IL Property & Casualty study plan

Diagram the property loss exposures - direct damage, indirect/consequential loss, and time-element loss - and label two concrete examples of each

Compute the coinsurance penalty settlement for three sample property losses using (insurance carried ÷ insurance required) × loss, then subtract the deductible

Distinguish named-peril, open-peril, and scheduled coverage by writing a one-sentence plain-English paraphrase of each trigger

Outline the four elements of negligence, the common liability defenses, and the categories of compensatory and punitive damages

Classify ten policy forms as property, casualty, or both, and state the insuring agreement each relies on

Build a side-by-side comparison matrix of DP-1, DP-2, DP-3, HO-2, HO-3, HO-5, HO-4, HO-6, and HO-8 showing perils insured, dwelling/contents basis, and occupancy eligibility

Apply HO-3 Section I Coverages A through D and the special limits of liability to five loss scenarios and calculate the payable amount for each

Differentiate Section II Coverage E (personal liability) from Coverage F (medical payments to others) and identify the three situations that trigger the duty to defend

List the standard homeowners exclusions - ordinance or law, earth movement, water damage, neglect, intentional loss - and name the endorsement that restores each

Explain the loss-settlement conditions: replacement cost versus actual cash value, the 80% replacement-cost requirement, and the appraisal and pair-and-set provisions

Break down the personal auto policy into its declarations, the four coverage parts (A through D), and the duties after loss, and explain how split limits differ from a combined single limit

Resolve twelve claim scenarios involving permissive use, non-owned autos, borrowed trailers, and uninsured/underinsured motorist claims by naming the coverage part that responds

Apply Illinois compulsory auto liability requirements and uninsured/underinsured motorist rules to fact patterns, and explain how Illinois's tort-based liability system allocates fault

Identify the major PAP exclusions and the endorsements used to add or restore coverage, including named non-owner, drive-other-car, and miscellaneous-type vehicle coverage

Calculate transportation expense, loss-of-use, and total-loss settlements under both ACV and loan/lease gap provisions

Map the commercial package policy structure - common policy declarations, common conditions, and how the building and personal property form interlocks with the commercial general liability form

Apply building and personal property valuation methods (actual cash value, replacement cost, functional valuation) and the coinsurance clause to three commercial property losses

Differentiate occurrence-basis from claims-made CGL triggers, and explain the retroactive date, extended reporting period, and the general aggregate and per-occurrence limits

Compare the coverage triggers for commercial auto, inland marine, commercial crime, and boiler and machinery, and state what each fills that the others do not

Describe the business income and extra expense coverage trigger, the period of restoration, and the difference between business income and extra expense

Outline the Illinois producer licensing framework - license types, prelicensing and exam requirements, appointment and termination notice duties, and continuing education including the ethics component

Describe the Illinois unfair trade practice prohibitions - rebating, twisting, misrepresentation, false advertising, and commingling - and the penalty and hearing process that follows a violation

Distinguish the regulatory authority of the Illinois Department of Insurance from the NAIC's role, and identify which body issues licenses, examines insurers, and hears consumer complaints

Define and give one example each of insurable interest, indemnity, utmost good faith, adhesion, subrogation, aleatory contract, and the elements required for a valid insurance contract

Differentiate representations, warranties, and concealments, and explain how waiver, estoppel, and parol evidence affect a policy dispute

Explain the exclusive remedy framework of workers' compensation and the four benefit categories - medical, indemnity (TTD, TPD, PPD, PTD), death, and rehabilitation

Distinguish Part One workers' compensation coverage from Part Two employers liability, and identify the three situations in which Part Two responds

Apply Illinois workers' compensation coverage rules - compulsory coverage and the election available to sole proprietors and partners - to five employer fact patterns

Compare umbrella/excess liability, the businessowners policy, farm coverage, flood, and inland marine as to eligibility, underlying requirements, and coverage trigger

Calculate the indemnity benefit payable in eight injury scenarios using the applicable wage basis and scheduled or percentage-of-impairment method

Re-answer every item missed in weeks 1 through 6 and write the corrected rule in your own words beneath each one

Build a 30-card flashcard deck targeting your three most frequent error patterns and drill it to automatic recall

Complete a 75-question timed mixed exam and score each of the eight domains separately rather than as a single total

Re-read only the outline sections tied to any domain scoring below 75%

Complete two full-length timed practice exams under exam conditions, simulating the actual question count and time limit

Review each missed item back to the governing rule and confirm no single domain falls below 70%

Recite from memory the coverage triggers, key limits, and principal exclusions for the eight most heavily tested policy forms across all domains

Compress the entire outline into a one-page final review sheet of limits, numbers, and Illinois-specific rules