NC Property & Casualty study plan

Define the seven characteristics of insurance contracts and distinguish indemnity, insurable interest, subrogation, and utmost good faith in property claim scenarios.

Differentiate named-peril from open-peril (special) forms and list which perils each ISO homeowners form (HO-2, HO-3, HO-5) covers.

Identify the homeowners coverage parts (A through F) and state what each pays for, including Coverage D loss of use and Coverage F medical payments to others.

Compute a coinsurance penalty and an actual cash value settlement given replacement cost, depreciation, deductible, and amount carried.

Compare the dwelling property forms (DP-1, DP-2, DP-3) and explain when a dwelling policy is used instead of a homeowners policy.

Outline special limits of liability for money, securities, jewelry, firearms, and business property on homeowners contents.

Describe endorsements commonly added to personal property policies, such as scheduled personal property, water backup, and replacement cost on contents.

Explain the four elements of negligence and identify the common law defenses a liability adjuster must evaluate.

Break down the personal auto policy parts (A through D plus duties after loss) and state what each part covers and excludes.

Distinguish financial responsibility limits, split limits, combined single limits, and uninsured/underinsured motorist coverage as written in North Carolina.

Apply the PAP definitions of covered auto, newly acquired auto, and non-owned auto to at least five fact patterns.

Explain personal liability and medical payments coverage under Section II of the homeowners policy, including the business-pursuits and intentional-acts exclusions.

Compare umbrella and excess liability coverage and explain the self-insured retention and required underlying limits.

Classify each of the following as a hazard, a peril, or a risk: moral hazard, morale hazard, physical hazard, speculative risk, pure risk.

Describe how deductibles, coinsurance, and limits of liability share loss between insured and insurer.

Review all domain-3 and domain-4 errors from prior quizzes and restate the correct rule for each.

Summarize North Carolina producer licensing requirements, appointment, continuing education hours, and the grounds for license suspension or revocation.

State the rules for cancellation, nonrenewal, and conditional renewal notices for personal and commercial property/casualty policies in North Carolina, including the required day counts.

Explain the role of the North Carolina Rate Bureau, the Department of Insurance, the FAIR Plan, and the North Carolina Insurance Underwriting Association and Guaranty Association.

Describe unfair trade practice and rebating prohibitions and identify a violation from a given producer scenario.

Identify the building and personal property coverage form components: covered property, coverage extensions, valuation, coinsurance, and deductible.

Explain causes-of-loss forms (basic, broad, special), the business income and extra expense coverage, and the period of restoration.

Compare the businessowners policy (BOP) eligibility rules, coverages, and optional endorsements to the commercial package policy.

Distinguish builder's risk, commercial inland marine, and equipment breakdown coverage by the exposure each addresses.

Analyze the commercial general liability occurrence form: Coverage A, Coverage B, Coverage C, the insuring agreement, and the key exclusions.

Explain the claims-made trigger, retroactive date, and extended reporting period, and contrast them with an occurrence trigger.

Outline workers compensation Part One, Part Two, and Part Three and state the North Carolina employer obligations for coverage.

Describe business auto symbols, garage and trucking exposures, and how commercial umbrella coverage sits over auto, general liability, and employers liability.

Re-drill the insurance principles terms most often missed on prior quizzes: risk retention and transfer, indemnity, subrogation, and the law of large numbers.

Re-verify the North Carolina-specific notice, licensing, and unfair-practice rules against your week-5 cheat sheet.

Complete two timed 150-question practice exams under exam conditions and log every missed item by domain.

Build and restate a final one-page list of the 25 facts you missed most often.