Rhode Island Life and Health Insurance Exam
Need of a License: An individual who is acting as an agent or producer needs a license to sell life and health insurance in Rhode Island.Who Grants a License: Licenses are granted by the Rhode Island Department of Business Regulation.
Qualifications to receive a License: Individuals who wish to obtain an insurance license in the State of Rhode Island:
1. Be at least eighteen (18) years of age.
2. Be a resident of the state.
3. Make a reservation and pay fee.
4. Pass the examination.
5. Apply for a license.
Applying for the Producer Exam: It is highly recommended that the Rhode Island Insurance Licensing Candidate Handbook be reviewed, and special attention be given to the content outlines (available at www.pearsonvue.com), before taking an examination.
The State of Rhode Island utilizes Pearson VUE to develop and administer its insurance licensing examination program. Pearson VUE is a leading provider of assessment services to regulatory agencies and national associations. Online reservations are the most efficient way for candidates to schedule their examination. Candidates must go to www.pearsonvue.com/ri/insurance to make an online reservation for an examination. Candidates may call (866) 274-3739 to make an exam reservation by phone.
Test Information: When candidates complete the examination, they will receive a score report marked “pass” or “fail”. Candidates who pass the examination will receive a score report that includes information on how to apply for a license. The passing scaled score is 70. Each examination is based on a detailed content outline of topics, subtopics, and references to applicable state laws, statutes and regulations. The Rhode Island Insurance Licensing Candidate Handbook contains specific content information beyond the following general outlines:
LIFE – GENERAL KNOWLEDGE CONTENT (50 scoreable questions plus 10 pretest questions)
I. TYPES OF POLICIES (12)
A. Traditional whole life products
B. Interest/market-sensitive life products
C. Term life
D. Annuities
E. Combination plans and variations
II. POLICY RIDERS, PROVISIONS, OPTIONS, AND EXCLUSIONS (19)
A. Policy riders
B. Policy provisions and options
C. Policy exclusions
III. COMPLETING THE APPLICATION, UNDERWRITING, AND DELIVERING THE POLICY (11)
A. Completing the application
B. Underwriting
C. Delivering the policy
IV. TAXES, RETIREMENT, AND OTHER INSURANCE CONCEPTS (8)
A. Third-party ownership
B. Group life insurance
C. Retirement plans
D. Life insurance needs analysis/suitability
E. Social Security benefits and taxes
F. Tax treatment of insurance premiums, proceeds, and dividends
RHODE ISLAND-SPECIFIC LIFE CONTENT OUTLINE - State, Statutes, Rules and Regulations
(30 scoreable questions plus 5 pretest questions)
I. RHODE ISLAND LAWS, RULES, AND REGULATIONS COMMON TO LIFE, ACCIDENT AND
HEALTH INSURANCE
A. Commissioner
B. Definitions
C. Licensing
D. Marketing practices
E. Fiduciary
F. Life and Health Guaranty Association
II. RHODE ISLAND LAWS, RULES, AND REGULATIONS PERTINENT TO LIFE INSURANCE AND ANNUITIES ONLY
A. Marketing methods and practices
B. Policy clauses and provisions
C. Interest on life insurance proceeds
D. Insurable interest
ACCIDENT & HEALTH – GENERAL KNOWLEDGE CONTENT (50 scoreable questions plus 10 pretest questions)
I. TYPES OF POLICIES (14)
A. Disability income
B. Accidental death and dismemberment
C. Medical expense insurance
D. Medicare supplement policies
E. Group insurance
F. Long Term Care (LTC)
G. Limited Benefit Plans
II. POLICY PROVISIONS, CLAUSES, AND RIDERS (20)
A. Mandatory provisions
B. Optional provisions
C. Other provisions and clauses
D. Riders
E. Rights of renewability
III. SOCIAL INSURANCE (3)
A. Medicare
B. Medicaid
C. Social Security benefits
IV. OTHER INSURANCE CONCEPTS (4)
A. Total, partial, and residual disability
B. Owner’s rights
C. Dependent children benefits
D. Primary and contingent beneficiaries
E. Modes of premium payments
F. Nonduplication and coordination of benefits
G. Occupational vs. non-occupational
H. Tax treatment of premiums and proceeds of insurance contracts
I. Managed care
J. Workers Compensation
K. Subrogation
V. FIELD UNDERWRITING PROCEDURES (9)
A. Completing application and obtaining necessary signatures
B. Explaining sources of insurability information
C. Initial premium payment and receipt and consequences of the receipt
D. Submitting application (and initial premium if collected) to company for underwriting
E. Ensuring delivery of policy and related documents to client
F. Explaining policy and its provisions, riders, exclusions, and ratings to clients
G. Replacement
H. Contract law
RHODE ISLAND-SPECIFIC ACCIDENT AND HEALTH CONTENT OUTLINE ACCIDENT & HEALTH
State Statutes, Rules and Regulations (30 scoreable questions plus 5 pretest questions)
I. RHODE ISLAND LAWS, RULES, AND REGULATIONS COMMON TO LIFE, ACCIDENT AND HEALTH INSURANCE
A. Commissioner/Director
B. Definitions
C. Licensing
D. Marketing practices
E. Fiduciary responsibilities
F. Life and Health Guaranty Association
II. RHODE ISLAND LAWS, RULES, AND REGULATIONS PERTINENT TO ACCIDENT AND
HEALTH INSURANCE ONLY
A. Mandated benefits
B. Coordination of benefits
C. Health Maintenance Organizations (HMO)
D. Legal services insurance
E. Advertising
F. Disclosure
G. Long term care insurance
H. Medicare supplement insurance
I. Small Employer Health Insurance
How to Apply for the License: Specific licensing information is available from www.nipr.com.
State Licensing Information:
Rhode Island Department of Business Regulation
Insurance Division
1511 Pontiac Avenue, Bldg. 69-2
Cranston, RI 02920
(401) 462-9520
www.dbr.ri.gov
Pearson VUE Licensing Information:
Pearson VUE
Rhode Island Insurance
Attn: Regulatory Program
5601 Green Valley Dr.
Bloomington, MN 55437
(800) 274-3739
License Renewal Requirements: Individual Producer licenses must be renewed every two years and there is a continuing education requirement.
Applicable Regulations: Life and health insurance agents in Rhode Island are regulated by the Rhode Island Department of Business Regulation.
For more information on life and health insurance agent licensing and exam preparation, go to Tests.com’s Life and Health Insurance Exam Guide.
And take Tests.com’s free Life and Health Insurance Agent Practice Test.
For life and health insurance agent exam preparation products, such as study guides, flashcards and courses, go to Tests.com’s Life and Health Insurance Sales Exam listings.
