Insurance education is required for applicants who wish to become agents. They must pass tests that show their knowledge is sufficient to help their clients. Each state has its own exam. It is a complicated industry, with many rules and regulations. Knowledge of all facets of it is essential to provide a valuable service to clients.
The industry was created to protect people from extreme financial losses. It is designed to get them back to the same financial position they were in before the accident. If a policy has a high deductible, it is less expensive than one that has a much lower deductible.
Developed to help people recover from financially damaging accidents, the insurance industry acts by pooling policy payments. When some of its members suffer financial losses due to accidents, money is taken from the pool. Companies may stop selling certain types of insurance, for example flood insurance, if the losses in an area are too high. There are very strict regulations concerning this.
The only people who are legally authorized to sell insurance policies are licensed agents. Each type of policy that is available requires that the agent is tested and licensed to sell it. Any kind of policy, like for life and property policies, requires a test. The names of the tests are referred to by number, for example, Series 6 or Series 63.
Financial advisers who are involved in the stock market and other investment tools must take the Series 7 test. It is a very difficult examination that covers all aspects of the industry. Those who will be taking the test often study for six months or more to pass it. There are courses available to help them to prepare for it.
Obtaining a license is only the first step. It is an ongoing process to keep the license in effect. Each state has specific requirements for continuing education so that the agents continually update their knowledge. Most of the courses are self-study and many can be completed online.
The educational requirements that most companies look for in their prospective agents is, at minimum, a bachelor's degree. When completing the courses to get your degree, a concentration in business is very helpful. Coursework in public speaking is also very helpful, since you will be interacting with customers on a daily basis.
Serve your clients better by taking advantage of all of the insurance education available. It is not only for passing tests. It is for ensuring you know as much as possible about the industry so you can provide exemplary service. While similar in content, each area has its own rules for educational requirements.
The industry was created to protect people from extreme financial losses. It is designed to get them back to the same financial position they were in before the accident. If a policy has a high deductible, it is less expensive than one that has a much lower deductible.
Developed to help people recover from financially damaging accidents, the insurance industry acts by pooling policy payments. When some of its members suffer financial losses due to accidents, money is taken from the pool. Companies may stop selling certain types of insurance, for example flood insurance, if the losses in an area are too high. There are very strict regulations concerning this.
The only people who are legally authorized to sell insurance policies are licensed agents. Each type of policy that is available requires that the agent is tested and licensed to sell it. Any kind of policy, like for life and property policies, requires a test. The names of the tests are referred to by number, for example, Series 6 or Series 63.
Financial advisers who are involved in the stock market and other investment tools must take the Series 7 test. It is a very difficult examination that covers all aspects of the industry. Those who will be taking the test often study for six months or more to pass it. There are courses available to help them to prepare for it.
Obtaining a license is only the first step. It is an ongoing process to keep the license in effect. Each state has specific requirements for continuing education so that the agents continually update their knowledge. Most of the courses are self-study and many can be completed online.
The educational requirements that most companies look for in their prospective agents is, at minimum, a bachelor's degree. When completing the courses to get your degree, a concentration in business is very helpful. Coursework in public speaking is also very helpful, since you will be interacting with customers on a daily basis.
Serve your clients better by taking advantage of all of the insurance education available. It is not only for passing tests. It is for ensuring you know as much as possible about the industry so you can provide exemplary service. While similar in content, each area has its own rules for educational requirements.
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