Preparing and studying for your life insurance exam can be overwhelming. However, with the right strategies, you can improve your study technique and increase your chances of passing. Here are ten tips to help you prepare for your life insurance exam.
1. Create a Study Schedule
Having a structured study plan is crucial. For instance, you can allocate specific times dedicated solely to exam preparation each day or week. Break down the course you are studying into manageable bits and set realistic goals that work into your daily routine. This strategy helps you cover all topics systematically and prevents last-minute cramming from procrastination. For example, if your life pre-license course has 11 chapters, such as the course from XCEL Solutions (www.xcelsolutions.com), you can study one chapter per day and finish in 11 days.
In short, a realistic study plan will help increase your chances of passing the exam.
2. Understand the Exam Format
You want to make sure you familiarize yourself with the structure of the exam. Every state’s life insurance exam outline is different, so look up the one specific to your state. You can simply google “(your state) life insurance pre-license exam content outline” to find the document that has the exam outline.
Furthermore, go down each item on the outline and test yourself on the terms or concepts. The tests are all multiple-choice questions and combine traditional multiple-choice, fill in the blank multiple choice, and scenario-based multiple-choice questions. In conclusion, studying the exam outline will help you prepare for the exam as best as possible.
3. Use Quality Study Materials
We highly recommend you invest in reputable study guides and textbooks. We believe that our course does exceptionally well at helping people study for their life insurance exam, but there are plenty of other incredible companies out there. Materials from recognized pre-license education providers such as Kaplan, ExamFX, and WebCE are often comprehensive and aligned with the exam content outline. Ensure your resources are up-to-date with the latest industry standards and regulations. If you would like to see options for the study materials we offer, please click HERE. Study your state’s life insurance exam outline!
4. Practice with Sample Questions
Taking practice tests is one of the most effective ways to prepare, and the course you take to study should include many practice exams. Above all, they can help you gauge your understanding, identify weak areas to improve on, and become familiar with the question format/verbiage. For example, you can also use ChatGPT to generate questions for you on the topics you want to test your knowledge on. Simply ask it something like “Please generate me 10 multiple choice questions on Annuities to help test my knowledge on the topic for a pre-license exam I am taking soon.”
5. Join a Study Group
Study groups can provide support, motivation, and a platform to discuss difficult concepts. Explaining topics to others and hearing their perspectives can reinforce your knowledge and clarify doubts. Sometimes other people will be able to put the content into a frame of reference that is easier to understand.
Perhaps the person who introduced you to a career in the insurance industry can suggest a study group for you. We have a study group available, simply email us at support@yourinsurancelicense.com to get more info.
Studying with peers can go a long way in your exam preparation…
6. Focus on Key Concepts
Identify and focus on the topics that are most important to your state’s life insurance exam outline. These often include policy types, insurance rules and regulations, underwriting processes, and ethics. Concentrate on understanding these areas as they form the backbone of the exam content, and consequently are what you want to spend most of your time on. In some states, over 30% of the questions are on the state-specific laws, and in other states, that may only be 4% of the content, so it’s important to know what your state wants.
7. Utilize Online Resources
Utilize online platforms that offer video tutorials, flashcards, and practice quizzes. Websites like Quizlet and YouTube, for example, provide valuable resources that adjust to different learning styles. A great YouTube channel to study for the life insurance exam is @lifeinsuranceexamprep .
8. Review Regularly
Daily revision of the major study topics is key to retaining the information. Periodically review your notes and summaries to reinforce your memory. We recommend briefly reviewing what you studied that day every night, for example. This helps with the retention of important concepts.
9. Stay Healthy
Maintaining a healthy lifestyle can greatly impact the effectiveness of your studying. Ensure you get adequate sleep, eat healthy meals, and exercise on a regular basis. A healthy body supports a sharp mind, making your study sessions more productive. Also, it’s important to get a full night of sleep to make sure that your brain can store the information.
Getting adequate sleep and a balanced diet will help you retain more information!
10. Seek Professional Help if Needed
If certain topics are particularly challenging, consider seeking help from a tutor or enrolling in another pre-license course. We offer weekly live webinar study sessions to help our licensed course students, so you can always inquire about attending those. Professional tutoring can provide structured learning and personalized assistance to address the specific parts of the material you are struggling with.
Preparing for Your Life Insurance Exam
Preparing for your life insurance exam requires a lot of discipline and a strategic approach. The tips above can help you create an effective study plan and utilize helpful resources, consequently improving your chances of passing. The major key to all of this is being consistent with your exam preparation.
In conclusion, by focusing on these practical tips, you’ll be well on your way to passing your life insurance exam on the first try. Good luck!
