Property and Casualty Insurance License Exam

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Overview

If you are preparing for a career in property and casualty insurance, you need to pick up a copy of Property and Casualty Insurance License Exam Cram. You will quickly learn the concepts, laws, rate calculations and state and federal regulations that will be covered on the exam. You'll also receive a CD that includes a fully-customizable test engine, detailed score report and state-specific law supplement. No matter where you are taking your exam or which area you need to focus on in your studies, Property and ...

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Overview

If you are preparing for a career in property and casualty insurance, you need to pick up a copy of Property and Casualty Insurance License Exam Cram. You will quickly learn the concepts, laws, rate calculations and state and federal regulations that will be covered on the exam. You'll also receive a CD that includes a fully-customizable test engine, detailed score report and state-specific law supplement. No matter where you are taking your exam or which area you need to focus on in your studies, Property and Casualty Insurance License Exam Cram is your smartest way to get certified.

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Product Details

  • ISBN-13: 9780789732644
  • Publisher: Pearson IT Certification
  • Publication date: 11/12/2004
  • Series: Exam Cram 2 Series
  • Pages: 506
  • Sales rank: 67,160
  • Product dimensions: 6.00 (w) x 8.92 (h) x 1.46 (d)

Meet the Author

Eric Alan Anderson is Director of Insurance Education for BISYS Education Services, based in Indianapolis, Indiana. He has almost 25 years of experience creating training and test preparation materials for the financial services industry. In addition to authoring 17 insurance training texts and editing 8 others, he has written newsletters and magazine articles, and he has developed materials for audio cassette/workbook, videotape, computer disk and the Web. He has also taught basic English skills courses at the college level and has made presentations to national conferences of insurance associations.

Jennifer Martin, CPCU, is Senior Editor of Property-Casualty Products for BISYS Education Services, based in Indianapolis, Indiana. She is the author of 17 insurance training texts and maintains 50 titles on BISYS Education Services' course list. Jennifer has also developed interactive web-based courses and written state insurance law digests, computer documentation, newsletters, online help, and corporate disaster recovery plans.

Richard A. Morin, CIC, is a contract author based in Los Angeles, California. He has 35 years of experience writing and training on a broad range of subjects for the financial services industry. For several years, he was an editor for a major insurance training publisher, and he has also worked as an insurance underwriter, a rating supervisor and a licensed insurance and mutual fund sales representative.

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Read an Excerpt

Property and Casualty Insurance LicenseProperty and Casualty Insurance LicenseIntroduction

Welcome to Property and Casualty Insurance License Exam Cram! Whether this is your first or your fifteenth Exam Cram series book, you'll find information here that will help ensure your success as you pursue knowledge, experience, and certification. This introduction explains state insurance licensing programs in general and talks about how the Exam Cram series can help you prepare for your state insurance licensing exam. Chapters 1–19 are designed to remind you of everything you need to know in order to take—and pass—your state insurance licensing exam. The two practice exams at the end of the book should give you a reasonably accurate assessment of your knowledge—and, yes, we've provided the answers and their explanations to the tests. Read the book and understand the material, and you'll stand a very good chance of passing the test.

Exam Cram books help you understand and appreciate the subjects and materials you need to pass state insurance licensing exams. Exam Cram books are aimed strictly at test preparation and review. They do not teach you everything you need to know to pass the exam. Instead, this book presents and dissects the questions and problems you're likely to encounter on a test. We've worked to bring together as much information as possible about state insurance licensing exams into one study guide that includes everything you need to prepare the exams.

Nevertheless, to completely prepare yourself for any state insurance licensing test, we recommend that you follow the recommendations in the Self-Assessment included in this book, immediately following this introduction. The review questions, practice exams, and optional study materials described in the Self-Assessment can help you evaluate your knowledge base against the requirements for a state insurance licensing exam under both ideal and real circumstances.

Based on what you learn from the Self-Assessment, you might decide to begin your studies with some more comprehensive self-study or classroom training, some practice with state insurance exam simulators, or an audio review program. On the other hand, you might decide to pick up and read one of the many study guides available from third-party vendors on certain

topics. We also recommend that you supplement your study program with a visit to your state insurance department's website to get all the details about how to obtain your insurance license as well as how to schedule and take your insurance licensing exam.

Getting an Insurance License

Licensing is the way governments ensure that only qualified individuals are allowed to practice certain important professions, such as being an insurance producer. Because insurance is regulated primarily at the state level, the rules for getting an insurance license vary somewhat from state to state.

Every state requires individuals to pass a qualification exam to get an insurance license. In addition, most states require individuals to meet a "pre-licensing education requirement" before they can take the qualification exam. In some states, the pre-licensing education requirement can be met through an approved self-study course—that is, you buy a book that has been approved in advance by the state insurance department and take an exam (not to be confused with the licensing qualification exam) that you send in to be graded. In other states, the pre-licensing education requirement can only be met by attending an approved classroom course.

Note - This Exam Cram text is not approved to meet the pre-licensing education requirement in any specific state. It is designed only as a supplementary aid to help you pass the state insurance licensing exam.

Besides fulfilling any pre-licensing education requirement and passing the licensing exam, insurance license candidates must also submit a license application to their state insurance department and have it approved. In some states, the license application must be submitted before taking the license qualification exam; in some states, it must be submitted after passing the exam. Call your state insurance department's licensing division or visit its website to find out what you need to do in your state.

Taking a Licensing Exam

As with other aspects of insurance licensing, specific instructions on how to register for your qualification exam are available from the insurance department. Ask for a licensing information bulletin or a licensing candidate handbook, which will describe where and when exams are given, the fees you must pay, and the testing procedures.

One thing all state insurance qualification exams have in common is that they are "closed book" exams. You will not be allowed to take any study materials or notes into the testing room. Even phones and calculators may not be allowed. In some states, the only items exam candidates are permitted to take into the testing room are their wallet and keys.

In most states, insurance qualification exams are given on computers. However, you will not need any computer or typing skills to take the exam. You will be instructed how to answer questions and given a short practice test to get comfortable with the equipment before the actual qualification exam begins.

When you complete a computer-administered exam, the software tells you immediately whether you've passed or failed. Your states will have rules for retesting in the event you don't pass. Those rules are described in your licensing information bulletin/candidate handbook.

