How To Study For The Life And Health Insurance Exam
Many states require test-takers to complete an authorized pre-licensing education course. Even if it is not a required part of your insurance license process, a pre-licensing education course is the best way to prepare for the life and health insurance exam.
For pre-licensing education courses, StateRequirement recommends:Kaplan Education Company
Pre-license education requirements are typically around 20 hours for the life insurance exam, 20 hours for the health insurance exam, and 40 hours for a combined exam, but can vary depending on your state.
You can choose between an in-person course, workbook, self-guided online course, or facilitated online course. Consider your other commitments and style of learning to determine the best fit for you.
Exam & Licensing Procedures: Study Materials
Utah has no pre-licensing requirements for licensure. As such, the Department does not offer any study materials or aids for the exams.
Because of the number and the diversity of approach of these publications, neither the Department nor Prometric reviews or approves study materials. However, the following sources may be a starting point in your search for study materials.
What Type Of Skills Do I Need
Since insurance agents determine the needs of their clients, excellent analytical skills are a big plus. Insurance agents regularly talk with clients, youll need to be a very skilled communicator. You need to be self-confident and be willing to take the initiative since youll be seeking out new clients.
Check out Mometrix’s Life & Health Study Guide
Get practice questions, video tutorials, and detailed study lessons
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Rules And Regulations For Life Insurance Test Questions
This could be an excellent moment to receive the licensing you need if you want to offer life or health insurance.
You can obtain this license by passing your states Life and Health Insurance test.
According to the Bureau of Labor Statistics, those who pass have a good chance of finding work.
Excellent analytical skills are a huge asset because insurance agents determine their clients needs.
Because insurance agents interact with consumers on a frequent basis, youll need to be an excellent communicator.
Because youll be looking for new clients, youll need to be self-assured and eager to take the initiative.
In general, youll be required to supply background information, such as work history, as well as personal information, such as a photo ID.
Other criteria, such as a background and fingerprint check, are imposed by some states.
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Life And Health Insurance Exam Study Tips
There is a lot of information covered in the life and health insurance licensing exam. It helps to break down your efforts into manageable chunks, with practice questions interspersed throughout your studying. A pre-licensing education course will do this for you by providing study modules online or through a workbook.
What If I Didnt Pass My Insurance Exam
If you didnt pass this time, you now have a much better idea of what you are facing. In most states, the testing facility will give you a print out of which sections of the test you fared well on, and which you struggled with. Use this to your advantage.
Dont beat yourself up over it. Like we said earlier, only about 55% of first-time participants pass the exam. Its a tough test, and you shouldnt feel any shame.
Now that you know what youre up against, you can go back to your studies with a renewed vigor and zeal. Be sure to study hard on the parts of the test that you were less successful with.
If you were close to passing, go ahead and schedule another sitting within a week or two.
You know what you have to work on, so be sure you can explain the topics to a six-year-old, and go out and crush it the next time!
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Life And Health Insurance Regulations
This sample lesson from our Insurance License Exam Manual will help you:
- Understand the role of the Insurance Commissioner in insurance regulation
- Describe the role of company ratings and how such information may be used with prospects
- Explain the role of state guaranty associations
- Identify the requirements for maintaining a producer license
Tools To Help You Pass
There are multiple online pre-licensing educational courses that you can take for a fee to help prepare you for this exam. Some states require you to take them before you schedule an exambut even if your state doesnt require one of these courses, we strongly recommend you try one. They offer comprehensive reading- and quiz-based materials that take you through the essential exam topics.
To help you pass your life insurance test, check out some of the following courses:
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Ken Wants To Get A Life Insurance Policy As Soon As Possible But He Also Wants The Flexibility To Shop About And Switch Plans If He Discovers One That He Likes Better What Benefit Will Ken Receive From This Provision
ANSWER: Free look
A free-look clause allows a policyholder to buy life insurance with the option of shopping around and switching policies if better coverage is found.
Following the actual delivery of the policy, these policies often give a ten to thirty-day review period.
During the review time, the insured can conduct additional research into different policies to choose whether they want to keep their present policy or return it for a full refund of their premiums.
