Your learning objectives are as follows:
ƒ Understand the mechanism of insurance.
ƒ Understand the difference between property and casualty insurance.
ƒ Learn the parts of the insurance contract
ƒ Know all of the insurance terms
ƒ Understand property insurance terms and concepts
ƒ Know the loss adjustment methods (replacement cost vs. actual cash value)
ƒ Understand casualty insurance terms and concepts
ƒ Know the parts of a liability policy
ƒ Understand the principles of risk, elements of insurability and
ƒ Know the parties to a contract
ƒ Know the characteristics of an insurance contract (legal terms must be memorized)
ƒ Understand legal interpretations affecting the insurance contract
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