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Melissa, the Insurance Exam Queen, discusses key components of an insurance policy relevant for the property and casualty (P&C) exam, emphasizing their significance in both Prometric and Pearson test formats. She advises candidates to identify their testing service by researching their state's insurance exam schedule, which will lead them to either a Prometric or Pearson website. Additionally, she mentions that PSI exams also align with the content structure of Prometric or Pearson. Understanding these policy parts is crucial as they constitute a major section of the examination for most test-takers.