MS Property & Casualty study plan

Define and distinguish the core risk-handling techniques (avoidance, retention, transfer, loss reduction) using your own one-line examples

Explain indemnity, insurable interest, utmost good faith, subrogation, and contribution, and label which principle each of ten short claim scenarios illustrates

Map the insurance transaction flow from application through underwriting, policy issue, premium payment, and claims

Distinguish stock vs. mutual insurers, admitted vs. surplus lines, and producers vs. adjusters by function

Outline Mississippi producer licensing requirements, including prelicensing education, exam, appointment, and renewal/continuing education obligations

Summarize Mississippi rules on producer commissions, rebating, misrepresentation, and unfair trade practices

Describe Mississippi requirements for cancellation, nonrenewal, and notice of premium change on personal lines policies

Identify Mississippi-specific residual market and guaranty association mechanisms and when each applies

Break a policy into its declarations, insuring agreement, conditions, exclusions, and definitions, and state the function of each

Apply the concepts of waiver, estoppel, concealment, and representations to short fact patterns

Explain coinsurance, deductibles, limits, and loss settlement provisions and compute a simple coinsurance penalty

Interpret the standard mortgagee, salvage, appraisal, and proof-of-loss clauses

Compare the HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8 forms by coverage breadth and eligible insured

List the Coverage A through D limits logic and explain how Coverage C special limits apply to high-value categories

Identify the major property perils covered and excluded, including water damage, freezing, and ordinance or law

Describe dwelling fire forms and the difference between named-peril and open-peril coverage