How to Prepare for an Exam

Whether or not your state has a pre-licensing education requirement, you'll want to study in preparation for the license qualification exam. And even if your state has a pre-licensing education requirement, you'll probably want to do some additional studying to make sure that you are fully prepared for the exam. Your options for additional study include the following:

  • Self-study courses: Publishers such as BISYS Education Services offer courses designed to allow you to study on your own for the licensing qualification exam. BISYS license training packages are available in either web-based or print-based formats and contain a number of components:
    • A Property-Casualty Concepts text that covers all the non–state-specific topics on the licensing exam
    • Practice exams that help you evaluate your comprehension of the material in the Concepts text
    • Explanations to answers on the practice exams so that you'll know why each of your responses was right or wrong
    • A state insurance law digest that covers all the state-specific topics on the licensing exam
    • An optional audio CD review program that reviews the key information contained in the Concepts text
    • An optional exam simulator that gives you additional question-and-answer practice over the material covered in the Concepts text and the state insurance law digest
  • Classroom training: Many colleges and commercial training companies offer classroom training for insurance license exams. Although classroom training generally costs considerably more than self-study, some individuals find that they learn best in a classroom situation. And of course, in many states, the pre-licensing education requirement must be met with classroom study in any case.
  • Other sources: There's no shortage of materials available on insurance topics. Appendix B, "Need to Know More" will give you an idea of where we think you should look for further discussion.

In addition, Que Publishing's Exam Cram

insurance licensing preparation materials are useful in your quest for insurance knowledge. Exam Cram books provide you with a review of the essential information you need to know to pass the tests. They focus the detailed information in the Concepts texts available from BISYS Education Services. Together, the BISYS Education Services license training packages and the Exam Cram review materials create a powerful exam preparation program.

This set of required and recommended materials represents an unparalleled collection of sources and resources for insurance licensing qualification and related topics. Our hope is you'll find that this book belongs in that company.

What This Book Will Not Do

This book by itself will not teach you everything you need to know to pass your insurance licensing exam. It does not cover the state-specific topics that appear on the exam, usually dealing with laws that apply only in your particular state. That information, although it represents a small proportion of the entire exam, is critical to passing the exam. State-specific topics are covered in the state insurance law digests available from BISYS Education Services. This book reviews the rest of what you need to know before you take the test, with the fundamental purpose dedicated to reviewing the non–state-specific information on the insurance licensing exam.

What This Book Is Designed to Do

This book uses a variety of teaching and memorization techniques to analyze the exam-related topics and to provide you with ways to input, index, and retrieve what you'll need to know in order to pass the test.

This book is designed to be read as a pointer to the areas of knowledge you will be tested on. In other words, you might want to read the book one time, just to get an insight into how comprehensive your knowledge of insurance is. The book is also designed to be read shortly before you go for the actual test and to give you a distillation of the topics covered by the exam in as few pages as possible. We think that you can use this book to get a sense of the underlying context of any topic in the chapters—or to skim read for Exam Alerts, bulleted points, summaries, and topic headings.

We've drawn on material from each state's exam outlines and from other preparation guides, in particular, BISYS Education Services' Property-Casualty Concepts text. Our aim is to walk you through the knowledge you will need—looking over your shoulder, so to speak—and point out those things that are important for the exam (Exam Alerts, practice questions, and so on).

We've tried to demystify insurance jargon, acronyms, terms, and concepts. Also, wherever we think you're likely to blur past an important concept, we've defined the assumptions and premises behind that concept.

About This Book

We've structured the topics in this book to build upon one another. Therefore, the topics covered in later chapters might refer to previous discussions in earlier chapters. We suggest that you read this book from front to back.

After you read the book, you can brush up on a certain area by using the Index or the Table of Contents to go straight to the topics and questions you want to reexamine. We've tried to use the headings and subheadings to provide outline information about each given topic. After you've passed the exam and obtained your insurance license, we think that you'll find this book useful as a tightly focused reference and an essential foundation of insurance information.

Chapter Formats

Each Exam Cram chapter follows a standard structure, along with graphical cues about especially important or useful material. The structure of a typical chapter is as follows:

  • Opening hotlists: Each chapter begins with lists of the terms you'll need to understand and the concepts you'll need to master before you can be fully conversant with the chapter's subject matter.
  • Topical coverage: After the opening hotlists, each chapter covers the topics related to the chapter's subject.
  • Alerts: Throughout the topical coverage section, we highlight material most likely to appear on the exam by using a special Exam Alert layout that looks like this:

    Caution - This is what an Exam Alert looks like. An Exam Alert stresses concepts or terms that will most likely appear in one or more license exam questions. For that reason, we think any information found offset in Exam Alert format is worthy of unusual attentiveness on your part.

    Even if material isn't flagged as an Exam Alert, all the content in this book is associated in some way with test-related material. What appears in the chapter content is critical knowledge.

  • Notes: This book is an overall examination of entry-level insurance knowledge. As such, we'll touch on many aspects of insurance that open doors for further inquiry. Where a topic goes deeper than the scope of the book, we use notes to indicate areas of concern or further training.

    Note - Cramming for an exam will get you through a test, but it won't make you a fully competent insurance professional. Although you can memorize just the facts you need in order to become licensed, your daily work in the field will rapidly put you in water over your head if you don't continue your insurance education.

  • Review questions: At the end of each chapter is a short list of test questions related to that chapter's topic. Each question has a following explanation of both correct and incorrect answers. The practice questions highlight the areas we found to be most important on the exam.
  • Need to Know More: On the CD-ROM is an appendix titled "Need To Know More." This appendix provides pointers to resources that we found to be helpful in offering further details on the book's subject matter. If you find a resource you like in this collection, use it, but don't feel compelled to use all these resources. In this appendix, we recommend resources that we have used on a regular basis, so none of the recommendations will be a waste of your time or money. These resources might go out of print or be taken down (in the case of websites), so we've tried to reference widely accepted resources.

The bulk of the book follows this chapter structure, but there are a few other elements that we would like to point out:

  • Practice exams: The practice exams, which appear in Chapters 20 and 22 (with answer keys in Chapters 21 and 23), are intended to test your comprehension of the material in this book. They are also intended to be in a similar format and degree of difficulty as the questions you are likely to see on the license exam. However, because the questions on the actual exam are kept highly confidential, you should expect that the questions on the actual license exam will be ones that you have never seen before.
  • Quick Check answer keys: These provide the answers to the practice exams, complete with explanations of both the correct and incorrect responses.
  • Glossary: This is an extensive glossary of important terms used in this book.
  • The Cram Sheet: This appears as a tear-away sheet, inside the front cover of this Exam Cram book. It is a valuable tool that represents a collection of the most difficult-to-remember facts, terms, and concepts we think you should memorize before taking the test.

    You might want to look at the Cram Sheet in your car or in the lobby of the testing center just before you walk into the testing center. The Cram Sheet is divided under headings, so you can review the appropriate parts just before each test.

