Podcast
Insurance Exam Prep
Hosted by Ran Chen, EA, CFP® · EN
Insurance Exam Prep is a daily podcast designed to help future insurance professionals pass their licensing exams with clarity and confidence.
Built and operated by OpenExamPrep, this podcast breaks down insurance licensing exams into focused, easy-to-digest episodes covering Life Insurance, Health Insurance, and Property & Casualty, across both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions.
Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Insurance Exam Prep was developed from firsthand experience with how complex—and often poorly taught—insurance exam material can be. The goal is simple: make insurance exam preparation clearer, more accessible, and more effective through structured explanations and modern learning tools. Whether you’re preparing for a Life, Health, or P&C exam, just starting your licensing journey, or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time.
Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/
49episodes
Episodes
Newest firstAll episodes
Property & Casualty Exam Prep 26, National Flood Insurance Program Basics
3d ago00:03:09Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why standard homeowners policies exclude flood damage and the purpose of the National Flood Insurance Program (NFIP). - The critical distinction between building coverage for the structure and contents coverage for personal belongings. - The standard 30-day waiting period for an NFIP policy to become effective and its common exceptions. - The concept of Special Flood Hazard Areas (SFHAs) and the mandatory insurance purchase requirement. - Common exam traps, such as the limited coverage for personal property in basements. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 25, Personal Articles, Inland Marine, and Floaters
4d ago00:03:36Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why Inland Marine insurance exists to cover movable property, filling a gap left by standard fixed-location policies. - How a Personal Articles Floater provides broad, open-peril coverage for scheduled valuables like jewelry and cameras. - The distinction between personal floaters and commercial floaters, such as a Contractor's Equipment Floater. - What transit coverage is and how it protects property being transported from one location to another. - The definition of a bailee and how a Bailee's Customer Policy covers customer goods in their temporary possession.
Transcribe →Property & Casualty Exam Prep 24, Dwelling Policy Perils and Loss Settlement
5d ago00:03:20Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That the DP-1 is a basic, named-peril policy that pays all claims on an Actual Cash Value basis. - How the DP-2 broadens coverage with more named perils and introduces Replacement Cost for the dwelling. - Why the DP-3 offers superior open-peril coverage for the dwelling but retains named-peril coverage for personal property. - That theft of personal property is not a standard peril on any Dwelling Policy form and must be added by endorsement. - How the 80% coinsurance rule is critical for receiving Replacement Cost settlement on the DP-2 and DP-3. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 23, Dwelling Policies DP-1, DP-2, and DP-3
6d ago00:03:16Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Dwelling policies are primarily for non-owner-occupied properties like rentals, whereas homeowners policies are for owner-occupied residences. - The DP-1 (Basic Form) is a named peril policy that settles losses on an Actual Cash Value (ACV) basis. - The DP-2 (Broad Form) covers more named perils than the DP-1 and upgrades building coverage to a Replacement Cost basis. - The DP-3 (Special Form) provides open peril (all-risk) coverage for the dwelling structure but retains named peril coverage for personal property. - Liability and theft are not standard coverages in any dwelling policy and must be added by endorsement. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 22, Homeowners Special Limits and Scheduled Property
1w ago00:02:41Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Standard exam sublimits for money ($200), jewelry ($1,500), and firearms ($2,500). - Why theft-related sublimits for items like jewelry and silverware do not apply to other perils like fire. - The different on-premises ($2,500) and off-premises ($500-$1,500) limits for business property. - How the Scheduled Personal Property Endorsement provides agreed-value, open-peril coverage to bypass sublimits. - Why appraisals are necessary to schedule high-value items and how this impacts claim payments. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 21, Homeowners Exclusions
1w ago00:03:28Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why catastrophic perils like flood and earth movement are excluded and require separate policies. - The difference between covered sudden and accidental damage versus excluded gradual wear and tear or neglect. - That the Ordinance or Law exclusion applies to the increased cost of rebuilding to code, not the initial loss itself. - How the location of a power failure (on-premises vs. off-premises) determines if a resulting loss is covered. - That homeowners policies exclude business-related risks, which require commercial coverage or a specific endorsement. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 20, Homeowners Perils and Open Perils
1w ago00:02:31Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The fundamental difference between named perils (what's listed is covered) and open perils (what's not excluded is covered). - How the common HO-3 policy provides open perils coverage for the dwelling and named perils for personal property. - Why the burden of proof shifts from the insured in a named perils policy to the insurer in an open perils policy. - Exam-style scenarios, like why a deer damaging a wall is covered on an HO-3 but damage to a couch is not. - Key limitations on broad form perils, such as the 60-day vacancy clause for vandalism coverage. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 19, Homeowners Section II Liability Coverages
1w ago00:02:45Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How Coverage E (Personal Liability) protects you when you are legally at fault for injuries or property damage. - The function of Coverage F (Medical Payments) as a no-fault coverage to handle minor injuries and prevent lawsuits. - Who is considered an "insured" under the policy, including resident relatives and minors in your care. - Common exam traps related to the exclusion of business activities and its exceptions for young insureds. - The key difference between liability coverage, which requires fault, and medical payments, which do not. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 18, Homeowners Section I Property Coverages
2w ago00:02:45Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Coverage A (Dwelling) protects the main home, attached structures, and construction materials on site. - Coverage B (Other Structures) has a standard limit of 10% of Coverage A and excludes structures used for business. - Coverage C (Personal Property) is typically 50% of Coverage A and has special sub-limits for items like jewelry and silverware. - Coverage D (Loss of Use) pays for the *increase* in living expenses, not normal ongoing costs like a mortgage. - The mnemonic "Don't Overlook People's Losses" is a simple way to recall the first four property coverages. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
Transcribe →Property & Casualty Exam Prep 17, Homeowners Forms HO-2, HO-3, HO-4, HO-5, HO-6, and HO-8
2w ago00:03:04Tap to summarizeThis podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The key difference between Named Peril (HO-2) and Open Peril (HO-3, HO-5) coverage. - Why the HO-3 is a hybrid policy and a common source of exam traps regarding personal property. - How the HO-5 offers the broadest protection for both the dwelling and personal property. - The specific uses for an HO-4 renters policy and an HO-6 condo unit-owners policy. - When the HO-8 modified form is used and how it differs in loss settlement. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep
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