Arizona Health Insurance Practice Exam

How long must a producer wait to re-apply for a license after surrendering it?

1. Six months

2. One year

3. Two years

4. Five years

The correct answer is: One year

In Arizona, if a producer surrenders their license, they must wait one year before reapplying for it. This policy is designed to ensure that producers take the time necessary to address any issues that may have led to the surrender, promoting a more responsible practice within the insurance industry. This waiting period allows both the producer and the regulatory body to reflect on the circumstances surrounding the license surrender and to ensure that any necessary changes or improvements are made before the individual can operate again in the insurance market. Understanding this timeframe is crucial for anyone in the insurance field, as it emphasizes the importance of maintaining compliance and ethical standards in the profession.