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Insurance Exam Prep

Ran Chen, EA, CFP®

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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August 28 · 3 min
AHIP Medicare Exam Prep 12, Medicare Advantage HMO Rules
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: - Primary care physician (PCP) gatekeeping and referral requirements in Medicare Advantage HMOs. - Clear distinctions between non-covered routine out-of-network care and mandatory covered emergency services. - How urgently needed care is defined and covered when beneficiaries travel out of the plan service area. - Key exceptions including out-of-area renal dialysis and Point-of-Service (POS) option riders. - The P-E-R-C mental shortcut to quickly answer HMO network and coverage scenarios on the AHIP 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
August 27 · 4 min
AHIP Medicare Exam Prep 11, Medicare Advantage Eligibility and Enrollment
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: - Enrollees must have active Medicare Part A and Part B and continue paying Part B premiums. - Beneficiaries must maintain a primary residence in the plan's geographic service area. - Permanent relocations or out-of-area stays over 6 months trigger plan disenrollment and a Special Election Period. - Annual Election Period enrollments take effect on January 1st of the following calendar year. - The 'A, B, Stay' mnemonic simplifies key Medicare Advantage eligibility standards. 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
August 26 · 3 min
AHIP Medicare Exam Prep 10, Solving Medicare Basics Scenarios
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 to apply a five-step framework to solve complex Medicare scenario questions on the AHIP exam. - Primary versus secondary payer rules for active employer coverage based on employee count. - Why COBRA is not active employer coverage and its impact on Part B enrollment penalties. - How Part B enrollment timing determines the six-month Medigap Open Enrollment Period. - Rules governing dual eligibility and Special Enrollment Periods for Special Needs Plans. 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
August 25 · 4 min
AHIP Medicare Exam Prep 9, Dual Eligibility and Medicaid Coordination
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 Medicare operates as the primary payer and Medicaid as the payer of last resort for dual-eligible beneficiaries - The distinction between full-benefit and partial-benefit dual eligibility based on income and asset levels - How Medicare Savings Programs like QMB, SLMB, and QI assist with Part A and Part B costs, including balance billing protections - How the Extra Help program reduces Part D prescription drug costs and automatically applies to Medicare Savings Program enrollees - The role of Dual-Eligible Special Needs Plans (D-SNPs) in coordinating care while remaining voluntary for 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
August 24 · 4 min
AHIP Medicare Exam Prep 8, Employer Coverage and Medicare Coordination
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: - Primary and secondary payer rules based on employer size and active employment status. - Key differences between active employer health plans, retiree coverage, and COBRA. - Why COBRA does not trigger a Medicare Part B Special Enrollment Period and the risk of penalties. - Requirements for creditable drug coverage and the 63-day rule for Part D late enrollment penalties. - The memory shortcut ACT-TWENTY-FIRST to master coordination of benefit decision rules. 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
August 23 · 4 min
AHIP Medicare Exam Prep 7, Medigap and Medicare Advantage Are Not the Same
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: - Key differences in administration and networks between Medigap and Medicare Advantage - Why Medigap and Medicare Advantage are strictly mutually exclusive and cannot overlap - How prescription drug coverage is handled under each insurance path - Premium structures and cost-sharing mechanics tested on the AHIP exam - Enrollment protections, medical underwriting rules, and guaranteed issue periods 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
August 22 · 3 min
AHIP Medicare Exam Prep 6, Annual Election and Medicare Advantage Open Enrollment
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 exact dates and permitted plan changes for the Annual Election Period (AEP) from October 15 to December 7. - Why the Medicare Advantage Open Enrollment Period (MA OEP) is restricted solely to existing MA plan enrollees. - The major exam trap regarding Original Medicare enrollees attempting to use MA OEP in the first quarter. - The rule difference between making multiple plan changes during AEP versus only one single change during MA OEP. - A clear mental shortcut to recall eligibility and action limits for both election periods on test day. 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
August 21 · 3 min
AHIP Medicare Exam Prep 5, Initial General and Special Enrollment Periods
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 the 7-month Initial Enrollment Period operates and how to determine effective dates based on application timing. - Why the General Enrollment Period runs from January 1 to March 31 with coverage beginning the first of the following month. - How the Part B late enrollment penalty is calculated as a 10% premium surcharge per 12-month delayed period without creditable coverage. - Why active employment coverage triggers a Special Enrollment Period while COBRA and retiree health plans do not. - How to apply memory shortcuts like THREE BEFORE ONE AFTER and ACTIVE WORK FOR SEP to quickly eliminate wrong exam options. 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
August 20 · 4 min
AHIP Medicare Exam Prep 4, Medicare Costs and Beneficiary Responsibility
