VA Property & Casualty study plan

Build a 30-card flashcard set for core concepts (risk, peril, hazard, pure vs. speculative risk, indemnity, insurable interest, subrogation, coinsurance, deductibles, limits) and self-quiz until you hit 90% recall.

Calculate replacement cost, actual cash value, and a coinsurance penalty by hand for 10 original scenarios, showing every step of the arithmetic.

Diagram the anatomy of a property policy (declarations, insuring agreement, conditions, exclusions, endorsements) and label where each provision lives.

Differentiate named-peril, broad, and open-peril (special) forms, writing three original claim examples for each and stating whether the loss is covered.

Explain the purpose of coinsurance, deductibles, and policy limits in your own words in under 150 words per concept.

Compare HO-3, HO-4, HO-5, HO-6, and HO-8 by Coverage A through F limits, perils insured against, and eligibility, in a side-by-side table.

Solve 8 dwelling and homeowners valuation problems involving Coverage A/B/C/D limits, special limits, and loss settlement provisions.

Outline the mechanics of business income coverage (period of restoration, coinsurance, extra expense) and work two original numerical examples.

Distinguish commercial property forms, causes-of-loss forms, and inland marine floaters, listing three original items that belong in each category.

Identify the homeowners and commercial property exclusions most frequently tested and write one sentence on how each is typically endorsed back.

List the four elements of negligence and apply them to five original fact patterns, stating whether liability attaches and why.

Map every part of the personal auto policy (liability, medical payments/PIP, uninsured/underinsured motorist, physical damage, duties after loss, exclusions) onto a labeled one-page schematic.

Explain contributory vs. comparative negligence, assumption of risk, and vicarious liability with one original example each.

Work six PAP scenarios covering newly acquired autos, non-owned autos, named-driver exclusions, and split-limit vs. combined single limit payments.

Distinguish absolute, strict, and vicarious liability and list two business situations that trigger each.

Summarize the role and authority of the Virginia State Corporation Commission Bureau of Insurance, including producer licensing, appointment, and continuing education requirements, in a two-page outline.

Record the current Virginia financial responsibility minimum limits and uninsured motorist requirements directly from the Bureau of Insurance website, and note the effective date you verified.

Categorize at least 10 unfair trade practices and producer prohibited acts under Virginia law, matching each to a concrete original scenario.

Describe fiduciary handling of premiums, commingling rules, and the consequences of misappropriation in a short written summary.

Explain Virginia-specific market practices such as residual market mechanisms and required policy notices, listing the notice timing rules you must memorize.

Differentiate commercial general liability Occurrence and Claims-Made forms, including retroactive dates and extended reporting periods, with three original claim-timing examples.

Break down CGL Coverage A, B, and C and the standard exclusions, writing the trigger for each coverage part.

Explain how umbrella and excess liability layers attach, and solve three problems on self-insured retention and drop-down coverage.

Compare commercial auto symbols (covered autos designations) and garage coverage (garagekeepers, dealer plates, false pretense) using five original scenarios.

Match specialty liability products (professional, D&O, EPLI, cyber) to the exposure each is designed to transfer.

Trace the producer lifecycle from prelicensing through appointment, renewal, and termination, and state what triggers each reporting obligation.

Explain certificate of authority, reciproc ity, commission sharing, and fiduciary account rules, answering 15 original true/false items.

Outline the four benefit categories of workers' compensation (medical, indemnity, rehabilitation, death) and compute three indemnity benefit examples using a state benefit formula given in your study materials.

Distinguish workers' compensation from employers liability, and explain exclusive remedy and the major employment classifications used for rating.

Identify the Virginia workers' compensation insurance requirements and where coverage gaps arise for subcontractors and sole proprietors.

Re-attempt every question missed in Weeks 1 through 6 and rewrite the rationale for each until it is correct without notes.

Run 60 minutes of rapid-fire recall on coinsurance math, PAP limit stacking, and Virginia limits and deadlines.

Build a one-page 'top 25 confusables' list (e.g., ACV vs. replacement cost, occurrence vs. claims-made, UM vs. UIM, named-peril vs. open-peril) with a distinguishing sentence for each.

Complete two mixed 50-question sets weighted to match the exam blueprint and record your score by domain to find your two weakest areas.

Re-study only your two weakest domains using the original notes you built, not new material.

Complete two full-length timed practice exams of 100+ questions under exam conditions, scoring 80% or better on each.

Review every missed item from both exams and convert each into a flashcard you can answer in under 20 seconds.

Recite from memory every Virginia-specific number, limit, and deadline on your cheat sheet with zero errors.

Do a final pass on the top 25 confusables list and confirm each distinction is automatic.

Take one last 25-question sprint on your previously weakest domain and confirm a score above 85%.