OR Property & Casualty study guide
OR Property & Casualty · Work through your exam, one topic at a time.
The Oregon Property and Casualty Insurance Producer License Examination is the licensing test administered by the Oregon Department of Consumer and Business Services, Division of Financial Regulation, for candidates who want to sell property and casualty insurance in the state. A P&C producer license covers both lines at once, so the exam tests homeowners, dwelling, commercial property, auto, liability, and workers' compensation material alongside the Oregon statutes and administrative rules that govern producer conduct, marketing, and claims handling. The OR Property & Casualty study guide has 4 sections and about 1,345 words.
01Oregon Insurance Laws, Rules, and Regulations
Oregon's market is regulated by the Division of Financial Regulation within the Department of Consumer and Business Services (DCBS) - there is no elected insurance commissioner. The Insurance Code (ORS Chapters 731–746) and the Oregon Administrative Rules govern producer licensing, policy forms, claim handling, and market conduct.
372 words, about 2 min02General Insurance Principles and Concepts
Insurance transfers pure risk (loss or no loss), not speculative risk (loss, no loss, or gain). A peril is the cause of loss - fire, wind, theft.
327 words, about 2 min03Property Insurance Principles, Coverages, and Policy Provisions
HO-3 is the benchmark: open-perils coverage on Coverage A (dwelling) and B (other structures), broad named perils on C (personal property). HO-2 is named perils throughout; HO-5 is open perils on both real and personal property; HO-4 covers a renter's contents and liability with no building; HO-6 is the condo form; HO-8 serves older homes using functional replacement cost.
297 words, about 1 min04Casualty Insurance Principles, Coverages, and Policy Provisions
The commercial general liability policy has three coverages: A (bodily injury and property damage), B (personal and advertising injury), and C (medical payments). Occurrence forms respond when injury or damage happens during the policy period, even if the claim arrives years later; claims-made forms respond when the claim is made, subject to a retroactive date, and typically offer an extended reporting period (tail).
349 words, about 2 min