Updated Texas Property and
Casualty License Exam – 100+
Most Recuring Questions &
Certified Answers | Already
Graded A+ (Ultimate Guide for
YR. 2026/2027)
Key Topics Covered in this Exam
➢ General Insurance Concepts: Risk, peril, hazard,
indemnity, insurable interest, underwriting, claims.
➢ Property Insurance: Types of property, covered perils,
policy conditions, valuations.
➢ Casualty Insurance: Liability, negligence, torts,
defenses, workers' compensation.
➢ Policy Structure: The four parts of a policy
(Declarations, Insuring Agreement, Conditions,
Exclusions) and where to find information.
➢ Texas Laws & Regulations: Specific state rules for
property and casualty agents.
, Quiz_________________?
Property vs Casualty: What is considered property? -
Answer☑️
Structure & Personal Property
Quiz_________________?
Property vs Casualty: What is considered casualty? -
Answer☑️
Non-property losses. Legal liability to others. 3rd Party
Quiz_________________?
Risk -
Answer☑️
uncertainty of financial loss
Quiz_________________?
Pure Risk -
Answer☑️
Chance of Loss
Quiz_________________?
Speculative Risk -
Answer☑️
Chance of Loss or Gain (Gamble)
Quiz_________________?
, Insurance (covers which type of risk?) -
Answer☑️
Pure Risk Only
Quiz_________________?
How does the law of large numbers apply in insurance? -
Answer☑️
Actuaries use the law of large numbers to estimate claims
Quiz_________________?
What is the law of large numbers? -
Answer☑️
as the number of a similar loss exposure increases, the more
accurate claims can be predicted from the group.
Quiz_________________?
What is a peril? -
Answer☑️
cause of loss
Quiz_________________?
What is a hazard? -
Answer☑️
things that increase the chance of a peril happening
Quiz_________________?
Three types of hazards -
Answer☑️
Physical: visible characteristic (dead tree)
Casualty License Exam – 100+
Most Recuring Questions &
Certified Answers | Already
Graded A+ (Ultimate Guide for
YR. 2026/2027)
Key Topics Covered in this Exam
➢ General Insurance Concepts: Risk, peril, hazard,
indemnity, insurable interest, underwriting, claims.
➢ Property Insurance: Types of property, covered perils,
policy conditions, valuations.
➢ Casualty Insurance: Liability, negligence, torts,
defenses, workers' compensation.
➢ Policy Structure: The four parts of a policy
(Declarations, Insuring Agreement, Conditions,
Exclusions) and where to find information.
➢ Texas Laws & Regulations: Specific state rules for
property and casualty agents.
, Quiz_________________?
Property vs Casualty: What is considered property? -
Answer☑️
Structure & Personal Property
Quiz_________________?
Property vs Casualty: What is considered casualty? -
Answer☑️
Non-property losses. Legal liability to others. 3rd Party
Quiz_________________?
Risk -
Answer☑️
uncertainty of financial loss
Quiz_________________?
Pure Risk -
Answer☑️
Chance of Loss
Quiz_________________?
Speculative Risk -
Answer☑️
Chance of Loss or Gain (Gamble)
Quiz_________________?
, Insurance (covers which type of risk?) -
Answer☑️
Pure Risk Only
Quiz_________________?
How does the law of large numbers apply in insurance? -
Answer☑️
Actuaries use the law of large numbers to estimate claims
Quiz_________________?
What is the law of large numbers? -
Answer☑️
as the number of a similar loss exposure increases, the more
accurate claims can be predicted from the group.
Quiz_________________?
What is a peril? -
Answer☑️
cause of loss
Quiz_________________?
What is a hazard? -
Answer☑️
things that increase the chance of a peril happening
Quiz_________________?
Three types of hazards -
Answer☑️
Physical: visible characteristic (dead tree)
