375.016. Examination required for insurance producer's license.
Examination required for insurance producer's license.
375.016. 1. A resident individual applying for an insurance producerlicense shall pass a written examination unless exempt pursuant tosubsection 5, 6 or 7 of this section. The examination shall test theknowledge of the individual concerning the lines of authority for whichapplication is made, the duties and responsibilities of an insuranceproducer and the insurance laws and regulations of this state.Examinations required by this section shall be developed and conductedpursuant to the rules and regulations prescribed by the director.
2. The director may make arrangements, including contracting with anoutside testing service, for administering examinations.
3. Each individual applying for an examination shall remit anonrefundable fee as prescribed by the director.
4. An individual who fails to appear for the examination as scheduledor fails to pass the examination may reapply for an examination and shallremit all required fees and forms before being rescheduled for anotherexamination.
5. An individual who applies for an insurance producer license inthis state who was previously licensed for the same lines of authority inanother state shall not be required to complete any examination. Thisexemption is only available if the person is currently licensed in thatstate or if the application is received within ninety days of thecancellation of the previous license and if the prior state issues acertification that, at the time of cancellation, the applicant was in goodstanding in that state. The director may also verify that the applicant isor was licensed in good standing for the lines of authority requestedthrough the producer database records, maintained by the NationalAssociation of Insurance Commissioners, its affiliates or subsidiaries, orany other method the director deems appropriate.
6. An individual licensed as an insurance producer in another statewho moves to this state shall make application within ninety days ofestablishing legal residence to become a resident insurance producerpursuant to subsection 1 of this section. No examination shall be requiredof that person to obtain any line of authority previously held in the priorstate except where the director determines otherwise by regulation.
7. Individuals applying for limited lines producer licenses shall beexempt from examination.
(L. 1965 p. 569, A.L. 1967 p. 516, A.L. 1981 S.B. 10, A.L. 2001 S.B. 193)Effective 1-01-03