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In this tutorial, Melissa, the Insurance Exam Queen, discusses the essential components of an insurance policy relevant for exam preparation. She explains that understanding policy parts is crucial for both the Prometric and Pearson exams. To determine which exam to take, candidates can search for their state's insurance exam, like New York, to find out whether it is hosted by Pearson or Prometric. If PSI is listed, it usually aligns with either Pearson or Prometric's guidelines. She emphasizes that this topic is significant for candidates, especially those preparing for the property and casualty exam.