How to Acquire Your United States Insurance License Renewal Quickly and Easily March 12th, 2015

Renewing your United States insurance license may require different processes depending on where your license was originally obtained. You must follow each state’s rules and regulations in order to initiate the process of acquiring a United States insurance license. To easily renew your insurance license, be sure to visit the department of financial services designated by your state. Comply with any changes or additions to existing or new laws and regulations for your area. To avoid penalties, make sure to make note of when your insurance license is due to expire and your recommended renewal date.

Check the Requirements of Your State

United States license renewal processes will vary state to state. For the most accurate information, visit your preferred state’s department of financial services to brush up on renewal requirements. Some states will require fingerprints whereas others may request an affidavit of citizenship. Failure to comply with the needs of your state’s department of financial services may result in a longer insurance license renewal process. It is important to be fully prepared in order to renew your license in a timely manner.

Understand Any and All Changes Regarding Laws or Regulations

State laws and regulations typically vary from state to state, so it is important to ensure that you request the full guidelines from each state department so that you can complete all necessary steps in the renewal process. As each state has their own set of laws, you must check for any changes or additions for a swift renewal of your license. It would be in your best interest to check for any continuing education credit requirements well before your renewal date.

Be Mindful of Renewal and Possible Expiration Penalties

Once your license has been issued, mark your calendar on specific dates for preparation of any required continuing education credits needed for renewal. It is imperative to avoid allowing your license to lapse due to falling out of compliance.

Top 5 Life Insurance Online Tips for Students March 5th, 2015

Are you looking to make the most of your online life insurance course experience? These helpful tips will answer questions and point you in the direction of your true career path. Understanding is the first step to success, so decide where you would like to begin based on your previous achievements from core and focused courses. Utilizing the skills you’ve learned during your online insurance training program will help you create the foundation for future success in the always-flourishing life insurance and risk management industry.

#1 Understanding Prerequisites

There are a few different degree options for those looking for a career in insurance. The levels of degrees are: Associates, Bachelors, Masters and Doctor of Philosophy. Learn the differences between what each degree offers you and decide if you will choose to extend your schooling to reach a particular level.

To get started in the insurance industry sooner, you could take an online examination preparation course. which would train you to pass the entrance examination. Once you’ve gotten licensed, your agency would help you learn the rest of the necessary information pertaining to your field while on the job.

#2 Take Your Time Learning the Basics

One benefit of taking online insurance classes is that you have the ability to absorb information on your own time without having to sit at a desk in a stale classroom. Make the most of your time by choosing to learn at your own pace to ensure the best retention of information.

#3 Utilize Any Available Online Coaching

Most online insurance courses will offer online coaching. This is usually provided by a real-life mentor, not a pre-recorded voice file nor instructional video. Ask real questions to a real person and receive real, helpful, and timely answers from industry professionals.

#4 Practice Makes Perfect

Train as often as you can with the information you have to work with. Quizzes should be available to you at all times, and you should be able to take them as many times as you like. Keep a logbook or use an online tool to record your most frequently missed questions in order to continue progressing in those particular areas.

#5 Choose Your Career Path

With several different career paths to choose from, be sure to evaluate the benefits and drawbacks of each professional position to decide which is best for you. You may find that you fit better as a billing specialist rather than an actuary assistant, for example.

How Life Insurance Online Classes Can Prepare You for a Great Career in the Industry February 26th, 2015

Life insurance online classes can help to better prepare you for your future career in the financial world. With online classes, you can equip yourself to sell policies to companies and individuals as well as groups. Online classes give you better visualization with new, top-of-the-line training aids available to you when and where you need them.

Experience State-Specific Online Classes Relevant to Your Region

There are different rules for different regions. State-specific online classes  allow your studies to be applicable to the needs of the people within your region. Studying the needs of your local environment will prevent you from filling your head with irrelevant laws and regulations. Focus your time by studying more about the elements that are of utmost importance to your future clients.