When the policyholder receives the real physical delivery and pays the premium, the free look review time begins.
Before the free look time can begin, the insured must sign a delivery receipt that is dated, signed, and witnessed by the agent.
Coverage is in effect as long as the premium is paid and the policy is delivered.
What Is On The Insurance License Exam
Each states exams will vary depending on their specific rules and regulations. The Life and Health test will obviously have different material than the Property and Casualty test, and since the laws in Florida are different than those in New York, this material will also differ.
For your states exam outlines, visit the Choose Your State page, and follow the directions from there.
As you can see, these tests contain many questions about specific law applications and policies.
What it does not cover, however, is what it will take to make you a good salesperson, agent, or producer. This information will be of great use to you when you want to stay in compliance with the law, but it wont tell you that bundling your home and auto will give you a 12% discount.
We may joke about this information being dry, and not everyday knowledge, but there is a lot of fraud surrounding insurance, and having this information all under your belt will help you be a better agent for your clients, and may even keep you out of legal hot water.
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How To Pass The Life And Health Insurance Exam
Once you have completed your pre-licensing education course, its time to take the life and health insurance exam. Depending on your state, you may be able to take them in one combined exam or have to register for two separate tests. Your pre-licensing course will go over which exams you can register to take.
Passing all insurance exams is all about preparation. Most states allow a period of around 90 days to take the exam after you complete your course.
The sooner you register for and take the exam, the more fresh the information will be in your mind. Do not wait the full 90 days unless you have scheduling conflicts that prevent an earlier test date.
Ready To Start A Promising New Career
After you pass the life insurance test, in most states, youre ready to begin your career. That means youll have a whole new set of things to learn, including how to grow your business by generating leads.
For more resources on how to improve your skills and get the best out of your newly-minted life insurance license, check out more of the EverQuote Pro blog.
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What Is The Format Of The Insurance Exam
The format of insurance exams is a timed, proctored, multiple-choice test, consisting of around 50-180 questions. The actual length of each exam will depend on the state you are testing in, and the license for which you are applying.
So what exactly is a proctored exam?
In the simplest terms, proctored means someone is present while the candidate is taking the assessment. Proctored tests can be administered on a computer or using paper and pencil. Depending on the type of test, the proctor may or may not have to be certified. Proctored assessments are the optimal administration format. You know for certain that the responses were given without input from other people or the use of supplemental tools . You can also control the environment and eliminate the risk of distraction.
Most states use third-party testing companies, such as Pearson Vue or Prometric to administer their exams. This means that you will be taking the test in a standardized testing facility on a computer that is provided with a person watching over you.
For some, this may cause some anxiety, which we will cover later in this article.
The exam is a multiple-choice test, generally with four options available as answers. This means that if you arent sure about a question, you still have a chance of getting the answer correct.
There will not be an essay section to your insurance license exam, as the laws that your test is based upon are not open to interpretation or opinion.
How To Apply For The Property & Casualty Insurance License Exam
The application process for the Property & Casualty License Exam is different for each state. Typically, applicants have the option to fill out the application online or mail it in. To find out how to apply for the Property & Casualty Insurance Exam, contact that states insurance board. For example, if you are seeking licensure in Texas, you can contact the Texas Department of Insurance. If you do not know the name of the state board, it may be helpful to search the states name with titles like Office of Insurance or Department of Insurance. For example, Californias state insurance board is called California Insurance Code and Department of Insurance. Candidates are also encouraged to stay up-to-date with renewal fees and requirements, if applicable.
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An insurance firm issues a certificate of insurance to prove that insurance coverage is in place.
The coverage provisions are also included in the paper, which includes the kind of insurance, coverage terms, the effective date of coverage, and any limitations or exclusions.
The COI could be used to demonstrate that a specific medical practice is covered.
An insurer may request an independent medical examination to verify claims made by an insureds personal doctor.
Before the IME, the IME doctor had not treated the insured.
Its a second thought.
The qualities of a health maintenance organization and a preferred provider organization are combined in a point of service plan .
In a Point-of-Service plan, members who receive health services from plan providers are typically reimbursed 90-100 percent of the cost, compared to roughly 70% for non-plan providers.
