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Insurance Exam Prep is a daily podcast designed to help future insurance professionals pass their licensing exams with clarity and confidence. Built and operated by OpenExamPrep, this podcast breaks down insurance licensing exams into focused, easy-to-digest episodes covering Life Insurance, Health Insurance, and Property & Casualty, across both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions. Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Insurance Exam Prep was developed from firsthand experience with how complex—and often poorly taught—insurance exam material can be. The goal is simple: make insurance exam preparation clearer, more accessible, and more effective through structured explanations and modern learning tools. Whether you’re preparing for a Life, Health, or P&C exam, just starting your licensing journey, or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time. Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/

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Check latest episodes from Insurance Exam Prep podcast

[Health Insurance] 25, Optional Uniform Provisions Overview

2026/04/21

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That optional provisions primarily protect the insurer from excess risk and are not required in every policy. - How the Misstatement of Age provision leads to an adjustment of benefits, not policy cancellation, and serves as an exception to the incontestability clause. - Why the Change of Occupation provision allows an insurer to reduce benefits at claim time if the insured moved to a more hazardous job without notice. - How the 'Other Insurance' and 'Relation of Earnings to Insurance' provisions work together to prevent moral hazard by upholding the principle of indemnity. - That the Conformity with State Statutes provision ensures state law automatically overrides any less favorable policy language. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 24, Legal Actions and Change of Beneficiary Provisions

2026/04/20

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - An insured must wait a minimum of 60 days after submitting proof of loss before they can file a lawsuit against the insurer. - The statute of limitations for taking legal action against an insurer is three years from the date proof of loss was required. - A revocable beneficiary, which is the default designation, can be changed by the policyowner at any time without needing the beneficiary's consent. - An irrevocable beneficiary cannot be changed unless the policyowner obtains that beneficiary's written consent. - Exam questions frequently test the specific timeframes of the Legal Actions provision and the consent requirement for irrevocable beneficiaries. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 23, Payment of Claims and Physical Examination

2026/04/19

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That claim benefits are paid to the insured, their assignee (like a hospital), or a beneficiary. - The 'facility of payment' clause allows insurers to make small, immediate payments to a relative for final expenses. - Insurers have the right to require a physical exam of the insured while a claim is pending. - The insurer is always responsible for the cost of any physical exam or autopsy they require. - An autopsy can be performed at the insurer's expense unless it is prohibited by state law. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 22, Proof of Loss and Time of Payment of Claims

2026/04/18

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The claimant is required to submit written proof of loss to the insurer within 90 days of the loss. - Insurers must pay claims for periodic payments, such as disability income, immediately upon receiving proof of loss. - For all other types of claims, like medical reimbursements, the insurer must pay promptly after receiving proof. - A claim is not automatically denied for late submission if proof is provided as soon as reasonably possible, but no later than one year. - A common exam trap is confusing the 90-day Proof of Loss provision with the 20-day Notice of Claim provision. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 21, Notice of Claim and Claim Forms Provisions

2026/04/17

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The insured must provide a written notice of claim to the insurer within 20 days of a loss, or as soon as reasonably possible. - The 20-day notice period can be extended if circumstances, such as incapacitation, make it not reasonably possible for the insured to comply. - After receiving a notice of claim, the insurer has a 15-day deadline to furnish the claimant with the necessary claim forms. - If the insurer fails to provide claim forms within 15 days, the claimant can satisfy the requirement by submitting a written description of the loss. - A common exam trap is confusing the 20-day Notice of Claim provision with the 90-day Proof of Loss provision. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 20, Grace Period and Reinstatement Provisions

2026/04/16

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The length of the Grace Period is determined by the premium payment mode: 7 days for weekly, 10 for monthly, and 31 for all others. - Coverage remains in force during the Grace Period, but any unpaid premium will be deducted from a claim payment. - Reinstatement is required after a policy lapses and involves a new application and payment of back premiums. - After a policy is reinstated, accidents are covered immediately, but a 10-day waiting period applies to sickness claims. - If an insurer does not reject a reinstatement application within 45 days, the policy is considered automatically reinstated. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 19, Entire Contract and Time Limit on Certain Defenses

2026/04/15

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The Entire Contract provision consists of the policy, the application, and any attached riders, forming the complete agreement. - Verbal statements or promises made by an agent that are not in the written contract are unenforceable. - The Time Limit on Certain Defenses sets a two-year period for insurers to contest misstatements on an application. - After the two-year contestability period, a policy cannot be voided or a claim denied for misstatements, unless they were fraudulent. - A key exam trap involves scenarios where a claim arises after the two-year period; for non-fraudulent misstatements, the insurer must pay. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 18, Mandatory Uniform Provisions Overview

