Property & Casualty Insurance Exam: Pass With 100% Free Training

Property & Casualty Insurance Exam: Pass With 100% Free Training

Do you want to pass the Property & Casualty exam with a free training guide? You see… to become an expert adjuster you need some good training, but don’t worry, Major Adjusters specialize in helping newbies pass the exam and get trained. Continue reading to learn how you can get property and casualty training after passing the exam.

So, get ready! 

Foundational Insurance Terms

In this article, we are going over some foundational insurance terms to help you with the property and casualty Adjuster exam. This should be broad enough to apply to whichever state you are in. So, without further delay let’s get started!

Property & Casualty Insurance Exam: Pass With 100% Free Training

Want to be an Adjuster?

Do you want the Claims Adjuster Exam Secrets Study Guide? To become an adjuster, you need some good training. What??? Don’t have anyone to give you proper training? No need to worry! You are surely going to get professional and solid training here. This is what we will talk about in this article.

So, get ready! 





In this article, we are going over some foundational insurance terms to help you with the property and casualty Adjuster exam. This should be broad enough to apply to whichever state you are in. So, without further delay let’s get started!




  • Insurance
  • Insurer
  • Insured
  • Premium
  • Policy
  • Risk
  • Hazard
  • Peril
  • Loss


These are the definitions that we are going to discuss. Now, most of you may have general knowledge about insurance but if you don’t, we are going to start from the basics. Make sure you are grasping the concepts and the definitions.




Insurance is a financial tool that protects individuals and organizations from unforeseen and extraordinary financial losses by transferring risk to another party. 

Like, if you have an accident, you are going to be responsible for all the loss, damage, and injuries, right? 

But, if you go for insurance, you can hand over all these responsibilities to a second company.

Property & Casualty Insurance Exam | On The Job Training



Now, what is an insurer? An insurer is a party that agrees to compensate people, companies, and other organizations for specific financial losses. Yes! Companies also go for insurance policies to manage themselves in some kind of serious financial loss. Even insurance companies have insurance that is called Re-insurance.




The insured is the person or organization or company that would receive payment from the insurance company if a particular event happens. It’s not going to cover every event; it’s also not going to give you payment if nothing happens. There has to be a sudden and accidental event that will cause the insurer to make payment to the insured.




That’s a general question every new adjuster asks about. An insurance premium is simply the payment made to an insurer to transfer risk when an accident happens. So, the cost isn’t paid out of pocket.


 Now, here comes a question; why the premium is not simply called payment while both are the same in meaning? The answer is just simple. The ‘premium’ is an old-fashioned term, perhaps a good sales trick. It sounds good and professional while the word ‘payment’ does not sound good. So, you want to make clients right? You have to use the word premium then!

auto insurance




So here comes the most important question. An insurance policy is a contract between the insurer and the insured, detailing the terms and conditions of a contract of insurance that determines the claims that the insurer is legally required to pay. So, you can say insurance policy is the CONTRACT OF INSURANCE.  

Here are some parts of the insurance policy:

  • Declarations
  • Insuring agreement
  • Conditions
  • Exclusions
  • Definitions
  • Endorsements


This is the likelihood that an insured event will occur, requiring the insurer to pay the claims. You are going to have two types of risk:


It’s a situation that holds out the prospects of loss, gain, or no loss no gains

For instance, gambling and investing in the stock market are two main speculative risks…

‘Not insurable’ because of potential gains


It’s a type of risk where no profit or gain is possible and only full loss, partial loss, or break-even situations are the probable outcomes.

For instance, flooding, fires, wind damage, and other natural disasters that cause the loss of personal belongings. 

Only ‘pure risks are insurable’ because they involve only the chance of loss.





Now, what is a hazard? A hazard is a condition that increases the chances of a loss occurring. Didn’t get that? Okay, let us explain to you.


Let’s take an example; there is a man who has become a bullfighter. Now, being a bull-fighter you are likely to face many hazards or accidents. While fighting that bull you are being charged, you are using knives. Also, there is a possibility of you being trampled or wounded. So, that’s a hazard.  


There are four different types of hazards:


  • Moral hazard
  • Legal hazard
  • Moral hazard
  • Physical hazard




Insurance peril is a specific risk or cause of loss covered by an insurance policy, such as fire, windstorm, theft, or flood. 


A ‘named-peril’ policy covers the policyholder only for the risks named in the policy in contrast to an all-risk policy, which covers all causes of loss except those specifically excluded.


Tired? Don’t worry only the last term remaining. So let’s get to it quickly! 




This is a very important term that needs to be understood finely. An insurance loss is an injury or damage that an insured suffers because of a covered accident or misfortune. 


It generally refers to a reduction in a property’s value or to harm affecting a person, such as an injury after a car accident. 

what does a public adjuster do

So, that was all about the claims adjuster exam secrets study guide! I hope you grasped it very tightly. Also, it may have helped you in clearing all your basic concepts. If you have read and understood them properly, you surely are going to be AN EXPERT & AWESOME ADJUSTER! 


Want to know more?

You can read this article and watch the following video


17 thoughts on “Property & Casualty Insurance Exam: Pass With 100% Free Training”

  1. Good Evening, I am seeking employment. I was referred by Keioni Hobbs who recently had a zoom meeting regarding employment. I have my license from Texas and seeking to be become employed. I will greatly like to have a zoom meeting for more information regarding employment and getting started as an adjuster.

  2. Hi, I’ve held my FL 6-20 for years, I’m trucker for Walmart, and I wasn’t in a position at the time to make a career change. I would like to pick up where I left off with as a newly licensed adjuster and go from there. I’m looking for additional advice, training and mentorship. Can you help? I can be reached at 863.738.6068, or 863.430.4793. It’s best to send me a text first, because I usually don’t answer unknown calls due to all the spam calls I get all day everyday. I look forward to hearing from you soon. Thanks in advance and have a great day!

  3. robert skibicki


    I just ordered the exam questions for the florida adjuster 70-20 and I saw two orders, so, I cancelled one. The other is on hold. Can I pay via debit card to speed this up? How long is it on hold?

  4. Hello! This is kind of off topic but I need some help from an established blog. Is it hard to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about setting up my own but I’m not sure where to start. Do you have any tips or suggestions? Thanks

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