protects

Classify insurer types (stock, mutual, reciprocal, fraternal) and agency authority types (express, implied, apparent) with an example of each

Explain the difference between a representation, a warranty, and concealment, and describe the effect of each on a claim

Identify the four required elements of a valid insurance contract and the characteristics unique to insurance (adhesion, aleatory, unilateral, conditional)

Explain how offer, acceptance, consideration, and legal purpose apply to an application and policy issuance

Describe the purpose of each component of a policy: declarations, insuring agreement, conditions, exclusions, definitions, endorsements

Outline the structure of a homeowners policy and name the coverage parts (A through F) in order

Compare HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8 by named perils vs. open perils and by eligible insured

Map each homeowners Coverage Part (A-F) to what it pays, its special limits, and its typical exclusions

Apply the loss settlement, deductible, and coinsurance/replacement-cost provisions to sample losses

Distinguish dwelling policy forms and when a DP is used instead of an HO policy

Identify commercial property coverage parts (building, BPP, personal property of others, loss of income) and what each responds to

Contrast basic, broad, and special causes-of-loss forms and list perils added at each step

Calculate coinsurance penalties and determine claim payments under ACV, replacement cost, and functional replacement cost

Apply common property exclusions and endorsements to short scenarios

Define negligence and list its four elements, then apply them to three short fact patterns

Distinguish legal liability from assumed liability and identify the three types of damages (special, general, punitive)

Explain common liability defenses (comparative/contributory negligence, assumption of risk, statute of limitations) and their effect

Describe how occurrence vs. claims-made triggers and aggregate vs. per-occurrence limits change coverage

Break down the personal auto policy by part (liability, medical payments, uninsured motorist, physical damage) and list key exclusions

Compare personal auto, commercial auto, garage, and motorcycle coverage needs for a given exposure

Explain homeowners liability coverage (Coverage E/F) and how it interacts with excess and umbrella policies

Summarize workers' compensation benefits, employer's liability, and the exclusive remedy concept

Match specialty casualty lines (umbrella, professional liability, BOP liability) to described exposures

Outline producer licensing requirements, appointment, and continuing education obligations under Alaska rules

Identify prohibited unfair trade practices and the penalties that follow each

State the rules for policy cancellation, nonrenewal, and premium refunds for personal and commercial lines

Explain the roles of the Alaska guaranty association, surplus lines placement, and the state's market assistance mechanisms

Distinguish the regulatory bodies (division of insurance, director's authority) and the complaint/appeal process

Re-drill every missed question from weeks 1-7 and restate the underlying rule for each

Take two timed, full-length mixed practice exams under test conditions

Re-read the Alaska reference sheet and the HO/property comparison tables for retention

Rank remaining weak topics and spend the final sessions only on the top five