This licensing information is designed to provide a summary of the Michigan insurance license requirements established by the Michigan Department of Insurance and Financial Services. We recommend you contact the Michigan Department of Insurance and Financial Services for more detailed information or changes.
1. Complete a Michigan insurance pre-licensing course
To sell insurance in Michigan, you must complete an approved pre-licensing education course. All insurance pre-licensing courses provided by Insurance License Express are approved by the Michigan Department of Insurance and Financial Services.
Once you have completed your Michigan insurance pre-licensing course, you will receive a Certificate of Completion. The course is valid for one year from your date of completion. Within one year of completing the course, you must pass your Michigan insurance license exam.
Step 2: Pass a Michigan insurance licensing exam
Make an exam reservation
Your state licensing exam is provided by PSI Services. When you make your reservation for the exam, you will be required to pay the exam fee using a credit card, debit card, voucher, or electronic check. You can make an exam reservation online or by phone, fax, or mail:
- Online: Visit https://candidate.psiexams.com/.
- Phone: Call (800) 733-9267.
- Fax: Send your registration form to (702) 932-2666. After four business days, call PSI at (800) 733-9267 to schedule your exam.
- Mail: Send your registration form and the appropriate exam fee to:
- PSI Services LLC, ATTN: Examination Registration MI INS, 3210 E Tropicana, Las Vegas, NV 89121
- Then, after two business weeks, call PSI at (800) 733-9267 to schedule your exam.
What to bring to your exam
You are required to bring two forms of current signature identification, including:
- A primary ID, such as a driver’s license, passport, or military ID that contains a photograph and signature. The ID cannot be expired.
- A secondary ID, such as a debit or credit card that contains your signature and has not expired.
You should arrive at your test center 30 minutes prior to the exam so that you have plenty of time to verify your identification and have your photograph taken.
Special PSI rules you should know
- Talking to other candidates, exiting the building during the exam, smoking, eating, and drinking are prohibited.
- Children are not allowed in the testing room.
- Jackets, coats, and hooded clothing are prohibited, and you will be asked to empty your pockets before entering the exam.
Michigan insurance license exam format
- Each major line exam is given in a multiple-choice format.
- The exam consists of a general section that covers basic insurance product knowledge and a state section that covers the insurance laws, regulations, rules, and practices of Michigan.
- As soon as you complete the exam, you will receive a score report that indicates whether you passed or failed. If you pass, you will receive an exam results letter that provides you with a performance summary. Should you fail, you will receive a diagnostic report that shows you where you did well and where you fell short on each section of the exam.
Note: Each exam includes a mix of “pretest” questions and scored questions. The pretest questions are not identified throughout the exam, and the answers may not have been discussed in your education course. Answers to pretest questions will not affect your score.
Step 3: Apply for a Michigan insurance license
Once you’ve passed the exam, apply for your Michigan insurance license by completing an application at http://www.nipr.com.
For more information regarding Michigan insurance license requirements, contact the Michigan Department of Insurance and Financial Services.
Securities License Requirements
Any securities professional associated with a member firm-including partners, officers, directors, branch managers, department supervisors, and salespersons-must register with the Financial Industry Regulatory Authority (FINRA). The registration application requires information about the individual's prior employment and disciplinary history. FINRA prescribes two levels of qualification and registration:
Registered representatives, generally sales personnel
Principals, generally officers of the firm and other management personnel involved in the day-to-day operation of the firm's investment banking or securities business
As part of the registration process, securities professionals must pass examinations administered by FINRA to demonstrate competence in the areas in which they will work. These mandatory qualification examinations cover a broad range of subjects on the markets, as well as the securities industry and its regulatory structure, ensuring a minimum level of understanding and expertise. For additional information, you should consult with your broker-dealer management team. You may also visit FINRA's website for detailed information.
