South Carolina Life and Health Insurance Exam

Need of a License: An individual who is acting as a Producer needs a license to sell life and health insurance in South Carolina.

Who Grants a License: Licenses are granted by the South Carolina Department of Insurance.
Life and Health Insurance Agent Exam
Qualifications to receive a License: Individuals who wish to obtain an insurance license in the State of South Carolina:

1. Be at least eighteen (18) years of age.
2. Be a resident of South Carolina.
3. Complete background check requirement.
4. Pay fees, register for and pass the examination.
5. Apply for the license.

Applying for the Producer Exam:  Examinations are administered by the independent testing service, PSI Services, LLC. Registration and examination information can be found in the South Carolina Candidate Information Bulletin, which should be reviewed thoroughly prior to registering for the exam. For the fastest and most convenient test scheduling process, PSI recommends that candidates register for their exams using the Internet via PSI’s registration website at www.psiexams.com. Telephone scheduling is also available by calling (800) 733-9267, as well as fax, email and standard mail registration. Please see the Candidate Information Bulletin for details. Additional exam questions should be directed to PSI:
 
PSI
3210 E Tropicana
Las Vegas, NV 89121
(800) 733-9267    Fax (702) 932-2666
www.psiexams.com

Completing the Background Check Requirement: All resident license applications require that the South Carolina State Law Enforcement Division (SLED) conduct a background investigation. You can obtain the report from SLED by submitting a written request to the address below or through their Web site.

State Law Enforcement Division
ATTN: Central Records Depository
P. O. Box 21398
Columbia, SC 29221
Phone: 803.737.9000
www.sled.sc.gov

Test Information: 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. To obtain a content outline for your specific examination, visit www.psiexams.com. The following is a general outline of exam content:
 
South Carolina Life, Accident and Health Insurance Producer Series 19-03
(150 questions – 2.5-hour time limit)
1.0 Insurance Regulation 15%
1.1 Licensing
1.2 State regulation
1.3 Federal regulation
2.0 General Insurance 5%
2.1 Concepts
2.2 Insurers
2.3 Producers 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 Business uses of life insurance
3.5 Classes of life insurance policies
3.6 Premiums
3.7 Producer responsibilities
3.8 Individual underwriting by the insurer
4.0 Life Insurance Policies 6%
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 (individual versus group)
5.0 Life Insurance Policy Provisions, Options and Riders 11%
5.1 Required provisions (38-63-220)
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
5.11 Standard Life Insurance Provisions
6.0 Annuities 4%
6.1 Annuity principles and concepts
6.2 Immediate versus deferred annuities
6.3 Annuity (benefit) payment options
6.4 Annuity products
6.5 Uses of annuities
7.0 Federal Tax Considerations for Life Insurance and Annuities 3%
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 (IRAs)
7.5 Rollovers and transfers (IRAs and qualified plans)
7.6 Section 1035 exchanges
8.0 Qualified Plans 1%
8.1 General requirements
8.2 Federal tax considerations
8.3 Plan types, characteristics and purchasers
9.0 Health Insurance Basics 8%
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 and Disability Insurance Policy General 5%
10.1 Required provisions (38-71-340)
10.2 Optional provisions (38-71-370)
10.3 Other general provisions
11.0 Disability Income and Related Insurance 6%
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 6%
12.1 Medical plan concepts
12.2 Types of plans
12.3 Cost containment in health care delivery
12.4 South Carolina eligibility requirements and offers (individual and/or group)
12.5 HIPAA (Health Insurance Portability and Accountability Act) requirements (38-71-840)
12.6 Federal Patient Protection and Affordable Care Act (PACA)
13.0 Group Health Insurance 8%
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
13.6 Health savings accounts (HSAs)
13.7 Health Reimburse Arrangements (HRAs)
14.0 Dental Insurance 2%
14.1 Types of dental treatment
14.2 Indemnity plans
14.3 Employer group dental expense
15.0 Insurance for Senior Citizens and Special Needs Individuals 8%
15.1 Medicare
15.2 Medicare supplements
15.3 Other options for individuals with Medicare
15.4 Long-term care (LTC) insurance
15.5 South Carolina Health Insurance Pool
16.0 Federal Tax Considerations for Health Insurance 3%
16.1 Personally-owned health insurance
16.2 Employer group health insurance
16.3 Medical expense coverage for sole proprietors and partners
16.4 Business disability insurance
16.5 Health savings accounts (HSAs)
  
Applying for the License: Issuance of a license depends on review and approval of all license application materials. After you fulfill your exam requirements, apply and pay for your license on the Department’s Web site at www.doi.sc.gov. You can verify the status of your application on the Department’s Web site. If the Department approves your application, you can print your license from the Web site and after being appointed by an insurance company may solicit insurance of the type for which you have been licensed and appointed. If your application is denied, you will be notified in writing of the reason for such denial. Please see the Candidate Information Bulletin for further details. Additional licensing questions should be directed to:
 
South Carolina Department of Insurance
1201 Main Street, Suite 1000
Columbia, SC 29201
Phone: (803) 737-6095 ** Fax: (803) 737-6100
Email: agntmail@doi.sc.gov
Web site: www.doi.sc.gov
 
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 Producers in South Carolina are regulated by the South Carolina Department of Insurance
 

For more information on life and health insurance agent licensing and exam preparation, go to Tests.com’s Life and Health Insurance Exam Guide.

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