Anyone wishing to obtain a North Carolina Life Insurance license or Health (Accident and Health or Sickness) Insurance license must successfully complete the appropriate course. Successfully completing the course involves going through all 20 hours of the material and passing the final exam with at least a 70% score.
How to Pass the Property and Casualty Exam
- Start Studying Early/Set a Study Calendar. The average insurance exam-taker should expect to spend about 35 to 40 hours studying to pass the Property and Casualty exam.
- Focus on the State Exam Outline.
- Remove Distractions.
- Utilize Practice Exams.
- Take an Exam Prep Course.
Additionally, what score do you need to pass the life insurance exam? There are 4 basic exams given in most states – Life, Health, Property, and Casualty. In some states, the exams are combined (Property & Casualty). Some states have a Personal Lines exam for agents selling only homeowner or auto insurance. In most states, you need a score of 70-75 to pass each exam.
Furthermore, how hard is it to pass the insurance exam?
Pass Rates and Recommended Study Time Nevertheless, the passing score for all exams is 70%, and utilizing exam study tools can help you gauge whether or not you are on target to pass on the first try. The average exam-taker should expect to spend about 35 to 40 hours studying to pass the life and health insurance exam.
Can you retake life insurance exam?
A life insurance exam can be taken again, under certain circumstances and subject to approval by the insurer, but there are several considerations. Without taking another medical exam, the rate at which the policy is issued won’t change for policies with fixed premiums.
How much does insurance license cost?
Insurance License Fees & Schedule of Fees & Charges Effective March 3, 2019 License Type Filing Fees Life Agent – Life-Only Agent (LO), Accident and Health Agent (AH) $188 Life & Disability Insurance Analyst (LA) $622 Life-Limited to the Payment of Funeral and Burial Expenses $188 Life-Only Agent(LO) $188
How many questions are on the NC life insurance exam?
How long is the final exam? The final exam contains 150 multiple choice questions. There is a timer set to 150 minutes (2 ½ hours), and you must complete the exam within that time frame or you will be locked out of the course.
How long is the state insurance exam?
The format of insurance exams is a timed, proctored, multiple choice test, consisting of around 50-180 questions. The actual length of each exam will depend on the state you are testing in, and the license for which you are applying.
How long does it take to become insurance agent?
How long does it take to become an insurance agent? While taking two or four years to earn a college degree can enhance one’s job prospects, in many cases, one can become an insurance agent after completing only a pre-licensing course, which can take several days.
How long does it take to get your insurance license in NC?
How to Get a North Carolina Insurance License. Pass a state-approved pre-licensing course. Completing the 20-hour course in the relevant field and passing the final exam with a score of at least 70% provides a Certificate of Completion, also called an Exam Admission Ticket.
How much does it cost to get your insurance license in North Carolina?
License Application The fee for an online application is $50 per line, plus a $44 application fee, the $38 fingerprint fee, and a $6 NIPR fee for a total cost of $138. Fill out your online application on the NIPR North Carolina page.
How do I become a life insurance agent in NC?
How to Get a North Carolina Insurance License Complete a Prelicensing Course. If you would like to sell insurance in North Carolina, you must complete an approved line of prelicensing education and pass the state licensing exam. Apply for Your License. Pass a Licensing Exam. Get Fingerprinted. Print Your License.
How do you get a life insurance license?
Look Up Requirements for Your State: Each state sets its own qualifying standards. Pass the State Exam: You must take your state’s examination for this license and achieve a passing score. Get Fingerprinted: Most states require licensed agents to be fingerprinted and to undergo a background check.
Is the state insurance exam hard?
Preparing for the Test Though it may seem somewhat overwhelming at first, preparing for and taking the state health and life insurance exam is NOT that difficult. In fact, most agents who take the exam admit that it was easier than they imagined.
Can you make money selling insurance?
According to the Bureau of Labor Statistics, the median pay for an “insurance sales agent” is $49,990 per year or $24.03 per hour as of the latest data from 2016. If you look at the median pay for a Personal Financial Advisor, who may sell life insurance, the number is twice as high, $90,530 per year $43.53 per hour.
What happens if you fail a life insurance test?
What Happens If You Fail a Life Insurance Medical Exam. If the information you submitted on the original application does not match the data collected during your medical exam, then you may be denied coverage, or you may receive a request for additional testing.
How much does an insurance agent make?
According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually. The lowest paid 10% of insurance agents earned less than $26,120 annually.
How much commission do State Farm agents make?
Typical commissions for everyday personal lines (homeowners, auto) are 8%-15%, paid to the agent who has the agency – NOT to the producer.
How do you successfully sell insurance?
Here are some essential tips for success as an insurance broker or insurance agent: Focus On Good Salesmanship. Develop a Strong Work Ethic. Study the Market. Keep Up with the Times. Learn From the Pros. Balance Work and Personal Time.