NV Claims Adjuster study guide
NV Claims Adjuster · Work through your exam, one topic at a time.
The Nevada claims adjuster credential is a state license that authorizes you to investigate, evaluate, and settle insurance claims in Nevada. It applies to independent adjusters who work for multiple carriers, public adjusters who represent policyholders, and staff adjusters whose employer handles licensing directly. The NV Claims Adjuster study guide has 9 sections and about 3,517 words.
01Insurance Regulation and Nevada Insurance Law
The Nevada Division of Insurance, headed by the Commissioner of Insurance (appointed by the Governor), administers NRS Title 57 - the Nevada Insurance Code. The Commissioner issues certificates of authority to insurers, licenses producers and adjusters under NRS 683A and NRS 684A, reviews rates and policy forms, examines insurer books, and enforces the trade-practice rules of NRS 686A.
434 words, about 2 min02General Insurance Concepts and Principles
Risk is the chance of loss; peril is the cause of loss (fire, wind, collision); hazard is a condition that increases the chance or severity of loss. Hazards come in three flavors: physical (a frayed wire), moral (an insured with a motive to create a loss), and morale (indifference, like leaving keys in a car).
413 words, about 2 min03Insurance Terms, Policies, and Contract Law
Every policy has five moving parts: declarations (who, what, where, how much, which forms), the insuring agreement (the promise to pay), conditions (duties of the insured and insurer), exclusions (what is carved out), and definitions (which control meaning everywhere the term appears). Endorsements amend all of it, and a later endorsement controls over conflicting printed text.
403 words, about 2 min04Property Insurance and Policy Provisions
Homeowners forms (HO-2, HO-3, HO-5, HO-8) and dwelling forms (DP-1, DP-2, DP-3) share a structure: Coverage A dwelling, B other structures, C personal property, D loss of use, E personal liability, F medical payments. Named-peril forms list covered perils; open-peril (special) forms cover everything except listed exclusions.
357 words, about 2 min05Casualty Insurance and Liability Coverage
The CGL is the backbone of commercial liability. Coverage A pays sums the insured becomes legally obligated to pay as damages because of bodily injury or property damage caused by an occurrence (an accident, including continuous or repeated exposure).
396 words, about 2 min06Auto and Personal Lines Coverages
Nevada is a tort (at-fault) state, not a no-fault state. NRS 485.185 requires minimum liability limits of 25,000 per person / 50,000 per accident for bodily injury and $20,000 for property damage .
372 words, about 2 min07Commercial Lines Coverages
Commercial property : building and business personal property, with causes-of-loss forms (basic, broad, special), coinsurance, blanket versus specific limits, and optional coverages like agreed value. Business income and extra expense : replaces lost net income and continuing expenses during the period of restoration, plus extra costs to resume operations.
356 words, about 2 min08Claims Handling, Investigation, and Settlement Practices
Notice of loss → acknowledgment → investigation → coverage determination → damage evaluation → negotiation → payment and closing. Each stage has a document trail, and the trail is what a market-conduct examiner or a bad-faith plaintiff will read.
367 words, about 2 min09Adjuster Ethics, Licensing, and Unfair Claims Practices
Nevada requires a license to adjust claims for an insurer, for an independent adjusting firm, or as a public adjuster representing the insured. Applications run through the Division of Insurance, with fingerprinting and background review; nonresident adjusters may qualify through reciprocal licensing.
419 words, about 2 min