Life Insurance License Test: Challenging But Manageable

The life insurance license test is not easy, but with the right preparation, it can be passed on the first try. The exam covers a lot of information, and the level of difficulty will depend on your current knowledge, previous work experience, and how well you prepare. It is important to create a good study plan and choose the right insurance licensing class to help you prepare for the test. The average exam-taker should expect to spend about 35 to 40 hours studying and should space out their learning over a few weeks to ensure the information is retained.

How much time to dedicate to studying

The amount of time you should dedicate to studying for the life insurance license test depends on several factors, including your current knowledge, previous work experience, and learning style. On average, you should expect to spend around 35 to 40 hours studying over the course of a few weeks. Some sources recommend a minimum of 40 hours of study time. It is important to space out your study modules, allowing time to master the material and take practice tests.

To make the most of your study time, create a dedicated study schedule that fits your life and work commitments. Stick to this schedule and try to minimise distractions such as your phone, TV, or the internet. You may find it helpful to set aside specific blocks of time each day, or a few days a week, to focus solely on studying. For example, you could dedicate an hour each morning, during your lunch break, or in the evening to studying.

In addition to the amount of time spent studying, the quality of your preparation is crucial. Choose a reputable test preparation company that offers comprehensive study packages and practice exams. Utilise their online resources, such as OnDemand videos and interactive learning platforms, to enhance your understanding of the material.

Remember, the key to success is consistent and focused preparation. By dedicating sufficient time to studying and making use of effective study strategies, you will be well on your way to passing the life insurance license test.

Recommended study courses

The best insurance pre-licensing course for you will help you prepare to pass the insurance exam on your first attempt. Whether you are looking for an all-inclusive insurance pre-licensing education program or the essentials for test prep, there is a course that will fit your needs.

Kaplan Education Company is a highly-rated insurance licensing class that comes with a 93% pass rate. For comprehensive study packages, StateRequirement recommends Kaplan.

ExamFX is another great option, with a 93% overall insurance exam pass rate. They offer OnDemand Videos and online learning through their interactive learning platform that are designed for all learning preferences. They also offer a custom Virtual Study Calendar to help you create an individual study plan that fits your schedule.

The InsuranceExamQueen on YouTube is another resource that has helped many people pass their insurance exam. Her course costs around $100 for the gold package and includes videos that explain everything piece by piece.

XcelSolutions is another exam simulator that has been recommended by those who have passed their insurance exam.

Finally, Kaplan Financial Education is a good option for those seeking to pass the Life and Health Insurance Exam. They offer study options to suit all learning styles and provide a free eBook called "Launching Your Insurance Career with Confidence".

How to create a study plan

The life insurance license test is considered challenging, but with a good study plan, it is possible to pass on the first try. Here are some tips to help you create an effective study plan:

Understand the Exam Format and Requirements:

Start by researching the specific requirements and format of the life insurance license exam in your state. Each state has its own exam, so understanding the unique aspects of your state's test is crucial. Find out the topics covered, the number of questions, the time limit, and the passing score. Knowing these details will help you tailor your study plan accordingly.

Set a Realistic Study Schedule:

Consider your daily commitments and create a realistic study schedule that you can stick to. Aim for consistency by blocking off dedicated study time each day, even if it's just for an hour. Spread out your study sessions over a few weeks to give your brain time to absorb the information effectively. Avoid cramming and give yourself ample time to prepare.

Choose the Right Study Resources:

Select reputable study resources that align with your learning style. You can opt for online courses, self-study materials, or a combination of both. Many test prep companies offer comprehensive study packages that cover the material tested in your state. Compare different options and choose the one that best fits your needs and preferences.

Focus on High-Weight Topics:

Once you have a clear understanding of the exam outline and the topics covered, prioritize your study time accordingly. Allocate more time to sections with a higher number of questions or greater weightage. This strategic approach will help you maximize your exam preparation and ensure you cover the most critical areas.

Practice with Mock Exams:

Utilize practice exams and mock tests to reinforce your understanding of the material. Treat these practice exams like the real thing by mimicking testing conditions. This will help you become familiar with the exam format, improve your pacing, and identify areas that require further review. Regular practice exams will also help you build confidence as you approach the actual test.