Online Classes Are Fast and Flexible with the Latest Web Technologies

Excellent hands-on materials for slow learners are now available to help with memory and retention. With pre-licensing training courses, you can better prepare yourself for success. Life insurance online classes offer the latest web technologies to provide a helpful, more interactive visual learning experience. Learn at your own speed in the learning environment that is best for you.

Becoming a life insurance sales professional is now an easily obtained goal with the help of online classes. Award yourself the flexibility and benefits that come with taking online classes by registering for classes online. With life insurance online classes, you give yourself the opportunity of a lifetime to create a great career in the industry without having to sacrifice extra time out of your already busy daily schedule to attend inconvenient live classes.

3 Reasons to Take Life Insurance Online Classes February 19th, 2015

Getting mentally prepared to take life-changing exams can be a nerve-racking experience! By taking life insurance online classes, you will be able to take advantage of these three essential benefits while preparing for your exams:

#1. Learn the Material on Your Own Time, from Anywhere in the World

Study at your own pace without the anxiety of the classroom, and feel confident with the knowledge you obtain. One of the greatest benefits of online learning is the ability to learn in your own way on your own time. With online courses, you never have to be embarrassed to ask for assistance in a classroom again! If offered, be sure to take advantage of live coaching from real mentors via an online streaming webinar to guide you along the way.

#2. Chip Away at Your Classes and Learn the Basics in as Little as 3 Weeks

With online life insurance courses. you can obtain the basic knowledge necessary to help you reach your educational goals. Pull ahead of the rest with 24/7 access to all of your course materials, easily accessible from the comfort of your own couch or the nearest beach.

#3. Track Your Progress Every Step of the Way with Online Tracking Tools

A special perk that comes with taking online life insurance courses is that you can easily track your progress at anytime, anywhere. Stay on top of your achievements by logging in to your account from your laptop, smart phone, or tablet to quickly monitor and review your online progress report.

Remember, practice makes perfect. With online courses, you can practice as little or as much as you want from the comfort of your own couch, home office, or local café. Stay ahead of the curve with helpful progress tracking, live coaching from experienced mentors, and comprehensive study materials. You’ll learn the basics in no time!

What You Should Know About Series 63 August 15th, 2014

Posted on August 15th, 2014 as General information

Many may want to know more about the Series 63 exam. since it is required by all but a handful of states to be taken by those seeking positions as professionals in the financial investment industry. Unless those seeking licensing for the sale of investment products live in Florida, New Jersey, Colorado, Maine, Louisiana, Ohio, Maryland, Vermont, Puerto Rico or the District of Columbia, a passing score of the Series 63 test is required before a license is approved.

Passing and obtaining a Series 63 license demonstrates that the candidate receiving it has basic knowledge and understanding of the laws and regulations of the state in which they take the Series 63 exam as outlined under the Uniform Securities Act. It should be noted that many of the top brokerage firms also require the passing of the Series 66 test and financial advisors are expected to pass the Series 7 exam in addition to the Series 63.

Series 63 Organizations

Series 63, as well as other Series exams, have been prepared by the NASAA (North American Securities Administrators Association) and are all administered by the FINRA (Financial Industry Regulatory Authority), which was previously known as the NASD, or National Association of Securities Dealers. The purpose of the Series 63 test, as well as other similar exams, is to provide harmonization and standardization of security regulations and laws between all participating states across the nation, as outlined under the 1956 Uniform Securities Act legislation.

Series 63 contains 60 multiple choice questions and 5 questions which are considered experimental and are used to help sculpt future exams. Only the 60 standard questions are considered in determining the overall score which requires a 72 percent or above to pass and equates to 43 of 60 correct Series 63 exam answers. Candidates do not know which of the five questions are experimental.

The Series 63 test is scheduled within a 120-day window upon registration with the FINRA and payment of the $115 fee. It is recommended that candidates wanting to take the Series 63 test prep for it via independent study and/or by using the Series 63 study guide. If the candidate fails the exam the first or second time, they will be required to wait 30 days before retaking it. If a candidate doesn’t obtain a passing grade by the third try or beyond, they will be required to wait at least 180 days before trying to get their Series 63 license again.

