AMF Damage Insurance study plan

Define the core concepts of damage insurance (insurable interest, indemnity, subrogation, utmost good faith) in your own words from memory

Map the regulatory framework: identify the roles of the AMF, the Insurers Act, and the distribution requirements for representatives

Explain the claims-handling and policy-analysis obligations imposed on representatives

Distinguish the three main categories of damage insurance (property, liability, automobile) and give two examples of each

Outline the structure of a standard property policy (declarations, insuring agreements, conditions, exclusions) from memory

Explain the principle of indemnity and apply it to actual cash value versus replacement cost calculations

Solve five sample loss-settlement problems using depreciation and coinsurance formulas

List the common property exclusions and justify why each exists

Compare named-peril versus all-risk coverage and identify which perils are typically excluded

Explain the co-insurance clause and calculate the penalty for underinsurance in three scenarios

Describe coverage for additional living expenses, debris removal, and by-laws in your own words

Analyze how deductibles, limits, and policy conditions interact in a claim

Distinguish general liability, professional liability, and product liability by exposure type

Explain the trigger of coverage and the role of occurrence versus claims-made forms

Describe the main exclusions in a commercial general liability policy and the rationale for each

Apply the duty-to-defend concept to a hypothetical claim scenario

Explain the components of automobile liability coverage and the minimum required limits

Describe the difference between collision, comprehensive, and all-perils coverage

Analyze how fault determination and no-fault regimes affect claims payment

Identify the coverage gaps when a driver operates a vehicle not listed on the policy

Explain the interaction between automobile insurance and other damage coverage in a multi-vehicle claim

Describe the basic concepts of life and health insurance relevant to damage insurance practice (beneficiary, insured, policyholder)

Identify how personal insurance concepts intersect with damage insurance referrals and ethical duties

Summarize the endorsement types that modify automobile policies

Apply the AMF's ethical standards to conflict-of-interest, disclosure, and suitability scenarios

Analyze three case studies involving misrepresentation, omission, or pressure tactics and identify the correct conduct

Explain the representative's duties regarding client information, privacy, and record-keeping

Draft responses to two client complaints demonstrating professional communication

Complete a full-length timed practice exam under exam conditions

Review every missed question and map it back to the relevant domain

Re-drill the two weakest domains with targeted practice sets

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