FL Property & Casualty study plan

Define risk, peril, hazard, loss, and exposure and classify at least 10 real-world scenarios into those categories

Distinguish the six core principles of insurance - indemnity, insurable interest, utmost good faith, subrogation, adhesion, and reasonable expectations - and state an example of each

Explain how the law of large numbers and adverse selection shape underwriting and ratemaking

Diagram the insurance transaction from applicant through producer and insurer to reinsurer, showing direction of premium, policy, and claim dollars

Differentiate stock versus mutual insurers, admitted versus surplus lines carriers, and the authority types held by agents (express, implied, apparent)

Identify the seven elements required for a contract to be enforceable and match each to the insurance policy wording that satisfies it

Break a sample property policy into its five structural parts - declarations, insuring agreement, conditions, exclusions, definitions - and label each part

Explain how estoppel, waiver, and representations versus warranties affect claim outcomes

Apply the coinsurance formula to at least three underinsured-property scenarios and compute the exact claim payment for each

Compute actual cash value versus replacement cost settlements, showing depreciation math step by step

Explain the function of deductibles, limits of liability, valuation clauses, and coinsurance in controlling moral and morale hazard

Interpret the mortgagee clause, loss payable clause, and no-benefit-to-bailee clause and describe who is protected by each

Summarize the causes-of-loss concepts of named peril versus open peril and special form coverage

Identify the four elements of negligence and apply them to six fact patterns to determine whether liability exists

Contrast contributory negligence, comparative negligence, assumption of risk, and the last clear chance doctrine as defenses

Distinguish occurrence-form from claims-made liability coverage and explain the retroactive date, extended reporting period, and claims trigger

Differentiate the liability limit structures - per occurrence, general aggregate, products-completed operations aggregate, and split limits - and compute available limits after two losses

Explain additional insured status, certificates of insurance, and vicarious and strict liability

Compare the commercial property coverage forms - building and personal property, causes of loss forms, and business income with extra expense - and state what each responds to

Map the Commercial General Liability coverage parts (A, B, C and the exclusions that drive them) to given loss scenarios

Identify the scope of commercial auto, inland marine, crime, and umbrella/excess liability coverages and where they overlap or leave gaps

Explain coinsurance and agreed value in commercial property and how reporting forms differ

Apply CGL exclusions and exceptions to ten claim scenarios and justify each coverage decision in one sentence

Break the personal auto policy into its parts and state what each part covers, who is an insured, and the key exclusions

Differentiate the homeowners coverage forms (HO-3, HO-4, HO-6, HO-8) and identify which perils and property each insures

Explain the homeowners coverage parts A through F and the special limits that apply to high-value personal property

Outline Florida's no-fault system, including personal injury protection benefits, the requirements for receiving them, and the statutory exclusions

State Florida's minimum required auto liability limits and describe the financial responsibility and proof-of-coverage rules that apply to drivers

Describe Florida producer licensing, appointment, continuing education, and recordkeeping obligations

Explain prohibited and unfair trade practices under Florida insurance law and give an example of each

Complete two timed 100-question practice exams under exam-day conditions with no notes

Rebuild an error log that tags every miss by domain and sub-topic, then restudy the three weakest areas

Recite Florida licensing, appointment, and continuing education rules from memory without prompts

Re-verify the highest-risk facts - coinsurance math, liability limits, and Florida auto requirements - against study materials