  • The CD: The CD contains the BISYS Education Services Exam Simulator, Preview Edition software. The Preview Edition exhibits most of the functionality of the commercially available version, but offers a reduced number of unit review questions and a 50-question practice exam. To get the complete set of practice questions and 100-question exam functionality, visit http://www.bisyseducation.com or call 1-800-241-9095.
Contacting the Source

We tried to create a real-world tool that you can use to prepare for and pass your state insurance licensing exam. We're interested in any feedback you would care to share about the book, especially if you have ideas about how we can improve it for future test takers. We'll carefully consider everything you say and will respond to all reasonable suggestions and comments. You can reach us via email at customerservice@bisys-education.com.

Let us know if you found this book to be helpful in your preparation efforts. We'd also like to know how you felt about your chances of passing the exam before you read the book and then after you read the book. Of course, we'd love to hear that you passed the exam—and even if you just want to share your triumph, we'd be happy to hear from you.

Thanks for choosing us as your license exam preparation coach, and enjoy the book. We wish you luck on the exam, but we know that if you read through all the chapters and work with the product, you won't need luck—you'll pass the test on the strength of real knowledge!

© Copyright Pearson Education. All rights reserved.

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Table of Contents

Introduction.

Self-Assessment.

1. Principles of Insurance.

Risk.

Managing Risk.

Insurance.

Law of Large Numbers.

Elements of Insurability.

Pure and Speculative Risks.

Insurable Interest.

Other Elements of Insurability.

Other Insurance Terms.

Peril.

Hazard.

Physical, Morale, and Moral Hazards.

Exam Prep Questions.

Exam Prep Answers.

2. The Insurance Contract.

Elements of a Valid Contract.

Characteristics of an Insurance Contract.

Principle of Indemnity.

Personal.

Aleatory.

Adhesion.

Unilateral.

Contract of Utmost Good Faith.

Conditional.

Parts of the Insurance Contract.

Exam Prep Questions.

Exam Prep Answers.

3. Insurance Company Organization and Regulation.

Types of Insurance Organizations.

Stock and Mutual Companies.

Reciprocal Insurers.

Lloyd's Associations.

Fraternal Benefit Societies.

Risk Retention Groups and Purchasing Groups.

Self-Insurance.

Private Versus Government Insurers.

Lines of Insurance.

Four Major Lines of Insurance.

Personal and Commercial Lines.

Insurance Company Organization.

Agents and Their Duties.

Continuing Education Needs for Agents.

Authority of Agents.

Insurance Marketing Systems.

Other Insurance Professionals.

Other Insurance Functions.

Regulation of Insurance.

State Insurance Regulation.

Regulation of Companies.

Regulation of Agents.

Form and Rate Filings.

Enforcement.

Federal Regulation.

Exam Prep Questions.

Exam Prep Answers.

4. Insurance Transactions.

Applications.

Binders.

Underwriting a Policy.

Fair Credit Reporting Act.

Adverse Selection.

Rating a Policy.

Judgment Rating.

Manual Rating.

Merit Rating.

Certificates of Insurance.

Misrepresentation, Concealment, and Fraud.

Representations and Warranties.

Waiver and Estoppel.

Cancellation and Nonrenewal.

Exam Prep Questions.

Exam Prep Answers.

5. Introduction to Property Insurance.

Declarations.

Who Is Insured.

What Property Is Covered and Where.

When Property Is Insured.

How Much Property Is Insured For.

Endorsements That Apply.

Insuring Agreements.

Property Covered.

Perils Insured Against.

Direct and Indirect Loss.

Exclusions and Limitations.

Concurrent Causation.

Conditions.

Duties Following Loss.

Valuation.

Coinsurance.

When Losses Are Paid.

Pair or Set Clauses.

Deductible.

Salvage and Abandonment.

Subrogation.

Appraisal and Arbitration.

Other Insurance.

Liberalization.

Assignment.

No Benefit to Bailee.

Mortgage Condition.

Policy Period and Policy Territory.

Vacancy and Unoccupancy.

Reporting Forms.

Exam Prep Questions.

Exam Prep Answers.

6. Introduction to Liability Insurance.

Negligence.

Establishing Negligence.

Defenses Against Negligence.

Contributory Negligence.

Comparative Negligence.

Other Defenses Against Negligence.

Absolute Liability.

Vicarious Liability.

Liability Insurance.

Third Party Losses.

Types of Damages.

Insuring Agreement.

Policy Limits.

Exclusions.

Conditions.

Exam Prep Questions.

Exam Prep Answers.

7. Dwelling Insurance.

Eligibility and Insureds.

Basic Form (DP-1).

Major Policy Coverages.

Perils Insured Against.

Extended Coverage Perils.

Other Coverages.

Exclusions.

Conditions.

Broad Form (DP-2) and Special Form (DP-3).

Covered Perils-Broad Form.

Covered Perils-Special Form.

Major Policy Coverages.

Other Coverages.

Replacement Cost Coverage.

Dwelling Forms Comparison.

Dwelling Policy Endorsements.

Broad Theft Coverage.

Limited Theft Coverage.

Personal Liability and Medical Payments to Others.

Other Endorsements.

Dwelling 2002 Forms.

Coverage B.

Coverage C.

Other Coverages.

Perils Insured Against.

General Exclusions.

Conditions.

Exam Prep Questions.

Exam Prep Answers.

8. Homeowners Insurance.

Eligibility and Insureds.

Extent and Scope of Homeowners Coverage.

Section I-Property.

Coverage A-Dwelling and Coverage B-Other Structures.

Coverage C-Personal Property.

Coverage D-Loss of Use.

Additional Coverages.

Perils Insured Against.

Exclusions.

Conditions.

Limits of Liability-Deductible.

Section II-Liability.

Coverage E-Personal Liability.

Coverage F-Medical Payments to Others.

Exclusions.

Additional Coverages.

Conditions.

Homeowners Endorsements.

Section I Endorsements.

Section II Endorsements.

Limited Fungi, Wet or Dry Rot, or Bacteria Coverage.

Homeowners Forms Comparison.

Exam Prep Questions.

Exam Prep Answers.

9. Personal Auto Insurance.

Organization and Eligibility.

Definitions.

For Liability, Medical Payments, and Uninsured Motorists Coverage.

For Physical Damage Coverage.

Part A-Liability Coverage.

Coverage.

Who Is an Insured.

Supplementary Payments.

Exclusions.

Limits of Liability.

Financial Responsibility.

Out of State Coverage.

Other Insurance.

Part B-Medical Payments Coverage.

Coverage-Who Is an Insured.

Exclusions.

Limits of Liability and Other Insurance.

Part C-Uninsured Motorists Coverage.

