Ready, Set, Pass – Study Guide

A Guide to Conquering Your Entry-Level Insurance Exam

Mastering Multiple Choice

Smart Exam Tactics - Multiple choice exams test more than your knowledge—they assess your ability to read and think critically. Here’s how to level up your exam strategy:

Read questions thoroughly. Rushing can lead to misreading key points.
Think before you answer. Formulate your answer mentally before checking the available options.
Examine every option. Even if one answer stands out, review all choices.
Spot the traps. Watch for choices with absolutes like “always” or “never.”
Eliminate in stages. First, eliminate the obviously wrong choices; then compare the remaining ones.
Don’t overthink. Trust your instincts - select your answer and move on.
Mind the clock. Using smart time management - 100 questions in 3 hours translate to about 1 minute and 48 seconds per question. Aim for about 1.5 minutes per question.
Budget for Review Time. Ensure you end with about 10–15 minutes to review your answers, double-check flagged questions, and clear up any uncertainties
Answer every question. There’s no penalty for guessing; unanswered questions are automatic zeros. Trust your judgement and make an educated choice.
Stick with your initial answer. Ensure you did not misread the question; your first answer is usually the correct one.
If stumped, skip and circle back. Use the “Two-Pass” Rule - Pass 1: Complete questions you know. Pass 2: Revisit flagged questions. Trust your preparation!
Protect your focus. Use scrap paper to cover the answers while reading the question when possible then use tip#2.
Underline keywords. Highlight words like “not,” “except,” or “always” that change the meaning of the question.
Be extra careful with formats. “Pick the exception” or “All of the above” might need a second look.
Take Mini Breaks or Short Pauses: Every 30–40 questions, take a brief breath or a sip of water to reset your focus.

Study Smarter, Your Way

Everyone learns differently. Which way do you find is beneficial to learn - Find your best method with these adapted strategies:

The Memorizer – You benefit from constant repetition. Best Approach: Use Chapter Checkpoints—aim to get each one right three times in a row before moving on.

The Writer - For you, writing strengthens your knowledge. Best Approach: Work on the Study Guide and take handwritten notes to help the material stick.

The Conceptual Thinker - You need to understand the “why” behind the facts. Best Approach: Teach the material to someone else. Explaining concepts in your own words reinforces your understanding.

The Real-Life Connector - You connect best when the material relates to real situations. Best Approach: Ask colleagues or mentors for examples from real-life scenarios to illustrate key concepts.

The Winger - Winging it can be risky due to the comprehensive nature of the material, and is not recommended.

Key Tip: Your environment can reinforce what you’re studying—turn everyday spaces into learning opportunities.

Create visual reminders: Place sticky notes with key definitions, acronyms or concepts on your mirrors, doors, fridge, bedside table, or even your computer monitor.
Make review posters: Use large poster paper from a dollar store, using color and images, to highlight summary points.
Utilize a whiteboard: Jot down and test your recall by sketching out outlines of important concepts.
Have fun with it: The more appealing your study environment, the more naturally the information will stick.

Exam-Day Checklist

Use this checklist the night before, the morning of, and during your exam to keep everything on track.

Night Before

Review Key Concepts: Go over important points—not every single detail.
Set Alarm(s): Ensure you wake up on time.
Gather All Materials: Pens, pencils, and water.
Check Exam Details: Review the exam location or log-in details.
Rest Up: Aim for 7+ hours of quality sleep.

Morning Of

Healthy Breakfast: Eat something light and nutritious. It's a long exam and hungry minds can't focus.
Arrive Early: Get there or log in 15–30 minutes ahead of time.
Do a Quick Review: Look over key terms or acronyms—but avoid cramming.
Calm Your Nerves: Take a few deep breaths to start calmly. You got this!

During the Exam

Stick to Your Time Budget: Approximately 1.5 minutes per question.
Flag Difficult Questions: Mark and revisit later.
Use Provided Tools: Use scrap paper for calculations or to cover answer choices if needed.
Stay Hydrated: Keep water handy.
Save Time for Review: Aim to leave 10–15 minutes at the end for a final check.

After the Exam

Don’t dwell on what went wrong — reflect constructively.
Celebrate completing your first insurance exam!
Use the experience to improve for next time.
Celebrate Your Effort: No matter the outcome, recognize your hard work!

Pre-Exam Preparation

Study Key Insurance Vocabulary

Make a personal glossary of common insurance terms (e.g., deductible, endorsement, underwriting).
Create flashcards with definitions in both English and your first language.

Focus on Concepts, Not Just Words

Understand what the policy or regulation does, not just what the words mean.
Review summaries of key topics—visuals can aid understanding.

Practice with Multiple Choice Questions

Simulate exams using practice tests.
Review not only what you got wrong, but why you chose the wrong answer.

Translate Terms

Use an insurance glossary in both English and translate into your first language for a complete comprehension.
Avoid relying too much on translation apps during study—they often miss context in insurance wording.

Fundamentals of Insurance Exam – Tips for English Second Language Writers

Focus on Core Topics

These show up often on the exam:

Basic insurance terms (risk, peril, hazard, indemnity)
Types of insurance (property vs. liability)
Policy structure (declarations, insuring agreement, conditions, exclusions)
Personal lines basics (Homeowners, Tenants, Auto)
Roles in insurance (broker vs. insurer vs. underwriter)

Use simple explanations and examples to understand each. Try to explain terms to a friend in plain language—it helps lock in your knowledge.

Be careful with similar-looking answers.

One might be too extreme (e.g., uses “always” or “never”).
Another may use correct language but apply it to the wrong context.

Don't be intimidated by insurance wordings.

Insurance language is formal. Don’t get discouraged.
Break long sentences into parts, then look at what it’s really asking. Example:
“Which of the following is not a function of an insurance broker?”
- Focus on “not” and then list what brokers do, so you spot the one they don’t

Don’t overthink the English.

Choose the answer that is most correct, not the one that sounds best in English.
Think of the logic of the question — e.g., if a person burns their own property, would insurance still cover it?

Language Tips

Learn the 'tone' of the exam.
Questions usually test your understanding, not try to trick you. If an answer seems “too easy,” it may still be right!
Look for keywords.
Example: “legal liability,” “policy limit,” “actual cash value” — know what each means.

Practice in English

Practice questions in English — get used to seeing the terms.
Say answers or terms out loud. This helps with memorization and comfort.

Confidence & Mindset

Many pass this exam even if English is their second or third language.
It’s okay if you don’t know every word. Use logic and what you studied.

Build Exam Confidence

Do timed mock exams to get used to pressure.
Read and summarize practice questions out loud — this helps with understanding and memory.

Try Language Tricks

A common trick is using acronyms.
You can create a language trick that is in your first language, which could make studying a little easier.
Record yourself explaining definitions and concepts in both English and your first language to further deepen your knowledge. Fit in extra studying by playing back the recordings while you’re in the car, cooking dinner or commuting to and from work.

Ask for Help

You don’t have to study by yourself. Find a study buddy or group that you can meet up with on a regular basis. Study partners can help you figure out what you know and what you still need to work on. If their English is strong, they can research and explain concepts that don’t translate very easily.