MD Property & Casualty study plan

Define risk, peril, hazard, loss, and exposure, and classify a set of given examples into each category

Distinguish indemnity, insurable interest, subrogation, and utmost good faith by applying each principle to a short claim scenario

Identify the elements required for a valid insurance contract and explain what makes an insurance policy a contract of adhesion

Differentiate express, implied, and apparent authority, and explain the legal distinction between an agent and a broker

Explain how reinsurance, pooling, and self-insurance transfer or retain risk

Break a property policy into its declarations, insuring agreement, conditions, and exclusions, and state the purpose of each part

Compare named-peril and open-peril (special) forms and identify which losses fall outside each

Contrast actual cash value, replacement cost, and functional replacement cost, then compute the payment owed under each method for a stated loss

Apply coinsurance and deductible mechanics to sample property losses and compute the insurer's payment

Explain the concept of insurable interest as it applies to property at the time of loss

Map Coverages A through F and the major exclusions across the HO-3, HO-5, HO-4, HO-6, and HO-8 forms

Apply special limits of liability for money, jewelry, silverware, and business property to given loss scenarios

Distinguish the DP-1, DP-2, and DP-3 dwelling forms from homeowners forms by perils insured and eligibility

Identify the endorsements used to add flood, earthquake, and scheduled personal property coverage, and explain what each adds

Compare the commercial building and personal property form with the causes-of-loss basic, broad, and special forms

Calculate a business income and extra expense loss for a stated period of restoration

Distinguish inland marine floaters from commercial property coverage by what they insure and who needs them

Apply deductible and coinsurance provisions to a commercial property claim and compute the recovery

Rank your weakest Domain 1 and Domain 2 subtopics from your error log and re-drill them

Identify the four elements of negligence and apply each of the common defenses to a fact pattern

Distinguish absolute liability, strict liability, and vicarious liability and give one example of each

Outline Coverage A, Coverage B, and Coverage C of the commercial general liability form and explain the occurrence versus claims-made trigger

Identify the major CGL exclusions, including pollution, aircraft and auto, professional services, and employer's liability

Explain how liability limits apply per occurrence, per person, and in the aggregate

Compare Parts A through D of the personal auto policy and apply liability and medical payments coverage to an auto claim

Distinguish no-fault and add-on personal injury protection from a traditional tort liability system

Explain workers compensation benefits, the exclusive remedy doctrine, and employer's liability exposure

Differentiate umbrella and excess liability coverage from primary liability coverage in a layered-loss example

Identify the coverage structure of the businessowners policy and one other casualty line such as professional or employment practices liability

Outline Maryland producer licensing requirements, including qualification, appointment, renewal, and continuing education obligations as tested on the state exam

Explain Maryland rules governing unfair trade practices and unfair claim settlement practices

Identify Maryland requirements for cancellation and nonrenewal notices on personal auto and homeowners policies

Explain the role of the Maryland Insurance Administration and the state's residual market and guaranty mechanisms

Distinguish state-specific requirements from general principles you already learned in Domains 1 through 3

Re-take every previously failed quiz until each domain scores 85% or higher

Complete two full-length timed simulated exams under exam conditions and compare the score trend

Review the accumulated error log and restate the governing rule for each remaining missed item

Rank all four domains by final practice accuracy and spend remaining study time on the two lowest