Coverage.

Definition of Uninsured Motor Vehicle.

Who Is Insured.

Exclusions.

Limit of Liability.

Other Insurance.

Arbitration.

Part D-Coverage for Damage to Your Auto.

Coverage.

Transportation Expenses.

Exclusions.

Other Provisions.

Parts E and F-Conditions.

Underinsured Motorists Coverage.

Personal Auto Policy Endorsements.

No-Fault Insurance.

Assigned Risk Plans.

Exam Prep Questions.

Exam Prep Answers.

10. Miscellaneous Personal Insurance.

Flood Insurance.

Eligibility.

Coverage.

Property Not Covered.

Other Provisions.

Write Your Own Program.

Application Procedures.

Earthquake Insurance.

Mobile Home Insurance.

Personal Inland Marine Insurance.

Personal Inland Marine Forms.

Personal Watercraft Insurance.

Boatowners and Outboard Motor and Boat Policies.

Personal Yacht Policies.

Personal Umbrella Insurance.

Excess Liability Coverage.

Coverage for Excluded Losses.

FAIR Plans.

Exam Prep Questions.

Exam Prep Answers.

11. The Commercial Package Policy.

Eligible Coverages.

Common Policy Declarations.

Common Policy Conditions.

Cancellation.

Changes and Premiums.

Examination of Books and Records and Inspections and Surveys.

Transfer of Rights and Duties.

Exam Prep Questions.

Exam Prep Answers.

12. The Businessowners Policy.

Eligibility and Policy Organization.

Eligible Occupancies.

Ineligible Risks.

Organization.

Property Coverage.

Building Coverage.

Business Personal Property Coverage.

Property Not Covered.

Covered Causes of Loss.

Additional Coverages.

Coverage Extensions.

Optional Coverages.

Limits of Insurance.

Deductible.

Liability and Medical Expenses Coverage.

Liability Coverage.

Supplementary Payments.

Medical Expenses Coverage.

Exclusions.

Who Is an Insured.

Limits of Insurance.

Conditions.

Endorsements.

Utility Services Endorsements.

Protective Safeguards Endorsement.

Hired Auto and Nonowned Auto Liability.

Comparison of Commercial Package Policy and Businessowners Policy.

Exam Prep Questions.

Exam Prep Answers.

13. Commercial Property Insurance.

Commercial Property Coverage Part.

Commercial Property Declarations and Coverage Forms.

Causes of Loss Forms.

Commercial Property Conditions Form.

Building and Personal Property Coverage Form.

Property Covered.

Property Not Covered.

Additional Coverages.

Coverage Extensions.

Conditions.

Optional Coverages.

Builders Risk Coverage Form.

Property Covered.

Amount of Coverage Available.

Miscellaneous Conditions.

Builders Risk Reporting Form.

Condominium Coverage Forms.

Business Income Coverage Forms.

Coverages.

Additional Coverages.

Optional Coverages.

Business Income from Dependent Properties-Broad Form.

Extra Expense Coverage Form.

Legal Liability Coverage Form.

Causes of Loss Forms.

Basic.

Broad.

Special.

Causes of Loss-Earthquake and Volcanic Eruption.

Comparison of Causes of Loss.

Endorsements.

Value Reporting Endorsements.

Ordinance or Law Coverage Endorsement.

Spoilage Endorsement.

Exam Prep Questions.

Exam Prep Answers.

14. Ocean and Inland Marine Insurance.

Ocean Marine Insurance.

Categories of Ocean Marine Insurance.

Characteristics of Ocean Marine Insurance.

Inland Marine Insurance.

Nationwide Definition.

Filed and Nonfiled Forms.

Filed Forms.

Commercial Inland Marine Coverage Part.

Commercial Inland Marine Conditions.

Mail Coverage Form.

Physicians and Surgeons Equipment Coverage Form.

Theatrical Property Coverage Form.

Film Coverage Form.

Commercial Articles Coverage Form.

Accounts Receivable Coverage Form.

Valuable Papers and Records Coverage Form.

Signs Coverage Form.

Jewelers Block Coverage Form.

Floor Plan Coverage Form.

Equipment Dealers Coverage Form.

Camera and Musical Instrument Dealers Coverage Form.

Nonfiled Forms.

Domestic Shipments.

Instrumentalities of Transportation and Communication.

Commercial Property Floater Risks.

Exam Prep Questions.

Exam Prep Answers.

15. Commercial General Liability Insurance.

Business Liability Exposures.

Premises and Operations Exposure.

Products-Completed Operations Exposure.

Indirect or Contingent Liability Exposure.

Exposures Covered by Commercial General Liability Insurance.

Commercial General Liability Coverage Part.

Occurrence Form.

Claims-Made Form.

Definitions.

CGL Coverages Provided.

Coverage A-Bodily Injury and Property Damage Liability.

Exclusions-Coverage A.

Coverage B-Personal and Advertising Injury Liability.

Exclusions-Coverage B.

Coverage A and B Supplementary Payments.

Coverage C-Medical Payments.

Exclusions-Coverage C.

Who Is an Insured?

Named Insured.

Others Who May Be Insured.

Newly Acquired Organizations.

Limits of Insurance.

Conditions.

Duties in the Event of Occurrence, Offense, Claim, or Suit.

Nonrenewal.

Other Insurance.

Claim Information.

Other Commercial General Liability Coverage Forms and Endorsements.

Exam Prep Questions.

Exam Prep Answers.

16. Commercial Auto Insurance.

Commercial Auto Coverage Part.

Business Auto Coverage Form.

Definitions.

Covered Autos.

Liability Coverage.

Physical Damage Coverage.

Conditions.

Garage Coverage Form.

Covered Autos.

Liability Coverage.

Garagekeepers Coverage.

Physical Damage Coverage.

Truckers Coverage Form.

Covered Autos.

Trailer Interchange Coverage.

Motor Carrier Coverage Form.

Motor Carrier Act of 1980.

Endorsements.

Drive Other Car Coverage Endorsement.

Individual Named Insured.

Employees as Additional Insureds.

Other Endorsements.

Exam Prep Questions.

Exam Prep Answers.

17. Commercial Crime Insurance.

Types of Crime Forms.

Loss Sustained Form.

Discovery Form.

Definitions.

Types of Crimes.

Other Definitions.

Insuring Agreements and Endorsements.

Employee Theft.

Forgery or Alteration.

Inside the Premises-Theft of Money and Securities.

Inside the Premises-Robbery or Safe Burglary of Other Property.

Outside the Premises.

Computer Fraud.

Money Orders and Counterfeit Paper Currency.

Funds Transfer Fraud.

Extortion-Commercial Entities Endorsement.