The insured is responsible for the difference between the cost and the reimbursement amount.
A POS is a sort of managed care that provides lower medical costs in exchange for a limited provider selection.
Property And Casualty Insurance Exam
The property and casualty exam is broken up into two parts, General Knowledge and State Specific.
The general knowledge portion will test your understanding of different policy types and the guidelines that surround them. Things like:
- Types of Policies
- Commissions and Compensation
The state-specific portion is generally more dry information . Things like dates, names of laws, and dollar amounts will be a part of this portion.
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What Is On The Life And Health Insurance License Exam
The information covered in the life and health insurance exam varies by state. Taking a licensing exam is often the first major milestone on the journey to become an insurance agent. A life and health insurance license is one of the most popular, given the demand for specialists in this type of insurance.
Testable areas of all insurance exams include the benefits of insurance, how to work with clients, and state and federal regulations. There are also specific policies, provisions, and regulations that pertain to individual lines of insurance that are tested on the life or health insurance exam.
- Legal and tax implications of health insurance premiums, benefits, and withdrawals
Each state also includes questions about regulations that licensed insurance agents must follow. These often include laws related to insurance contracts, definitions of terms, the regulatory authority in the state , general regulations, licensing requirements, and continuing education.
How Much Does The Insurance License Exam Cost
The price of the insurance exams depends on the state that you are applying in.
The range of exam prices is anywhere from $40 to $150, averaging around $70 per attempt.
Taking multiple attempts at the exams is possible, but can get rather expensive. We at StateRequirement highly recommend that you take your studying and test prep seriously and do everything you can to pass the exam on your first try.
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How To Pass The Insurance Exam
: Ethan Peyton
If youre getting ready to take a state insurance exam or any exam for that matter, its good to know what youre getting yourself into.
Here at StateRequirement, we want you to be able to walk into the testing center with confidence that you will leave being one step closer to getting your insurance license.
In this article, you will learn everything that you will need to know to face your exams without fear . Weve scoured through tons of resources to find the information you need on how to pass an insurance exam .
So sit back and keep your reading glasses handy. Were sure to get in the weeds with this guide. Go ahead and bookmark this page so you can easily find it the next time you need it.
Before beginning, know that the best tool to use when studying for an insurance exam is a pre-license education course from a reputable insurance education company.
For pre-license education products and courses, StateRequirement recommends:Kaplan Education Company
What Kind Of Income Does Someone Insured Have If He Or She Is Unable To Work
Unearned income, such as interest payments or investment income, is income that persists even if a person is unable to work.
Unearned income may be used to calculate how many disability payments a person is eligible for.
An adhesion contract is one offered by an insurance firm on a take it or leave it basis, though the word is not confined to the insurance business.
The insured has the option of accepting or rejecting the contract. However, any ambiguities in the contract are construed against the drafter of the contract and in favor of the insured, which means that the insured will be given the respect deserved if there is any question about what a policy term is supposed to entail.
As a result of this hypothesis, insurance companies are encouraged to make policy terms as plain as feasible.
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Scheduling Your Insurance Exams
In most states, you will need to schedule a date and time to attempt your exam. This scheduling will either be done over the phone or on the website of whichever entity is in charge of testing for your state.
Third-party testing companies, like Pearson Vue and Prometric, handle most states, but some states use either different third-party companies or manage their own testing in-house.
There are several states that do not allow same-day scheduling for testing. This means that you will need to plan ahead for the date that you will be attempting the test. This also means that if you dont pass the exam, you cant take the test again that day. Sometimes even the next day.
We think the same-day scheduling rule is a good one, as it gives you a true opportunity to reflect on your studies if you dont pass on the first attempt.
StateRequirement recommends that you schedule your exam two to three weeks in advance after you get your study materials or start your pre-license course. This will allow you enough time to properly study and prepare for the exam without having too much time to psych yourself out.
Test-taking is a mental game, and you should do everything that you can to put yourself in the right headspace.
One other element that we suggest is that you only study and schedule for one exam at a time.
These tests are not just blow-off exams and can be very data-intensive. It is easy to misremember facts like: you have 30 days for one type of policy, and 35 for another.