ML Life-Health Insurance Exam
It says right in the POA material that if you get one try for the 7 and 66, and if you don’'t pass you are gone. What about the life and health insurance exam? Is this the same way. If you don’t pass it on the first try you are gone? Why do they not give you a second try on these exams? I mean they could just take it out of your check correct? I just want to know more about these exams, and the severity of passing them so quickly and a “one shot deal” with Merrill.
They give you just one try because they are paying you to study. It’s not about the cost of the exam. They couldn’t just take it out of your check, they would have to take back your entire check because you didn’t do your job!
There are a series of cuts that brokerage houses have to make the team. If you don’t pass the exam you get cut. Accept it and make the choice to pass it. Move on to step 2.
So far very helpful guys. Feel free to indulge. Thank you for the responses. I will get the word sometime next week. What are they going to tell me. I have already filled out their application, the U-4, fingerprints, etc. She said she will call. What should I expect next. He gave me a little ML POA booklet, with a introduction into the program. What is the next step as far as the assistant calling me back. Thank you.
how does a guy like u get an offer form merrill? i live in a reigon that is very selective but come on..................
What’s that suppose to mean. at least explain the little “…” I told you how I got the offer. He called me for an interview, test, discussed results, wanted 100 people, went over program, discussed the position, signed a code of conduct paper, application, waivers, background checks, fingerprints, U-4 form. Now I am waiting for the call from the assistant. What is the big deal about asking questions? I thought that is what the Rookie section of this board was for; to ask rookie questions. So Shmer33, what is your point? I’m just asking another question.
How much time do they give you to study for the 7 and then the 66? If the time frame is adequate and they have some assistance for you, mentors to ask questions on the really hard parts, then you should be able to pass.
The point of paying you to study is that you focus ALL your time on the materials. Not just a few hours now and again but treat the studying as a structured job. If you don't have the discipline to do this then there is no way that you can do this job.
This was my schedule: Make one of your own and stick to it.
Have breakfast with my husband and read the paper over coffee. Get dressed and put on make up (you may want to skip that part ) as if you were going to go to work on a casual Friday. No sweatpants or or other lazy clothing. Study from 8am to Noon with a 15 minute break. Take lunch. Go outside. Go for a walk. Exercise. Study from 1pm to 5pm. Go outside and do yard work or do something else constructive, prepare dinner, do the laundry. Have a glass of wine or cocktails with dinner and visit with my husband and try not to bore him with my studies. Study from 8pm to 10pm weeknights. Never watch television during the week.
I took weekends off to do something fun and socialize with people and only did light studying in the mornings up until noon.
Don't whine about not having a life while studying.....if you pass you won't have one for several years anyway, because the work is hard and will consume all of your time.
[quote=choida]What's that suppose to mean. at least explain the little "...." I told you how I got the offer. He called me for an interview, test, discussed results, wanted 100 people, went over program, discussed the position, signed a code of conduct paper, application, waivers, background checks, fingerprints, U-4 form. Now I am waiting for the call from the assistant. What is the big deal about asking questions? I thought that is what the Rookie section of this board was for; to ask rookie questions. So Shmer33, what is your point? I'm just asking another question. [/quote]
What do you suppose the assistant will call about? Have you been fingerprinted? Have you completed the U-4?
When do they want you to start? How much are they going to pay you?
Are you sure they didn't just give you the forms to take home, but don't expect to actually get them back--sort of a soft crash landing?
i turned all of that in, U-4, application, waivers, background check papers. she just said she would call me next week.
[quote=choida]i turned all of that in, U-4, application, waivers, background check papers. she just said she would call me next week.[/quote]
Sounds like they'll call you next week. What do you think they'll want?
