Ala. Admin. Code r. 482-1-148-.06

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-148-.06 - Title Insurance Agent Examinations

(1)

(a) Except as provided in paragraph (2), all individuals must successfully pass an examination prior to becoming licensed as a title insurance agent.

(b) An outline of the examination will be posted on the Department's Web site setting forth the number of questions on the examination from each test section and the time allowed within which to complete the examination.

(2) An individual is exempt from the examination requirement only as follows:

(a) If, on or before March 31, 2013, the individual can establish to the satisfaction of the commissioner that from January 1, 2 008, to December 31, 2012, the individual was an authorized signatory for title commitments, title insurance policies, and title insurance policy endorsements on behalf of a title insurer properly authorized to conduct the business of title insurance in this state.

(b) The individual was previously licensed as a title insurance agent in this state after having passed the examination or being exempt from the examination under paragraph (a), but only if the application is received within twelve (12) months of the cancellation of the individual's previous license and if, at the time of the cancellation, the individual was in good standing with this department.

(3) Examination Passing Grade.

(a) Prior to an examination, each question will be valued with the sum of the values equaling 100.

(b) After an examination, the value of each question answered correctly will be counted and the sum of the values totaling 70 or more shall constitute a passing grade.

(4) Limitations on Repeat Examinations.

(a) If an individual takes and fails to pass two examinations, the individual must wait a minimum of ninety (90) days after the last failure before the individual can again take the examination.

(b) If an individual thereafter fails the examination two additional times, the individual must wait a minimum of one hundred eighty (180) days after the last failure before each subsequent examination.

(c) The waiting periods described in paragraphs (a) and (b) expire twenty-four (24) months after the date of the last failed examination.

(5) An individual passing an examination will be furnished an examination results certificate by the examination administrator. This certificate must be kept by the individual and presented to Department of Insurance upon request.

(6) Examination results certificates are valid for one year from the date of issuance.

(7) An individual shall pay a non-refundable fee of $75 for each examination scheduled.

Ala. Admin. Code r. 482-1-148-.06

New Rule: October 18, 2012; effective January 1, 2013. Filed with LRS October 18, 2012. Rule is not subject to the Alabama Administrative Procedure Act.

Author: Commissioner of Insurance

Statutory Authority:Code of Ala. 1975, §§2 7-5-4, et seq. (2012), 27-25-8 (2001).