Texas Licensing Requirments

Question 1

Life insurance producers who want to sell annuities must

Answer 1

Certification Course:
* 4 hours

Continuing Education:
* 4 hours

CE Recency:
* within 12 months of every license renewal

Question 2

Life and health insurance producers who want to sell Medicare-related products must

Answer 2

Certification Course:
* 8 hours

Continuing Education:
* 4 hours

CE Recency:
* During each license term before renewing license

Question 3

Requirements for Producers Selling Long-Term Care Partnership Plans

Answer 3

Certification Course:
* 8 hours

Continuing Education:
* 4 hours

CE Recency:
* During every 2-year renewal period

Producers must keep a record of LTC CE course completion for 4 years.

Question 4

A person must comply with these requirements to become a licensed agent for an insurer or health maintenance organization:

Answer 4

1. Be at least 18
2. Pass the licensing exam w/in past 12 months
3. Have not commited an act for which a license may be denied
4. Submit an applicatin, fees, and any other info requried by TDY (including fingerprints)

Question 5

What must an individual desiring to sell variable life and annuity products, (which are regarded as securities) must have?

Answer 5

A FINRA Series 6 or Series 7 license.

Question 6

What must an individual have in order to transact insurance type business in the state of Texas?

Answer 6

• be licensed as an agent by TDI
• And hold an appointment from an insurance company or HMO

Question 7

Can agents hold more than one license of the same type?

Answer 7

NO

Question 8

Renewing license that has been expired < 90 days:

Answer 8

Expired < 90 days:
* File renewal application
* Pay 1.5 times renwal fee ($75)

Question 9

Reinstating a license that has been expired between 90 days and a year:

Answer 9

Expired >90 days, <1 Year:
* File renewal application
* Pay 1.5 times renwal fee ($75)
* Does not have to take test

Question 10

Renewing a license that has been expired for over a year:

Answer 10

Go through the steps to obtaining a new license to inlcude the test

Question 11

CE requirement for resident producers

Answer 11

24 hours of CE per 2-year licens renewal cycle
* 15 hours (max) self study
* 3 hours must be in ethics

Question 12

CE requirement for holders of limited lines and county mutual & life insurance licenses

Answer 12

10 hours of CE per 2-year licens renewal cycle
* 5 hours (max) self study
* 3 hours must be in ethics

Question 13

CE requirement for producers who hold more than one license for which CE is required

Answer 13

15 hours annually
(30 hours per 2-year license renewal cycle)

Question 14

How long must producers keep records of a CE course?

Answer 14

Four years
or
As long as TDI has told them they are subject to audit

Question 15

Term: Twisting

Answer 15

Illegally inducing a policyowner to lapse or to cancel existing insurance for the purpose of replacement

Question 16

Term: Rebate

Answer 16

The giving of anything of significant value to induce someone ot buy insurance.
Includes payment for referrals to non-license people.

Question 17

Term: Controlled Business

Answer 17

Not actively engaged in soliciting or writing insurance for the general public but instead sells primarily to family or business associates

Question 18

If license is revoked or application denied, soonest reapply date

Answer 18

5 years after date of denial

Question 19

When does a producer’s license expire?

Answer 19

On the last day of the producer’s birth month every two years