Ala. Admin. Code r. 482-1-147-.06
Current through Register Vol. 43, No. 1, October 31, 2024
Section 482-1-147-.06 - Insurance Producer Examination(1)(a) Except as provided in paragraph (3), all individuals must successfully pass an examination prior to becoming licensed as an insurance producer for the following lines of authority: (b) An outline for each examination will be posted on the Department's Web site setting forth the number of questions on the examination from each test section and the time allowed within which to complete the examination.(2) Unless otherwise exempt, an insurance producer whose license has expired or has otherwise been terminated and has not been in effect for twelve (12) consecutive calendar months must successfully pass the applicable examination(s), as required in paragraph (1), in order to again become licensed.(3) The examination requirements shall not apply as follows: (a) All applicants for a license to transact only the following lines of authority are exempt from the requirements of this rule:1. Variable Life and Variable Annuity Products.10. Self-Service Storage Facility.(b) An individual licensed as an insurance producer in another state is exempt from successfully passing an examination in order to apply for an Alabama producer license with the same line(s) of authority if, at the time of application, the individual's out-of-state license is current or was cancelled within ninety (90) days before the application and the individual is in good standing in that state or in the state's producer database records as maintained by the NAIC.(c) An individual currently licensed as an insurance producer (or its equivalent) in another state is exempt from successfully passing an examination in order to apply for a nonresident producer license in Alabama with the same line(s) of authority if the individual is in good standing in that state or in the state's producer database records as maintained by the NAIC.(4) Examination Passing Grade. (a) Prior to an examination, each question will be valued with the sum of the values equaling 100.(b) After an examination, the value of each question answered correctly will be counted and the sum of the values totaling 70 or more shall constitute a passing grade.(5) Limitations on Repeat Examinations. (a) If an individual takes and fails to pass two examinations for a particular line of authority, the individual must wait a minimum of ninety (90) days after the last failure before the individual can again take the examination for that line of authority.(b) If an individual thereafter fails the examination two additional times, the individual must wait a minimum of one hundred eighty (180) days after the last failure before each subsequent examination for that line of authority.(c) The waiting periods described in paragraphs (a) and (b) expire twenty-four (24) months after the date of the last failed examination.(d) For purposes of applying the waiting periods in the context of examinations on related lines of authority:1. The waiting periods relating to the life examination and the health examination apply also to the combined life and health examination.2. The waiting periods relating to the combined life and health examination apply also to the life examination and to the health examination.3. The waiting periods relating to the property examination apply also to the personal lines examination and the combined property and casualty examination.4. The waiting periods relating to the casualty examination apply also to the personal lines examination and the combined property and casualty examination.5. The waiting periods relating to the combined property and casualty examination apply also to the personal lines examination, the property examination, and the casualty examination.6. The waiting periods for the personal lines examination apply also to the personal lines examination, the property examination, the casualty examination, and the combined property and casualty examination.(6) An individual passing an examination will be furnished an examination results certificate by the examination administrator. This certificate must be kept by the individual and presented to Department of Insurance upon request.(7) Examination results certificates are valid for one year from the date of issuance.(8) An individual shall pay a non-refundable fee as indicated below for each examination scheduled: (c) Combined Life and Health $75.00(f) Combined Property and Casualty $75.00(g) Personal Lines $50.00Ala. Admin. Code r. 482-1-147-.06
New Rule: October 18, 2012; effective January 1, 2013. Filed with LRS October 18, 2012. Rule is not subject to the Alabama Administrative Procedure Act.Amended by Alabama Administrative Monthly Volume XXXIII, Issue No. 11, August 31, 2015, eff. 1/1/2016.Amended by Alabama Administrative Monthly Volume XXXVII, Issue No. 02, November 30, 2018, eff. 11/17/2018.Amended by Alabama Administrative Monthly Volume XLI, Issue No. 10, July 31, 2023, eff. 1/1/2024.Author: Commissioner of Insurance
Statutory Authority:Code of Ala. 1975, §§ 27-2-17, 27-7-4.3, 27-7-5, 27-7-23, 27-7-24, 27-7-30, 27-7-43.