Life Insurance License Exam Notes Pt. 1

Part 1: Risk, Loss, Indemnity... Basics

I also have a course for the SIE! Course Website:

[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!!

[piotrs.]

I passed my exam and these are the things that helped me the most:

1. Write everything down at least once.
2. Separate chapters and study one chapter at the time.
3. Memorize all aspects that involve a number (30 days, 3 days, 3 years, 2 weeks, etc.)
4. On top of memorizing everything, have a basic understanding of how things work in general. Example: what kind of insurance would be the cheapest. Which kind of annuity is the riskiest.

My overall experience was that the exam was easier than I expected.

Good luck to all of you! You got this, just believe in yourself!

[Annettecrist]

I have listen to you for almost 3 mths on repeat so I can be ready for life insurance exam. Today I finally took my test and I Passed because of you. Thank you 😊

[jai]

Took the Life/Health exam today in Cali and PASSED FIRST TESTING!!!! To everyone striving to reach this goal continue to take the proper steps and the rest WILL ALIGN !! You ALL are more than capable of accomplishing this state exam. BELIEVE IT RECEIVE IT and ACHIEVE IT. HAPPY NEW YEAR EVERYONE lets get after it squad !! 👏🙏🙌

[Newworld-gkus]

Just finished taking my Life & Annuities test, I passed my test by watching this video.

[BreBooth]

Passed my exam today with an 82 because of your videos. Thank You ❤

[susanmorrison]

To pass a life and health insurance exam, you will need to have broad knowledge of insurance concepts, policy types, taxes and federal regulations, not to mention the insurance laws in your state

[vincere]

I studied for this exam in 4 days and did the entire course work and when I took the exam on the 5th day I got a 69. Came on YouTube watched your videos ma for another 4 days and retook the exam and I passed. Your videos helped simplified a lot of areas that I considered challenging for me..thank you so much this video helped me..

[johnhicks]

Just want to say thank you for this post. I found it just before i drove to take my exam and it helped keep me fresh and was inspiring. I passed. 😃

[govindasubedi]

Thank you for teaching us from you tube! I’ve scored 86 % on my first attempt.

[christianhabimana]

thank you so much I have passed with 75 after watching your videos and reading your note just all that in one night may God bless you.

[yddunyi]

I am so thankful for you!! I passed the exam on Wednesday January 3rd, 2024 on my first attempt!!

[adrienbibb]

This is great information!!!! i have taken the test once and failed by about 10 questions. BC of your videos i am alot more confident! will come back to thank you when i pass!

[Poker]

I’ve been watching your videos all throughout studying and now I’m listening to this video in the car on the way to my exam! I’ll update this comment if I pass!

Update: I PASSED!!! I wouldn’t have been able to do it without your videos. Thank you so much! Now onto my SIE!

[jamesascencio]

I had failed my exam 5-17-22
I came across your videos 5-24-22 and passed my exam 5-25-22. I listened to you on my way up to take my exam which was a hour and 10 minute drive.. You definitely helped me understand the concept for sure. Thank you 🙏🏼🙏🏼🙏🏼🙏🏼

[katrinacurrie]

I see the Part 2 and more now... You have such a calming spirit and make the concepts very relatable and easy to understand. Such a good educator. I am a realtor too... I certainly see you impacting lives as a purpose filled woman... God Bless you!!

[Toni-gfch]

Hello, I passed the licensing exam two years ago. I meant to share this before now but it has been a very busy time. Your videos and information along with some others were beneficial. The things I heard from you helped me a lot. I also watched other videos. I passed it the first time. Thank you.

[dannypadilla]

Thank you. I’m so frustrated with examFx. You are a breath of FRESH AIR.. lovely, clear and smooth in your delivery. You are helping this to feel real as opposed to a bunch of definitions.
-That was just a fancy way of sayin’: YOU ARE SAVING MY BUTT😊

[victoriafisher]

I passed my exam, thank you so much for taking the time out to share your notes with us. This really helps the mist of my study. I also watched your videos to understand what it was that I was studying.

[dorismorrison]

God bless you Woman of God! I watched your videos and they were so clear, professional and articulate! I read and studied but with your videos it became clearer to me! I passed my exam this morning! Praise God! I’m so proud of you!