Oct 3 2006, 10:48 PM
Friday, September 29th marked the first real step toward my launching my new business as a representative of Primerica Financial Services. I passed my Life Insurance Producer pre-licensing test.
I took the test in Wallingford, CT. It was a strictly-controlled computer-based test (they even make you remove all personal items from your pockets and put them in lockers before you enter the testing room). There is no score given, only pass or fail. I passed!
I did 5 hours of review the night before, just to make sure I’d get a good score. I knew most of the questions, although there were some worded in unusual ways that I had not seen on the practice exam or in class and home study materials, but they were few in number. There were 60 general questions and 40 state law questions on this test.
The next thing I did was to forward the results to my parent company. I still need to fill out the license application and mail the $75 fee to the CT Treasurer.
Only something like 19% of people who join Primerica pass their Life exam. So that puts me in the minority now. I’ll also have my mortgage license in a few weeks, so I’ll be ready to do real, commission-earning business in October! Yeah!!!
Had I had my license last month, I could have split a $2800 commission with an out of state agent seeking to write a mortgage in CT, even though I did no work to sell that client. There is nothing like the satisfaction of earning thousands of dollars in commissions on just an hour’s worth of paperwork filing a mortgage application. And that is but one small part of the business that I am entering. I’ll be selling life insurance, mortgages and, later on with additional licensing, securities. I am anxious to get on board this money train and run hard with it!