Study Guide. for the Life Insurance Exam. License Exam Manual. InsurancePro QBank. (State) Life & Health State Law Supplement

Transcription

1 Study Guide for the Life Insurance Exam This resource guide provides you with both a study calendar and information on which sections of the materials you will need to study in preparing for your Life Insurance exam. The sections pertinent to the Life exam are as follows: License Exam Manual Unit 1 Introduction to Insurance Unit 2 Insurance Regulation Unit 3 Insurance Law Unit 4 Underwriting Basics Unit 5 Group Insurance Unit 6 Selling Life Insurance Unit 7 Policy Issuance and Delivery Unit 8 Types of Life Insurance Policies Unit 9 Policy Provisions Unit 10 Riders Unit 11 Policy Options Unit 12 Annuities Unit 13 Group Life Insurance Unit 14 Social Security and Tax Considerations Unit 15 Retirement Plans InsurancePro QBank Introduction to Insurance Insurance Regulation Insurance Law Underwriting Basics Group Insurance Selling Life Insurance Policy Issuance and Delivery Types of Life Insurance Policies Life Policy Provisions Riders Policy Options Annuities Group Life Insurance Social Security and Tax Considerations Retirement Plans (State) Life, Accident, and Health Insurance Law (State) Life & Health State Law Supplement The sections of the Life & Health Insurance State Law Supplement for your state that are pertinent to Life Insurance. This will include the sections on: (State) Statutes, Rules, and Regulations Common to Life, Accident, and Health Insurance (State) Statutes, Rules, and Regulations Pertinent to Life Insurance Only Next >>

2 OnDemand Video Library Introduction to Insurance Part 1 Introduction to Insurance Part 2 Insurance Law Selling Life Insurance Life or Health Insurance Policy Underwriting, Application, Issuance and Delivery Term Insurance Whole Life Insurance Universal Life Variable Life Life Insurance Policy Provisions Life Insurance Policy Riders Life Insurance Policy Options Annuities Group Life Insurance Social Security Tax Considerations Qualified Retirement Plans Note: The PowerPoint slides used in the video are provided for you as PDF downloads. These PDFs can be accessed by clicking on the View / Open link, which is located on the OnDemand Video Library web page. Audio MP3s Introduction and Introduction to Insurance Insurance Regulation Insurance Law Underwriting Basics Group Insurance Selling Life Insurance Life Insurance Policy Issuance and Delivery Types of Life Insurance Policies Life Insurance Policy Provisions Life Insurance Policy Riders Life Insurance Policy Options Annuities Group Life Insurance Social Security and Tax Considerations

3 Life Only Insurance Exam Study Guide Days to complete this program: Minimum 3 Maximum: 26 Important Information Check the Updates/Addendums and Corrections sections on your online access page regularly throughout your study to ensure you have the most current information about the exam you re studying for. Guide Details Session 1 Most sessions last about 1-1 ½ hours, except for those sessions involving final practice exams. To help you stay on track, be sure to check off each box when you complete each session. The Video and Audio assignments refer to tools available in the Premium and Essential Packages. Unit reading assignments refer to the License Exam Manual and/or Online Course. If applicable, schedule your insurance licensing class. Make sure you are aware of any pre-study hours your state may require prior to attending the class. If applicable to your state, review your State Syllabus and Cross Reference to make sure you are studying the applicable material for your exam. Familiarize yourself with the License Exam Manual and review the Glossary Terms towards the back of the manual. View the Instructional Demos located in the right-hand column of your Online Access Home page to learn how to utilize the various online study materials. Session 2 Read Unit 1 Introduction to Insurance, and do the Unit Test. Listen to the Introduction and Introduction to Insurance sections of the Audio MP3. Watch the online library videos: Introduction to Insurance Part 1 and Introduction to Insurance Part 2. Create 10- to 20-question review quiz(zes) for Unit 1 Introduction to Insurance in the QBank and review your results. Session 3 Session 4 Session 5 Read Unit 2 Insurance Regulation, and do the Unit Test. Listen to the Insurance Regulation section of the Audio MP3. Create 10- to 20-question review quiz(zes) for Unit 2 Insurance Regulation in the QBank and review your results. Read Unit 3 Insurance Law, and do the Unit Test. Listen to the Insurance Law section of the Audio MP3. Watch the online library video on Insurance Law. Create 10- to 20-question review quiz(zes) for Unit 3 Insurance Law in the QBank and review your results. Read Unit 4 Underwriting Basics, and do the Unit Test. Listen to the Underwriting Basics section of the Audio MP3. Create 10- to 20-question review quiz(zes) for Unit 4 Underwriting Basics in the QBank and review your results. Session 6 Session 7 Read Unit 5 Group Insurance, and do the Unit Test. Listen to the Group Insurance section of the Audio MP3. Create 10- to 20-question review quiz(zes) for Unit 5 Group Insurance in the QBank and review your results. Read Unit 6 Selling Life Insurance, and do the Unit Test. Listen to the Selling Life Insurance sections of the Audio MP3. Watch the online library video on Selling Life Insurance. Create 10- to 20-question review quiz(zes) for Unit 6 Selling Life Insurance in the QBank and review your results.

