Anyone who wants to work in the life and health insurance field will need to pass the insurance exams first. There are many types of insurance that agents can sell, but for health and life insurance, there is important knowledge that you will need in order to carry out your profession and stay within industry guidelines.
Life insurance exam rates vary from state to state, but if you want a career in the health and life insurance you need to pass these exams in order to be able to work.
Different states focus on different formats for their exams. The differences in the exams center around the set up of the test and the format of the questions. The time you have to take the exam and the cost of the exam differ from state to state as well. There are also different regulations that apply to each state, so you will need to familiarize yourself with these depending on which state you plan to work in.
Not all states release exam pass rates, but on average it is about 70%. If you want to pass the exam you can study practice papers, and familiarize yourself with the structure of the questions. Obviously, you need to study what you have learnt, but if you look over past papers, you will have more idea of what to expect in the real thing.
In some companies, managers report their frustration that around half of the candidates that take the exam end up failing. He took the test himself again to test it out and reported that it was impossible to second guess the questions. They were posed in such a way that you need to really have a deep knowledge of the intricacies of each component of the subject in order to pass the exam.
It’s obviously possible to take the exam multiple times. If you can learn from where you failed, you focus on the areas that you fell short on the first time.
There are specific exams for each state but there are general topics that are covered in all the exams. These include
- General life insurance knowledge
- Policies
- Tax issues in life insurance
- Policy provisions
- Life insurance and annuity plans
- Tax implications with health insurance
- Insurance for special needs customers
- Dental policies
- General information on health insurance
Plus many more. Each state has a standard paper that you can research in advance of the test, and find out what areas will need more study as they have more questions on the paper.
It is necessary to do plenty of revision in order to achieve the exam pass rate. Around 40 hours of study is recommended over a period of time. There are also study courses that can help you prepare for the exam. The test is taken on a computer so giving yourself a chance to practice the test in the environment you will be taking it in may help.
Some states have a higher exam pass rate than others. Whether this is because the questions or easier or the students more intelligent, is impossible to say. California recorded high pass rates in 2015, as did Georgia. In Florida and Texas over a one month period, the exam pass rate was just below 50%.
On the paper there are 150 questions and you need to pass 105 in order to achieve an exam pass rate. In Florida, you only need to pass 80 questions out of 100 to gain an exam pass rate. You have two and a half hours to complete the exam and there are three parts to the exam. There is an incomplete sentence section, where you finish the sentence that has been started, there is a multiple-choice section and also a direct question.
Once you have taken the exam, you will receive your results straight away as the exam is computerized. The Life and Health exam results give you a detailed breakdown of your scores, and this will help if you did not pass, as you immediately know which areas to put more study into.
It can be very disheartening if you do not make the exam pass rate. You have worked hard and thought you had the necessary knowledge to succeed.
However, you just need to have a good foundation in knowledge and skills in life and health insurance and it is possible to focus on weaker areas and gain an exam pass rate the next time.
If you really want to become a Life and Health insurance agent, this setback in your dream will be a great disappointment. There are plenty of resources online to help you achieve an exam pass rate next time. Use your time to study and take practice papers. Use the internet to gain all the tips and advice you can on how to achieve an exam pass rate. There are books available that give an insight into the best way to approach the exam.
So, to summarize, each American state has a different exam, and some have different exam pass rates. You need to revise the relevant information for your state and study hard. This includes reading all course material that you have been given, doing practice papers on a computer, and if possible attending a course that is focused on helping you pass. You will then give yourself the best possible chance of passing the exam.
