(1) An individual applying for a resident insurance producer license must pass a written examination unless the individual is exempt from the prelicensing education and examination requirement as provided in ORS § 744.067. The examination must test the knowledge of the individual concerning the class or classes of insurance for which application is made, the duties and responsibilities of an insurance producer and the insurance statutes and rules of this state. Except as provided in subsection (2) of this section, the examination required by this section shall be developed and conducted by the Director of the Department of Consumer and Business Services. An individual may apply for a resident insurance producer license only if the individual has established in this state a residence or a place of business for acting as an insurance producer.

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(2) The director may make arrangements, including contracting with a private testing service, for developing and administering the examination and collecting applicable fees.

(3) Each individual applying to take an examination shall pay fees as established by the director.

(4) An individual who fails to appear for the examination as scheduled or fails to pass the examination may reapply to take the examination according to requirements and procedures established by the director by rule. [2001 c.191 § 5; 2003 c.364 § 5]