If you have a clearance letter from your previous state that lists your qualifications, you may take the clearance letter to the exam site with your other forms on your test date. You do not need to obtain a waiver.
If you possess a concentration of credits in insurance from an accredited college, or if you hold an insurance professional designation (CLU, ChFC, CPCU, AAI, or CIC), you may waive prelicensing by applying for a waiver from the Michigan Insurance Bureau prior to sitting for the examination.