Current through Register Vol. 43, No. 02, November 27, 2024
(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.
Author: Commissioner of Insurance
Statutory Authority:
Code of Ala.
1975, §§2 7-5-4, et seq. (2012), 27-25-8 (2001).