38.2-1817 - Examination for license; fee required; when fee forfeited.
§ 38.2-1817. Examination for license; fee required; when fee forfeited.
A. Examinations for licenses shall be conducted at least monthly at the timesand places the Commission prescribes. Each applicant shall pass theexamination prescribed by the Commission unless otherwise exempted.
B. If a resident individual applicant fails three times to pass theexamination, the applicant shall be required to wait thirty calendar daysbefore the applicant may retake the examination.
C. An individual who has been awarded the designation of Chartered Propertyand Casualty Underwriter shall be exempt from the examination requirements ofthis article for a property and casualty insurance license or a personallines license. An individual who has been awarded the designation ofChartered Life Underwriter shall be exempt from the examination requirementsfor a life and annuities license or a health license. However, no individualshall be exempt from the requirement to submit the application and pay thefee required by § 38.2-1819.
D. Each applicant for an examination shall make application in the form andcontaining the information the Commission prescribes.
E. Each applicant shall, at the time of applying to take the examination, paysuch fee as may be prescribed by the Commission and in a manner prescribed bythe Commission. The prescribed examination fee shall not be less than $20 normore than $100. The examination fee shall be nonrefundable.
F. If the applicant fails to take the examination within ninety calendar daysfrom the date his registration for the examination is accepted, theexamination fee shall be forfeited and the registration shall be consideredwithdrawn.
G. If the applicant fails to obtain the appropriate license from theCommission within 183 calendar days from the date he passes the examination,the examination grade shall be considered invalid and the examination fee andapplication processing fee shall be forfeited. Such applicant shall berequired to reapply for the examination and to satisfy any appropriateprelicensing requirements.
H. An individual who applies for a resident insurance agent's license in thisCommonwealth who was previously licensed for the same lines of authority inthe individual's home state shall not be required to complete anyprelicensing examination. This exemption is only available if the individualis currently licensed in the applicant's home state, or if the application isreceived within ninety calendar days of the cancellation of the applicant'sprevious license in the applicant's home state, and if the applicant's homestate issues a certification that, at the time of cancellation, the applicantwas in good standing in that state or the state's Producer Database records,maintained by the NAIC, its affiliates or subsidiaries, indicate that theproducer is or was licensed in good standing for the line of authorityrequested.
(1979, c. 513, § 38.1-327.17; 1985, c. 616; 1986, c. 562; 1987, c. 521; 1989,c. 435; 1990, c. 464; 1999, c. 86; 2001, c. 706.)