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: - Key differences between Part A benefit period deductibles and Part B annual deductibles - How 20% Part B coinsurance applies after the annual deductible is satisfied - The operational mechanics of Medicare assignment and provider limiting charges - Why non-participating providers can assess a 15% excess charge on Medicare claims - Why Original Medicare has no annual out-of-pocket maximum and how this creates financial risk 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
August 19 · 3 min
AHIP Medicare Exam Prep 3, Original Medicare Parts A and B
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: - Part A uses benefit period deductibles rather than calendar-year deductibles, resetting after 60 consecutive days without inpatient care. - Part B requires a monthly premium with 20% coinsurance and no maximum out-of-pocket limit under Original Medicare. - Hospital observation status counts as Part B outpatient care, which fails the three-day inpatient requirement for Part A skilled nursing facility coverage. - Original Medicare excludes routine dental, vision, hearing, custodial care, and cosmetic surgery entirely. - The memorable mnemonic A is Bed and B is Doc helps quickly distinguish inpatient hospital coverage from physician and outpatient services. 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
August 18 · 3 min
AHIP Medicare Exam Prep 2, Medicare Eligibility and Entitlement Basics
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: - Key differences between Medicare eligibility, entitlement, enrollment, and effective dates - Non-age qualifying rules for Social Security Disability Insurance, ALS, and ESRD - The 24-month SSDI waiting period rule and the ALS immediate entitlement exception - Specific entitlement timelines for End-Stage Renal Disease beneficiaries - How to avoid common AHIP trick questions on non-65 eligibility scenarios 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
August 17 · 4 min
AHIP Medicare Exam Prep 1, Understanding the AHIP Medicare Certification Path
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 the annual AHIP Medicare training and FWA exam assess CMS compliance for Medicare Advantage and Part D plans - The specific roles and agent categories that require annual AHIP completion prior to marketing - How carrier-specific product training and contracting rules build upon the baseline AHIP score - Why studying current plan-year materials is mandatory due to annual CMS regulatory updates - Common exam traps involving retake limits, sales authorization, and Medicare Supplement plan exemptions 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
August 16 · 3 min
Property & Casualty Exam Prep 75, Exam Strategy and Common P&C Traps
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 crucial difference in the burden of proof between named peril and open peril policies. - How to calculate Actual Cash Value (ACV) by subtracting depreciation from replacement cost. - To distinguish between liability coverage, which requires fault, and medical payments, which does not. - That property insurance is first-party coverage for your assets, while casualty is third-party coverage for your liability. - Why common exclusions like flood and business use are frequent and critical exam topics. 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
August 15 · 3 min
Property & Casualty Exam Prep 74, P&C Calculation Questions
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 formula for Actual Cash Value (ACV) and how it differs from Replacement Cost. - How to correctly apply a deductible to a covered property loss. - The key differences between split liability limits and a combined single limit. - How to calculate a coinsurance penalty using the 'Did Carry vs. Should Carry' formula. - The function of the period of restoration in Business Income coverage and how premium audits work. 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
August 14 · 4 min
Property & Casualty Exam Prep 73, Policy Review and Coverage Gap Questions
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 to use a systematic checklist to analyze complex exam scenarios for coverage gaps. - To identify the crucial difference between a named insured and an insured by definition. - How to determine if a specific cause of loss (peril) is covered by the policy in the question. - To spot common exam traps involving specific exclusions, internal limits, and deductibles. - The importance of endorsements in modifying or adding coverage to a standard policy. 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
August 13 · 3 min
Property & Casualty Exam Prep 72, Surplus Lines and Residual Markets
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 key differences between admitted insurers (state-licensed, guaranty fund protection) and nonadmitted insurers (unlicensed, no guaranty fund). - Why a "diligent search" is a strict prerequisite before placing a policy with a surplus lines insurer. - The purpose of residual markets as a last-resort option for obtaining essential insurance coverage. - How assigned risk plans function to provide auto insurance to high-risk drivers who are denied in the voluntary market. - The role of FAIR plans in offering basic property insurance to owners of properties considered too risky for standard carriers. 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
August 12 · 2 min
Property & Casualty Exam Prep 71, State Guaranty Associations and Insolvency
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 State Guaranty Associations exist to pay the claims of insolvent insurers, protecting policyholders. - That these associations are funded through assessments on solvent member insurers, not by taxpayers. - That claim payments are subject to statutory limits, commonly up to $300,000 for P&C claims. - Why it is a strictly prohibited and unfair trade practice for producers to advertise the guaranty association. - That using the association's existence as a sales inducement is a major exam trap and a violation of insurance 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

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