Massachusetts CE Requirements

Resident Requirements

Licensees must complete 60 hours of continuing education during the first three years of licensure.

Licensees must complete 45 hours of continuing education credit every three years after the initial 3 year period.

This state has issued a notice reminding licensees who sell flood insurance of their requirement to comply with the minimum training requirements established FEMA and the Natl. Flood Insurance Program.

All producers who wish to market and sell variable life and variable annuity products in the Commonwealth, including group variable products, must be licensed to do so. The licensing prerequisites for these lines of authority are: (1) the producer must have successfully passed a life insurance examination; (2) the producer must have successfully passed the FINRA (formerly NASD) Series 6 or Series 7 examinations; (3) the producer must be actively licensed and in good standing with FINRA; (4) the producer must possess a valid FINRA Central Registration Depository ("CRD") number; and (5) the producer must be affiliated with a registered broker/dealer who also is in good standing with FINRA.

Producers are required to identify their CRD numbers on their licensing applications. The identification of this number serves as the producer's attestation that he/she has met all of the five requirements detailed above. The producer has an ongoing obligation to ensure that all five of these requirements remain current and valid.

Long-Term Care Training

Massachusetts requires an insurer-developed training course prior to selling.

Non Resident Requirements

Non-residents who comply with CE reqs.of the resident state, are exempt from MA CE reqs.

Exemptions

Professional Designation

Producers who have met continuing education requirements for PACE and CPD-L have automatically met the continuing education requirement.

Education

Individuals acting as instructors for continuing education courses receive the same amount of CE credit as his or her students receive for taking the class. Can only receive credit for teaching once per triennium.

Age and Experience

Individuals licensed in MA prior to 4/5/83 are exempt from continuing education unless new lines of authority were added after that date.

Proctor/Monitor Requirements

Print Requirements

Print Exams must be monitored by a disinterested third party. A disinterested third party certifies that the licensee completed the exam without assistance (i.e., closed book, no tiling/layering of screens, etc.) and is someone who has no financial interest in the success or failure of the student's ability to maintain their license. Give the monitor the sealed exam envelope. The monitor completes the Declaration of Compliance on the back of the answer sheet and forwards all exam materials to Kaplan. Faxed Declaration of Compliance form is not accepted, must mail the original to Kaplan.

Online Requirements

Online Exams must be monitored by a disinterested third party. A disinterested third party certifies that the licensee completed the exam without assistance (i.e., closed book, no tiling/layering of screens, etc.) and is someone who has no financial interest in the success or failure of the student's ability to maintain their license. The monitor must print and complete the Declaration of Compliance from the website and mail signed document to Kaplan. Faxed Declaration of Compliance form is not accepted, must mail the original to Kaplan.

Reporting Requirements

Report within 30 days of completion. Need Agent's license number and state filing fees ($.50 per credit hour). Weekly reporting.

State Reporting Fees

The MA Department of Insurance requires a course reporting fee of $.50 per credit hour (online, self-study and classroom courses). This state reporting fee will be automatically charged to you (on the credit card used to place your order) each time you complete an online, self-study, or classroom course.

Period Criteria Requirements

Massachusetts resident licensees must complete their CE requirements before the original license issuance anniversary date every three years.

Carryover Criteria Requirements

A maximum of 45 hours of classroom may be carried over to the next compliance period.

Course Repetition

Courses may not be repeated within a 3 year period.

Acceptable Training Methods

CORRESPONDENCE (PRINT)

COMPANY SEMINARS

CLASSROOM

CBT/CD-ROM (COMPUTER-BASED TRAINING)

Notice

This information is based on state laws and regulations and is subject to change. Kaplan Financial Education makes every effort to make sure this information is current and accurate, however, Kaplan Financial Education is not engaged in rendering legal or professional advice and shall not be held responsible for inaccuracies contained herein.