Property & Casualty study plan

Define the elements of a valid insurance contract and explain indemnity, insurable interest, utmost good faith, subrogation, adhesion, and aleatory nature

Distinguish representations, warranties, concealment, and misrepresentation, and state how each affects coverage

Describe the function of the declarations, insuring agreement, conditions, exclusions, and definitions in a policy

Explain common conditions including cancellation, nonrenewal, proof of loss, appraisal, salvage, other insurance, and duties after loss

Differentiate coinsurance, deductibles, limits, and agreed value provisions as they appear in property and liability forms

Compare the HO-2, HO-3, HO-5, HO-4, HO-6, and HO-8 forms by eligible insured, perils covered, and property covered

Map Coverages A through F and explain how the Coverage A limit drives the other limits

Apply the replacement-cost requirement to sample dwelling losses and compute the reduced payment when it is not met

Identify key Section I exclusions such as ordinance or law, earth movement, water damage, neglect, and intentional loss

Apply special limits for money, securities, jewelry, silverware, firearms, and business property to sample loss facts

Determine when a dwelling policy form (DP-1, DP-2, DP-3) is appropriate instead of a homeowners form

Distinguish named-peril forms from open-peril (risk of direct physical loss) forms and state when each is used

Compare actual cash value, replacement cost, functional replacement cost, and agreed value methods of loss valuation

Contrast the basic, broad, and special causes-of-loss forms and list representative perils in each

Explain how coinsurance, deductibles, and coinsurance penalties change the amount paid on a property claim

Describe the coverage intent of builders risk, business income, extra expense, and contingent business interruption forms

Differentiate building, business personal property, and personal property of others coverage under commercial property forms

Compute claim payments using the coinsurance formula, including penalized and non-penalized examples

Explain the business income and extra expense coverage trigger and the period of restoration

Distinguish specific, scheduled, and blanket limits and describe the agreed value option

Identify major commercial property exclusions and endorsements that add coverage back

Identify Part A liability coverages, supplementary payments, and the principal liability exclusions

Explain Part B medical payments, Part C uninsured/underinsured motorists, and Part D collision and other-than-collision coverage

Apply split limits, combined single limit, and deductibles to calculate payouts on sample claims

Determine coverage for newly acquired autos, non-owned autos, and listed versus unlisted drivers

Explain financial responsibility laws, no-fault provisions, and the effect of contributory and comparative negligence on recovery

Identify the four elements of negligence, proximate cause, and the defenses of contributory negligence, comparative negligence, and assumption of risk

Distinguish absolute, strict, and vicarious liability and compare compensatory with punitive damages

Explain occurrence versus claims-made triggers and the purpose of retroactive dates and extended reporting periods

Contrast inland marine coverages such as property in transit, bailee, motor truck cargo, and EDP with commercial property coverage

Differentiate crime coverages including employee theft, forgery or alteration, computer fraud, robbery, safe burglary, and social engineering fraud

Match business auto coverage symbols 1 through 9 to the autos and exposures each covers

Explain who is an insured under a business auto policy and how hired and non-owned auto exposure is handled

Distinguish garage liability from garagekeepers coverage and describe dealer and trucking endorsements

List workers' compensation benefits: medical, disability income, death, and rehabilitation, and explain the exclusive remedy doctrine

Differentiate Part One workers compensation from Part Two employers liability and explain classification, premium audit, and experience rating

Describe how sole proprietors, partners, and executive officers are treated under workers compensation

Complete two timed 100-question practice exams simulating exam conditions

Categorize every missed question by domain and identify the two weakest domains

Re-study weak areas using the glossary, worksheets, and reference cards built in earlier weeks

Rebuild a one-page formula sheet covering coinsurance, homeowners limit relationships, and personal auto limit structures

Recite the eligibility and coverage differences among the major homeowners forms and the three causes-of-loss forms