So, you’ve decided to embark on a career in the field of insurance. Great! This is surely a rewarding, interesting, and exciting career choice. And while the journey to insurance sales or brokering is not the hardest one, you will have to complete some insurance licensing exams. No one likes exams, right? Fear not, as in this guide, we will help you by telling you everything you need to do to prepare yourself for your insurance exam. From studying to schedule, we will cover every aspect of the exam, what to expect, and how to make sure you are completely ready to take these tests.
What Exams Do I Need To Take?
Depending on where in the United States you live, there are different requirements and exams needed to qualify as an insurance professional. There are multiple categories of insurance work, and passing an exam for each is required if you wish to work in that particular field. In general, the categories are life & health insurance or property & casualty insurance. In some states, each of these is separated, so you could end up needing to take four separate exams.
However, in other states, they are combined into joint exams meaning to work in all four fields, you would only need to take and pass two exams. Again, varying by state, the prices can range from around $100 up to $400 per exam, so you definitely need to be prepared before taking the exam to ensure you pass the first time and waste zero money!
How Is The Exam Structured?
You may be wondering how the exam is structured and how hard it is. When you take the insurance exams, wherever in the country you are, there are many similarities. Firstly, the exams are always structured in a multiple-choice format. This means that each question will come with a range of answers to choose from, and you simply need to select the correct one. Secondly, all exams are proctored. A proctored exam means simply that there is an independent adjudicator in the room to watch over proceedings.
This person is there to ensure no cheating happens and to make sure there isn’t any communication between candidates. This makes sure the exams are fair across the board, so you know that wherever you take the exam, everyone is under the same conditions. The final thing to know is that the exams will be timed. You will have between 30 and 90 minutes on average to complete the exam, depending on the number of questions.
Available Courses
All across the States, there are independent course providers who provide specialist training in insurance. Most of these courses are short and range from around 4-12 weeks, and can be studied in your own time at home or in a classroom. Many providers offer a range of courses to suit different types of students and different budgets. A basic course may simply provide you with all the study material for download or in book format, whereas a top-tier course could involve interactive learning, one to one support, and practice exams.
Most are very flexible regarding how much study time you are able to set aside per week. We strongly recommend signing up for one of these courses to give yourself the best chance of feeling totally ready for your exam.
Revision Techniques
If you are not on a course that provides practice exams, there are some free and cheap resources out there that could help you. Many sites offer mock exams for a small fee. There are also plenty of forums online where people share their experiences with the exams and their studies. Revision cards are a classic technique used by many of us when studying.
We recommend writing a question on one side of the card and the best answer on the back. Shuffle the deck, and start asking yourself questions. Keep shuffling, keep asking, and know that the answers are sinking in!
Dealing with Yourself
One last thing to consider is exam anxiety. Many of us feel stress and pressure when it comes to exams, and you may feel extra pressure here as a future job is on the line. Use our study tips above to make yourself more confident, and learn to relax and unwind when it is needed. You must remember to look after yourself as well. Eat, drink, and sleep properly. This way, your brain will be functioning at full capacity and help you to feel the extra confidence needed for an exam.
So, there you have it – everything you need to know about the insurance exam. If you feel unprepared, then take a course and get revising. Remember to look after yourself, relax, and the only book yourself the test when you feel completely ready. Good luck with your exam and in your new career.