Property Damage Loss Adjuster (재물손해사정사)
재물손해사정사 (Property Damage Loss Adjuster)
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ExploreAbout this exam
재물손해사정사 (Property Damage Loss Adjuster) is a Korean professional credential for people who investigate and quantify property damage claims - the person who determines whether a loss is covered, what it is worth, and how much the insurer should pay. It suits insurance company claim staff, loss adjusting firm employees, brokers and agents moving into technical claims, engineers and appraisers from construction, machinery or fire-safety backgrounds, and graduates aiming at the non-life insurance industry. The examination is organised into subject modules spanning insurance contract law and the Commercial Code insurance provisions, general principles of non-life insurance, fire and specialty lines adjustment, machinery/electrical/construction and erection insurance, liability insurance adjustment, adjustment practice and claim valuation, and insurance statutes and professional ethics. The 1차 (first stage) is objective multiple choice; the 2차 (second stage) is written short-answer and essay work, where candidates must show calculation logic and cite legal grounds rather than recall lists. Preparation works best in two passes: build the legal and theoretical base first (contract law, general principles, statutes), then drill the technical lines with real calculation exercises - reinstatement value, depreciation, coinsurance, indemnity periods, business interruption. Practise writing out adjustments under time pressure, and study the official notices for the current subject list, scoring and scheduling.
What you'll study
About Property Damage Loss Adjuster (재물손해사정사) preparation
What is the exam format?
The 1차 stage is multiple choice and the 2차 stage is written short-answer and essay. Subjects are administered as separate modules across sittings. Confirm the current subject list, question counts and time limits with the administering body, since these are set by official notice rather than fixed permanently.
How hard is it, and what trips people up?
The 1차 is passable with steady coverage, but the 2차 is where candidates fail: they know the theory yet cannot lay out a calculation or cite the governing provision. Weak spots are coinsurance and underinsurance, reinstatement versus indemnity value, and business interruption gross profit calculation.
What should my study order be?
Start with insurance contract law and the Commercial Code insurance provisions, then general principles - insurable interest, indemnity, subrogation, disclosure duty. These underpin every technical line. Then take fire and specialty lines, machinery and construction, and liability. Leave adjustment practice and ethics for last, integrated with past-paper writing.
Can I retake subjects I failed?
Korean professional examinations generally allow subject-by-subject retakes and partial passes, but the exact rules on pass retention periods and recognised partial passes are published by the administering body. Check its current notice rather than relying on older study guides.
How long does preparation usually take?
Most working candidates spread preparation over several months, prioritising the 1차 subjects first and reserving substantial time for written practice before the 2차. Those with claims or engineering backgrounds move faster on technical lines but still need legal precision for essay answers.
Do I need an engineering degree?
No single degree is mandated, but machinery, electrical and construction modules assume basic engineering literacy - equipment failure modes, erection sequencing, contract structures. Non-engineers should budget extra time for these and study them alongside real loss examples rather than pure theory.
How do I practise for the written stage?
Write full answers by hand under timed conditions, including the calculation steps and the legal basis for each conclusion. Then compare against the model logic, not just the final figure. Examiners award marks for structure and reasoning, so a correct number with no working can still lose points.
Where do I find dates, fees and pass scores?
The administering body publishes the current schedule, fees, passing criteria and pass-rate statistics on its official site each cycle. These figures change, so verify them there before planning; no third-party summary should be treated as authoritative.
Does this credential allow me to practise independently?
The credential is the examination qualification; actual practice as a loss adjuster also depends on registration requirements and any practical training set out in the relevant statutes. Review the current insurance-related legislation and the administering body's guidance before assuming independent practice rights.