Life Insurance Exam Review Pt. 2 Issuing policies, Uses of Life Insurance, Calculating Coverage

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[bananabread]

Hello, I am also writing in to tell you Thank you. I have taken the Life Insurance test 3 times in the last year and failed each time, very brutal and time consuming in the trenches, until I found your videos on youtube. I finally passed my forth attempt on Friday thanks to your video's and breaking it down for me. Thank you again.

[indyice]

I passed my exam after 3 weeks of studying/taking my ExamFM course. after the first week, I sought out videos like these and watched them every single day. Like mentioned in this video, I rode around playing this in my car.. no music, no podcast, not much tv, only this for 3 weeks. I wrote all my notes one time and told myself that I would rewrite them everyday but didn't (doing so would definitely help 100x more). instead I took a practice at least twice a day, I didn't end up passing until week 2. by the day before my exam the following week, I had achieved a practice test score of 87% and ended up passing my exam the next day with flying colors! it was honestly easier than the practice tests but I'll give it up to me putting in all the effort that I did.

Using acronyms for everything also helped me. as mentioned in the video, you are given scratch paper to write what ever you want, so I chose to use it for everything lol.. I think some of these were mentioned here, if not, from other videos on YT (I'm just coming back after I passed my exam to try to help whoever takes it). although it may sound funny, to follow is the phrase full of acronyms that I used to remember a lot of different life/health info; doing it in this order was easiest for me in terms of memorization because it always read like a phone number while still making somewhat sense as a sentence.. if that makes sense

B.I.G. F.A.M.O.U.S. C.E.R.M.M.IC.
L.O.C.A.L. S.T.A.R.R. D.I.A.L. C.L.I.F.F. W.E.L.L.S.F
R.E.C. W.A.S.H.
C.R.A.P.P.O W.A.G.C.A.P.A.
M.E.I A.E.I U/L A= ----
B= ^

B.I.G. F.A.M.O.U.S. C.E.R.M.M.IC. = provisions
L.O.C.A.L. = legal contract
S.T.A.R.R. = how to handle risk
D.I.A.L. = term insurance
W.E.L.L.S.F. = whole life insurance
R.E.C. = non-forfeitures
W.A.S.H. = exclusions
C.R.A.P.P.O = dividends
W.A.G.C.A.P.A. = riders
M.E.I = how to determine premium
A.E.I = agent authority
U/L = A = level death benefit B = increasing

Beneficiary designation (life only), Insuring clause, Grace period, Free look period, Assignments (life only), Modifications (life only), Owner's rights (life only), Unused premium, Suicide (life only), Consideration, Entire contract, Reinstatement, Mode, Misstatement of age/gender, Incontestability/Time limit on certain defenses, Common disaster (life only).

Legal competence, Offer, Consideration, Agreement, Legal purpose

Sharing, Transfer, Avoidance Reduction, Retention of risk

Decreasing, Increasing, Annual renewable, Level

Cash, Life income, Interest only, Fixed amount, Fixed period

Whole life/traditional/pure/all the same thing, Endowment, Limited pay, Limited period, Single premium, Family Income+Family Maintenance

Reduced paid up, Extended term, Cash

War/military, Aviation, Suicide, Hazardous occupation

Cash, Reduction of premium, Accumulation of interest, Paid up-addition, Paid up-option, One year term

Wavier of premium, Accidental death, Guaranteed insurability, Cost of living, Accidental death & dismemberment, Payor benefits, Additionally insured.

Mortality, Interest, Expense

Apparent, Implied, Expressed

hope it help! lets all get paid!!

[johnperdo]

For a few months now I have been searching tirelessly for information on how to start investing. I even payed $1000 for a course that I now regret. It appears that there is no structured guidiance for beginners on how to get started in this realm. I've come across several investors making well over $250k/annum and would be grateful if anyone on here could provide insights on how to get started, identify potential stocks, when to make an entry, exit etc.

[Jessilosesit]

I love it… “sounds dumb as hell… it’s legal” 😂 thank you so much for not being a robot. I can comprehend your teaching better than a robot.

[repete]

Passed my exam yesterday with the help of your videos. Thank you!

[danielleramos]

This helped me SO MUCH. I wish I'd found it sooner than the night before I took my exam, but either way, I passed!!! Thank you so much for this video. 💗🙏

[shayrenee]

I passed today on the first try and your videos were very helpful as a quick review before the test! Keep doing what you're doing. God bless!

[sherristine]

I just wanted to say thank you. I passed my life and health exam yesterday and I couldn’t have done it without your videos. You helped break it down where I could understand and pick back up with my Xcel training. Thank you so much ❤️

[Sandra-lyss]

Thank you, thank you!! I passed my test with an 82!🎉🎉🎉

[awemmerify]

You are such a smart and talented lady. Thank you for being here for us! Highly recommend your channel😊

[DanielleRenee]

Your videos are SOO helpful. Online learning at home with my 2 yr old has been headache inducing but your videos help so much!! THANK YOU!

[Brishai.]

Bless your heart for making these videos with easy to remember examples!!

[chrisnegley]

Thank you for making these videos. I started my journey using the education website my eventual firm has provided me with, xcel solutions, and while they have great information and structure to the course there is nothing like learning from somebody you feel comfortable listening to. It makes it feel like much less of a chore through your content so I am grateful! I take my test in a couple of days, hopefully it goes well but nonetheless you have helped the ideas stick! Thank you!

[thelifeofshonterica]

Thank you so much! I take my state exam Tuesday morning!!! 🙏🏾🙏🏾🙏🏾

[natashau]

You are a inspirational person! Thank you so much for taking the time to educate people and make a difference! I passed my test today with the help of your videos! So excited!!! Ready and excited to make a difference in people’s life’s!

[wilamina]

Your videos helped me pass the 2nd time. God bless you! Thanks for this gem 💎

[ccashley]

Thank you so much. I’m getting ready to take my state exam. Up to this point I was just memorizing everything. I didn’t understand what I was reading.
Thank you, thank you, thank you

[linhrealestate]

Thank you so much. Your voice was in my head in the exam room . I passed the exam.

[jlucio]

Hello Tyra .. thank you for making this insurance study guide so pleasant and using your example to made terms easy to remember.. the words …ALRRRRIGHT thank you so much .. you’re blessing🙏🌈

[sydneyblair]

Thank you for this video. I am a recent college graduate and previously terminated from my job due to covid reasons. I've applied to a financial firm and I have a very novice level experience with this profession. Im required to take this exam upon employment IF I am hired. I didn't know where to start but this is a good guide and I feel a little less anxious now. Sending good energies to everyone 🐢🧡