WY Property & Casualty study guide
WY Property & Casualty · Work through your exam, one topic at a time.
Wyoming requires individuals who sell, solicit, or negotiate property and casualty insurance to hold a state license, and passing a licensing exam is one of the steps toward that license. The Wyoming Property and Casualty exam is aimed at new agents, agency staff, and career-changers who need to demonstrate baseline competence before applying to the Wyoming Insurance Department. The WY Property & Casualty study guide has 4 sections and about 1,387 words.
01Insurance Principles and Practices
Every P&C question ultimately tests one of a handful of ideas. Indemnity means restoring the insured to roughly the same financial position, never better - which is why valued policies and replacement cost are exceptions worth noting.
372 words, about 2 min02Property Insurance
Map the six coverages: A – Dwelling , B – Other Structures , C – Personal Property , D – Loss of Use , E – Personal Liability , F – Medical Payments to Others . HO-3 insures the dwelling on an open (special) peril basis and personal property on a named peril basis - a favorite exam distinction.
339 words, about 2 min03Casualty Insurance
On the occurrence CGL form, Coverage A covers bodily injury and property injury ; Coverage B covers personal and advertising injury ; Coverage C pays medical payments regardless of fault. Limits include each occurrence, general aggregate, products-completed operations aggregate, damage to premises rented to you, and medical expense.
317 words, about 2 min04Wyoming Insurance Laws and Regulations
The Wyoming Insurance Code is Title 26 of the Wyoming Statutes, administered by the Insurance Commissioner , who is appointed by the Governor and heads the Department of Insurance. The Commissioner licenses producers, examines insurers, approves policy forms and rates where required, holds hearings, and may issue cease-and-desist orders, fines, and license suspensions.
359 words, about 2 min