# Property & Casualty Exam Prep 75, Exam Strategy and Common P&C Traps

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Text version: https://stenobird.com/podcast/insurance-exam-prep-7644557/property-casualty-exam-prep-75-exam-strategy-and-common-p-c-traps.md
Podcast: [Insurance Exam Prep](https://stenobird.com/podcast/insurance-exam-prep-7644557)
Published: 2026-08-16T23:26:01+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/c7763c4d-f149-4f62-98d0-739f7a9dabff.mp3
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Duration seconds: 219

## Resource

This 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 crucial difference in the burden of proof between named peril and open peril policies. - How to calculate Actual Cash Value (ACV) by subtracting depreciation from replacement cost. - To distinguish between liability coverage, which requires fault, and medical payments, which does not. - That property insurance is first-party coverage for your assets, while casualty is third-party coverage for your liability. - Why common exclusions like flood and business use are frequent and critical exam topics. 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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## Transcript

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