LANSING – Michigan Insurance Commissioner Frank M. Fitzgerald announced that effective October 1, 1999, the cost of taking an insurance agent licensing examination in Michigan will decrease from $75 to $60 per examination. This 20% reduction in examination cost was achieved as a result of a new six year contract negotiated by the Bureau and its exam administrator, Assessment Systems, Inc. (ASI), a professional test development and administration service.

"ASI provides a valuable service to the Insurance Bureau and the Michigan insurance consumer by developing and administering accurate agent licensing exams," Fitzgerald said. "I am very pleased that the Bureau will continue to utilize ASI's expertise while offering this valuable licensing examination at a reduced price".

As part of its contractual obligation with the Bureau, ASI produces and administers an agent licensure examination designed to measure the professional and occupational competence of the applicant in the field of insurance. Examinations are offered at test sites in Lansing, Redford and Marquette. The Lansing site offers exams twice a day Monday through Saturday. Individuals who successfully complete the examination and satisfy all other licensure requirements receive their license from the Michigan Insurance Bureau either immediately following completion of their examination or in the mail a few days later, depending on where and when they take the examination.

In 1998, the examination was administered in Michigan to 16,128 candidates resulting in 12,915 agents successfully gaining licensure.

The Michigan Insurance Bureau, an agency within the Department of Consumer and Industry Services, is the primary regulator for approximately 73,000 insurance agents. The Bureau is 100% fee-funded, requiring no public tax dollars for its supervisory, regulatory, licensing, and enforcement activities.