III. Ethics -- 3 Hours
A. Fiduciary duties, and responsibilities
B. Conflict of interest
C. Ethical marketing practices, including fair and ethical treatment of policyholders
D. Appropriate claims practices
E. Suitability of product to client
F. Social responsibility of insurance agent
G. Agent/company relationships
H. Maintaining appropriate insurance expertise
SECTION B
IV. Terms, Concepts, and Policies -- 10 Hours
A. Insurance terms and related concepts
1. Insurance
2. Insurable interest
3. Hazard
a. Physical
b. Moral
c. Morale
4. Peril (causes of loss)
a. Specified (named) perils
(1) Standard fire
(2) Extended coverage
(3) Broad form
b. Open perils (all physical loss)
5. Loss
a. Direct
b. Indirect
6. Proximate cause
7. Deductible
8. Principle of Indemnity
9. Actual cash value
10. Replacement cost
11. Limits of liability
12. Coinsurance
13. Pair and set clause
14. Extensions of coverage
15. Additional coverages
16. Accident
17. Occurrence
18. Cancellation
19. Nonrenewal
20. Vacancy and unoccupancy
21. Right of salvage
22. Abandonment
23. Liability
24. Negligence
B. Policy provisions and contract law
1. Parts of a policy
a. Declarations
b. Insuring agreement
c. Conditions
d. Exclusions
2. Definition of the insured
3. Duties of the insured
4. Obligations of the insurance company
5. Mortgagee rights
6. Proof of loss
7. Notice of claim
8. Appraisal
9. Pro rata liability (other insurance)
10. Assignment
11. Subrogation
12. Arbitration
13. Elements of a contract
14. Warranties, representations, and concealment
15. Warranty
a. Affirmative
b. Promissory
16. Breach of warranty
17. Concealment
18. Binders
19. Sources of insurability information
20. Fair Credit Reporting Act
C. Types of policies
1. Standard fire
2. Personal lines
a. Dwelling (DP forms)
b. Homeowners (HO) forms
c. Mobile homes
3. Homeowners policy
4. Watercraft
5. Flood insurance
6. Commercial Lines
a. Commercial package policy (CPP)
(1) Building and personal property coverage Form
(2) Causes of loss forms
(3) Business income coverage form
(4) Extra expense coverage form
(5) Boiler and machinery coverage form