Exclusions.

For All Coverages.

For Selected Coverages.

Conditions.

Cancellation as to Any Employee.

Valuation.

Other Conditions That Apply to All Coverages.

Conditions That Apply to Selected Coverages.

Fidelity Bonds.

Parties to a Bond.

Types of Fidelity Bonds.

Exam Prep Questions.

Exam Prep Answers.

18. Workers Compensation.

Workers Compensation Laws.

Occupations Covered.

Benefits Provided.

Compensable Injuries.

Types of Disability.

Compulsory Versus Elective.

Funding.

Workers Compensation and Employers Liability Policy.

Coverages.

Exclusions.

Endorsements.

Federal Workers Compensation Laws.

Rating Workers Compensation Coverage.

Exam Prep Questions.

Exam Prep Questions.

19. Miscellaneous Commercial Insurance.

Farm Insurance.

Farm Property Coverage Forms.

Farm Liability Coverage Form.

Boiler and Machinery Insurance.

Boiler and Machinery Coverage Part.

Equipment Breakdown Protection Coverage Form.

Aviation Insurance.

Physical Damage Coverage.

Liability Coverage.

Professional Liability Insurance.

Employment Practices Liability Insurance.

Difference in Conditions Insurance.

Commercial Umbrella Insurance.

Surety Bonds.

Contract Bonds.

Judicial Bonds.

Other Types of Bonds.

Surplus Lines.

The Unauthorized Market and Surplus Lines.

Conditions for Obtaining Coverage.

Federal Terrorism Risk Insurance Act of 2002.

Background.

Temporary Program.

Definitions.

General Overview of Program.

Insurer Deductibles.

Cap on Annual Liability.

Exam Prep Questions.

Exam Prep Answers.

20. Practice Exam 1.

Practice Exam 1 Questions.

21. Answers to Practice Exam 1.

Quick Check Answer Key 1.

Answers and Explanations.

22. Practice Exam 2.

Practice Exam 2 Questions.

23. Answers to Practice Exam 2.

Quick Check Answer Key 2.

Answers and Explanations.

Appendix A. What's on the CD-ROM.

Appendix B. Need to Know More - CD.

Glossary.

Index.

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Preface

Property and Casualty Insurance LicenseIntroduction

Welcome to Property and Casualty Insurance License Exam Cram! Whether this is your first or your fifteenth Exam Cram series book, you'll find information here that will help ensure your success as you pursue knowledge, experience, and certification. This introduction explains state insurance licensing programs in general and talks about how the Exam Cram series can help you prepare for your state insurance licensing exam. Chapters 1–19 are designed to remind you of everything you need to know in order to take—and pass—your state insurance licensing exam. The two practice exams at the end of the book should give you a reasonably accurate assessment of your knowledge—and, yes, we've provided the answers and their explanations to the tests. Read the book and understand the material, and you'll stand a very good chance of passing the test.

Exam Cram books help you understand and appreciate the subjects and materials you need to pass state insurance licensing exams. Exam Cram books are aimed strictly at test preparation and review. They do not teach you everything you need to know to pass the exam. Instead, this book presents and dissects the questions and problems you're likely to encounter on a test. We've worked to bring together as much information as possible about state insurance licensing exams into one study guide that includes everything you need to prepare the exams.

Nevertheless, to completely prepare yourself for any state insurance licensing test, we recommend that you follow the recommendations in the Self-Assessmentincluded in this book, immediately following this introduction. The review questions, practice exams, and optional study materials described in the Self-Assessment can help you evaluate your knowledge base against the requirements for a state insurance licensing exam under both ideal and real circumstances.

Based on what you learn from the Self-Assessment, you might decide to begin your studies with some more comprehensive self-study or classroom training, some practice with state insurance exam simulators, or an audio review program. On the other hand, you might decide to pick up and read one of the many study guides available from third-party vendors on certain

topics. We also recommend that you supplement your study program with a visit to your state insurance department's website to get all the details about how to obtain your insurance license as well as how to schedule and take your insurance licensing exam.

Getting an Insurance License

Licensing is the way governments ensure that only qualified individuals are allowed to practice certain important professions, such as being an insurance producer. Because insurance is regulated primarily at the state level, the rules for getting an insurance license vary somewhat from state to state.

Every state requires individuals to pass a qualification exam to get an insurance license. In addition, most states require individuals to meet a "pre-licensing education requirement" before they can take the qualification exam. In some states, the pre-licensing education requirement can be met through an approved self-study course—that is, you buy a book that has been approved in advance by the state insurance department and take an exam (not to be confused with the licensing qualification exam) that you send in to be graded. In other states, the pre-licensing education requirement can only be met by attending an approved classroom course.

Note - This Exam Cram text is not approved to meet the pre-licensing education requirement in any specific state. It is designed only as a supplementary aid to help you pass the state insurance licensing exam.

Besides fulfilling any pre-licensing education requirement and passing the licensing exam, insurance license candidates must also submit a license application to their state insurance department and have it approved. In some states, the license application must be submitted before taking the license qualification exam; in some states, it must be submitted after passing the exam. Call your state insurance department's licensing division or visit its website to find out what you need to do in your state.

Taking a Licensing Exam

As with other aspects of insurance licensing, specific instructions on how to register for your qualification exam are available from the insurance department. Ask for a licensing information bulletin or a licensing candidate handbook, which will describe where and when exams are given, the fees you must pay, and the testing procedures.

One thing all state insurance qualification exams have in common is that they are "closed book" exams. You will not be allowed to take any study materials or notes into the testing room. Even phones and calculators may not be allowed. In some states, the only items exam candidates are permitted to take into the testing room are their wallet and keys.

In most states, insurance qualification exams are given on computers. However, you will not need any computer or typing skills to take the exam. You will be instructed how to answer questions and given a short practice test to get comfortable with the equipment before the actual qualification exam begins.

When you complete a computer-administered exam, the software tells you immediately whether you've passed or failed. Your states will have rules for retesting in the event you don't pass. Those rules are described in your licensing information bulletin/candidate handbook.

