http://www.intothyword.org/apps/articles/default.asp?blogid=3801&view=post&articleid=31561&link=1&fldKeywords=&fldAuthor=&fldTopic=0
The Forth Step of Inductive Bible Study is Asking, "What Does This Passage Mean?"
Inductive Bible Study helps us study with a plan: consecutive reading, book study, topical study, and verse-by-verse. When observing we first ask what it says, then and only then can we examine what it means. This is the crucial step we have to undertake before we apply it to our lives. There are no easy ways out, or shortcuts to understanding any great works of literature, especially God's Word!
http://www.intothyword.org/apps/articles/default.asp?blogid=3801&view=post&articleid=31560&link=1&fldKeywords=&fldAuthor=&fldTopic=0
The Third Step of Inductive Bible Study is Asking, "What Does this Passage Say?"
Observation is taking a careful look of what is going on. And we have to know what is going on before we can act on a plan or action. Bible students must know the Word themselves before they can teach it. Start with the simple questions and as you progress you will start to see more and ask more. Not every question will apply to every passage, perhaps only a couple will out of dozens. Remember, these are just tools; He is the means and reason why we study.