State RegulationsMI specificDifficulty 2/5
An applicant for a Michigan life producer license seeks a waiver of the pre-licensing education requirement. Which of the following satisfies that waiver?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
M.C.L. 500.1204(5) waives the pre-licensing education requirement for applicants holding approved professional designations — including CLU, CPCU, CIC, ChFC, CFP, FLMI, RHU and others — as well as for applicants with relevant college insurance degrees or a prior Michigan license in the same line surrendered within 12 months. The designations signal insurance expertise that substitutes for the classroom hours.
Why the other options are wrong
- A) Only relevant college insurance degrees qualify under M.C.L. 500.1204(5), not a degree in any field.
- C) No letter of recommendation is a recognized waiver ground in the Michigan Insurance Code.
- D) Office experience is not among the statutory waivers listed in M.C.L. 500.1204(5).
Memory hook
CLU or CFP in hand? Skip the pre-licensing course.