Eliminate Distractions:

When studying, create an environment that minimizes distractions. Turn off your phone, stay away from social media, and find a quiet study space. Maintaining focus is crucial, so do your best to avoid multitasking. If necessary, inform those around you about your study schedule to minimize interruptions.

Review and Revise:

Regularly review your study materials to reinforce your understanding. Go over your notes, highlight important concepts, and create study aids such as flashcards. Revision is essential to retaining the information and identifying areas that need further clarification. Don't hesitate to reach out to instructors or fellow students for clarification on complex topics.

Take Care of Yourself:

Lastly, remember to take care of your well-being during your preparation. Get enough sleep, eat healthily, and engage in relaxing activities to stay energized and focused. Taking short breaks and incorporating low-stimulation activities into your routine can help you stay motivated and refreshed.

Creating a study plan for the life insurance license exam involves dedication, discipline, and a good understanding of the exam requirements. By following these tips and tailoring them to your needs, you can develop a comprehensive study plan that sets you up for success.

What topics are covered in the exam

The life insurance license exam can be challenging, but with good preparation, you can pass on your first try. The exam covers a lot of information, and the specific content will depend on the state you're in, but there are some common topics that are usually tested. Here are the topics you can expect to find on the exam:

Life Insurance:

• General knowledge of life insurance
• Life insurance policies
• Policy riders and options in life insurance coverage
• Tax issues related to life insurance and annuity policies

Health Insurance:

• General knowledge of health insurance
• Dental, individual, and group policies
• Special needs individual insurance
• Health Maintenance Organizations (HMOs)
• Tax issues related to health insurance

State-Specific Regulations:

In addition to the topics mentioned above, the exam will also cover state-specific regulations and requirements related to insurance. These may include information about the types of insurance, how to develop and recommend plans to clients, and applicable state laws and rules.

Other Insurance Concepts:

The exam may also test your knowledge on other insurance concepts, such as policy provisions, options, and exclusions, as well as the process of completing applications, underwriting, and delivering policies.

It is important to note that the weightage of each topic may vary, and some states provide a State Exam Outline that details the number of questions from each section. Focusing your studies on the sections with more exam questions can be a strategic approach to preparing for the test.

Overall, the life insurance license exam covers a broad range of topics, and understanding these topics and practising exam-style questions are key to your success.

What to do if you fail

Failing an exam can be disheartening, but it is important to remember that it is not the end of the road. If you fail the life insurance license test, there are several steps you can take to improve your chances of success on your next attempt. Here are some suggestions:

• Review the exam content outline: Each state has its own exam content outline, which details the topics covered on the exam and their relative weightings. Make sure you thoroughly understand this outline and focus your studies on the areas with the highest weightings.
• Create a study plan: Develop a structured study plan that works for you. Some people prefer to study for a few weeks, while others opt for cramming the week before the exam. Whichever approach you choose, ensure you stick to your plan and cover all the relevant material.
• Utilise practice exams: Take advantage of practice exams to familiarise yourself with the exam format and identify areas that require further review. Practice exams can also help you manage your time effectively during the actual exam.
• Seek additional resources: If you feel that your current study materials are not sufficient, consider enrolling in a pre-licensing course or purchasing additional study guides and practice tests. Online platforms such as ExamFX and Kaplan Financial offer comprehensive exam preparation resources.
• Address your weaknesses: Analyse your previous exam results to identify the areas where you struggled the most. Focus your studies on these topics to improve your understanding and increase your chances of passing.
• Maintain persistence: Failing an exam can be discouraging, but it is important to maintain a positive mindset and persevere. Remember that everyone's journey is different, and it is normal to encounter setbacks. Learn from your mistakes, stay motivated, and don't be afraid to ask for help if needed.

Remember, the key to passing the life insurance license test is preparation. By reviewing the exam content, creating a structured study plan, and utilising available resources, you can improve your chances of success on your next attempt. Don't give up, and you'll be one step closer to achieving your career goals in the life insurance industry.

Frequently asked questions