Paul Sanchez
To become an insurance agent in Wyoming, you must obtain a Wyoming insurance license. This involves a few key steps: determining the type of insurance policies you want to sell and the relevant license(s) needed, completing a pre-licensing education course (optional but recommended), passing the state licensing exam, and applying for your license. The process also includes choosing a means of selling, such as working for a company or running your own business, and developing a marketing approach to succeed as an insurance agent in the state. Wyoming offers license reciprocity with other states, allowing licensed producers in their home states to apply for a license in Wyoming without taking the exam or pre-licensing course.
| Characteristics | Values |
|---|---|
| First Step | Decide the type of insurance policies you want to sell |
| Wyoming Insurance License | Required |
| Pre-licensing education hours | Not required by the state of Wyoming |
| Pre-licensing education courses | Optional but recommended |
| Exam | Required |
| Exam format | Multiple choice |
| Exam sections | General and state-specific |
| Exam pass score | 70% or higher |
| Exam attempts | Two online attempts, subsequent attempts to be taken in-person at a Pearson VUE testing center |
| Exam fee | Payable by credit or debit card, voucher, or electronic check |
| Application | To be submitted through Sircon |
| Background check | Required |
| Continuing education | 24 hours every two years, including 3 hours on ethics |
| Renewal fee | $100 |
| Continuing education filing fee | $30 |
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What You'll Learn
Choosing a license type
To become an insurance agent in Wyoming, you need to obtain a Wyoming insurance license. The type of insurance license you need depends on the type of insurance policies you want to sell.
The Wyoming Department of Insurance requires each person selling insurance in the state to hold an insurance producer license. You can choose which line of authority you want to be licensed in: health insurance, life insurance, property and casualty insurance, or any combination of those lines.
- Property & Casualty License: This license covers both property and casualty insurance. You can choose to take separate Property and Casualty exams, which consist of 85 questions each, or a combined exam, which consists of 100 questions.
- Property-Only or Casualty-Only License: You can opt to obtain a license for only property or casualty insurance if you wish to specialize in one of these areas.
- Life and Health Insurance License: This license qualifies you to explain, sell, and write life and health insurance products in Wyoming.
- Personal Lines License: This license is for selling insurance products designed to protect individuals from financial issues resulting from damage or injury in Wyoming.
It's worth noting that you can pursue multiple licenses to increase your customer base and income. Many agents choose to obtain both the Property & Casualty license and the Life and Health Insurance license to offer a wider range of products to their clients.
After determining the type of license you need, you can begin preparing for the Wyoming insurance exams. Each license type has its own exam, and you will need to take one exam for each combined line of insurance you wish to carry. These exams are administered by Pearson VUE, and you can schedule your exam through their website or by calling them. The exams are multiple-choice and cover both general insurance product knowledge and specific insurance laws, rules, and regulations unique to Wyoming.
Once you've passed your exams, you can submit your license application. You have one year from passing the exam to apply for your license. You will also need to submit a fingerprint background check as part of the application process.
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Pre-licensing education
To become an insurance agent in Wyoming, you must pass a state licensing exam. This exam tests your knowledge of industry concepts, insurance policies and products, and state laws. As such, it is highly recommended that you take a pre-licensing education course to prepare for the exam, despite this not being a requirement in Wyoming.
Kaplan offers exam prep courses that cover the content of the Wyoming licensing exams, giving you the best chance of passing. Over 81% of readers use Kaplan’s online courses, which come with a 93% pass rate. Other options include All-Lines Training Wyoming Insurance Exam Prep Course and AD Banker. A good prelicensing training course will feature practice exams that simulate the format of the state exams, so you know what to expect.
You will need to choose which line of authority you want to be licensed in: health insurance, life insurance, property and casualty insurance, or any combination of those lines. The Property and Casualty lines are combined into one exam, as are the Life and Accident, Health, Sickness, and Disability lines. You can also choose to take the Property and Casualty exams separately, with 85 questions each, or a combined exam made up of 100 questions. You can sit for more than one exam at a time, but this is not recommended due to the added risk of confusion.
All licensing exams are taken on a computer and are multiple-choice. You need to score 70% or higher to pass. You will receive a pass or fail notification immediately after your exam. Exams must be scheduled at least 24 hours in advance, and you are allowed to cancel or reschedule up to 48 hours before your reservation time. You can schedule your exam through Pearson VUE.
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Taking the exam
To become an insurance agent in Wyoming, you must pass a state licensing exam. The exam covers industry concepts, insurance policies and products, and state laws. It is highly recommended that you take a prelicensing course to prepare for the exam. While the state of Wyoming does not require prelicensing education, the exam is difficult, and a good training course will feature practice exams that simulate the format of the state exams.
