APP Study Guide 2026
Everything you need to pass the APP exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 APP Exam Format at a Glance
📚 APP Topics to Study (21)
✍️ Sample APP Questions & Answers
1. Which form of insurance is specifically designed to cover losses when a key person in a business dies or becomes disabled, protecting the business's financial assets?
Key person insurance compensates a business for financial losses stemming from the death or disability of a critical employee or owner, preserving business assets and continuity.
2. What ethical standard governs communication and documentation practice?
Professional ethics codes and applicable laws provide the framework for ethical practice in every professional field.
3. Which type of business continuity site is fully equipped with hardware, software, and data and can be operational almost immediately after a disaster?
A hot site mirrors the primary operations environment and can be activated almost immediately, minimizing downtime and protecting revenue-generating assets during a crisis.
4. Directors and Officers (D&O) liability insurance protects against claims alleging:
D&O insurance covers executives and board members for claims alleging mismanagement, breach of fiduciary duty, or other wrongful acts in their corporate roles.
5. Which of the following is an example of a legal safeguard?
An asset protection trust is a legal safeguard specifically designed to shield assets from future creditors, lawsuits, and judgments. By transferring ownership of assets into an irrevocable trust, the grantor can protect them from being seized to satisfy personal liabilities, making it a key tool in comprehensive asset protection planning.
6. Which of the following helps avoid probate?
A living trust, also known as an inter vivos trust, is a legal arrangement that allows assets to be transferred into the trust during the grantor's lifetime. A significant benefit is that assets held in a living trust typically bypass the probate process upon the grantor's death, allowing for a quicker and more private distribution to beneficiaries.