NJ Public Adjuster study plan

Define the core insurance concepts (risk transfer, indemnity, insurable interest, utmost good faith, subrogation, coinsurance) and state in one sentence how each affects a first-party property claim.

Distinguish the named insured, additional insured, mortgagee, and loss payee, and identify who may receive claim payments in each role.

Map the structure of a homeowners and commercial property policy (declarations, insuring agreement, exclusions, conditions, endorsements) and explain where a public adjuster's work touches each part.

Explain actual cash value versus replacement cost and compute a depreciation example by hand.

Differentiate perils, exclusions, and concurrent causation, and apply the anti-concurrent-causation clause to a storm-loss scenario.

Explain deductible mechanics (flat, percentage, hurricane, split) and calculate the insured's out-of-pocket share on a sample loss.

Describe coinsurance and the penalty formula for underinsurance on a commercial property loss.

Summarize Business Income and Extra Expense coverage and the period-of-restoration concept.

List the steps a public adjuster takes from first contact through contract execution, claim filing, documentation, negotiation, and settlement.

Identify the documents typically assembled for a property claim (policy, proof of loss, inventories, photos, estimates, receipts) and the purpose of each.

Explain how to build a room-by-room contents inventory and a scope-of-damage estimate using standard estimating conventions.

Describe the difference between a public adjuster, a company adjuster, and an independent adjuster in authority and loyalty.

Draft a proof of loss with accurate figures and explain the consequences of overstating or understating values.

Outline the appraisal and mediation processes and when each is appropriate in a disputed claim.

Explain how to document and present a business income claim, including the period of restoration and mitigation.

Describe how to handle a claim involving an uncooperative insurer, including written follow-up and documentation of delay.

State the licensing requirements for public adjusters in New Jersey, including prelicensing education, examination, and appointment or registration steps.

Identify continuing education obligations and license renewal requirements.

Explain the rules on adjuster contracts, including required written terms, fee caps, and the insured's right to rescind.

Describe the standards for solicitation and advertising, including prohibited practices around disaster scenes.

Summarize the unfair claim settlement practices and claims-handling timelines imposed on insurers that a public adjuster should monitor.

Explain the regulatory authority of the New Jersey Department of Banking and Insurance over licensees and the disciplinary process.

Describe recordkeeping and trust-account obligations for funds held on behalf of insureds.

Identify the penalties for unlicensed adjusting and for misrepresentation on a license application.

Explain fiduciary duty as it applies to client funds, claim proceeds, and confidential information.

Identify common conflicts of interest (referral fees, contractor relationships, dual roles) and how to avoid them.

Describe prohibited conduct such as charging unearned fees, misrepresenting coverage, or negotiating without authority.

Apply an ethical decision framework to three realistic dilemmas and justify each resolution.

Review all four domains using a timed, mixed practice exam and analyze every missed item by domain.

Re-derive the coverage calculations and fee calculations most likely to appear on the exam.

Recite the licensing, contract, and fiduciary rules without notes.

Build a personal weak-area list and close each gap before test day.