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Once the Design Document was in place, the regulators created exams that students would have to pass in order to be able to apply for certification to sell insurance. The exam originally was a 140 question five-answer multiple choice exam, with a heavy orientation towards case-study style multiple choice questions.
The test is four hours long, allows calculators, and is administered via a paper-and-pencil format. Multiple-choice questions account for 40% of the exam, and open-response questions account for 60% of the exam. Candidates may freely move between the two sections. The two sections are graded separately.
The CIC certification program was started by the National Alliance for Insurance Education & Research in Austin, Texas in 1969. [1] Some CIC courses can be used to fulfill state continuing education requirements for licensing as an insurance agent. [2] The CIC program is for agency owners, producers, agents, brokers, and agency and company ...
The exam is multiple choice and in 2012 the exam had a pass rate of 78.43%. A nominal pass mark is set at 70% although the actual pass mark may vary. [2] The test covers several areas of insurance: Understanding how the insurance market operates; Understanding risk and insurance in the context of the insurance market
Obtaining life insurance can feel like a complicated process, especially if the thought of a medical exam puts you off. The good news is you don’t always need an exam to get covered.
The Series 7 is a three-hour, forty-five-minute exam. [1] It is held in one four-hour session. There are 125 questions on the test. Candidates have to score at least 72% to pass. The SIE Exam and the Series 7 Exam are co-requisite exams. [9] Average study time is between 80 and 150 hours depending on current financial knowledge. [10]
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