This Study Guide has been prepared to enhance your learning experience. It contains all of the Check-In questions, Knowledge Checks, and Self-Quizzes contained within the course, along with an Answer Key and Glossary. Use it as a tool to help practice and assess your knowledge of the course material, but do not mistake it for a comprehensive “short-cut” to preparing for the final exam.
Be sure to take a look at the Appendix that follows the Answer Key in this Study Guide. It contains valuable suggestions for test preparation and study techniques, as well as some sample exam questions and a glossary of terms.
Your path to success in passing the final exam will come from your attentiveness during the course and the effort you put into preparation.
Study Set
Use this study set to review digital flashcards and play interactive vocabulary games for the insurance & risk management terms found in the glossary of this course!
Review Game
Use this trivia-style review game to test your knowledge prior to taking the final exam for this course!
Section 1 – Introduction to the Personal Auto Policy
Eligibility vs. Coverage
This video discusses the importance of knowing the difference between eligibility for an ISO Personal Auto Policy and applicable coverage at the time of a loss.
What is a Vehicle?
This video details what may be considered a motor vehicle.
Reading a Policy with Endorsements
This video discusses the fluidity of reading a Personal Auto Policy with endorsements.
Section 2 – Personal Auto Policy and Liability Coverage
Financial Responsibility Requirements by State
Produced by the Insurance Information Institute
This document is a summary of the financial responsibility requirements for each state.
Contract of Utmost Good Faith
This video explains the importance of trust between the insurance company and the policyholder.
PAP – Who is a “Family Member”?
This video summarizes who may be considered a “family member” as defined in the ISO Personal Auto Policy. Comprehension is necessary to understand coverage and exclusions within the policy.
“Your Covered Auto”
This video discusses the definition of “your covered auto” and explains which vehicles will receive coverage from the ISO Personal Auto Policy.
“Newly Acquired Auto”
This video delivers details on which vehicles qualify for the automatic coverage provided by the ISO Personal Auto Policy and when it applies to vehicles that are newly purchased or obtained.
How much liability coverage should I have?
This video discusses how to help personal auto clients decide how much Liability Coverage they should purchase.
PAP – Liability Coverage – Who is an “Insured”?
This video discusses the definition “insured” to understand who gets the benefit of protection under Liability Coverage provided by the ISO Personal Auto Policy.
PAP – Liability Coverage – Reasons for Exclusions
This video explores common reasons for Liability exclusions found in the ISO Personal Auto Policy.
Out of State Coverage
This video provides information on how the Personal Auto Policy adjusts to financial responsibility and other compulsory laws when clients travel within covered territories.
Section 3 – Medical Payments and/or Personal Injury Protection
PAP – Med Pay and/or PIP Coverage
This video highlights coverage details and differences between Medical Payments Coverage and Personal Injury Protection offered in the ISO Personal Auto Program.
Section 4 – Uninsured and/or Underinsured Motorists Coverage
Financial Responsibility Requirements by State
Produced by the Insurance Information Institute
This document is a summary of the financial responsibility requirements for each state.
Compensatory Damages
Property & Casualty Insurance Essentials ©2016 The National Alliance Research Academy
This document explains the objective of compensatory damages.
Uninsured and Underinsured Motorists Coverage
This video explores the importance and purpose of Uninsured Motorists Coverage provided by the ISO Personal Auto Policy and Underinsured Motorists Coverage, when purchased.
Section 5 – Coverage for Damage to Your Auto
Actual Cash Value – Glossary
In this video, listen to Academic Director, Paul Martin, discuss the meaning of actual cash value.
"Collision" and Other Than "Collision"
This video discusses the coverage differences between “Collision” and Other Than “Collision” coverage provided by the ISO Personal Auto Policy.
Exclusions: Coverage for Damage to Your Auto
This video outlines common coverage exclusions for damage to covered autos insured by the ISO Personal Auto Policy.
Section 6 – Coverage for a Rented Vehicle
Coverage for Rental Vehicles
This video discusses the financial exposure personal auto clients face when renting a vehicle and how to help clients understand their Personal Auto Policy coverage as well as identify other coverage options available to minimize their risk.