2026/04/14

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That all individual health policies must include the 12 mandatory provisions created by the NAIC to protect the insured. - How the exam tests your ability to differentiate between the 12 mandatory provisions and the 11 optional provisions. - The specific timelines for the Grace Period provision, which are 7, 10, or 31 days depending on premium frequency. - The critical timeframes for the claims process: 20 days for Notice of Claim, 15 days for the insurer to provide Claim Forms, and 90 days for Proof of Loss. - Common exam traps, such as the 10-day waiting period for sickness coverage after a policy is reinstated. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 17, Provider Reimbursement Methods

2026/04/13

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - How Fee-for-Service reimbursement incentivizes the quantity of medical services provided. - The core concept of Capitation as a fixed, per-member-per-month payment, shifting financial risk to providers. - Why Salary-Based reimbursement removes the direct financial incentive for the volume of services. - The function of Diagnosis-Related Groups (DRGs) in reimbursing hospitals with a fixed amount for specific diagnoses. - The key differences in provider incentives and common exam traps associated with each reimbursement model. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 16, Point of Service Plans and Exclusive Provider Organizations

2026/04/12

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why a POS plan is considered a hybrid of HMO and PPO plans. - The critical role of the Primary Care Physician (PCP) as a gatekeeper in POS plans. - The key features of an EPO plan, including its strict network and lack of a referral requirement. - How the exam tests the differences in out-of-network coverage between POS and EPO plans. - A simple mnemonic to distinguish between POS and EPO plans on your exam. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 15, Preferred Provider Organizations PPOs

2026/04/11

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - PPOs offer a network of preferred providers for lower costs but allow out-of-network care at a higher cost-sharing for the member. - Unlike HMOs, PPOs do not require a Primary Care Physician (PCP) to act as a gatekeeper. - Members of a PPO can see specialists without needing a referral. - The key trade-off for the flexibility of a PPO is typically a higher monthly premium. - Exam questions often test the PPO vs. HMO distinction, focusing on flexibility, referrals, and out-of-network coverage. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 14, Health Maintenance Organizations HMOs

2026/04/10

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The two defining characteristics of an HMO are its prepaid service model and the use of a Primary Care Physician (PCP) as a gatekeeper. - HMO members must use in-network providers, and there is no coverage for out-of-network care except in cases of a true medical emergency. - A referral from the PCP is mandatory to see a specialist; self-referrals will result in a denied claim. - The main types of HMO models (Staff, Group, IPA) are differentiated by the employment or contractual relationship between the HMO and its physicians. - A key distinction from a PPO is that an HMO requires a gatekeeper and generally does not provide out-of-network benefits, whereas a PPO does. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 13, Common Exclusions and Limitations

2026/04/09

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The primary purpose of exclusions is to manage risk, prevent adverse selection, and maintain affordable premiums. - Under the ACA, pre-existing conditions cannot be excluded or charged higher premiums in compliant health plans. - A waiting period for employer-sponsored health benefits cannot exceed 90 days from the date of eligibility. - Injuries sustained at work are exclusively covered by Workers' Compensation, not by health insurance. - A key distinction tested is between elective cosmetic surgery (excluded) and medically necessary reconstructive surgery (covered). For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 12, Coordination of Benefits

2026/04/08

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The main purpose of Coordination of Benefits (COB) is to prevent receiving payments that exceed 100% of the cost of services. - How to determine the primary payer when an individual is covered under their own employer's plan and a spouse's plan. - The "Birthday Rule" makes the primary payer the parent whose birthday comes earlier in the calendar year, regardless of age. - How a divorce decree or custody arrangement can override the standard Birthday Rule for dependent children. - The difference in payment responsibility between a primary plan, which pays first, and a secondary plan, which covers remaining costs. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

[Health Insurance] 11, Usual Customary and Reasonable Charges

2026/04/07

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - That UCR is the maximum amount an insurer recognizes for a service in a specific geographic area, based on what local providers usually charge. - How balance billing occurs when an out-of-network provider charges more than the UCR amount and bills the patient for the difference. - That all insurer payment calculations (like coinsurance) are based on the UCR amount, not the provider's higher actual charge. - How to calculate the insured's total out-of-pocket cost by adding the deductible, coinsurance, and the full balance-billed amount together. - The critical difference between UCR for out-of-network care and contractually negotiated rates for in-network providers, who cannot balance bill. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep