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Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

South Dakota Insurance Continuing Education (CE) Requirements

Effective July 1, 2012, an insurance producer who engages in the sale of annuity products must complete a one-time 4 hour approved training course.

Producers who hold a life license and desire to sell annuities are required to complete the one-time, four hour training course six months after the effective date of this requirement. Producers who obtain a life license may not sell an annuity product until the training is completed.

Producers may complete the one-time, four hour requirement through either classroom or self-study methods. The satisfaction of the training requirements of another state that are substantially similar to the South Dakota requirements shall be deemed to satisfy the requirement in South Dakota.

Producers must complete an initial training course prior to selling long-term care products and ongoing training every 24 months thereafter. The initial training must consist of 8 hours; ongoing training must be at least 4 hours. The training requirement applies to both residents and nonresidents, although nonresidents meeting the same requirement for another state will satisfy this state’s requirement, provided nonresidents are familiar with South Dakota LTC laws. Residents may earn CE credit if the training was approved for CE.

This state has issued a notice reminding licensees who sell flood insurance of their requirement to comply with the minimum 3 hours of training requirements established by FEMA and the National Flood Insurance Program.

Resident Requirements

Licensees must complete a minimum of 10 CE hours every two years from courses certified for each of their license types. Licensees with both L/H and P/C licenses must meet 20 CE credit hours every two years, with at least 8 hours in one line.
 

For CE hours required for licensees that become licensed during their first two-year reporting period, contact the South Dakota Insurance Department via email (jo.mikkelsen@state.sd.us) to determine the amount of prorated hours required.
 

Licensees who hold a crop hail qualification and only L/H or P/C shall obtain at least 10 hours of continuing education. Two continuing education hours must be certified crop hail courses and only two hours in certified crop hail courses will count towards the required 10 hours. If the licensee holds both a L/H and P/C qualification, including a crop hail qualification, the licensee shall complete at least 20 hours of continuing education with two hours in certified crop hail courses. Only two hours in certified crop hail courses will count towards the required ten hours.
 

No more than 50% of the hours can come from courses sponsored by any one insurer.
 

Licensees who hold Crop authority must complete 4 hours biennially in crop insurance.
 

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

Non Resident Requirements

There are no non-resident continuing education requirements in South Dakota.

Course Repetition

Course repetition is not permitted within the compliance/renewal period.

Exam Rules

Online certification exams are closed book. Course materials are not available while the exam is in progress. The final exam must be passed with a score of 70% or higher to receive CE credit. If the exam is not passed on the first attempt, students have an unlimited number of retakes.

Period Requirements

South Dakota resident licensees must complete their CE requirements every two years by the last day of their birth month.

Carryover Criteria Requirements

Carryover of CE hours is not permitted.

Reporting Requirements

Report within 14 days of completion. Need Agent’s SSN or license number to report.

State Reporting Fees

The SD Department of Insurance requires a course reporting fee of $1.00 per credit hour (online, self-study and classroom courses). This state reporting fee will be automatically charged to you (on the last credit card used in your account) each time you complete an online, self-study, or classroom course.

Exemptions

A licensee who has reached the age of 65 prior to July 1, 2006 and has been licensed for at least 10 years or who has reached 65 after July 1, 2006 and has been licensed for at least 10 years and who no longer sells, solicits or negotiates insurance is exempt from all continuing education requirements.

Acceptable Training Methods

  • Online (Internet Delivery)
  • 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.