There’s a big difference between exam prep products and Pre-Licensing Education. In the insurance industry, many states are “exam prep” states. That means you just have to pass the licensing exam in a proctored test center and a “certificate of completion” is not required.
To be clear, both approaches require test takers’ commitment and study in order to pass the required exam. Exam Prep is most often done online and takes two primary forms. The first form is the most simple, an online practice exam. No education or training, just, “here are the type of questions you’ll see on the exam” This is often called a “Test Bank” or QBank.
The second, more common form, is an online on-demand, live webinar, or live online class specific to the registration or license the vet is pursuing. FINRA exams are a great example of this. FINRA doesn’t care how you learned enough about securities to pass the exam. They just want to see that you understand the terms, concepts, and most importantly; making suitable recommendations.
Pre-Licensing is also commonly done online. Very few in person prelicensing courses exist in insurance. Real Estate Pre-Licensing is huge and was traditionally required to be done in person. That means there are still quite a few options for those looking for a more traditional education experience. In the insurance industry, 20 states require actual pre-licensing courses and a “certificate of completion”. The remainder of the states just need you to pass the exam.
Hope you’ve found value in reading this, Hooah! – Wendt
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