Written by Theme Admin in: General information | Tags:

Series 63 Study Tips August 12th, 2014

Posted on August 12th, 2014 as General information

In most states, it is a requirement for those seeking licensing in the financial securities industry to first pass the Series 63. Developed by the North American Securities Administrators Association, a Series 63 license reveals to securities brokerage firms and agencies that the holder has at least a minimum knowledge of the regulations and legalities of security sales in the state of issue, as well as an understanding of ethical obligations and practices governing financial investments.

Since a Series 63 license is required in order to sell securities in most states, it is extremely important that the Series 63 test is passed. Although the Series 63 exam can be retaken, a 30-day waiting period is required after failing the first or second time and 180 days must transpire before the exam can be retaken after failing the third, or subsequent, time. It is therefore worthwhile to prepare for the Series 63 prior to taking it.

Following are a few Series 63 study tips to help you effectively prepare for the Series 63 exam.

Series 63 Study Guide

In order to get a format and content overview of the Series 63 test, download the Series 63 study guide from the NASAA website here. The various subjects are covered in the study guide including financial obligations, ethical practices and the acts and regulations pertaining to securities of the state in which the test is being taken.

Uniform Securities Act

Candidates planning on taking the Series 63 exam should also be familiar with the Uniform Securities Act, whose laws and regulations are used by participating states to govern interstate trading, customer account management and solicitation. Series 63 test prep knowledge can be broadened by also being familiar with business practice legalities, industry terminology and standards for record keeping.

It is also recommended by the NASAA that test candidates review the organization’s statements of policy and model rules before taking the exam.

Use Flash Cards

Flash cards are a great way to retain knowledge because they operate via repetition and visual assistance. Series 63 test prep flash cards can either be found on several online websites, or they can be made by the candidate. Flash cards consist of a question printed on one side and the correct answer printed on the opposite side.

It is recommended to do the bulk of studying in the weeks just prior to taking the exam so that the information is fresh on the mind. Candidates that register for a Series 63 license are given 120 days by the Financial Industry Regulatory Authority (FINRA) to schedule their exam. Candidates can either prepare and then register and schedule their test right away, or register and study before scheduling an exam date.

Written by Theme Admin in: General information | Tags:

How to Pass the Series 63 Exam August 11th, 2014

Posted on August 11th, 2014 as General information

The passing of Series 63 is required by most states before a financial securities brokerage license will be issued. Although the Series 63 test can be retaken if failed, there are waiting periods of 30 days to retake the second or third test and 180 days for exams retaken after the third failure. Brokerage firms are also beginning to place more emphasis on hiring agents that have passed the Series 63 exam on the first try since repeated failures often equate to poor service or even criminal activity.

It is recommended for securities sales candidates wanting to take the Series 63 test to utilize the available Series 63 study guide for preparation. Candidates should also be familiar with the Model Rules and Statement of Policy of the North American Securities Administrators Association, and the Federal Uniform Securities Act.

Following are some of the main points concerning securities registration that are addressed on the Series 63 and that are also covered in the Series 63 study guide.

Registration of Securities

The Series 63 license candidate should first know the securities that are exempt from the requirements of registration according to the Securities Act of 1933. Exempt securities include those issued by the government and other exempt issuers as well as short-term debt instruments, which have a maturity of less than 270 days.

Securities that are non-exempt must be registered with both the state in which they are sold, as well as with the Federal Securities Exchange Commission (SEC). Series 63 license candidates should also know the differences between the three forms of registration: filing and notification, coordination, and qualification.

IPO and New Securities Registration

Another Series 63 test prep point should focus on IPO registration as well as new security registration by corporations. First time stock sales by a company to the public require registration with the SEC. These IPOs (initial public offerings) must also be registered with their appropriate state securities administrator.

New securities offered by corporations must also be registered in the states where they are offered. Such securities are offered by corporations in order to produce new funding for operations and specific guidelines must be met when registering which should be known by Series 63 candidates.