4 Session 8 Session 9 Read Unit 7 Policy Issuance and Delivery, and do the Unit Test. Listen to the Life Insurance Policy Issuance and Delivery section of the Audio MP3. Watch the online library video on Life or Health Insurance Policy Underwriting, Application, Issuance and Delivery. Create 10- to 20-question review quiz(zes) for Unit 7 Policy Issuance and Delivery in the QBank and review your results. Read Unit 8 Types of Life Insurance Policies, and do the Unit Test. Listen to the Types of Life Insurance Policies section of the Audio MP3. Session 10 Watch the online library videos on Term Insurance, Whole Life Insurance, and Universal Life. Session 11 Session 12 Session 13 Session 14 Session 15 Session 16 Session 17 Session 18 Session 19 Watch the online library video on Variable Life. Create 10- to 20-question review quiz(zes) for Unit 8 Types of Life Insurance Policies in the QBank and review your results. Read Unit 9 Policy Provisions, and do the Unit Test. Listen to the Life Insurance Policy Provisions section of the Audio MP3. Watch the online library video on Life Insurance Policy Provisions. Create 10- to 20-question review quiz(zes) for Unit 9 Life Policy Provisions in the QBank and review your results. Read Unit 10 Riders, and do the Unit Test. Listen to the Life Insurance Policy Riders section of the Audio MP3. Watch the online library video on Life Insurance Policy Riders. Create 10- to 20-question review quiz(zes) for Unit 10 Riders in the QBank and review your results. Read Unit 11 Policy Options, and do the Unit Test. Listen to the Life Insurance Policy Options section of the Audio MP3. Watch the online library video on Life Insurance Policy Options. Create 10- to 20-question review quiz(zes) for Unit 11 Policy Options in the QBank and review your results. Read Unit 12 Annuities, and do the Unit Test. Listen to the Annuities section of the Audio MP3. Watch the online library video on Annuities. Create 10- to 20-question review quiz(zes) for Unit 12 Annuities in the QBank and review your results. Read Unit 13 Group Life Insurance, and do the Unit Test. Listen to the Group Life Insurance section of the Audio MP3. Watch the online library video on Group Life Insurance. Create 10- to 20-question review quiz(zes) for Unit 13 Group Life Insurance in the QBank and review your results. Read Unit 14 Social Security and Tax Considerations, and do the Unit Test. Listen to the Social Security and Tax Considerations section of the Audio MP3. Watch the online library video on Social Security and Tax Considerations. Create 10- to 20-question review quiz(zes) for Unit 14 Social Security and Tax Considerations in the QBank and review your results.

5 Session 20 Practice Exam Details Session 21 Read Unit 15 Retirement Plans, and do the Unit Test. Listen to the Retirement Plans section of the Audio MP3. Watch the online library video on Qualified Retirement Plans. Create 10- to 20-question review quiz(zes) for Unit 15 Retirement Plans in the QBank and review your results. The following sessions involve review quizzes and practice exams. If you d like to calculate your percentage score manually, when taking each quiz or exam, make note of the health questions that did not apply to your life exam. Then calculate your percentage in the following way: Calculate Life Only Practice Exam Percentage Score Manually Make note of the health questions that did not apply to your life exam and calculate your percentage score manually by following this example: A 60-question exam included 10 questions that pertained only to health insurance. 60 minus 10 = 50 questions pertinent to life. Of those 50 questions, you answered 48 correctly. 48 divided by 50 = 96%. You scored 96% on your State Law Unit exam. Read the sections of the Life & Health Insurance State Law Supplement for your state that are pertinent to life insurance. This will include the sections on statutes, rules, regulations, definitions, etc.: 1) common/pertinent to multiple lines of insurance, and 2) pertinent to life insurance only. Review and understand the Days, Dates, Dollars, and Duties of the Commissioner. This is extremely important for passing the state exam! Session 22 Do your Life & Health Insurance State Law Supplement Practice Final. Skip over any questions that pertain only to health insurance. Review your results and then review those topics that caused you problems. Session 23 Create 20- to 30-question review quizzes for your state s laws in the QBank and review your results. Skip over any questions that pertain only to health insurance. Session 24 Session 25 Session 26 Create a review final exam in the QBank using the Simulate State Insurance Exam option and review your results. Skip over any questions that pertain only to health insurance. Identify any weak areas that you found in taking the review final exam. Spend additional study time focusing on those areas. As a means of evaluating your preparedness to take the state exam, take Mastery Exam A and review your results. If you determine that additional study is necessary, identify and review the areas you struggled in again, and then take an additional practice final exam(s) by choosing the option below that is most applicable to your situation: Purchasing and taking Mastery Exam B Creating another exam using the Simulate State Insurance Exam option Creating your own practice final in the QBank If you find that additional study is still needed, repeat the process of reviewing the areas you are struggling with and taking practice exams until you feel confident in your exam preparations. If confident in your preparation, take the state exam. (Note: If your state has pre-licensing education requirements, you will need to first complete and pass the Certification Exam included with your course to receive your Certificate of Completion. The Certification Exam can be accessed by either clicking on the My Exams link in the left-hand navigation column of your Online Access Home page or the applicable link located at the bottom of your Course Home page. If your state requires that a proctor monitor your Certification Exam, you will also need to make sure you meet all proctor requirements.) << Previous MRKT-17461