Virginia property and casualty insurance study guide pdf

Licensing requirements vary by state. However, one element is consistent throughout the U.

The objectives of this course is to expose you to a variety of contemporary insurance issues. In addition to laying a foundation of knowledge, it is hoped that these topics will stimulate your curiosity to learn more about one or several of the subjects discussed. This is a self-study course designed to help you meet your prelicensing requirement. It has been accredited by the State. For best results, you should review the complete text. To measure your knowledge, you must pass the online examinations associated with this course.

Virginia property and casualty insurance study guide pdf

Some states require a licensing course before qualifying to take the exam. Even after obtaining a license, all states require a continuation of education to fully prepare each agent as they enter the field. An example is a Maryland resident applying for a non-resident Florida insurance license. Each state has a different set of qualifications for taking the exam, including the completion of a Pre-Licensing Course, a background check, and training. After passing the exam and completing the other requirements, candidates may apply for the license. Below are some possible categories for this exam. Typically, applicants have the option to fill out the application online or mail it in. For example, if you are seeking licensure in Texas, you can contact the Texas Department of Insurance. Candidates are also encouraged to stay up-to-date with renewal fees and requirements, if applicable. For more information on examination fees, please contact the state insurance board. Applicants across the country can expect different test-taking experiences because each state adopts different protocols. Below are some common rules and procedures. It is normal to experience anxiety when preparing for an exam — especially an exam that can advance your career. Understanding the test topics and structure in advance will not only decrease your anxiety but help you earn a higher score.

Hold on to your fingerprint receipt as it is required for your license application. Note: The unit or condo owner owns everything inside the bare walls with the exception of some fixed items and electrical wiring. Motor Truck Cargo PolicyShippers form insures cargo being transported by common carriers.

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As an insurance agent, one is allowed to offer many different lines of coverage — provided that the required training and testing qualifications have been met. Those who wish to sell property and casualty insurance are required to possess the proper licensing for each state in which they conduct business. The actual exam tests your knowledge, skills and abilities in: Types of policies, bonds, and related terms, Insurance terms and related concepts, and Policy provisions and contract law under national and state insurance law. View Answers as You Go. Coverage is provided for bodily injury liability. In addition, coverage is written to cover the negligence of the insured. Business and professional liability and personal injury are excluded.

Virginia property and casualty insurance study guide pdf

Last updated: December 19, These steps will take a few weeks to complete so we recommend you bookmark this page so you can use it as a reference throughout the process. Just follow these five simple steps to start your journey toward becoming a property and casualty insurance agent. Once you earn this license, check out our guide on how to get your Virginia life insurance license as well. Pre-license education courses are self-paced and include study materials like practice exams and flashcards. Others purchase books or self-study materials to prepare themselves for the exam. A pre-license education course provides very specific industry knowledge that insurance professionals will encounter during the exam. You can complete insurance licensing courses on your own schedule and at your own pace when you choose online courses. Recommended Course. For comprehensive study packages, StateRequirement recommends:.

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Besides combining coverages for. The declarations lists:. More on Homeowners Policies later in the unit. For example, if the insured starts a fire in the fireplace, and forgets to open the damper, the resultant smoke damage is covered. Well, if it was a rental unit on your property, it will be covered by a dwelling policy. Peril Peril refers to the specific event causing a loss, such as fire, windstorm or collision. The home has to be inspected to make sure heating, plumbing, and electrical systems meet state codes, and are installed properly. Contract of Adhesion This kind of contract means take it or leave it. Property is inspected for Pride of Ownershipis the house in good condition? Debris Removal pays for the removal of: o Debris on the premises o A neighbors tree or trees that fell as a result of a covered peril and did direct damage to the insured structure o The named insureds tree or trees that fell after or during a windstorm or hailstorm. Accounts Receivable Coverage protects the insureds financial records.

Licensing requirements vary by state. However, one element is consistent throughout the U.

We, us and our refer to the insurer. Thats definitely on the California State Insurance Exam. Note: In the declarations, you and your refer to the insured. Personal Contract This type of contract insures the person who owns the property, but does not insure the actual property. They mean to throw you off, so really familiarize yourself with these concepts. If you need advice for specific client matters, seek a competent professional. Youll need to have an understanding of a policys makeup as well as its applications for the final exam. Reinsurance Reinsurance is when an insurance company transfers a percentage of the obligations of a policy to one or more other companies. Property is inspected for Pride of Ownershipis the house in good condition? This study guide will help with that and so much more! Sudden and Accidental Tearing Apart, Cracking, Burning, or Bulging of an Appliance for Heating Water covers household appliances, steam and hot water heating systems, air conditioning systems, and fire sprinkler systems. Actually, its probably more formal than that.