How to Prepare for an Exam

Whether or not your state has a pre-licensing education requirement, you'll want to study in preparation for the license qualification exam. And even if your state has a pre-licensing education requirement, you'll probably want to do some additional studying to make sure that you are fully prepared for the exam. Your options for additional study include the following:

  • Self-study courses: Publishers such as BISYS Education Services offer courses designed to allow you to study on your own for the licensing qualification exam. BISYS license training packages are available in either web-based or print-based formats and contain a number of components:

    • A Property-Casualty Concepts text that covers all the non–state-specific topics on the licensing exam

    • Practice exams that help you evaluate your comprehension of the material in the Concepts text

    • Explanations to answers on the practice exams so that you'll know why each of your responses was right or wrong

    • A state insurance law digest that covers all the state-specific topics on the licensing exam

    • An optional audio CD review program that reviews the key information contained in the Concepts text

    • An optional exam simulator that gives you additional question-and-answer practice over the material covered in the Concepts text and the state insurance law digest

  • Classroom training: Many colleges and commercial training companies offer classroom training for insurance license exams. Although classroom training generally costs considerably more than self-study, some individuals find that they learn best in a classroom situation. And of course, in many states, the pre-licensing education requirement must be met with classroom study in any case.

  • Other sources: There's no shortage of materials available on insurance topics. Appendix B, "Need to Know More" will give you an idea of where we think you should look for further discussion.

In addition, Que Publishing's Exam Cram insurance licensing preparation materials are useful in your quest for insurance knowledge. Exam Cram books provide you with a review of the essential information you need to know to pass the tests. They focus the detailed information in the Concepts texts available from BISYS Education Services. Together, the BISYS Education Services license training packages and the Exam Cram review materials create a powerful exam preparation program.

This set of required and recommended materials represents an unparalleled collection of sources and resources for insurance licensing qualification and related topics. Our hope is you'll find that this book belongs in that company.

What This Book Will Not Do

This book by itself will not teach you everything you need to know to pass your insurance licensing exam. It does not cover the state-specific topics that appear on the exam, usually dealing with laws that apply only in your particular state. That information, although it represents a small proportion of the entire exam, is critical to passing the exam. State-specific topics are covered in the state insurance law digests available from BISYS Education Services. This book reviews the rest of what you need to know before you take the test, with the fundamental purpose dedicated to reviewing the non–state-specific information on the insurance licensing exam.

What This Book Is Designed to Do

This book uses a variety of teaching and memorization techniques to analyze the exam-related topics and to provide you with ways to input, index, and retrieve what you'll need to know in order to pass the test.

This book is designed to be read as a pointer to the areas of knowledge you will be tested on. In other words, you might want to read the book one time, just to get an insight into how comprehensive your knowledge of insurance is. The book is also designed to be read shortly before you go for the actual test and to give you a distillation of the topics covered by the exam in as few pages as possible. We think that you can use this book to get a sense of the underlying context of any topic in the chapters—or to skim read for Exam Alerts, bulleted points, summaries, and topic headings.

We've drawn on material from each state's exam outlines and from other preparation guides, in particular, BISYS Education Services' Property-Casualty Concepts text. Our aim is to walk you through the knowledge you will need—looking over your shoulder, so to speak—and point out those things that are important for the exam (Exam Alerts, practice questions, and so on).

We've tried to demystify insurance jargon, acronyms, terms, and concepts. Also, wherever we think you're likely to blur past an important concept, we've defined the assumptions and premises behind that concept.

About This Book

We've structured the topics in this book to build upon one another. Therefore, the topics covered in later chapters might refer to previous discussions in earlier chapters. We suggest that you read this book from front to back.

After you read the book, you can brush up on a certain area by using the Index or the Table of Contents to go straight to the topics and questions you want to reexamine. We've tried to use the headings and subheadings to provide outline information about each given topic. After you've passed the exam and obtained your insurance license, we think that you'll find this book useful as a tightly focused reference and an essential foundation of insurance information.

Chapter Formats

Each Exam Cram chapter follows a standard structure, along with graphical cues about especially important or useful material. The structure of a typical chapter is as follows:

  • Opening hotlists: Each chapter begins with lists of the terms you'll need to understand and the concepts you'll need to master before you can be fully conversant with the chapter's subject matter.

  • Topical coverage: After the opening hotlists, each chapter covers the topics related to the chapter's subject.

  • Alerts: Throughout the topical coverage section, we highlight material most likely to appear on the exam by using a special Exam Alert layout that looks like this:

  • Caution - This is what an Exam Alert looks like. An Exam Alert stresses concepts or terms that will most likely appear in one or more license exam questions. For that reason, we think any information found offset in Exam Alert format is worthy of unusual attentiveness on your part.


    Even if material isn't flagged as an Exam Alert, all the content in this book is associated in some way with test-related material. What appears in the chapter content is critical knowledge.

  • Notes: This book is an overall examination of entry-level insurance knowledge. As such, we'll touch on many aspects of insurance that open doors for further inquiry. Where a topic goes deeper than the scope of the book, we use notes to indicate areas of concern or further training.

  • Note - Cramming for an exam will get you through a test, but it won't make you a fully competent insurance professional. Although you can memorize just the facts you need in order to become licensed, your daily work in the field will rapidly put you in water over your head if you don't continue your insurance education.

  • Review questions: At the end of each chapter is a short list of test questions related to that chapter's topic. Each question has a following explanation of both correct and incorrect answers. The practice questions highlight the areas we found to be most important on the exam.

  • Need to Know More: On the CD-ROM is an appendix titled "Need To Know More." This appendix provides pointers to resources that we found to be helpful in offering further details on the book's subject matter. If you find a resource you like in this collection, use it, but don't feel compelled to use all these resources. In this appendix, we recommend resources that we have used on a regular basis, so none of the recommendations will be a waste of your time or money. These resources might go out of print or be taken down (in the case of websites), so we've tried to reference widely accepted resources.

The bulk of the book follows this chapter structure, but there are a few other elements that we would like to point out:

  • Practice exams: The practice exams, which appear in Chapters 20 and 22 (with answer keys in Chapters 21 and 23), are intended to test your comprehension of the material in this book. They are also intended to be in a similar format and degree of difficulty as the questions you are likely to see on the license exam. However, because the questions on the actual exam are kept highly confidential, you should expect that the questions on the actual license exam will be ones that you have never seen before.

  • Quick Check answer keys: These provide the answers to the practice exams, complete with explanations of both the correct and incorrect responses.

  • Glossary: This is an extensive glossary of important terms used in this book.

  • The Cram Sheet: This appears as a tear-away sheet, inside the front cover of this Exam Cram book. It is a valuable tool that represents a collection of the most difficult-to-remember facts, terms, and concepts we think you should memorize before taking the test.

  • You might want to look at the Cram Sheet in your car or in the lobby of the testing center just before you walk into the testing center. The Cram Sheet is divided under headings, so you can review the appropriate parts just before each test.

  • The CD: The CD contains the BISYS Education Services Exam Simulator, Preview Edition software. The Preview Edition exhibits most of the functionality of the commercially available version, but offers a reduced number of unit review questions and a 50-question practice exam. To get the complete set of practice questions and 100-question exam functionality, visit http://www.bisyseducation.com or call 1-800-241-9095.

