Property and Casualty exams are the licensing exams conducted by state department of insurance in each state of USA. These exams are required to be passed for getting licensed as insurance producer (or consultant or adjuster) in respective states. Each state has its own regulations, requirements and procedures for licensing, which may slightly differ from one another. However, it is must to pass one or the other licensing exam in all states. The property insurance protects physical assets of a person or organization against losses and risks. The casualty insurance protects from legal liabilities towards losses caused to physical properties of others.
These exams are based on knowledge of insurance regulations, basics of general insurance, property and casualty insurance basics, dwelling policy, homeowners policy, auto insurance, commercial package policy, farm property and liability coverage, business owners policy, workers compensation insurance, and Other coverage and options. The content of property and casualty insurance exams in different states may include fewer or more areas than the one mentioned above. These exams are objective tests consisting of 60 to 150 multiple choice questions. The time given to complete the exam can range from 1 hour and 30 minutes to 2 hour and 30 minutes depending upon its length.
The score in these exams is proportional to number of questions attempted correctly. Normally, the examinee must have answered 70 percent or higher questions correctly, in order to pass the licensing exam. The passing criteria may differ in different states. These exams are administered by Prometric or Pearson Vue in most of the states. There are different agencies in different states held responsible for fingerprinting and background checks.