DC Property & Casualty study guide
DC Property & Casualty · Work through your exam, one topic at a time.
The District of Columbia Property and Casualty Producer Examination is the licensing test a candidate must pass to be issued a resident producer license for property and casualty lines in DC. It is administered on behalf of the DC Department of Insurance, Securities and Banking (DISB), the government agency that issues the license and publishes the current rules, fees, scheduling details and passing standard. The DC Property & Casualty study guide has 7 sections and about 2,203 words.
01Insurance Principles and Concepts
Insurance transfers pure risk (loss or no loss) and never speculative risk , which carries gain potential and is uninsurable. Hazards surround a loss exposure: physical (icy steps), moral (dishonest intent, e.g., arson for profit), and morale (carelessness, e.g., leaving keys in the car).
329 words, about 2 min02Property Insurance Basics and Dwelling/Homeowners Coverage
Every policy contains declarations, insuring agreements, conditions, exclusions, and definitions. Conditions are the insured's duties - prompt notice, proof of loss, appraisal, and the suit-limitation period.
304 words, about 2 min03Commercial Property and Inland Marine Coverage
The Building and Personal Property Coverage Form (BPP) insures the building, business personal property, and personal property of others, with limits listed per item or as a blanket. Additional coverages (debris removal, pollutant cleanup, preservation of property) and extensions (newly acquired property, valuable papers, outdoor signs) sit inside the form.
319 words, about 2 min04Casualty Insurance Basics and Liability Concepts
Four elements: duty owed, breach of duty, proximate cause, and actual damages. Defenses include contributory negligence (complete bar in a handful of jurisdictions), comparative negligence (pure or modified - damages reduced by the plaintiff's percentage, or barred above a threshold), assumption of risk, and the statute of limitations.
305 words, about 2 min05Automobile Insurance
Six parts: A Liability; B Medical Payments; C Uninsured/Underinsured Motorists; D Coverage for Damage to Your Auto (collision and other than collision); E Duties After an Accident; F General Provisions. Definitions drive the questions: 'covered auto' includes newly acquired autos for a limited period, and 'who is an insured' is broader under Part A than under Parts B, C, and D.
319 words, about 2 min06General Liability, Umbrella/Excess and Specialty Casualty
The CGL has Coverage A (bodily injury and property damage), Coverage B (personal and advertising injury), and Coverage C (medical payments). The occurrence form covers injury during the policy period; the claims-made form adds a retroactive date and extended reporting periods.
310 words, about 2 min07District of Columbia Insurance Laws, Rules and Regulations
Anyone who sells, solicits, or negotiates insurance in DC must hold a producer license issued by the Department of Insurance, Securities and Banking (DISB). Nonresidents qualify through reciprocity.
317 words, about 2 min