I am often asked what's the best way to study for an insurance exam. While it's important to know how to properly prepare for a state licensing examination, it's just as (if not maybe more so) important to know what not to do when getting ready to test. What follows are five reasons why people fail, not listed in any particular order. When you read the list that follows, you'll likely think that nothing discussed applies to you. In fact, I'll wager that at least one of them applies and likely more. Please read on for more information!
The reason most people fail the exam is not due to stupidity or lack of formal education. The reason the people that fail can be attributed to one or more concrete reasons, the most common of which are the lack of formal guidance on how to properly prepare (which is a task shared by the educator and student) and effort on the part of the student. There is a great difference in the way you learn as a young person compared to an adult. There is much evidence that shows that once you hit about age 25, the brain processes and synthesizes information in a much different manner. You cannot do the things you did when you were younger, even though you would like to think that you can (this does not apply if you're under 25).
So take some time and read through what follows; see if you can identify any of the issues shown that may apply to you and do your best to overcome it. If you need help- ask.
Failure on the test is commonly caused by the these errors:
1. Not spending enough time studying the material. On average, it takes the typical student 2-3 times the state required minimum study hours. That means, in most states 100+ hours on average; not the 40 or 50 the state mandates. We find that for many, the amount of hours spent working on the material lends itself to success. Alas, there's the pressure of management to get their new recruits licensed that typically accompanies this path. That's understandable as management is responsible for overall productivity, but also puts more pressure on the recruit to perhaps rush into a test that they're not prepared for.
- The Solution? Spend more time studying. Pretty simple. (Note to managers- try and give your recruits some time to study. The test is a lot harder now)
2. Not reading the question properly! C'mon, admit it. It's okay...you can say it. How many times have you read a test question and answered incorrectly just because you misread the question and/or answers? Yup, that's what I thought. This happens to just about everyone and some it happens to more than others. This is a sure-fire way to lose points. I can almost guarantee you that if you fail by a question or three- you've failed because you misread something.
- The Solution? SLOW DOWN! You've got plenty of time on the test. Don't go 35 in the 55 lane, if ya get my drift, but you don't have to rush. How can you slow down? Lip read the question. It sounds and feels kind of foreign, but I promise it helps.
3. Failure to remember that the practice questions are not the state's questions. When educational providers provide insurance exam practice tests, the questions given are not normally the questions a student will see on their state test. We do not get the state test questions. That would make it too simple; you'd just have to memorize a test question bank through a drill process and that would be that.
- The Solution? There is no "solution" to this issue, just remember that memorizing the practice test questions as the path to test success doesn't work. Use the practice modes to enhance your knowledge, not to be the main focus of your study. Practice tests are primarily used for terminology and definition purposes which is a critical part of your study process, but do NOT use only the practice tests and quizzes in preparation- they're only part of the success path.
4. Using a single mode of study. There is much more to the exam than simple memorization of terms and practice quizzes. The individual states are recognizing the need to make sure their licensed professionals are proficient beyond just being able to memorize test content. The trend for test taking methodology is moving towards a competency-based/practical application ideal; a mentality where the states feel the student needs to understand the concept that lies behind the definition. The test questions are heavily tilted on an "if this...then what" basis. For example: "If an insured had a life insurance policy that named his wife as primary beneficiary, then which of the following statements would be true?" Then the student will be provided a series of answers that present the "then what" conclusion to the question.
- The Solution? Use ALL modes of study available to you. This blog, the brainteasers, the ProActives, the glossary, your instructors, all of the quizzes, the examples, the reviews, explanations on quizzes, etc. One of the best things you can do to feel comfortable with the test material is to "role-play" with someone who can keep you on track. Sell them a policy, talk to them about the conditions, exclusions, coverage afforded by the contract, deductible applications and related information. You remember much more when you practice with the information
5. Too long a period of time between study sessions. This stuff is a foreign language to most students. As such, like when learning any foreign language, it's critical that you keep up with the material. The adage "use it or lose it" absolutely applies here. You do not want to take too long in-between your study times, it's important to keep up a regular study pace and to not let a long period of time elapse between sessions. Repetition is important for memorization and the student who doesn't look at his material for a month at a whack will lose much of the knowledge gained in previous sessions spent studying.
- The Solution? Keep up a regular, daily study routine. Commit to certain times during the day or evening to spend working with the material and don't allow yourself to be interrupted. Let your family know that this is important and it's going to have to be the priority for a short period of time. Remember that the learning process changes in the adult mind and that a person older than about 25 or so cannot use the same methods that may have worked when you were in high school or college. Statistics have shown that adults who spend more than about an hour studying without taking a break actually lose more information than they retain. There's a point of diminishing return here...so take a break for a bout 5-10 minutes every 45 minutes or so and let your brain relax. Trust me- the material will still be there when you return!
The key is to remain consistent and to know the test content outline for your particular testing provider and what is emphasized on your examination. The two primary testing providers are
- Pearson-Vue Testing Corporation: On the Pearson-Vue homepage, click on "Test Taker Services" which appears next to the Pearson-Vue blue and purple logo. When the next screen appears, click on "insurance" in the left-hand menu box and your state of study in the right-hand box. The next screen will be the selected state's "insurance page." Look for "Test Content Outlines" and click on that link which will lead you to the content outline.
- Thompson-Prometric Testing Corporation: On the Thompson-Prometric home page, in the orange menu box, click on "State, County and Local Government" and in that same box choose your state of study.
- PSI Insurance Testing: On the PSI landing page, click on "Government and State Licensing Agencies. When the next screen appears, click on "Select Jurisdiction" (your state) and then click "Select Account" (the insurance examination). The next screen will ask you to select your class of licensure and, once a class has been selected, will bring you to an informational page. Look for the icon "Download Candidate Information Bulletin" and click on that icon. Print out the bulletin and read it thoroughly.
Just remember to keep working hard and tie your study efforts to those areas that are emphasized on your test. If you have any wonderful and amazing test tips, please share them with the rest of our readers. Comments are welcome and I would be happy to share good information!