You can also schedule your exam over the phone at 855-579-4639. Your exam may be taken at a physical PSI examination center or via a remote online proctored exam.
How do I become a licensed insurance agent in Michigan?
How to Get Your Michigan Insurance License
- Complete an Insurance Prelicensing Course. …
- Pass Your Michigan Licensing Exam. …
- Apply for a Michigan Insurance License. …
- Plan to Complete Required Insurance Continuing Education (CE) Credits.
Is the Michigan insurance exam hard?
Insurance license tests are intentionally difficult, but not impossible by any means. You should study to the point of comfortability with the information before you attempt the test. Failing the exam isn’t the end of the world, but keep in mind that you will need to pay the fee each time you attempt the test.
How do I pass the Michigan property and casualty insurance exam?
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.
How many times can you take the life insurance exam?
You can take the exam three times in one year.
How much is an insurance license in Michigan?
There is a $10 application/license fee is $10.00, and an additional $5.00 transaction fee. Your application will be valid for 6 months from entry into the database.
What do insurance agents make a year?
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 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.
Is the claims adjuster exam hard?
How hard is the adjuster license exam? The license exam is difficult to pass, even for seasoned adjusters, because of its diversity. Questions span insurance codes, laws, principles, homeowners coverage, commercial policies, ocean marine coverage, surety (bonds) and more.
Is insurance hard to learn?
Compared to most finance careers, becoming a life insurance agent is easy. No educational requirements exist beyond a high school diploma at most. Some states require you to take a licensing course and pass an exam, but truthfully, these are as easy as a fifth-grade spelling test.
Is life and health easier than property and casualty?
Each insurance licensing exam presents its own challenge. Between Life and Health, students say that the Health insurance exam is the more difficult. Health insurance policies are simply more complicated than life insurance policies. The Property insurance exam is easier than the Casualty insurance exam.
How many times can you take the property and casualty exam in Michigan?
Yes, you may request additional time beyond the 180-minute time-limit for the Michigan state licensing exam. There is an additional fee of $50 per exam attempt. To obtain additional time, you must submit a Michigan Exam Accommodations Request form prior to your exam date.
How many questions is the property and casualty exam?
Examinations: Time Limit and Number of Questions
|Examination Type||Time Allowed||Number of Questions|
|Life & Disability Analyst||3.5 hours||125|
|Property Broker-Agent and Casualty Broker-Agent||3 hours||150|
|Property Broker-Agent||1.5 hours||75|
|Casualty Broker-Agent||1.5 hours||75|
What happens if you fail life insurance exam?
Per Section 1681.5(b) of the California Insurance Code, willfully cheating or subverting a license examination is punishable by a fine not to exceed $10,000 or imprisonment not to exceed one year.
What percentage of people pass the insurance exam?
Life and Health Insurance Exam Pass Rate
ExamFX’s overall insurance exam pass rate is 93%.
Can you fail a life insurance exam?
It is possible to fail a life insurance medical exam.
Most likely: Insurers may find out or believe that you have a life-threatening condition. If the discovery makes it likely you’ll die during the policy term, it doesn’t make financial sense for them to insure you. You may get denied for life insurance.