Contacting the Source

We tried to create a real-world tool that you can use to prepare for and pass your state insurance licensing exam. We're interested in any feedback you would care to share about the book, especially if you have ideas about how we can improve it for future test takers. We'll carefully consider everything you say and will respond to all reasonable suggestions and comments. You can reach us via email at customerservice@bisys-education.com.

Let us know if you found this book to be helpful in your preparation efforts. We'd also like to know how you felt about your chances of passing the exam before you read the book and then after you read the book. Of course, we'd love to hear that you passed the exam—and even if you just want to share your triumph, we'd be happy to hear from you.

Thanks for choosing us as your license exam preparation coach, and enjoy the book. We wish you luck on the exam, but we know that if you read through all the chapters and work with the product, you won't need luck—you'll pass the test on the strength of real knowledge!


© Copyright Pearson Education. All rights reserved.

Read More Show Less

Introduction

Property and Casualty Insurance License

Introduction

Welcome to Property and Casualty Insurance License Exam Cram! Whether this is your first or your fifteenth Exam Cram series book, you'll find information here that will help ensure your success as you pursue knowledge, experience, and certification. This introduction explains state insurance licensing programs in general and talks about how the Exam Cram series can help you prepare for your state insurance licensing exam. Chapters 1–19 are designed to remind you of everything you need to know in order to take--and pass--your state insurance licensing exam. The two practice exams at the end of the book should give you a reasonably accurate assessment of your knowledge--and, yes, we've provided the answers and their explanations to the tests. Read the book and understand the material, and you'll stand a very good chance of passing the test.

Exam Cram books help you understand and appreciate the subjects and materials you need to pass state insurance licensing exams. Exam Cram books are aimed strictly at test preparation and review. They do not teach you everything you need to know to pass the exam. Instead, this book presents and dissects the questions and problems you're likely to encounter on a test. We've worked to bring together as much information as possible about state insurance licensing exams into one study guide that includes everything you need to prepare the exams.

Nevertheless, to completely prepare yourself for any state insurance licensing test, we recommend that you follow the recommendations in the Self-Assessment included in this book, immediatelyfollowing this introduction. The review questions, practice exams, and optional study materials described in the Self-Assessment can help you evaluate your knowledge base against the requirements for a state insurance licensing exam under both ideal and real circumstances.

Based on what you learn from the Self-Assessment, you might decide to begin your studies with some more comprehensive self-study or classroom training, some practice with state insurance exam simulators, or an audio review program. On the other hand, you might decide to pick up and read one of the many study guides available from third-party vendors on certain

topics. We also recommend that you supplement your study program with a visit to your state insurance department's website to get all the details about how to obtain your insurance license as well as how to schedule and take your insurance licensing exam.

Getting an Insurance License

Licensing is the way governments ensure that only qualified individuals are allowed to practice certain important professions, such as being an insurance producer. Because insurance is regulated primarily at the state level, the rules for getting an insurance license vary somewhat from state to state.

Every state requires individuals to pass a qualification exam to get an insurance license. In addition, most states require individuals to meet a "pre-licensing education requirement" before they can take the qualification exam. In some states, the pre-licensing education requirement can be met through an approved self-study course--that is, you buy a book that has been approved in advance by the state insurance department and take an exam (not to be confused with the licensing qualification exam) that you send in to be graded. In other states, the pre-licensing education requirement can only be met by attending an approved classroom course.


Note - This Exam Cram text is not approved to meet the pre-licensing education requirement in any specific state. It is designed only as a supplementary aid to help you pass the state insurance licensing exam.

Besides fulfilling any pre-licensing education requirement and passing the licensing exam, insurance license candidates must also submit a license application to their state insurance department and have it approved. In some states, the license application must be submitted before taking the license qualification exam; in some states, it must be submitted after passing the exam. Call your state insurance department's licensing division or visit its website to find out what you need to do in your state.

Taking a Licensing Exam

As with other aspects of insurance licensing, specific instructions on how to register for your qualification exam are available from the insurance department. Ask for a licensing information bulletin or a licensing candidate handbook, which will describe where and when exams are given, the fees you must pay, and the testing procedures.

One thing all state insurance qualification exams have in common is that they are "closed book" exams. You will not be allowed to take any study materials or notes into the testing room. Even phones and calculators may not be allowed. In some states, the only items exam candidates are permitted to take into the testing room are their wallet and keys.

In most states, insurance qualification exams are given on computers. However, you will not need any computer or typing skills to take the exam. You will be instructed how to answer questions and given a short practice test to get comfortable with the equipment before the actual qualification exam begins.

When you complete a computer-administered exam, the software tells you immediately whether you've passed or failed. Your states will have rules for retesting in the event you don't pass. Those rules are described in your licensing information bulletin/candidate handbook.

How to Prepare for an Exam

Whether or not your state has a pre-licensing education requirement, you'll want to study in preparation for the license qualification exam. And even if your state has a pre-licensing education requirement, you'll probably want to do some additional studying to make sure that you are fully prepared for the exam. Your options for additional study include the following:

  • Self-study courses: Publishers such as BISYS Education Services offer courses designed to allow you to study on your own for the licensing qualification exam. BISYS license training packages are available in either web-based or print-based formats and contain a number of components:

    • A Property-Casualty Concepts text that covers all the non–state-specific topics on the licensing exam

    • Practice exams that help you evaluate your comprehension of the material in the Concepts text

    • Explanations to answers on the practice exams so that you'll know why each of your responses was right or wrong

    • A state insurance law digest that covers all the state-specific topics on the licensing exam

    • An optional audio CD review program that reviews the key information contained in the Concepts text

    • An optional exam simulator that gives you additional question-and-answer practice over the material covered in the Concepts text and the state insurance law digest

  • Classroom training: Many colleges and commercial training companies offer classroom training for insurance license exams. Although classroom training generally costs considerably more than self-study, some individuals find that they learn best in a classroom situation. And of course, in many states, the pre-licensing education requirement must be met with classroom study in any case.

  • Other sources: There's no shortage of materials available on insurance topics. Appendix B, "Need to Know More" will give you an idea of where we think you should look for further discussion.

In addition, Que Publishing's Exam Cram insurance licensing preparation materials are useful in your quest for insurance knowledge. Exam Cram books provide you with a review of the essential information you need to know to pass the tests. They focus the detailed information in the Concepts texts available from BISYS Education Services. Together, the BISYS Education Services license training packages and the Exam Cram review materials create a powerful exam preparation program.

This set of required and recommended materials represents an unparalleled collection of sources and resources for insurance licensing qualification and related topics. Our hope is you'll find that this book belongs in that company.

