MT Property & Casualty study plan

Define risk, peril, hazard, loss, and exposure, and classify the five methods of handling risk with a personal example of each

Explain insurable interest, indemnity, subrogation, and utmost good faith, then write one original scenario illustrating each principle

Identify the four structural parts of a policy (declarations, insuring agreement, conditions, exclusions) and locate each in a sample homeowners form

Diagram Coverage A through Coverage F of the HO-3 and state in one sentence what each part pays for

Compare HO-3, HO-4, HO-5, HO-6, and HO-8 by perils insured against, eligible occupancy, and which coverages are special vs. named peril

Apply Coverage C special limits and the Coverage A percentage relationships to three household loss scenarios

Distinguish replacement cost from actual cash value, and compute depreciation and settlement in five sample dwelling claims

List the standard homeowners exclusions and match each to the endorsement that fills the gap (flood, earthquake, scheduled personal property, water backup)

Outline BOP eligibility rules and its property, liability, and medical payments structure, including the business income component

Calculate a coinsurance penalty on an underinsured commercial property loss and explain the agreed-value alternative

Define negligence and prove the four elements a claimant must establish using a slip-and-fall fact pattern

Distinguish compensatory special damages, general damages, and punitive damages, and state when each is payable

Map CGL Coverage A, Coverage B, and Coverage C to their triggering conditions and list the five most frequently tested exclusions

Compare each part of the personal auto policy and explain the business-use and delivery exclusions

Summarize workers compensation benefits, the exclusive remedy doctrine, and the role of employers liability coverage

Explain additional insured status, waiver of subrogation, and how certificates of insurance do and do not confer coverage

Differentiate umbrella/excess liability, professional liability, and employment practices exposures by what each responds to

Explain the duties owed to invitees, licensees, and trespassers and contrast absolute with contractual liability

Describe the state insurance department's functions in producer licensing, rate and form filing, and market conduct examinations

Define a producer's fiduciary duty for collected premiums and identify the acts that constitute commingling or misappropriation

List the pre-licensing education, appointment, and continuing education requirements that apply to a producer in your state

Identify unfair trade practices including rebating, twisting, misrepresentation, boycott, and coercion, and state the consequence of each

Explain the purpose and limits of the state guaranty association and which policyholders it does not protect

Distinguish admitted from non-admitted insurers and describe when the surplus lines market may be used

Re-derive coinsurance, actual cash value, and loss ratio formulas from memory within ten minutes without reference material

Resolve every open entry in the error journal from weeks one through six and rewrite each as a correct one-line rule

Explain how state regulation interacts with federal programs such as the National Flood Insurance Program and the terrorism risk backstop

Answer ten producer-conduct ethics scenarios and justify each choice by the governing regulatory principle

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

Score 85% or higher overall on each exam with no single domain falling below 75%

Re-teach the five weakest objectives aloud from memory and correct any gap immediately

Compile a single last-look sheet of the numbers, limits, and definitions most likely to be tested