SD Property & Casualty study plan

Define risk, peril, hazard, loss, and exposure, and classify given examples as pure vs. speculative and static vs. dynamic risk

Explain insurable interest, indemnity, utmost good faith, subrogation, and proximate cause, and apply each to a short claim scenario

Identify the four elements of a valid contract and the special characteristics of insurance contracts (adhesion, aleatory, unilateral, conditional, personal)

Distinguish stock vs. mutual vs. reciprocal insurers, admitted vs. non-admitted markets, and the roles of producer, MGA, adjuster, and reinsurer

Explain express, implied, and apparent agency authority and describe how a producer's acts bind the insurer

Break down a homeowners policy into declarations, insuring agreement, conditions, exclusions, and endorsements, and list what Coverages A through F each respond to

Apply the standard limit relationships among Coverages A-F to determine available limits on a sample declarations page

Describe the steps of the claims process from notice of loss through settlement, including the insured's duties after loss

Differentiate HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8 by eligible risk, perils insured against, and key coverage differences

Compare DP-1, DP-2, and DP-3 dwelling forms to homeowners forms and identify when a dwelling policy is the correct choice

Compute loss payments under replacement cost, actual cash value, agreed value, and functional replacement cost, including one coinsurance penalty calculation

Describe the purpose and effect of scheduled personal property, water backup, ordinance or law, inflation guard, and loss of use endorsements

Apply the coinsurance formula (insurance carried divided by insurance required, times the loss, minus deductible) to three commercial property claims

Distinguish basic, broad, and special causes-of-loss forms and identify which perils each adds or removes

Outline the coverage parts of commercial crime (employee dishonesty, money and securities, forgery) and explain loss-sustained vs. discovery basis

Explain NFIP eligibility, waiting periods, building vs. contents limits, and why flood is excluded from standard property forms

List the four elements of negligence and apply contributory, comparative, and assumption-of-risk defenses to scenarios

Explain CGL Coverage A, B, and C and distinguish occurrence from claims-made triggers, including the purpose of the retroactive date

Differentiate bodily injury, property damage, personal injury, and advertising injury using policy definitions

Distinguish an additional insured endorsement from a certificate of insurance and describe the coverage each does or does not provide

Compare personal auto policy parts (liability, medical payments, uninsured/underinsured motorist, physical damage) and explain split limits vs. combined single limit

Explain workers compensation benefits and employers liability, and identify which injuries are excluded

Describe the purpose of umbrella/excess liability and how it drops down over underlying limits

Identify South Dakota producer licensing requirements, appointment, and continuing education obligations

Explain South Dakota unfair trade practice prohibitions and identify which acts (misrepresentation, twisting, rebating, commingling) violate them

Describe cancellation, nonrenewal, and premium-refund rules for property and casualty policies in South Dakota

Outline the role of the Division of Insurance, the guaranty association, and surplus lines eligibility requirements

Summarize claim-handling standards, producer recordkeeping, fiduciary duties for premiums, and penalties for unlicensed activity

Review the error logs from all prior quizzes and restate each missed concept in your own words

Take two full-length timed practice exams and compare section-by-section results to diagnose remaining weak domains

Drill the rule sets most often tested numerically: coinsurance, HO limit percentages, deductible application, and split-limit liability

Rehearse state-specific content until South Dakota rules questions are answered at 85% or better