Non-Established Issuers and Federally Covered Exemptions

A basic knowledge of non-established Issuers and Federally covered exemptions should also be part of a candidate’s Series 63 test prep routine. Securities that are issued but are not in compliance with registration requirements, or are not initial public offerings (IPOs), must be registered via a process called qualification which is a complex procedure.

Those obtaining a Series 63 license should also know that any issuer that is registered on the NASDAQ or U.S. stock exchange have their securities exempt, regardless of their type as mandated under the National Securities Market Improvement Act of 1996.

If securities license candidates utilize the Series 63 study guide as well as familiarize themselves with the other documents listed at the beginning of this article, they will stand a much better chance of passing the Series 63 exam on the first try.

Written by Theme Admin in: General information | Tags:

How Failed Series 63 Tests Affect Public Investors August 5th, 2014

Posted on August 5th, 2014 as General information

People wanting to invest in securities often look at stockbrokers as they do doctors. When it’s time to seek out a doctor for a checkup or after getting sick, many people simply choose a doctor and make the appointment believing that the doctor can be trusted, is highly skilled and has the best interests of their patients in mind. However, doctors are people that have different personalities and experience various problems which can radically affect their services. Brokers, too, are people and although the majority of agents hold a Series 63 license. some have received them only after numerous tries.

What Is The Series 63?

The Series 63 is an exam that is required to be taken and passed by potential financial securities agents before they can operate in that capacity. The Series 63 exam is officially known as the Uniform Securities State Law Examination and, as its name implies, it has been developed to establish more unity in the financial investment industry between states. Only a handful of states and U.S. territories do not require the Series 63 test to be taken as a condition of receiving a securities brokerage license. However, most leading brokerage firms do require a Series 63 license as well as the passing of the 66 exam.

As has been mentioned, brokers consist of individual people that possess different motivations, maintain various performance levels, have varying degrees of intelligence and knowledge, and experience real life problems. This variance in performance by those holding a Series 63 license is evident, according to released Wall Street investor data, which revealed that basic Series 63 exams were failed at least once by over 51,500 brokers.

It was determined that of those that failed the Series 63 repeatedly (more than once), were also shown to have the worst records for making errors, conducting bad practices and having tainted disciplinary records. For example, brokers that were found to fail their Series 63 test more than twice had a 77 percent higher chance of being reported for a misdemeanor or felony for financial-related incidents and 55 percent increased chance for job termination over brokers that passed the Series 63 exam on the first try.

Choose Brokers Wisely

Regulators of securities were notified of the alarming data and have responded by saying they would consider providing investors with more broker information. It is therefore wise for those applying for a brokerage license to insure they prepare adequately and utilize the Series 63 study guide. It is also prudent for public investors to inquire about test results of those brokers with whom they deal.

Written by Theme Admin in: General information | Tags:

What It Takes to be a Stockbroker: Series 7 Requirements August 2nd, 2014

Posted on August 2nd, 2014 as General information

The position of stockbroker can be both exciting and lucrative. The financial world is one of constant fluctuation so it provides a constantly new and shifting landscape that requires a good amount of expertise as well as a degree of instinct to successfully navigate its ever-changing waters. If you are both knowledgeable and have a knack for projecting the ebbs and flows of financial fluctuations, then you can make a productive career as a stockbroker.

What about Education?

Many people drop their dreams of becoming a stockbroker because they assume that they require an education in finance. However, that is simply not the case. Higher education is oftentimes advertised and sold as ‘necessary’ because universities, too, are businesses seeking those to buy their product: education. All that is essentially required for becoming a licensed stockbroker is to take and pass the Series 7 exam and 66 exam (or 63 exam depending on the state).

Of course, obtaining a degree in finance can definitely assist with becoming a successful stockbroker due to the added knowledge gleaned from university courses. However, a Series 7 prep course will deliver what is necessary to start a stockbroker career as will a completed Series 7 online course. The other added advantage to having a degree is that you have a better chance of obtaining a broker-dealer sponsor which is one of the Series 7 requirements.

