C.R.S. Section 10-2-402
License examination requirement


(1)

Unless exempt pursuant to section 10-2-403, a resident individual applying for an insurance producer license shall pass a written examination. The examination shall reasonably test the individual applicant’s minimum acceptable level of competence as to the particular line or lines of authority for which the individual applicant seeks qualification, unless an individual applicant has been licensed as an insurance producer for the same line or lines of authority in another state within the twelve months immediately preceding the date of receipt of application and files with the commissioner a letter of clearance, issued by the public official having supervision of insurance in the applicant’s former state of residence, stating the individual held a license for the same line or lines of authority during such twelve-month period and that the license was in good standing.

(2)

Examination for licensing shall be held at such reasonable times and places as are designated by the commissioner, and such times and places shall be made public.

(3)

Intentionally left blank —Ed.

(a)

Each individual applying for an examination shall remit a nonrefundable fee as prescribed by the commissioner in accordance with section 10-2-413.

(b)

The application for examination shall request the applicant to provide the following information:

(I)

The applicant’s name, age, residence address, business address, and mailing address;

(II)

The name of any required prelicensing course he or she has completed or is in the process of completing;

(III)

The method by which the applicant intends to qualify for the license if other than completing a prelicensing course;

(IV)

The highest level of education achieved by the applicant; and

(V)

The applicant’s gender, native language, and race or ethnicity; except that the application shall contain a statement that an applicant is not required to disclose his or her gender, native language, or race or ethnicity, that he or she will not be penalized for not doing so, and that the department will use this information exclusively for research and statistical purposes and to improve the quality and fairness of the examinations.

(c)

No later than six months after August 5, 2008, and annually thereafter, the commissioner shall prepare and publish a report that summarizes statistical information relating to insurance producer examinations administered during the preceding calendar year. The report shall include the following information for all examinees combined and separately by race or ethnicity, gender, race or ethnicity within gender, education level, and native language:

(I)

The total number of examinees;

(II)

The percentage and number of examinees who passed the examination;

(III)

The mean scaled scores on the examination; and

(IV)

Standard deviation of scaled scores on the examination.

(d)

If the commissioner arranges to have the examinations for licensure administered by an independent testing service pursuant to section 10-2-402 (5), the commissioner may provide demographic information to the testing service if the commissioner requires the independent examiner to review and analyze examination results in conjunction with the gender, native language, education level, and race or ethnicity of the examinees.
(4)(Deleted by amendment, L. 2001, p. 1195, § 9, effective January 1, 2002.)(5) The commissioner shall give, conduct, and grade all examinations, or the commissioner may arrange to have examinations administered and graded by an independent testing service, as specified by contract, in a fair and impartial manner and without discrimination as to individuals examined. The commissioner may arrange for such testing service to recover the cost of the examination from the applicant.

(6)

There shall be a separate portion of the examination required for each line of insurance which the applicant proposes to transact under the license.
(7)(Deleted by amendment, L. 2001, p. 1195, § 9, effective January 1, 2002.)(8) An individual who fails to pass an examination shall remit the required fee and any forms required to retake the failed examination.

(9)

An individual who fails to appear for a scheduled examination shall remit the required fee and any forms required to reapply to take the examination.

(10)

Applicants for life, health coverages, property, or casualty examinations shall comply with prelicensure education requirements as prescribed in section 10-2-201 prior to taking the written examination.

(11)

An insurance producer license issued on or before January 1, 2002, for health maintenance organizations (“HMO”) or nonprofits may be renewed or continued until the licensee fails to meet the requirements of this part 4.

Source: Section 10-2-402 — License examination requirement, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

10‑2‑101
Short title
10‑2‑102
Scope - applicability
10‑2‑103
Definitions
10‑2‑104
Authority of commissioner - rules
10‑2‑105
Insurance producer - exemptions from definition
10‑2‑201
Prelicensure education - when required
10‑2‑202
Exemption from prelicensure education requirements
10‑2‑203
Course certification, registration, and review by commissioner
10‑2‑301
Continuing education requirement - rules
10‑2‑401
License required
10‑2‑402
License examination requirement
10‑2‑403
Exemption from license examination
10‑2‑404
Application for license
10‑2‑405
Residency - individuals - agencies
10‑2‑406
Licensing of agencies
10‑2‑407
License - definitions of lines of insurance - authority
10‑2‑408
License - contents - continuation due date
10‑2‑409
License - amendment - reissuance
10‑2‑410
Temporary licensing
10‑2‑411
Duplicate license
10‑2‑412
Change of address - notification
10‑2‑413
Fees
10‑2‑414
Additional lines of authority - application for license
10‑2‑414.5
Travel insurance - limited lines license - travel insurance producers - definitions
10‑2‑415.5
Appointment of insurance producer - continuation - renewal - exceptions
10‑2‑415.7
Termination of insurance producer bail bonding agent - notice - penalty
10‑2‑416
Notification to the commissioner of termination
10‑2‑416.5
Required availability to commissioner of list of producer appointees for enforcement purposes
10‑2‑417
Public insurance adjusters - license required - financial responsibility - standards of conduct - rules
10‑2‑418
Bail bonding authority
10‑2‑501
Reciprocity
10‑2‑502
Nonresident licensing - qualification
10‑2‑503
Commissioner as agent for service of process
10‑2‑601
Financial institutions may sell insurance - where - regulation
10‑2‑602
Sale of annuities and insurance by financial institutions - certain tying arrangements prohibited
10‑2‑603
Bank sale of annuities - disclosure requirements
10‑2‑604
Disclosures
10‑2‑605
Misleading advertising
10‑2‑606
Discrimination against affiliated agents
10‑2‑607
Location of sales
10‑2‑701
Assumed names - registration - rules
10‑2‑702
Commissions
10‑2‑704
Fiduciary responsibilities
10‑2‑705
Bail bond documents - requirements - rules
10‑2‑706
Insurance producer designee - responsibility
10‑2‑707
Business practices - price limits - collateral
10‑2‑801
Licenses - denial, suspension, revocation, termination - reporting of actions - definitions
10‑2‑802
Surrender of license
10‑2‑803
Notice of penalty, suspension, termination, revocation, or denial
10‑2‑804
Investigation by commissioner
10‑2‑901
Short title
10‑2‑902
Definitions
10‑2‑903
Licensure
10‑2‑904
Required contract provisions - reinsurance intermediary-producers
10‑2‑905
Books and records - reinsurance intermediary-producers
10‑2‑906
Duties of insurers utilizing the services of a reinsurance intermediary-producer
10‑2‑907
Required contract provisions - reinsurance intermediary-managers
10‑2‑908
Prohibited acts
10‑2‑909
Duties of reinsurers utilizing the services of a reinsurance intermediary-manager
10‑2‑910
Examination authority
10‑2‑911
Penalties and liabilities
10‑2‑912
Rules and regulations
10‑2‑1001
Short title
10‑2‑1002
Definitions
10‑2‑1003
Licensure
10‑2‑1004
Required contract provisions
10‑2‑1005
Duties of insurers
10‑2‑1006
Examination authority
10‑2‑1007
Penalties and liabilities
10‑2‑1008
Rules and regulations
10‑2‑1101
Effective date - applicability
Green check means up to date. Up to date

Current through Fall 2024

§ 10-2-402’s source at colorado​.gov