Public Insurance Adjuster License Exam Flashcards

100 scoreable questions.

About 1.2 minutes per question (120 minutes ÷ 100 questions), so pace yourself and don't linger.

120 minutes (2 hours).

$39.

An adjuster who is employed by and represents the insured (policyholder) — not the insurance company — in negotiating and settling first-party property claims for a fee.

A company/staff adjuster works for the insurer; an independent adjuster is hired by the insurer on contract; a public adjuster is retained by and advocates for the policyholder.

First-party: the insured's own claim against their own policy. Third-party: a claim by an outside party against the insured. Public adjusters handle first-party property claims.

An insured should be restored to their pre-loss financial condition — made whole — but not allowed to profit from a loss.

ACV = replacement cost minus depreciation. RCV = full cost to replace without deducting depreciation.

The portion of a covered loss the insured pays out of pocket before the insurer's payment applies.

A sworn, formal statement from the insured documenting the amount and details of a claimed loss, typically required within a set period after the loss.

The insurer's right, after paying a claim, to pursue a third party responsible for the loss to recover the amount paid.

They owe a fiduciary duty to the insured; they may negotiate claims but generally cannot give legal advice, have a financial interest in the repair work, or misrepresent policy terms.

Named perils such as fire, lightning, windstorm, hail, explosion, smoke, vandalism, and theft; flood and earth movement are typically excluded and require separate coverage.