Required Licenses

There are two licenses that must be obtained before you are registered to sell stocks, bonds, mutual funds, and other investment vehicles, the Series 7 Securities License and the Series 66 license (or Series 63 license depending on the requirements of your state). The only items that are not authorized for sale by stockbrokers under an NASD Series 7 are commodities futures, life insurance and real estate.

An NASD Series 7 license is obtained by passing the Series 7 exam with a 72 percent correct score out of 250 countable questions. A good knowledge is required to pass the Series 7 so candidates should vigorously study for the Series 7 before attempting to take it. Series 7 licensing and registration is provided by the Financial Industry Regulatory Authority (FINRA), while Series 66 is completed by the North American Securities Administrators Association (NASAA).

Series 7 Exam Details

As mentioned, the Series 7 tests consist of 250 questions (plus 10 non-countable ‘pre-test’ questions) and a passing score of 72 percent is required. Candidates are provided six hours to complete the exam (three hours of testing with a one hour break followed by the remaining three hours of testing).

Besides the above, Series 7 requirements include obtaining a sponsor, registering and scheduling an exam date online with FINRA, paying the $295 exam fee, taking and passing the exam, and finishing the registration process through your FINRA online account.

What Are You Waiting For?

Becoming a stockbroker is within your grasp. With some determination, a good deal of Series 7 prep and a passing grade on your exam, you can enter the exciting world of financial securities stock brokering and create an amazing career for yourself.

Stockbroker Educational Requirements July 30th, 2014

Posted on July 30th, 2014 as General information

A securities agent, better known as a stockbroker, is someone that assists individuals, companies and governmental agencies with decisions related to making investments and investment management. A stockbroker holding a NASD Series 7 license can give advice and make transactions on all financial products with the exception of life insurance, commodity futures and real estate.

The career of a securities agent can be both exciting and lucrative. Ever-changing financial markets have to be closely watched and advice given based on what they will do and how they will best improve the portfolios of various clients. If you find becoming a stockbroker of interest, you may want to know what the educational needs are to meet Series 7 requirements.

Higher Education

Many brokerage firms require their candidates to possess a bachelor’s degree in finance, economics, accounting, or business at the very least. This type of background coupled with NASD Series 7 knowledge required to take the Series 7 exam should not only make the candidate more efficient at securities product sales, but it should also help them to pass the Series 7 which can be extremely grueling.

If you are seeking an advanced position in securities management or analyzation with a broker-dealer, you may be required to have a master’s degree. Having an MBA (Master in Business Administration) plus Series 7 licensing will usually qualify you for a higher starting salary and faster advancement as well as an initial hiring bonus.

No Higher Education

If you do not have any higher education, your dreams of becoming a securities agent are not dashed, although it might make the process much more difficult. The main obstacle to not having a university degree is that the Financial Industry Regulatory Authority (FINRA) requires that stockbroker candidates first be sponsored before registering for and taking the Series 7 tests. It can be difficult acquiring a sponsor without any experience or credentials.

Also, the exam for the Series 7 NASD can be extremely difficult without any background knowledge of financial products and related subjects. The Series 7 exam takes six hours to complete its 250 countable questions and additional 10 non-countable ‘experimental’ questions. The national average score on Series 7 tests is 67 percent, yet a passing score is 72 percent.

Training and Study

A Series 7 Securities License can still be obtained without a having a university degree, it simply takes more commitment, drive and adequate Series 7 exam preparation. If you find a broker-dealer to sponsor you, they may also provide an in-house Series 7 prep course and Series 7 study guides to assist you.

If you do not receive Series 7 exam prep help from your sponsor then you will need to apply additional effort in order to pass. You should sign up for a Series 7 online course or offline class and obtain a new or used copy of a Series 7 study guide.

With a good deal of effort and focus, you can fulfill your desire of becoming a stockbroker without having to spend the money or time for a university degree.

Written by Theme Admin in: General information | Tags: