Strategies To Ace The Life And Health Insurance Exam

Passing the life and health insurance exam is a requirement for anyone wanting to sell insurance in a particular state. While the exam structure and content topics are generally the same across states, the number of questions, time limit, and exam format can vary. The overarching topics covered in the exam include life insurance, health insurance, and their respective subtopics. To pass the exam, candidates are advised to set a study calendar, concentrate on the state exam outline, utilize practice exams, take an exam prep course, and familiarize themselves with the exam process.

Study over a few weeks, not the night before

To successfully pass your life and health insurance exam, it is crucial to develop a structured study plan and allocate an adequate amount of time for preparation. Cramming the night before the exam is rarely productive and can lead to unnecessary stress and knowledge retention issues. Here's a strategy to guide your studies over the next few weeks:

Begin by creating a realistic study schedule that fits your daily routine. Aim for consistency and dedicate a specific time slot each day exclusively for exam preparation. Breaking down the overall content into manageable portions will make it easier to tackle. Focus on understanding the core concepts first and then delve into the details.

Start with the basics and ensure you have a solid foundation. Familiarize yourself with the fundamental principles and terminology used in life and health insurance. Understand the different types of insurance products, their unique features, and their benefits to potential customers. This foundational knowledge will provide a framework to build upon in the coming weeks.

Each week, target a specific domain within the life and health insurance field. For instance, you could dedicate one week to an in-depth study of federal regulations and how they impact insurance policies. Another week could be spent understanding the intricate process of policy underwriting and the various factors that come into play during risk assessment. By focusing on distinct topics each week, you can develop a comprehensive understanding without feeling overwhelmed.

As you progress through your studies, maintain a balanced approach. Avoid spending excessive time on a single subject, as this may hinder your ability to cover all the relevant topics. Instead, strive for a steady and consistent pace that allows for gradual progress. Regularly assess your comprehension by setting aside time for self-quizzing and reviewing practice questions. This will help identify areas where you may need to focus more attention.

During these weeks of preparation, it is essential to maintain focus and minimize distractions. Create a study environment that promotes concentration and minimizes external distractions. Inform those around you of your study schedule to ensure you have uninterrupted time dedicated to learning. Additionally, consider the benefits of joining or forming a study group, as group discussions can provide diverse perspectives and reinforce your understanding.

By following this structured and disciplined approach, you'll find yourself well-prepared, confident, and ready to tackle the exam as the date approaches. Remember, effective learning takes time and dedication, so stay committed to your study plan and avoid the temptation to cram the night before.

Understand the exam structure and topics

The life and health insurance exam is state-specific, so the exam structure and topics will vary depending on the state. However, some topics are generally tested in most states. These include:

• Life insurance general knowledge
• Life insurance policies
• Policy riders and options in life insurance coverage
• Life insurance tax issues
• Annuity policy tax issues
• Health insurance general knowledge
• Dental, individual, and group policies
• Special needs individual insurance
• Health Maintenance Organizations (HMOs)
• Health insurance tax issues

Some states' tests contain 150 questions, while others only have 50. The time limit for the exam also varies between states, ranging from 1.5 hours to 2.5 hours. Therefore, it is important to check the specific details for your state.

The passing score for all exams is 70%. While the passing score remains the same across all states, each state considers the difficulty of the test's questions and accounts for differences in the version by equating and scaling raw scores. This means that if one version of the exam is deemed more difficult than another, fewer correct answers will be required to demonstrate the same level of knowledge.

Take practice exams

Practice makes perfect, and this is especially true when it comes to passing the life and health insurance exam. Here are some tips and strategies for making the most of your practice exam experience:

Remove Limitations

Take your first practice exam with no time constraints and keep your notes and study guide close by. Focus on applying the strategies you've learned and take your time. This will help you feel more comfortable with the exam format and types of questions.

Time Yourself

For your second practice exam, set a timer and practice pacing yourself to finish within the time limit. This will help you become familiar with the time constraints of the actual exam and manage your time effectively.

Simulate Test Day

Treat your subsequent practice exams as if they were the real thing. Set a timer, put away your study materials, and sit at a table or desk in a quiet room. Imagine yourself at the testing centre and answer the questions as quickly and accurately as possible. This will help you get used to the exam environment and reduce pre-test jitters.

