C12: Insurance on Property study plan
C12: Insurance on Property · Give each week a clear focus.
8 weeks · About 7 hours per week
Introduction to Property Insurance and the Insurance Contract & Property Insurance Policy Structure and Statutory Conditions
Define the core property insurance terms and the roles of the parties to the contract, then write them from memory
Explain how the statutory conditions interact with the policy declarations, insuring agreements, and exclusions
Identify the statutory conditions that restrict the insurer's ability to deny a claim for technical breaches
Distinguish the statutory conditions from the policy conditions the insurer writes itself
Your checkpoint
A one-page written summary that lists all statutory conditions with a plain-language explanation of each and one example of how each could affect a claim
Property Insurance Policy Structure and Statutory Conditions & Insurable Interest, Indemnity, and Valuation of Property Losses
Interpret policy structure by mapping declarations, insuring agreement, exclusions, and conditions onto a sample policy
Apply the principle of indemnity to calculate the maximum payable for a partial loss
Determine insurable interest in at least five different fact patterns and justify each conclusion
Calculate actual cash value using both replacement cost less depreciation and the market value approach
Your checkpoint
A worked problem set of eight valuation and insurable-interest scenarios with calculations and a short justification for each answer
Fire and Allied Perils Coverage & Extended Coverage and Additional Perils Endorsements
Distinguish the fire peril from the allied perils and explain the standard exclusions that apply to each
Describe the extended coverage perils and the conditions that must be met for each to respond
Compare the additional perils endorsements and identify which perils they add beyond extended coverage
Analyze a loss scenario and decide which perils and endorsements would respond
Your checkpoint
A comparison table of fire, allied perils, extended coverage, and additional perils with the trigger conditions for each, plus three scenario analyses
Commercial Property Forms and Special Causes of Loss
Compare the commercial property forms and identify the coverage differences between them
Explain how the special causes of loss form shifts the burden of proof compared with named-peril forms
Identify the exclusions unique to the special form and the endorsements used to buy them back
Apply coinsurance and the replacement cost endorsement to a commercial loss calculation
Your checkpoint
A practice exam section of fifteen multiple-choice questions on commercial forms and special causes of loss, with an answer key and explanation for each
Business Interruption and Consequential Loss & Crime, Fidelity, and Surety Coverages
Explain how business interruption coverage responds to a loss and define the gross earnings and profits basis of recovery
Calculate the business interruption loss for a scenario given the period of indemnity, coinsurance, and extra expense
Distinguish crime, fidelity, and surety coverages and identify the loss each is designed to address
Match at least five crime or fidelity scenarios to the correct coverage form
Your checkpoint
Two solved business interruption problems showing the full calculation, plus a one-page comparison of crime, fidelity, and surety coverages
Boiler and Machinery and Equipment Breakdown & Underwriting, Rating, and Loss Prevention for Property Risks
Explain what equipment breakdown coverage adds beyond a commercial property form and identify the equipment it covers
Describe the inspection and loss prevention obligations that accompany boiler and machinery coverage
Identify the underwriting factors used to rate a commercial property risk, including construction, occupancy, protection, and exposure
Explain how loss prevention measures affect rating and insurability, and list the common recommendations an underwriter would make
Your checkpoint
A mock underwriting submission for one commercial property risk, including a completed COPE analysis, a suggested rating approach, and three loss prevention recommendations
Introduction to Property Insurance and the Insurance Contract & Property Insurance Policy Structure and Statutory Conditions & Insurable Interest, Indemnity, and Valuation of Property Losses & Fire and Allied Perils Coverage & Extended Coverage and Additional Perils Endorsements
Review the foundational domains and close gaps identified in earlier practice questions
Answer timed practice questions across the foundational domains and score above 75 percent
Explain the reasoning behind each incorrect answer from the timed set
Re-derive the key valuation and statutory condition rules without referring to notes
Your checkpoint
A timed 40-question practice test across domains 1 through 5, scored, with a written correction log for every missed question
Commercial Property Forms and Special Causes of Loss & Business Interruption and Consequential Loss & Crime, Fidelity, and Surety Coverages & Boiler and Machinery and Equipment Breakdown & Underwriting, Rating, and Loss Prevention for Property Risks
Review the commercial and specialty domains and reinforce the calculation methods for business interruption and coinsurance
Answer timed practice questions across the commercial and specialty domains and score above 75 percent
Complete two full-length mock exams under exam conditions
Summarize the ten most frequently tested concepts across the whole syllabus in your own words
Your checkpoint
Two completed full-length mock exams with scores recorded and a final one-page condensed review sheet covering all ten domains
Milestones
Week 2: Can define indemnity and insurable interest and correctly calculate actual cash value in five out of five scenarios without notes
Week 4: Scores at least 70 percent on the fifteen-question commercial forms practice set and can explain why the special form shifts the burden of proof
Week 6: Completes the mock underwriting submission with a defensible COPE analysis and at least three specific loss prevention recommendations
Week 7: Scores at least 75 percent on the timed 40-question foundational practice test with a complete correction log
Week 8: Scores at least 75 percent on both full-length mock exams and can explain every missed question from memory