What Is A Property And Casualty Insurance License
A Property and Casualty Insurance License enables an insurance agent or broker to sell or negotiate property and casualty insurance policies that protect people and businesses from financial losses resulting from property damages, accidents, theft, bad weather conditions, and other covered events.
Property insurance and casualty insurance are actually two separate lines of coverage, but in most cases, youll need to be licensed to sell both to work for an insurance agency.
Most insurance agents combine these two lines of authority, such as getting both property and casualty insurance licenses. It is a good idea to be licensed in as many insurance disciplines as possible to make yourself more attractive as an insurance professional and to be able to offer comprehensive solutions to your clients.
Along with the property and casualty license, agents will also generally get their Life and Health license.
Note: The P& C license can sometimes be incorrectly referred to as a “PNC license.”
Where Is The Texas Property & Casualty Insurance Licensing Exam Given
Pearson VUE has many testing locations throughout Texas. Regardless of which one you choose to take your exam at, Pearson VUE recommends you arrive at the testing center at least 30 minutes before your scheduled exam so you can check-in. You should also be aware the testing center is a very serious place. They may make you empty your pockets and put all your personal belonging in a locker in the waiting room before you enter the testing room.
What Is The Property And Casualty Insurance Exam
The property and casualty exam is a pre-license requirement by the state. The exam tests your knowledge of the general terms, concepts, and policies in selling property and casualty insurance.Taking the P& C insurance license exam can be the most challenging step in the licensing process. The overall pass rate for the insurance exam is 60%, according to the National Association of Insurance Commissioners . The insurance exam is not one to take lightly and requires preparation and planning.Enrolling in an exam prep course will help you prepare and pass the exam on your first try. The property and casualty insurance exam covers the basic elements that you learned in your property and casualty insurance exam prep course, including information about writing policies and contracts, policy standards, and general underwriting and insurance questions that will be relevant to your position in the long run.
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What Questions Are On The P & C Test In Texas
All Texas insurance exams are multiple-choice and delivered via computer. The questions you will encounter on the property and casualty exam in Texas are pulled for each individual test-taker by Pearson VUE from their databank of thousands of questions. In other words, each exam is different and created for each individual test taker.
This is why it is so important to understand the concepts found in the exam outline to successfully answer any question you encounter on the exam. Below you will find a few sample Texas Property and Casualty practice exam questions pulled directly from our Texas P& C insurance license exam prep course, which are similar to those you will encounter on the exam:
Property Sample Questions:
All of the following are true regarding the DP-2 broad form policy EXCEPT:
A. It is a named peril formB. It is ACV on the contentsC. It contains the 80% coinsurance clauseD. Theft is a covered peril
Answer: DExplanation: Theft of contents is never covered on a dwelling fire policy, although coverage for theft of personal property may be added by an endorsement called the broad form theft, or by adding a type of inland marine insurance called a personal articles floater . Do not confuse a DP policy with an HO policy.
You have an HO-3 policy on your dwelling that you are in the process of moving out of. How long are your contents that you move to your new residence automatically covered on your policy?
A. 10 daysD. 60 days
Casualty Sample Questions:
What Score Do I Need To Pass
The passing score is 70 for all Texas insurance exams.
Each exam has two partsa national insurance section and a state rules section. While some states score each section separately, Texas mixes the scores together. This gives you an advantage since you only need a single score of 70 to pass.
Your exam will be scored on the spot, so you will know right away whether you passed. But you will not be told which questions you got right or wrong.
If you dont pass on your first try, you can sign up to take the test again after a mandatory waiting periodusually 1-3 days.
There are testing centers all over Texas, from Amarillo to Dallas-Fort Worth to Corpus Christi. You can also take a proctored exam online at home. Proctored means someone monitors you through your computers webcam while you take the exam. Learn more here.
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What Are Some Study Resources For The Property & Casualty Insurance License Exam
It is normal to experience anxiety when preparing for an exam especially an exam that can advance your career. Understanding the test topics and structure in advance will not only decrease your anxiety but help you earn a higher score. We understand that this is easier said than done, so our expert test researchers developed the Mometrix Property & Casualty Insurance Study Guide. This comprehensive guide is designed to help you thoroughly understand and review the topics found on the Property & Casualty Insurance Exam. Our experts understand that practice before the examination is only half of the battle, so this in-depth study guide includes well-researched test-taking strategies that will help you effectively answer the test questions. For example, when you are taking a test, have you ever felt like you were answering the questions too slowly or too quickly? This study guide will help with that and so much more!
