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Training for Insurance Professionals

Property and Casualty Insurance Exam

Insurance agents who sell property and casualty insurance must be licensed to do so. No random person off the street can just start offering property and casualty insurance without first obtaining the license. Property and casualty insurance is a very large branch and there are many variables in the insurance across the board as well. Regardless of the company you may be associated with, all agents are required to obtain licensing that fits within the state’s parameters and requirements.

What Does the Property and Casualty Insurance Exam Cover?

Property and casualty insurance falls under a rather large umbrella. It covers the expanse of insurance for homes, auto, and even business policies as well. This means there is a broad expanse of knowledge to obtain for the exam as well. The purpose behind property and casualty insurance is to provide policies to protect an individual’s or a business’s assets as well as to potentially protect them from things like lawsuits or other liabilities related to the property. In some states, licensure for property and casualty insurance is required even of the customer service reps that simply discuss policies and options with you. In other states, just the agent is required to be insured. Here is a comprehensive list of the types of coverage that fall into property and casualty. ● Auto insurance (personal and commercial) ● Homeowner’s insurance ● Renter’s insurance ● Condo insurance ● Landlord’s insurance ● Commercial property insurance ● Commercial general liability coverage ● Worker’s compensation insurance ● Professional liability coverage ● Inland Marine insurance ● Power sports (motorcycles, boats, etc.) insurance Of each of these, there are of course a variety of policy options as well.

Steps to Licensure

Obviously, you will need to pass the property and casualty insurance exam to be licensed but what exactly is the process?

Study and Coursework

You can do a self-study process to help you prepare for the exam or you can take a prelicensing course for the exam. You can also do a combination of both. Whatever you choose, be sure you have a reliable resource for your materials. You will need to plan to devote somewhere around 40 hours to study time before you take the exam, outside of any courses that you decide to take. (These hours vary by state)

Pass the Required Exam

The exam that you take will be specific to your state. The required passing score may also vary by state but it will be a minimum of 70% and in some states is as high as 80% so you will want to achieve at least these scores on your practice exams as well. (some state requirements may vary) Be sure you know and understand the requirements of your testing site. When taking the exam, read each question carefully and each answer as well before selecting an answer. You can typically mark a question for review and return to it later if you are stumped.

Following the Exam

Once you have passed your property and casualty insurance exam, you will need to obtain the licensing necessary. To do so, you will probably go through some sort of registration process with the firm or company you are working with. Then you may apply for your license within the state. From there, you will simply need to complete the required continuing education requirements to be sure your license doesn’t lapse. Note: You must renew your license as well as pay fees in some states

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