IN Property & Casualty study plan

Define risk, peril, hazard, exposure, indemnity, and insurable interest in your own words without notes

Classify ten real-world exposures against the characteristics of insurable risk and explain any that fail

Label the six structural parts of a policy (declarations, insuring agreement, conditions, exclusions, definitions, endorsements) on a sample contract

Differentiate actual cash value, replacement cost, functional replacement cost, and agreed value as loss-settlement methods

Explain the concept of insurable interest and identify when it must exist for property versus liability claims

Identify the named perils and standard exclusions found in dwelling and homeowners forms

Compare negligence, strict liability, and absolute liability, giving one concrete example of each

Break down a liability loss exposure into bodily injury, property damage, personal and advertising injury, and medical payments components

Calculate actual cash value and replacement cost settlements for five practice loss scenarios

Distinguish first-party property coverage from third-party liability coverage using three scenario descriptions

Map the homeowners form series (HO-2, HO-3, HO-4, HO-5, HO-6, HO-8) to eligible insureds and coverage triggers

Outline coverage parts A through F of a homeowners policy and state what each part pays for

Differentiate the DP-1, DP-2, and DP-3 dwelling forms by breadth of perils covered

Compare businessowners policy, commercial package policy, and stand-alone commercial property forms

Match five client fact patterns to the most appropriate property form and justify the choice

Differentiate the parts of the personal auto policy and identify the key endorsements that modify them

Outline commercial auto, garage, and motor carrier coverage triggers and their main exclusions

Distinguish occurrence from claims-made liability forms and name the coverage parts of the commercial general liability policy

Explain workers compensation Part One and Part Two (employers liability) and their interaction

Relate common policy provisions such as additional insured status and waiver of subrogation to specific policy types

Apply deductible, coinsurance, and valuation clauses to compute claim payments in six practice problems

Explain the function of mortgagee, loss payable, and lender loss payable clauses and when each applies

Distinguish conditions, exclusions, and definitions by writing three original examples of each

Describe at least five common endorsements and riders and the coverage gap each closes

Evaluate the other insurance, subrogation, salvage, and appraisal provisions in a sample policy

Summarize Indiana producer licensing steps, including prelicensing education, examination, appointment, and continuing education requirements

Explain the Indiana Department of Insurance's authority over market conduct and list prohibited unfair trade practices

Identify Indiana notice requirements for cancellation, nonrenewal, and premium payment grace periods

State Indiana minimum auto liability limits, financial responsibility proof requirements, and SR-22 filing rules

Describe Indiana fiduciary duty, premium trust, and commission rules that apply to producers

Complete two full-length timed practice exams under test-day conditions with no notes

Categorize every missed question by domain and root cause (knowledge gap, misread, or calculation error)

Re-study the two lowest-scoring domains using targeted outlines and re-drill 30 questions in each

Recite from memory the coverage parts, exclusions, and settlement rules for the five most-tested policy forms

Re-drill every item in the error log until each is answered correctly twice without notes

Recite key policy structures, coverage limits, and Indiana statutory figures from a single memory prompt sheet

Complete three timed 50-question mixed quizzes and review each within 24 hours

Write a final one-page master sheet condensing the highest-yield concepts across all six domains