Kaplan offers exam prep courses that cover the Wyoming licensing exams, giving you the best chance to pass on your first try. Over 81% of candidates preparing for their insurance license exams use Kaplan’s online courses, which come with a 93% pass rate. AD Banker also offers a Wyoming Insurance Exam Prep Course.
All insurance exams are taken on a computer and are multiple-choice. Depending on which line of insurance you are testing on, the amount of time and number of questions on the exam vary. For example, the Property and Casualty exam consists of 85 questions each, while the combined Property and Casualty exam is made up of 100 questions. To pass, you need to score 70% or higher. Immediately after your exam, you will receive a pass or fail notification.
You can schedule your state exam through Pearson VUE or by calling (866) 936-7786. Exams must be scheduled at least 24 hours in advance, and you are allowed to cancel or reschedule up to 48 hours before your reservation time. You will need to pay an exam fee when scheduling your exam. On the day of the exam, bring a credit or debit card, voucher, or electronic check as payment methods.
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Applying for the license
To become an insurance agent in Wyoming, you need to obtain a Wyoming insurance license. Here is a step-by-step guide on how to apply for the license:
Step 1: Decide on the Type of Insurance Policies
The first step is to decide on the type of insurance policies you want to sell. This is important because the type of insurance policies you plan to sell will determine the type of license you need. For example, if you want to sell health insurance, you will need a different license than someone who wants to sell property and casualty insurance.
Step 2: Complete a Pre-licensing Education Course (Optional)
Wyoming does not require aspiring insurance agents to complete a certain number of pre-licensing education hours before taking their licensing exam. However, due to the difficulty of the exams, it is highly recommended to enrol in a study course. These courses can help you prepare for the state exam and increase your chances of passing.
Step 3: Take and Pass the Licensing Exam
After completing any pre-licensing education, the next step is to take and pass the licensing exam. The exam will test your knowledge of industry concepts, insurance policies, and products, as well as state-specific laws and regulations. All insurance licensing exams are taken on a computer and are multiple-choice. You will need to score 70% or higher to pass.
Step 4: Submit Your License Application
Once you have passed the exam, you can submit your license application. In Wyoming, you can do this through Sircon. You have one year from passing the exam to apply for your license. As part of the application process, you will also need to submit a fingerprint background check.
Step 5: Maintain Your License
To maintain your license, resident insurance producers in Wyoming are required to complete 24 hours of continuing education every two years, including 3 hours on ethics. You can renew your license online through the National Insurance Producer Registry (NIPR), and there is a fee of $100 for renewal.
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Post-license steps
Once you have passed your exams and your licensing application has been approved, there are several steps you should take:
- Obtain any relevant securities licenses: If you plan on selling advanced life insurance products, you must pass the Securities Industry Essentials (SIE) exam and obtain the relevant securities licenses (e.g., Series 6, 7, and 63).
- Choose your means of selling: You can decide to work as a captive agent for a single company or run your own business as an independent agent.
- Develop a marketing approach: To succeed as an insurance agent, you need to adopt a marketing strategy that works for you. For example, finding and sticking to a niche and organizing all client appointments for the start of the week.
- Maintain your license: To maintain your license in Wyoming, you must complete 24 hours of continuing education every two years, including 3 hours on ethics. You can carry forward any credits earned above the required 24 hours to the next renewal term. However, these credits must be completed within 120 days of the license expiration date. You can renew your license online through the National Insurance Producer Registry (NIPR) or with the help of AgentSync. There is a fee of $100 to renew your license, plus an additional continuing education filing fee of $30.
- Apply for a reciprocal license in another state: If you wish to sell insurance in another state, you can apply for a reciprocal license as long as you hold a license in your home state and the license you are applying for covers the same lines of authority.
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Frequently asked questions
First, you must obtain a Wyoming insurance license. This involves deciding on the type of insurance policies you want to sell, which dictates the type of license you need. Then, you must complete a pre-licensing education course and pass the state licensing exam. After passing the exam, you must apply for your license by contacting the Wyoming Insurance Department.
The exam will cover both a general section with basic insurance product knowledge and a state-specific section with Wyoming's insurance laws, rules, regulations, and practices. It is a multiple-choice exam, and you need to score 70% or higher to pass.
To renew your license, you must pay a fee of $100 and an additional continuing education filing fee of $30. You will also need to complete 24 hours of continuing education every two years, with three of those hours covering ethics.
