ASLI study plan

Define the core risk-management vocabulary (peril, hazard, exposure, retention, transfer) in your own words

Distinguish insurable from non-insurable risks using the criteria of loss measurability, definiteness, and catastrophic potential

Explain how pooling and the law of large numbers allow insurers to predict aggregate losses

Identify the six characteristics of an insurable risk and apply them to three everyday scenarios

Compare the major life product types (term, whole life, universal, variable) by cost structure and cash-value behavior

Trace how mortality tables and interest assumptions drive net premium calculations

Describe the underwriting decision flow from application through classification to offer

Summarize the roles of the agent, underwriter, actuary, and claims examiner in the life cycle of a policy

Apply the underwriting risk factors (age, health, occupation, avocation, financial capacity) to hypothetical applicants

Interpret the standard classification outcomes (preferred, standard, substandard, declined) and their premium consequences

Explain contestability, suicide, and misstatement-of-age clauses and when each applies

Distinguish nonforfeiture options, dividend options, and settlement options by function

Map the four elements of a valid contract onto an insurance policy

Explain the doctrines of indemnity, insurable interest, utmost good faith, and adhesion with an example of each

Identify the purpose of the declarations, insuring agreement, conditions, and exclusions sections

Distinguish representations, warranties, and concealment and their effect on claim outcomes

Differentiate major medical, disability income, and accidental death coverage by trigger and benefit form

Explain deductibles, coinsurance, copays, and out-of-pocket maximums and compute a member's cost sharing on a sample claim

Describe the underwriting and eligibility considerations unique to health insurance, including preexisting-condition treatment

Outline how coordination of benefits and subrogation prevent duplicate recovery

Distinguish property from casualty exposures and identify the perils typically covered versus excluded

Explain coinsurance, actual cash value, replacement cost, and deductibles in property loss settlement

Describe the liability concept of negligence and the four elements a claimant must prove

Compare the major commercial and personal lines coverages by the exposure each addresses

Outline the purposes of insurance regulation: solvency, market conduct, and consumer protection

Describe the roles of the state insurance department and the commissioner in licensing and rate review

Apply the producer's ethical duties around suitability, disclosure, and handling of client funds

Identify common unfair trade practices and the conduct that triggers disciplinary action

Synthesize all six domains into a single weighted review schedule matching exam percentages

Diagnose your three weakest subdomains from practice results and target them with focused drills

Complete timed practice sets under exam pacing and analyze every missed item for root cause

Consolidate a one-page formula and definition sheet for final review