How To Become An Insurance Agent In Rhode Island
What Kind Of Agent Are You Going To Be?A majority of people who are applying for their insurance license have a plan in already in place of where they are going to use it. If you don't yet have a plan on how you will be using your insurance license, this is the place to start. Here are some of the questions that you should ask yourself:
- What type of insurance am I going to sell?
- Am I starting my own agency or working inside of an existing agency?
- It may depend on how your agency is set up to tell you what type of licenses you need to hold.
- What types of licenses does my company require me to hold?
How To Get Your Insurance License In Rhode Island
1. Pre-Exam Education
The first step in getting an Rhode Island insurance license is passing your license exam. So why do we say the first step is pre-exam education? The answer is simple. We want you to pass your test the first time you take it. These courses or study materials are not a required step in getting your insurance license, but they are highly recommended.
Most applicants choose to take these courses online, as it fits their schedule better, but there are also in-person courses available. You should choose which format in which to take your courses based on your preferred method of learning. The goal isn't just to get the courses out of the way, it's to prepare you to pass your license exam on the first attempt.
2. Insurance License Exams
The next step after completing all of your pre-license coursework or self-study is to take the insurance exam. You will take one exam for each line of insurance you wish to carry. Pearson Vue does offer a "back-to-back" discount for these tests. This means that if you attempt two of the exams in the same sitting that you will get a two for one discount.
This is a proctored test, which means that you will be in a controlled environment with a person watching over you. For people who haven't tested in a situation like this should be aware of this fact, and work on taming their nerves prior to sitting for the exam.
The fee for each attempt of the exams is $80. When you show up you must have a photo ID any other documents that the testing facility has asked you to bring.
Each of the exams is broken down into two sections: General Knowledge and State Specific. Rhode Island offers a partial pass on each exam, which means that if you take an exam, and pass only one of the sections, that you don't need to retake that section as long as you pass the other half within one (1) year.
Be sure to study the Rhode Island Insurance Exam Content Outlines before attempting the tests.
To explain the scoring of the exams, we will quote the Pearson Vue Rhode Island Insurance Licensing Candidate Handbook:
There are multiple versions of each of the licensing examinations. These versions are known as forms. Although all forms of an examination are developed based on the content outlines, the difficulty of the forms of an examination may vary slightly because different questions appear on each form. To ensure that no candidate is put at an unfair advantage or disadvantage due to the particular form of an examination that he or she is given, a statistical procedure known as equating is used to correct for differences in form difficulty.
The passing score of an examination was set by the Rhode Island Department of Business Regulation (in conjunction with Pearson VUE) after a comprehensive study was completed for each examination. Raw scores are converted into scaled scores that can range from 0 to 100. To avoid misuse of score information, numeric scores are only reported to failing candidates. The scaled score that is reported to you is neither the number of questions you answered correctly nor the percentage of questions you answered correctly. With a passing score of 70, any score below 70 indicates how close the candidate came to passing, rather than the actual number or percentage of questions the candidates answered correctly."
Check out our Insurance Exam Guide. It's extremely in-depth, and will hopefully help you pass the first time.
Insurance license tests are intentionally difficult, but not impossible by any means. You should study to the point of comfortability with the information before you attempt the test. Failing the exam isn't the end of the world, but keep in mind that you will need to pay the fee each time you attempt the test.
Note: StateRequirement recommends that you study for one exam at a time, then after passing, starting on your next line. The exams are difficult enough on their own without confusing information from one line to another.
You may register to take your exams and find more information on the Pearson Vue Rhode Island Insurance page. Keep your score report, as you will need to send it in a later step.
3. License Application
Once you have completed your exams and fingerprinting, you are now ready to apply for your license. If you have more than one line of authority that you have passed the exam for, be sure to apply for all of those lines.
The fee for an online application is $120, and an NIPR fee of $5, for a total of $125. If you wish to add another line of authority at a later date, there is a $50 license amendment fee.
Fill out and submit your online application on the NIPR Rhode Island page.
4. Background Check
The state of Rhode Island requires that all insurance license applicants submit a background check prior to licensing. If you have any prior misdemeanors or felonies, this may affect the outcome of your licensing efforts. For more information on this topic, call the Department of Insurance at (401) 462-9520 or email the Insurance Department.
You must complete your background check with the Rhode Island Attorney General. Walk-in hours are between 8:30 am - 4:00 pm.
Office of Attorney General
150 S Main Street
Providence, Rhode Island 02903
The fee for background check services is $5.
Keep all of the documentation that they provide you, as you will need to send it in the next step.
5. Email Background Check And Exam Scores
After submitting your license application to the state, you will receive an email from the license department requesting your background check information and your exam score report.
Scan in these documents and send them in a reply email.
6. Application Review
Once you have submitted your application and have filled all the other requirements, your license application will be reviewed by the state. Your background check will also be reviewed.
If everything is to acceptable standards your license should be issued quickly. If there are any items from your background check that need to be reviewed, it may slow down the process of issuance. If this is the case, the state may contact you to provide context to the issues that they have run into.
After you send in the requested documentation, the licensing department will take up to ten (10) days to review it, and then send you an email with verification that your license has been issued.
You've done the work, put in the time and effort, and now hold the key to your own success! We're proud of you. Take five (5) minutes and celebrate.
Rhode Island Department Of Insurance Contact Information
Rhode Island Business Regulation Division
1511 Pontiac Avenue, Bldg. 69-2
Cranston, RI 029301
Phone: (401) 462-9520
Fax: (401) 462-9602
Email: [email protected]
Information on this page has been gathered by a multitude of sources and was most recently updated in April 2019.
Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date. Huge Hammer LLC and its members and affiliates are not responsible for any losses, monetary or otherwise. For more information, please contact your state's authority on insurance. Disclosure: StateRequirement has an affiliation with Kaplan Education company, and may receive compensation based on user activity on this site. We truly believe that Kaplan offers excellent products and services, and compliments the mission of StateRequirement.
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