§ 10-2-403 — Exemption from license examination

Colorado § 10-2-403

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Licenses

Text

(1) The following
applicants shall be exempt from the written examination requirements set forth in
section 10-2-402:

(a) An individual who applies for an insurance producer license in this state
who was previously licensed for the same lines of authority in this state or another
state shall not be required to complete any prelicensing education or examination.
This exemption is only available to a nonresident applicant if:

(I) (A) The person is currently licensed in his or her home state for the same
line or lines of authority; or

(B) The application is received within twelve months after the cancellation of
the applicant's previous license; and

(II) (A) The prior state issues a certification that, at the time of cancellation,
the applicant was in good standing in that state; or

(B) The state's producer database records, maintained by the national
association of insurance commissioners or its affiliates or subsidiaries, indicate that
the producer is or was licensed in good standing for the line of authority requested.

(b) An individual applicant for a health maintenance organization or nonprofit
hospital representative producer license or a travel-ticket-selling insurance
producer license to solicit, procure, and deliver accident and health or travel
baggage insurance policies offered by a life, casualty, or multiple-line insurer
licensed in this state;

(b.5) A person licensed as an insurance producer in another state who moves
to this state shall make application within ninety days after establishing legal
residence to become a resident licensee pursuant to section 10-2-404. No
prelicensing education or examination shall be required of that person to obtain any
line of authority previously held in the prior state except where the insurance
commissioner determines otherwise by regulation.

(c) An individual applicant who holds the designation of chartered life
underwriter (CLU); except that such individual is not exempt from that portion of
the examination pertaining to Colorado laws and rules pertinent to life insurance
and health coverage insurance;

(d) An individual applicant who has attained the designation of chartered
property and casualty underwriter (CPCU); except that such individual is not
exempt from taking that portion of the examination pertaining to Colorado laws and
rules pertaining to property, casualty, or health coverage;

(e) A nonresident individual applicant who is in compliance with section 10-2-501 (1)(a);

(f) A licensed life insurance producer applicant for a variable contracts
license who is in compliance with the qualification requirement in section 10-2-407;

(g) An individual applicant who holds the designation of chartered financial
consultant (ChFC); except that such individual is not exempt from that portion of
the examination pertaining to Colorado laws and rules pertinent to life insurance
and health coverage insurance;

(h) An individual applicant who holds the designation of registered health
underwriter (RHU); except that such individual is not exempt from that portion of
the examination pertaining to Colorado laws and rules pertinent to life insurance
and health coverage insurance.

Legislative History

Source: L. 93: Entire article R&RE, p. 1357, � 1, effective January 1, 1995. L. 95: (1)(c) amended, p. 90, � 3, effective March 30. L. 2001: (1)(a) and (1)(f) amended and (1)(b.5), (1)(g), and (1)(h) added, p. 1196, � 10, effective January 1, 2002. L. 2003: IP(1) amended, p. 1982, � 6, effective May 22.