SD Property & Casualty study guide
SD Property & Casualty · Work through your exam, one topic at a time.
The South Dakota Property & Casualty Insurance Producer License is a state credential that allows a producer to sell, solicit, and negotiate property and casualty insurance products in South Dakota. Candidates typically come from agency sales roles, claims-adjacent positions, or a career change, and must pass a licensing exam before applying. The SD Property & Casualty study guide has 4 sections and about 1,356 words.
01Insurance Principles and Concepts
Risk is uncertainty about loss. A peril is the cause of loss (fire, collision); a hazard is a condition that increases the chance or severity of loss.
350 words, about 2 min02Property Insurance Basics and Coverages
A homeowners policy is organized as Coverage A (dwelling), B (other structures), C (personal property), D (loss of use), E (personal liability), and F (medical payments to others), plus Section I and Section II conditions. HO-2 is broad named peril; HO-3 is special form, meaning the dwelling is open peril while personal property stays named peril; HO-5 is open peril on both; HO-4 (renters) and HO-6 (condo) carry no Coverage A or B; HO-8 uses functional replacement cost for older homes.
321 words, about 2 min03Casualty Insurance Basics and Coverages
The CGL is built on Coverage A (bodily injury and property damage), Coverage B (personal and advertising injury), and Coverage C (medical payments), with supplementary payments outside the limits. An occurrence form responds to injury or damage during the policy period; a claims-made form responds to claims first made during the period, subject to the retroactive date and any extended reporting period.
339 words, about 2 min04South Dakota Insurance Laws, Rules, and Regulations
South Dakota insurance law is codified in SDCL Title 58 and administered by the South Dakota Division of Insurance, which licenses producers and companies, reviews rates and forms, and conducts market conduct examinations. Unfair trade practice rules in SDCL chapter 58-33 govern misrepresentation, twisting, churning, rebating, boycott, coercion, and unfair claim settlement practices.
346 words, about 2 min