1. Exam Prep
2. North Dakota
3. Property
4. Property Insurance Basics

Subtopics: Scope of cancellation law, Policy term rule, Cancellation reasons, Cancellation notice, Proof of mailing, Five-day cancellation, Reason for cancellation, Nonrenewal notice, Renewal offer, Proof of mailing retention, Prohibited reasons, Occupation as a reason, Declination reasons, Declination defined, Renewal defined, Duplicate coverage, Penalties, Producer refusing application, Valued policy law, Valued policy exception, Valued policy - other structures, Builders risk valuation, Standard fire policy, Suit limitation, Transfer of interest, Other insurance, Standard fire policy scope, Nonstandard fire policy, Terrorism and fire, Increase in risk, Fire protection class, Reopened claims, Supplemental claims, Bad faith claims, Notice of fire loss, Willful act, Proximate cause, Rescue of property, Valued policy defined, Open policy defined, Insurable interest, Actual cash value, Replacement cost, Agreed value, Functional replacement cost, Direct vs indirect loss, Coinsurance purpose, Coinsurance calculation, Deductible, Declarations, Insuring agreement, Exclusions, Conditions, First named insured, Duties after loss, Subrogation condition, Liberalization, Other insurance pro rata, Blanket insurance, Loss payable clause, Construction class, Rate components, Underwriting purpose, Valued policy, Market value, Cancellation short rate, Policy territory, Assignment property, No benefit to bailee, Claim settlement options, Pair and set clause, Vacancy, Specific insurance, Terrorism program, Indirect loss time element, Hazard reduction underwriting, Named perils form, Open perils form, Burden of proof, Concurrent causation, Anti-concurrent causation clause, Pro rata cancellation, Flat cancellation, Policy period, Salvage rights, No abandonment clause, Appraisal provision, Proof of loss, Notice of loss, Depreciation, Recoverable depreciation, Percentage deductible, Period of restoration, Business income waiting period, Contribution by equal shares, Excess other insurance, Margin clause, Waiver of subrogation, Mysterious disappearance, Inherent vice exclusion, Wear and tear exclusion, Earth movement exclusion, Flood exclusion, Ensuing loss, Ordinance or law exclusion, Sue and labor, Ingress and egress, Reinstatement of limit, Coverage extension, Stated amount, Actual cash value calculation, Deductible application, Coinsurance - adequate insurance, Coinsurance with deductible, Coinsurance - limit cap, Coinsurance - value at time of loss, Coinsurance - who bears shortfall, ACV calculation - contents, Pro rata other insurance calc, Pro rata return premium calc, Pair and set calc, Proximate cause example, Direct loss example, Endorsements, Definitions section, Limits - sublimits, Mortgagee - proof of loss, Mortgagee - premium, Mortgagee - cancellation notice, Subrogation example, Appraisal procedure, Appraisal costs, Proof of loss timing, Suit against insurer, Burglary definition, Robbery definition, Theft definition, Water damage vs flood, Liberalization timing, Occurrence, Named insured, Salvage value, Unearned premium, Settlement of claims - deductible, Additional coverages vs extensions, Policy conditions - concealment, Valuation

Read the Property Insurance Basics study guide

Sample questions & answers

All Property topics

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.