Insurance Exam Waiver
A person licensed as an insurance producer in another state who moves to this state shall apply within ninety days of establishing legal residence to become a resident insurance producer. No examination shall be required of that person to obtain any line of authority previously held in the prior state except where the superintendent determines otherwise by rule.
An individual who was previously licensed for the same lines of authority in another state shall not be required to take an examination. This exemption is only available if the application is received within ninety days of the cancellation of the applicant’s previous license and if the prior state issues a certification that, at the time of cancellation, the applicant was in good standing in that state or the state’s insurance producer database records, maintained by the national association of insurance commissioners, its affiliates or subsidiaries, indicate that the insurance producer is or was licensed in good standing for the line of authority requested.
Requirements for requesting Exam Waiver
To qualify for a license based on the Insurance Exam Waiver, an applicant must meet all of the following requirements:
- Become a resident of New Mexico
- Has held a valid resident license with the equivalent line(s) of authority prior to applying for a New Mexico license
- Submit a written request detailing the state where licensed, what exam was taken and when the licenses were issued
- Submit the license application and pay the appropriate fees within 90 days of becoming a resident of New Mexico
- Submit a copy of the fingerprint receipt. See Fingerprint Requirements
How to Apply for the Insurance Exam Waiver and License
When applying for the insurance exam waiver and license, you must submit all of the following to the Producer Licensing Bureau:
- Written request
- License application
- License fee made payable to OSI
- Fingerprint receipt