MGA study plan

Define the core risk concepts (pure vs speculative risk, peril, hazard, retention, transfer, avoidance, reduction) and give one insurance example of each from memory

Explain insurable interest, indemnity, utmost good faith, adhesion, and aleatory in plain words and identify which contract characteristic each policy clause illustrates

Distinguish the elements of a valid contract (offer, acceptance, consideration, legal purpose, competent parties) and apply them to a life or health application scenario

Map the six required policy elements (declarations, insuring agreement, conditions, exclusions, definitions, riders) to a sample life and a sample accident-and-sickness policy outline you write yourself

Describe term, whole life, universal life, variable life, and variable universal life, and state how premium, cash value, and death benefit behave in each

Compute a simple net single premium and a level annual premium for a 10-year term policy using a mortality table and an assumed interest rate

Explain the underwriting process, field underwriting duties, the role of the Medical Information Bureau, and the purpose of the free-look and incontestability provisions

Compare the main settlement options (lump sum, life income, fixed period, fixed amount, interest only) and calculate a payout under at least two of them

List the standard life exclusions and riders (waiver of premium, accidental death, guaranteed insurability, accelerated death benefit) and state what each adds or removes

Define accident, sickness, disability, and the benefit triggers used in accident and health policies, including elimination periods and probationary periods

Differentiate hospital indemnity, medical expense, disability income, critical illness, and long-term care coverage by benefit structure and claim trigger

Calculate a disability income benefit given a stated monthly income, an income replacement percentage, an elimination period, and an offset for other income

Explain coordination of benefits, residual and partial disability benefits, and the purpose of renewability clauses (noncancellable, guaranteed renewable, conditionally renewable)

Identify common accident and health exclusions and the underwriting factors that drive premium (age, occupation class, health history, benefit period)

Analyze how riders modify base coverage and predict the effect of each rider on premium and on claim payout

Apply the incontestability, misstatement of age, grace period, reinstatement, and assignment provisions to three fact patterns and state the outcome

Explain beneficiary designations (primary, contingent, revocable, irrevocable, per stirpes vs per capita) and determine who receives proceeds in three scenarios

Distinguish the roles of the applicant, owner, insured, and beneficiary, and explain why the owner controls the policy

Conduct a structured needs analysis for two hypothetical clients using the human life value and needs approaches, and compare the resulting coverage amounts

Match product recommendations to client facts (income, dependents, debt, time horizon, risk tolerance) and justify each recommendation in writing

Explain suitability, replacement, and disclosure obligations that apply when recommending a policy or a replacement

Build a fact-finder checklist covering financial, health, and family information needed before a recommendation

Define the fiduciary duties of an agent (loyalty, disclosure, confidentiality, accounting for funds) and apply them to four ethical dilemmas

Explain unfair trade practices including misrepresentation, twisting, rebating, churning, and coercion, and identify each in written scenarios

Describe the purpose and limits of state continuing education, producer licensing, and appointment requirements

Outline a compliant sales conversation, including required disclosures and documentation of the client's stated needs

Summarize the roles of state insurance departments, the NAIC model framework, and federal laws that touch insurance marketing and privacy

Explain producer licensing, appointment, termination, and reporting obligations, and describe the consequences of acting without authority

Describe market conduct examinations, complaint handling, and the insurer and producer recordkeeping duties

Revisit risk and contract fundamentals and connect regulatory rules back to the principles from week 1

Take a full-length timed practice exam you assemble from your own week-by-week question sets and score it by domain

Review every missed item and write the underlying rule it tested rather than just the correct answer

Re-drill the two lowest-scoring domains until you can explain each missed concept aloud without notes

Confirm exam-day logistics, allowed materials, and timing strategy, and rehearse a pacing plan for each domain