What is the requirement for selling insurance as mandated by the insurance act?

To sell insurance, an individual must pass an approved examination as mandated by the insurance act. This requirement ensures that the person has the necessary knowledge and understanding of insurance principles, regulations, and products. By passing this examination, the individual demonstrates their competency to provide insurance services to clients, which is crucial for maintaining industry standards and protecting consumers.

Other options do reflect qualities that may be beneficial in an insurance salesperson, but they are not mandatory legal requirements for selling insurance. For instance, having a college degree in insurance is helpful for gaining knowledge, but it is not a prerequisite set by the insurance act. Similarly, being of good character is certainly a desirable trait, but it is not formally assessed as part of the licensing process. Working for a brokerage for a minimum of two years may provide practical experience, but again, it is not a statutory requirement to begin selling insurance. Thus, the approved examination serves as the primary mechanism for ensuring that individuals can competently represent insurance products to potential clients.