Keep Practicing

Consistency is key. Keep taking practice exams regularly until you've either run out of practice tests or it's time for the actual exam. This will help your mind become accustomed to the schedule and stress of test day, allowing you to focus on recalling the material you've learned.

Analyze Your Performance

Pay special attention to the questions you got wrong, the ones you had to guess on, and the ones you found challenging. Identify your weak areas and devote more study time to improving your understanding of those topics. Dig deeper and figure out why each of these questions gave you trouble. Was it due to a lack of understanding of the material, difficulty with the vocabulary, or a need for more practice to build speed and confidence? Address these issues head-on and strengthen your weak areas as you review the material.

Understand the Bigger Picture

Remember that practice exams are just that—practice. Memorising the questions and answers won't be very helpful, as the actual exam is unlikely to have the exact same questions. Instead, focus on comprehending the underlying concepts and topics. Study until you have a thorough understanding, and you'll be able to confidently tackle any question that comes your way on exam day.

Take a prelicensing course

Taking a prelicensing course is a great way to prepare for your life and health insurance exam. While it is not a requirement in all states, it is highly recommended to help you make sense of the material and stay on track with your study calendar.

There are a variety of course options available, ranging from traditional live classes to online courses or printed books for self-study. Some providers, such as Kaplan, offer packages that include traditional classes, online resources, and printed materials to cater to different learning styles. These courses will cover the material tested in your state and help you master the knowledge you need to pass the exam.

When choosing a prelicensing course, it is important to select one that covers the specific material tested in your state, as the exam content can vary. The course should also fit your learning style and other commitments. For example, if you prefer interactive learning, a live online or in-person classroom might be a good choice. On the other hand, if you prefer self-directed study, you can opt for printed materials or online resources that you can work through at your own pace.

The length of prelicensing courses can vary, typically ranging from 20 to 40 hours. It is recommended to space out the modules to allow time to master the material and take practice tests. You should also plan to take the exam within a week after completing the course to keep the information fresh in your mind.

In addition to the course content, prelicensing course providers often offer additional resources to support your preparation. For instance, Kaplan provides the License Exam Manual (LEM), State Law Supplement, a QBank with hundreds of practice questions, and access to an expert instructor. These resources can further enhance your understanding of the material and improve your test-taking skills.

By enrolling in a prelicensing course, you will not only gain knowledge about the insurance industry but also learn test-taking strategies and receive guidance on how to structure your preparation. This comprehensive approach will increase your chances of passing the life and health insurance exam on your first attempt.

Know the exam process

Knowing what to expect on exam day is crucial to your performance. The testing center can be a little intimidating, so it's good to have an idea of what will happen so you aren't caught off guard. Here's what you need to know about the exam process for the life and health insurance exam:

Exam Day Procedures

On the day of your exam, you will be required to put all of your belongings in a locker before being assigned to a testing cubicle. An employee will explain the expected conduct and rules to you. It is important to follow their directions carefully as they are very alert for any signs of cheating.

Identification Requirements

You will need to present a government-issued photo ID, and you may also be required to show your test confirmation to ensure you are taking the exam on the correct day, time, and location. If there were pre-test requirements, you may also need to provide proof of completion.

Prohibited Items

Generally, no electronic devices (such as cell phones, tablets, or watches) are allowed in the testing room and will need to be stored in a secure area. Certain articles of clothing may also be prohibited, so it is best not to bring anything of value to the testing center.

Exam Format

The contents of the exam vary depending on the state, including the number of questions, the time limit, the topics covered, and the overall format. Some states' exams contain 150 questions, while others have only 50. Timing also varies, with some states allowing 2.5 hours and others 1.5 hours. Check the details for your specific state to ensure you are fully prepared.

Passing Score

The passing score for all exams is 70%. However, this does not mean that you need to answer 70 questions correctly or get 70% of the questions right. The raw scores are scaled to account for the difficulty of the exam, so earning a passing score means you have met the minimum required knowledge.

Results

After completing the exam, you will receive a PASS or FAIL designation immediately. If you fail, you will also receive a numeric score to help guide your future studies.

Frequently asked questions