I am often asked, “What is the best way to study for the test?” Over the years, I have found the following tips helpful in passing an exam.
First of all, get a handle on the Scope of the test. There is absolutely no need to study things that are outside the parameters of the exam when you are beginning.
In this regard, the Insurance Licensing Candidate Handbook contains an outline of the current exam content. It is available from Promissor, Inc. at www.promissor.com
Next, keep your studying Focused. When you focus on the specific topics on the exam outline, then you are able to make sure you are covering all the necessary topics.
Focusing on the major points associated with each outline topic will keep you from chasing down rabbit trails that are not on the exam. Do not stray away from the actual exam material.
By all accounts, it helps to take a crash course from a reputable training center. In my seminar, we systematically go through the exam outline topic-by-topic. We learn those testing points that we know will be on the exam.
You will benefit by having the information presented to you in a formal manner where your focus
is solely on the exam content.
In the classroom, there are no distractions, no family to attend to, and no employer interrupting your study time. You have the entire day to focus on one thing: learning
enough to pass your exam the first time.
You are learning from someone who knows the material, knows the exam, and is an open book for any questions you may have.
Get a study buddy to help prepare. This can be someone at work who is currently studying or who has already passed the exam. Quiz each other. Try to stump the other person.
You can even hand the material to a family member who is not even in the business and say, “Here, quiz me!”
It seems that children especially take delight in trying to stump their parents. On the other hand they can also be very encouraging.
When you make a game of it, studying is much less stressful and more enjoyable.
The need for advance preparation seems to vary among students. Some students could read all the manuals ever written before coming to class and still not feel prepared. Others just register for the crash course. They use only the classroom materials and do just fine.
Reading the actual policies on which you will be tested is of great benefit if you have access to the current version as stated on the study outline. Although they are legal contracts written by lawyers, they contain many of the phrases and terms used by the exam writers.
As the exam has become more difficult, the trend has been toward more students reading
something before class to get over the initial hurdle of insurance terms and policy components.
It is easiest to read a study manual in bits-and-pieces rather than try to conquer a whole chapter or manual in a single marathon. Carry the manual with you and sneak-a-peek when you have those odd spare moments.
My favorite study manuals and CDs can be obtained from The Exam Simulator http://www.iowainsuranceseminar.com/redirect.php?page=cds
Now let’s talk about some tips for the exam itself.
First of all, review your fact sheet of difficult points to remember just before you go into the exam. Then write out a listing of these hard to remember testing points when you sit down at the computer and before you begin the exam.
Since the clock doesn’t start until you actually click the exam start button, the time spent writing out your crib sheet will not count against you. The testing center will provide a sheet of blank scratch paper to write down your key “things-to-remember”.
When taking the exam, you can allocate your time for each question any way you want to. You can spend 10 seconds or 10 minutes on a question. It doesn’t matter.
However, it is best to answer a question and mark it for review if you are uncertain. Do not agonize and fret over it. Take your best guess and move on. Come back later if you have time.
A good rule of thumb is “Do not change your answer” unless you clearly recognize a need for the change. Studies show that in the majority of cases students talk themselves out of the correct answer!
In any event, the last answer you mark will be your answer when time runs out or when you terminate the exam.
Another helpful hint is to read the stem of the question at least twice before looking at the possible answers. This helps to clearly understand the question.
If you just skim the question and then jump immediately to the answers, the answers begin to color your understanding of the actual question. Your mind reads things into the question that are not there and misses important words that are there.
And finally, watch out for key words such as: all, always, only, never, not, and of course the most despised multiple choice word “EXCEPT”.
Ideally, you should be well rested and prepared the day of the exam. It is most beneficial to have a good meal the night before and get a good night’s sleep. Follow your normal routine if possible.
Naturally in preparing for an exam, procrastination tends to take its’ toll. A late night cram session or pulling an all-nighter does little to help . . . unless you have done no advance study whatsoever!
I believe the best piece of advice is to continue to study right up to the minute you take the exam. You never know when you may learn that one last testing point that puts you in the pass column and into successful career.
Randall M. Costello, CMA, CPA has been teaching thousands of students to pass their insurance exams since 1986.
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