Research shows that repetition is one of the most effective test-taking strategies, so our test-taking experts also developed the Mometrix Property & Casualty Flash Cards. Designed with professional-quality material, these flash cards feature thorough, yet easy-to-read explanations of all the major topics on the test, like Broad Theft Coverage and Endorsements for BOP. The Mometrix Property & Casualty Flash Cards are ideal for quizzing and studying and on the go!
What Are The Requirements For Earning The Property And Casualty License
The qualifications for taking the Property & Casualty Insurance Exam depend on many factors including the states regulations, and whether the applicant is applying for a state license outside their residency. An example is a Maryland resident applying for a non-resident Florida insurance license.
In many states, passing the Property & Casualty Insurance Exam is only one of the requirements for applying for a license. Each state has a different set of qualifications for taking the exam, including the completion of a Pre-Licensing Course, a background check, and training. After passing the exam and completing the other requirements, candidates may apply for the license.
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How Much Does The P& c Insurance Exam Cost
The cost of the insurance exam depends on your states requirements and could be anywhere from $40 to $150, averaging around $70 per attempt.While retaking exams is possible, it can get expensive. Take your exam prep course properly coupled with some serious studying and do everything you can to pass the exam on your first try.If you are interested in taking an exam prep course, check out our review of the Kaplan Insurance Pre-License Course.
Sample Property And Casualty Exam Prep Course Videos:
Our course was created for someone who has NO insurance background at all! Using our 14-day study plan, you will start building an insurance definition-based foundation that will have you ready to answer all your exam questions correctly by the end of the course. Although our course does include a Texas Property and Casualty insurance license exam study manual in PDF format, our course is highly video-based. Come on insurance is boring enough, but our instructor Scott makes it easy to understand. Sample course videos below:
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Property And Casualty License Exam
Passing the property and casualty insurance exam is one of the requirements before applying for a license. Each state has a different set of qualifications for taking the exam.
Some states require a pre-licensing course before qualifying to register for the exam, while some states do not require a pre-licensing course. There are also some states that only need a completion certificate to present at the test center on exam day.
An insurance pre-licensing course will provide the general knowledge and state-specific information you need to study to pass the state licensing exam. If your state requires pre-license education credit hours, this course will also complete those requirements.
For pre-license education products and courses, StateRequirement recommends:Kaplan Education Company
After completing your pre-license course, you will need to register to take the license property and casualty insurance exam. For information on registering for the exam, you can find more information on your states insurance license page.
Make sure to follow registration guidelines as required by your state. Incomplete or late registration may delay your exam and cost you additional fees.
Nrs/ad Banker Property And Casualty Insurance License Course
With a slightly limited catalog than the other listed courses, NRS still has something to offer you when preparing for a career selling property & casualty insurance. Additionally, the need to sign up for an account with a separate site before even viewing their insurance pre licensing course catalog is somewhat concerning. But once you do, youll have the following options:
- Online Course: This option provides you with practice exams, practice questions, a pass guarantee, mobile compatibility, and the choice of flashcards for an extra fee.
- Classroom: Depending on your state and city, you might be able to attend physical classes for a traditional learning experience if you book a specific date. You can add on extra practice exams or flashcards for a higher price.
- WebClass: Essentially an upgraded version of the Online Course with live instruction from a professor with personal insurance experience. Much like the physical classroom option, youll need to book a specific date ahead of time.
Its important to also keep in mind that NRS offerings also have a heavy focus on Continuing Education. While this may be useful to you in the future, it can make it confusing to differentiate their catalog offerings especially when considering the need to sign up for an account just to access half of them!
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What Can I Do With A Property And Casualty License
Once you passed the exam, completed a background check, and turned in your application, your states insurance authority will review your request for a license. Once you are approved, you will receive an email advising you that your license has been issued with instructions for printing a copy of your license.
When applying for an insurance-related job, your employer will ask for your license number and National Producer Number .
Property & Casualty Study Guide
Mometrix Academy is a completely free resource provided by Mometrix Test Preparation. If you find benefit from our efforts here, check out our premium quality Property & Casualty study guide to take your studying to the next level. Just click the Property & Casualty study guide link below. Your purchase also helps us make even more great, free content for test-takers.
Upgrade your studying with our Property & Casualty License study guide and flashcards:
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Property And Casualty Study Guide Customer Success Stories
I passed my NC Property and Casualty exam a couple of months ago because of this book. It’s a great comprehensive review that highlights the main concepts that you need to remember for the Property and Casualty exam.
