Olivia has held a resident insurance producer license for four years and is reviewing her compliance obligations ahead of her upcoming biennial renewal. Under standard state insurance regulations, which of the following statements regarding her license maintenance and continuing education (CE) are correct? (Select all that apply.)
- She must complete a mandated number of continuing education hours, which includes a specific minimum number of hours dedicated to ethics training.Answer
- If her license lapses due to a failure to complete CE requirements on time, she typically has up to 12 months to reinstate the license without retaking the written examination.Answer
- CIf she moves her primary residence to a new address within the state, she has up to 90 days to officially notify the Department of Insurance of this change.
- DIf she holds a non-resident license in another state, she must complete a separate set of CE courses specifically mandated by that non-resident state.
Answer
The correct statements are that she must complete a minimum number of ethics hours as part of her CE, and that she has up to 12 months to reinstate a lapsed license without retaking the exam.
The correct statements accurately reflect standard NAIC model regulations: continuing education mandates always include a specific ethics requirement, and a lapsed license can be reinstated within a 12-month window without an exam if late penalties are paid and CE is completed.
Step-by-Step Solution
Key Concept
License Maintenance, Continuing Education, and Reinstatement