South Dakota 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 South Dakota.

Who Grants a License: Licenses are granted by the South Dakota Department of Labor and Regulation.

Qualifications to receive a License: Individuals who wish to obtain an insurance license in the State of South Dakota:
 
1. Be at least eighteen (18) years of age.
2. Be a resident of South Dakota.
3. Pay fees and pass the examination.
5. Apply for a license.

Applying for the Producer Exam:  Examinations are administered by the independent testing service, PearsonVue. Registration and examination information can be found in the Candidate Handbook, which should be reviewed thoroughly prior to registering for the exam. To register and schedule an exam online, go to https://home.pearsonvue.com/sd/insurance. You may also register and schedule your examination by phone or fax. Please see the Candidate Handbook for further details. Direct all questions and requests for information about exams to:

Pearson VUE
Attn: Regulatory Program
5601 Green Valley Dr.
Bloomington, MN 55437
888-204-6256

Test Information: Each exam will cover the South Dakota statutes and general principles sections, as well as the specific content for each line. Be sure to review the appropriate exam content outline to determine what topics are covered in the comprehensive exams. At the end of your exam, your score will be shown on the screen and you will receive a printed score report. The Candidate Handbook contains specific content information beyond the following general outlines:
 
South Dakota Life, Accident, and Health Insurance Agent Examination
Series 10-45 (150 questions – 2.5 hour time limit)
1.0 Insurance Regulation 6%
1.1 Licensing
1.2 State regulation
1.3 Federal regulation
2.0 General Insurance 6%
2.1 Concepts
2.2 Insurers
2.3 Agents and general rules of agency
2.4 Contracts
3.0 Life Insurance Basics 9%
3.1 Insurable interest
3.2 Personal uses of life insurance
3.3 Determining amount of personal life insurance
3.4 Classes of life insurance policies
3.5 Premiums
3.6 Producer responsibilities
3.7 Individual underwriting by the insurer
4.0 Life Insurance Policies 8%
4.1 Term life insurance
4.2 Whole life insurance
4.3 Flexible premium policies
4.4 Specialized policies
4.5 Group life insurance
4.6 Credit life insurance
5.0 Life Insurance Policy Provisions, Options and Riders 6%
5.1 Common provisions
5.2 Beneficiaries
5.3 Settlement options
5.4 Nonforfeiture options
5.5 Policy loan and withdrawal options
5.6 Dividend options
5.7 Disability riders
5.8 Accelerated (living) benefit provisions/riders
5.9 Riders covering additional insureds
5.10 Riders affecting the death benefit amount
6.0 Annuities11%
6.1 Annuity principles and concepts
6.2 Immediate versus deferred annuities
6.3 Annuity (benefit) payment options
6.4 Annuity products
6.5 Personal Uses of annuities
7.0 Federal Tax Considerations for Life Insurance and Annuities 6%
7.1 Taxation of personal life insurance
7.2 Modified endowment contracts (MECs)
7.3 Taxation of non-qualified annuities
7.4 Taxation of individual retirement plans
7.5 Rollovers and transfers (IRAs and qualified plans)
7.6 Section 1035 exchanges
8.0 Qualified Plans 3%
8.1 General requirements
8.2 Federal tax considerations
8.3 Plan types, characteristics and purchasers
9.0 Health Insurance Basics 7%
9.1 Definitions of perils
9.2 Principal types of losses and benefits
9.3 Classes of health insurance policies
9.4 Limited policies
9.5 Common exclusions from coverage
9.6 Producer responsibilities in individual health insurance
9.7 Individual underwriting by the insurer
9.8 Considerations in replacing health insurance
10.0 Individual Health Insurance Policy General Provisions 7%
10.1 Required provisions
10.2 Other provisions
10.3 Other general provisions
11.0 Disability Income and Related Insurance 5%
11.1 Qualifying for disability benefits
11.2 Individual disability income insurance
11.3 Unique aspects of individual disability underwriting
11.4 Group disability income insurance
11.5 Business disability insurance
11.6 Social Security disability
11.7 Workers compensation
12.0 Medical Plans 7%
12.1 Medical plan concepts
12.2 Types of providers and plans
12.3 Cost containment in health care delivery
12.4 South Dakota mandated benefits (individual and group)
12.5 HIPAA (Health Insurance Portability and Accountability Act) requirements
12.6 PPACA (Patient Protection and Affordable Care Act)
13.0 Group Health Insurance 7%
13.1 Characteristics of group insurance
13.2 Types of eligible groups
13.3 Marketing considerations
13.4 Employer group health insurance
13.5 Small employer medical plans
14.0 Dental Insurance 2%
14.1 Categories of dental treatment
14.2 Indemnity plans
14.3 Employer group dental expense
15.0 Insurance for Senior Citizens and Special Needs Individuals 9%
15.1 Medicare
15.2 Medicare supplements
15.3 Other options for individuals with Medicare
15.4 Long-term care (LTC) insurance
16.0 Federal Tax Considerations for Health Insurance 1%
16.1 Personally-owned health insurance
16.2 Employer group health insurance
16.3 Medical expense coverage for
sole proprietors and partners
 
Applying for the License: After passing your exam, you should apply for your license electronically online with Sircon at www.sircon.com/southdakota. After the Division has verified that you have passed the required exam and that you have nothing in your background that should prohibit you from being licensed, the Division will issue the appropriate license. After your license is issued, you will be able to print the license on Sircon. You must submit your license application within 180 days of passing the exam. For further details, please see the Candidate Handbook.
 
Direct additional questions about licensure to:
 
South Dakota Division of Insurance
445 East Capitol Avenue
Pierre, SD 57501-3185
Phone: 605.773.3513
Email: terra.zeller@state.sd.us
Web site: www.dlr.sd.gov/insurance
 
License Renewal Requirements: Renewals of Individual Producer licenses are every two years, and there is a continuing education requirement.

Applicable Regulations: Life and health insurance agents in South Dakota are regulated by the South Dakota Insurance Department.
 

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.