New Mexico Property & Casualty Insurance License Exam — All Questions
2 questions
How much continuing education (CE) must a resident producer complete to renew a New Mexico license, according to the Office of Superintendent of Insurance?
- a.12 total hours with no ethics requirement
- b.24 total hours, including 3 hours of ethics (21 general + 3 ethics)✓
- c.40 total hours, all ethics
- d.No CE is required in New Mexico
Per the New Mexico OSI (osi.state.nm.us), a resident producer must complete 24 CE credit hours total before renewing, comprising 21 general hours and 3 ethics hours. OSI recommends finishing at least 90 days before expiration; late completion can trigger penalties and a new background check.
After a producer is licensed in New Mexico, what must occur before they can transact business for a particular insurer?
- a.Nothing further once the license is issued
- b.The insurer must appoint the producer and file the appointment with the New Mexico OSI✓
- c.The producer must post a surety bond with the state treasurer
- d.The producer must relocate to the insurer's home state
A license lets a person act as a producer, but to represent a specific company the insurer must appoint the producer and file the appointment with OSI. A producer may hold appointments from several insurers at once.