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Selling Mortgage Insurance

Sherri Said:

What do I need to do to become licensed to sell insurance in NJ?

We Answered:

In order to get your insurance license in NJ you have to go to licensing school. My school was 6 hrs a week for almost 5 months. I think there is also an intensive school that is essentially full time, you have to do all of the required hours in 2-3 weeks. You may want to take the life & health too. I did it because on the State exam it is only about 5 questions, at least that is what it used to be.
You have to take & pass the school test. You have to bring the certificate that you passed the school test to the state licensing test in order to take it. You cannot self study in NJ.
I don't know the cost of this, my employer paid for it.
Contact the NJ Dept of Insurance for lists of approved licensing schools.

Ron Said:

Is PMI mortgage insurance given back after the house gets sold?

We Answered:

No, PMI is never recouped. It is Private Mortgage Insurance and like any insurance, premium money is never returned to you.

Herman Said:

Can you make a good living (80K+) selling insurance?

We Answered:

I would not bet on it. Not in this economy.

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