In the United States, insurance professionals have to meet strict testing and licensing requirements. Since the fast-changing insurance industry has such a big impact on consumer finances and safety, federal and state administrators want to make sure that anyone who sells insurance, or who acts as an agent or advisor, has the knowledge and ethical standards to do their job right. That’s where insurance exams come in.
Property and Casualty Insurance Study Guide Explore our free Property and Casualty Insurance review provided by Mometrix. Check out our premium Property and Casualty Insurance study guide to take your studying to the next level. May 20, 2016 - The property and casualty insurance license is state-run. People can apply for a resident agent license or a non-resident agent license.
Insurance exams make sure that insurance professionals have the current knowledge needed to help customers make the right decisions about insurance. There are over in the United States, according to the National Association of Insurance Commissioners (NAICS). Before they could sell insurance, these professionals had to pass an exam to get licensed, and they had to meet all of the other state requirements.
Property And Casualty Insurance Study Guide Oklahoma
Do I Need to Take the Exam? If you want to sell insurance or act as an adjuster, advisor, or insurance agent, you will need to get licensed in your state. To obtain your license, you will need to take an insurance exam covering the type of insurance you will be selling. The different types of exams include: Property and Casualty Insurance The exact type of exam you take and the licensing you apply for will depend on your career goals. For example, if you are the in the property and casualty insurance business, you have two options.
You can seek a non-resident agent license or resident agent license in your state. In many cases, a resident agent license in your state is adequate. However, if you want to handle insurance claims, you may need a non-resident agent license.
As an adjuster, for example, you may be handling claims that cross state lines. To take the exam needed to get a resident or non-resident property and casualty insurance license, you must:. Be at least 18 years of age when you apply.
Have six months or more of insurance-related job experience. Have completed a classroom course (at least 200 hours). You must also meet other state requirements. Some states, for example, require you submit your fingerprints as part of the application process.
Other states may have different requirements. The cornerstone of the license application process is the exam. Once you pass the exam, you will be a licensed casualty and property insurance professional. Unless you are certified as a Certified Property and Casualty Underwriter (CPCU), and you have been working in the property and casualty insurance field for four years or more, you will not be exempt, and you will have to take the exam.
Life and Health Insurance The requirements for health and life insurance licenses vary by state. To pass the exam and get licensed, however, you will generally need:. To take a class related to your insurance area (at least 36 hours). Be at least 18 years of age. Get at least a 70% on your insurance exam. Pay the required licensing and testing fees. If you do not pass your exam on the first try, you can pay the necessary fees and try again.
Where You Live Can Affect Your Insurance Exam States have their own insurance exams. While there are some similarities, state requirements and tests do vary. You can contact the Department of Banking and Insurance in your state to apply to take the insurance exam and get state-specific information about licensing requirements. The National Association of Insurance Commissioners (NAICS) also has a to help you find out about licensing bodies and requirements in your state. What You Can Expect From Your Insurance Exam The exam for property and casualty insurance licensing professionals is computer-based. All of the questions you answer will be multiple-choice.
Property And Casualty Insurance Quiz
There are two sections of the exam, each covering one insurance area.