This is the reason I passed my exam. I read through this before I took my exam, and learned more in that day then I did taking the classes that whole time. This book will lay out everything perfectly for you. The study guide is amazing. I know that I used the book a little different then suggested. If you did actually use this book the way the authors intended you will be a walking insurance machine. I will definitely use these books for anything, and everything that I am tested on in the future.
Already it is way better than the one from the course I took a week ago. It matches my learning style and it is cleanly written in plan language. Just what I wanted. Thank you for making this much better for me. Since I am already licensed in health and life I need to add P& C.
This study guide was an excellent supplement to my studies for the P& C exam. It was concise and straight to the point. It gave good study tips and had great practice exams detailing the course. I would seriously recommend for anyone wanting to be sure to pass their exam with ease.
I have found this study guide from Mometrix to be so much better than others I have read. The format is very good and I found it much easier to focus on what’s important to know.
How Do I Schedule My Property & Casualty Insurance Exam In Texas
You can schedule your exam with Pearson VUE online at or by calling them at 1-888-754-7667. You must be at least 18 years of age before sitting for the exam and have a valid Social Security number.
Pro tip: Make sure to schedule your exam well in advance of completing our course so you can make sure to get the date and time you want at the test center of your choice. Pearson VUE encourages candidates to make their exam reservation at least twenty-four hours in advance. We recommend even further in advance. Keep in mind exam testing fees are not accepted at the test center.
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How Hard Is The Property And Casualty Exam
To pass the property and casualty exam, most states mandate a passing score of 60%. According to the National Association of Insurance Commissioners , the passing rate for property and casualty insurance is 54.9%.
Passing the property and casualty exam can be a challenging process, but taking an exam prep course and developing a good study program can help you prepare and pass the exam.
If you fail the exam, you can retake it, but some states may require you to wait at least 60 days before retaking the exam if you have already failed it twice. Remember that each attempt of the exam has a fee, so be sure that you study well before your first attempt.
Kaplan Financial Education Property And Casualty Insurance Classes Review
Kaplans family of educational and exam prep packages are a standout within many different fields of study, and their Property & Casualty course catalog is yet another instance of their impressive track record. There are many different types of students with different budget levels and learning styles hence, Kaplans platform and study materials adapt to these different students and their needs.
While the specific details of your package may differ depending on your state of enrollment, you can expect to be able to choose between 4 different package bundles. Essentially, the biggest differences between these boil down to how you prefer to study and receive lecture content: self study vs. live online prep.
Kaplan also has separate study materials on offer in digital or physical format, such as a property and casualty License Exam Manual and a State Law Supplement book which also includes a multiple-choice review at the end of the text. Theyve even developed a library of online study tools to help keep you on track throughout the process.
Kaplan continues to help you feel secure as you prepare for your licensing exam by providing you with important milestones. Checkpoint Exams test you on key concepts in a manner that is similar to the real thing. Lastly, there are Certification Exams which must be passed in order to take the state exam, these are included with all state packages.
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Who Gives The Texas Insurance License Exam
Since insurance is regulated by state law, it is the Texas Department of Insurance, or TDI, who decides who administers the insurance licensing exam in Texas. Did you know, in some states the insurance exam is actually given by the Department of Insurance itself? Well, not in Texas. In Texas, the TDI has secured Pearson VUE, which is an IT service management company that has secured many state insurance license exam contracts throughout the nation. Pearson VUE also administers licensing exams for many other professions in Texas.
It is Pearson VUE that comes up with the exam questions you will encounter on your property and casualty insurance licensing exam. Essentially, Pearson VUE administers the entire insurance license exam process for Texas, on behalf of the TDI.
Study Early Study Smart
The best and most obvious method to pass the exam is, as you might have guessed, to study. However, dont try to tackle everything in one go.
Passing the state exam might take you around 35-40 hours of studying on average, so its best not to rush it. Instead, try to spread out those hours into several days or even weeks, so you dont get too overwhelmed.
You could also try and plan out what you need to study. Setting a date for studying a topic can help you absorb information better.
For instance, you could start studying general insurance knowledge licensing terms, or NY state casualty and property insurance basics during the first week.
This way, you will have a basic understanding of commonly used terms found throughout your studies and the exam. Also, you dont have to refer to your notes as often when studying.
Once youve set up your study calendar, you must commit to it. Otherwise, you will have to cram a few days before the exam.
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