Do you know the terms of your employment--things such as how much you'll be paid. You know, minor stuff like that.
yes, we already agreed to it. its typical POA pay. guaranteed for 2 years of the POA training. As long as I am writing, can ask what it is like when you first start out at these big brokerage houses? what do they expect of me? I mean the series 7 is my only realistic goal as of now? If I don’t pass that I am canned. He made me sign a list 10 things, promise this and that: wear professional clothing, be here from 7:45-6 is a minimum, if I don’t meet the quotas for assets I am canned, and a bunch of other Merrill needs, oh, and attend all POA meetings and wholesaler luncheons. Right now I am just waiting for the call, and hoping to get help from you guys
If you do not pass they can elect to let you try again…for both the 7
and the 66. We often do this with people. During your 1st
17 weeks you will be xpected to: 1. Pass the 7, 2. Pass the 66, 3. pass
the investment module of the CFP program exam, 4. COmplete 2
assessments which are 1-2 hour verbal exams.
As for the insurance…your on your own to get it done, it is not part of the program formally but you need it.
After you pass everything you will get a production number and a free
month to get started…after that the clock is ticking and the counter
If you got fingerprinted and signed everything they are probably
waiting to see if you are a fellon, and if not they will get you
started in coordination with a few other new folks coming in with you
so you go through it together (easier to train and you guys
bond). Just be patient and you should ask the directors assistant
the time frame you are working with instead of asking this forum (trust
me, they do not mind polite persistance on your part).
Personally, I think you deserve to be firec if you do not pass the 7 & the 66. That is if they gave you at least 8 weeks for study.
On life and health you start to get burn out. And they all forget that because they took the test so long ago.
Life is a cinch. Health can be tricky.
Okay. I’m going to share some harsh realities with you. I hope you understand that this isn’t a standard issue flame from some Internet troll. I’m just trying to open your eyes.
Your employer expects you to do your job successfully. If you fail a class in college, you get to take it over. If you fail in a critical task at your job, you can be fired for it. If you fail to obtain licensure, you can be fired. You can also lose your job for failing to find clients, mishandling client transactions, losing your clients, absenteeism, harassment or just because somebody you never met at corporate thinks you should go. On the upside, this industry can be one of the best places to find a secure, well paying job in America today. If you do your job well, you can always point to your production and say “That is my value to the corporation”. You rarely get to do that in real corporate life. There is a lot of security in being a top performer. All you have to do is work very very hard to earn it. You should realize that I’m being direct for a good reason. If you can’t handle pressure then you aren’t cut out for a sales position. My goal here is to either motivate you or scare you off.
Another thing, go back and read my post “Rookie Advice” from last month. It lists four “training films” that may help you find some perspective.
Thanks JC. I don’t mind you telling me that reality at all. Unlike, some people, you put it in a positve light. I got an email, the asisstant needs one more paper signed, copy of my SSN and driver’s license. Then I start the training program in 2 weeks, and probably working on the series 7 and attending POA meeting and wholesaler luncheons. Can some who works for ML or is going through there program explain what I can expect. Again, thank you to everyone who contributed to the post, especailly JC.
You have to be kidding me. What can you expect? This dead horse is crying.
Your will study, attend meetings, take tests, and go get clients.
IF you did not learn enough during your study and meeting time you will
not be able to deliver meaningful value to your prospects and this will
become very clear. If you have learned enough in your studies and
meetings, and have natural sales skills, you will be launched into a
What you are looking for is a detailed outline which does not exist. Just go foir it and get ready to work very hard.
[quote=choida]It says right in the POA material that if you get one try for the 7 and 66, and if you don''t pass you are gone. What about the life and health insurance exam? Is this the same way. If you don't pass it on the first try you are gone? Why do they not give you a second try on these exams? I mean they could just take it out of your check correct? I just want to know more about these exams, and the severity of passing them so quickly and a "one shot deal" with Merrill.[/quote]
I’m in the first track of the POA program. So far I’ve passed the 7 and 66. I work in a state where they require that you attend 55-hours of pre-license education for a life and health license. I’m currently attending those classes at a “school” that boasts a 94% pass rate. The vast majority of those in the class are soon to be insurance salespeople who I’d be surprised if they had anything past a 2-year community college degree. If they can pass the exam then someone able to land a job at ML should definitely be able to pass the exam. The hardest part for me will be surviving the 55-hours that I have to be in the same room as these morons.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Don’t focus on failing. Anyone who puts forth a decent amount of effort will pass these exams.