What This Book Will Not Do

This book by itself will not teach you everything you need to know to pass your insurance licensing exam. It does not cover the state-specific topics that appear on the exam, usually dealing with laws that apply only in your particular state. That information, although it represents a small proportion of the entire exam, is critical to passing the exam. State-specific topics are covered in the state insurance law digests available from BISYS Education Services. This book reviews the rest of what you need to know before you take the test, with the fundamental purpose dedicated to reviewing the non–state-specific information on the insurance licensing exam.

What This Book Is Designed to Do

This book uses a variety of teaching and memorization techniques to analyze the exam-related topics and to provide you with ways to input, index, and retrieve what you'll need to know in order to pass the test.

This book is designed to be read as a pointer to the areas of knowledge you will be tested on. In other words, you might want to read the book one time, just to get an insight into how comprehensive your knowledge of insurance is. The book is also designed to be read shortly before you go for the actual test and to give you a distillation of the topics covered by the exam in as few pages as possible. We think that you can use this book to get a sense of the underlying context of any topic in the chapters--or to skim read for Exam Alerts, bulleted points, summaries, and topic headings.

We've drawn on material from each state's exam outlines and from other preparation guides, in particular, BISYS Education Services' Property-Casualty Concepts text. Our aim is to walk you through the knowledge you will need--looking over your shoulder, so to speak--and point out those things that are important for the exam (Exam Alerts, practice questions, and so on).

We've tried to demystify insurance jargon, acronyms, terms, and concepts. Also, wherever we think you're likely to blur past an important concept, we've defined the assumptions and premises behind that concept.

About This Book

We've structured the topics in this book to build upon one another. Therefore, the topics covered in later chapters might refer to previous discussions in earlier chapters. We suggest that you read this book from front to back.

After you read the book, you can brush up on a certain area by using the Index or the Table of Contents to go straight to the topics and questions you want to reexamine. We've tried to use the headings and subheadings to provide outline information about each given topic. After you've passed the exam and obtained your insurance license, we think that you'll find this book useful as a tightly focused reference and an essential foundation of insurance information.

Chapter Formats

Each Exam Cram chapter follows a standard structure, along with graphical cues about especially important or useful material. The structure of a typical chapter is as follows:

  • Opening hotlists: Each chapter begins with lists of the terms you'll need to understand and the concepts you'll need to master before you can be fully conversant with the chapter's subject matter.

  • Topical coverage: After the opening hotlists, each chapter covers the topics related to the chapter's subject.

  • Alerts: Throughout the topical coverage section, we highlight material most likely to appear on the exam by using a special Exam Alert layout that looks like this:


  • Caution - This is what an Exam Alert looks like. An Exam Alert stresses concepts or terms that will most likely appear in one or more license exam questions. For that reason, we think any information found offset in Exam Alert format is worthy of unusual attentiveness on your part.

    Even if material isn't flagged as an Exam Alert, all the content in this book is associated in some way with test-related material. What appears in the chapter content is critical knowledge.

  • Notes: This book is an overall examination of entry-level insurance knowledge. As such, we'll touch on many aspects of insurance that open doors for further inquiry. Where a topic goes deeper than the scope of the book, we use notes to indicate areas of concern or further training.


  • Note - Cramming for an exam will get you through a test, but it won't make you a fully competent insurance professional. Although you can memorize just the facts you need in order to become licensed, your daily work in the field will rapidly put you in water over your head if you don't continue your insurance education.

  • Review questions: At the end of each chapter is a short list of test questions related to that chapter's topic. Each question has a following explanation of both correct and incorrect answers. The practice questions highlight the areas we found to be most important on the exam.

  • Need to Know More: On the CD-ROM is an appendix titled "Need To Know More." This appendix provides pointers to resources that we found to be helpful in offering further details on the book's subject matter. If you find resource you like in this collection, use it, but don't feel compelled to use all these resources. In this appendix, we recommend resources that we have used on a regular basis, so none of the recommendations will be a waste of your time or money. These resources might go out of print or be taken down (in the case of websites), so we've tried to reference widely accepted resources.

The bulk of the book follows this chapter structure, but there are a few other elements that we would like to point out:

  • Practice exams: The practice exams, which appear in Chapters 20 and 22 (with answer keys in Chapters 21 and 23), are intended to test your comprehension of the material in this book. They are also intended to be in a similar format and degree of difficulty as the questions you are likely to see on the license exam. However, because the questions on the actual exam are kept highly confidential, you should expect that the questions on the actual license exam will be ones that you have never seen before.

  • Quick Check answer keys: These provide the answers to the practice exams, complete with explanations of both the correct and incorrect responses.

  • Glossary: This is an extensive glossary of important terms used in this book.

  • The Cram Sheet: This appears as a tear-away sheet, inside the front cover of this Exam Cram book. It is a valuable tool that represents a collection of the most difficult-to-remember facts, terms, and concepts we think you should memorize before taking the test.

  • You might want to look at the Cram Sheet in your car or in the lobby of the testing center just before you walk into the testing center. The Cra divided under headings, so you can review the appropriate parts just before each test.

  • The CD: The CD contains the BISYS Education Services Exam Simulator, Preview Edition software. The Preview Edition exhibits most of the functionality of the commercially available version, but offers a reduced number of unit review questions and a 50-question practice exam. To get the complete set of practice questions and 100-question exam functionality, visit bisyseducation.com or call 1-800-241-9095.

Contacting the Source

We tried to create a real-world tool that you can use to prepare for and pass your state insurance licensing exam. We're interested in any feedback you would care to share about the book, especially if you have ideas about how we can improve it for future test takers. We'll carefully consider everything you say and will respond to all reasonable suggestions and comments. You can reach us via email at customerservice@bisys-education.com.

Let us know if you found this book to be helpful in your preparation efforts. We'd also like to know how you felt about your chances of passing the exam before you read the book and then after you read the book. Of course, we'd love to hear that you passed the exam--and even if you just want to share your triumph, we'd be happy to hear from you.

Thanks for choosing us as your license exam preparation coach, and enjoy the book. We wish you luck on the exam, but we know that if you read through all the chapters and work with the product, you won't need luck--you'll pass the test on the strength of real knowledge!

Read More Show Less

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  • Posted May 3, 2013

    Highly Recommended for those taking the test!!!!

    It’s a really good book to help you refresh and understand the material in a different, simple, perspective. It gives you lots of good information that you are going to use for the test. I would not recommend it as your primary source of study material, but more of an enhancer, refresher, to what you already know, learned, or are learning. Good book and well written.

    Was this review helpful? Yes  No   Report this review
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