State required training for insurance producers that sell annuity products.

Initial Training
Hours: 4
Frequency: One-time training must be complete prior to selling annuity products. *Residents who satisfy the training requirements of another state that are similar to the South Dakota law will be deemed compliant for the South Dakota requirement.

Additional Information

State required training for insurance producers that sell long-term care products.

Initial Training
Hours: 8
Frequency: One-time training must be complete prior to selling LTC products.

Ongoing Training
Hours: 4
Frequency: State-approved training must be completed by July 1st in even years, following the initial training requirement.

Additional Information

State required training for insurance producers that sell flood insurance products.

One-Time Training
Hours: 3
Frequency: One-time training must be completed to sell flood insurance products.

Additional Information

As clarified by FinCEN’s final rulings, the USA PATRIOT Act stipulates that financial services companies involved in the sale of covered products maintain an ongoing training program for all associates who are involved in any sale and administration of covered products. Please consult your firm on how to report WebCE courses for this training.

Additional Information

The license term is 2 years, expiring on the last day of the producer’s birth month.

No excess hours may be carried over into a new license term. All courses must be completed in the period for which they will be reported.

Courses cannot be repeated more than once in a 2 year license term.

Online and paper self-study

Self-Study Requirements: Students should read the course material prior to taking the final exam.

The final exam is open-book. Students may refer to the course material as often as needed. If the final exam is not passed on the first attempt, students have an unlimited number of retakes.

Exam Proctor Requirements: Exams are open-book and do not require a monitor.

Self-Study Final Exam: 70%

WebCE provides online, printable certificates of completion in South Dakota. Certificates of completion will be available to print online immediately after a final exam is passed. Producers must keep a copy of each certificate of completion in his or her file for a minimum of 2 years.

Instant Reporting: Insurance CE credits are immediately reported to Sircon upon completion of courses.

Non-residents who satisfy the annuity training requirements of another state that are similar to South Dakota's law will be deemed compliant for South Dakota's requirement.

• Producers must complete a one-time initial 8-hour NAIC LTC training course before they can sell, solicit, or negotiate LTC Products. If a producer has taken the initial 8-hour long-term care partnership course for another state, they must complete a state-approved Medicaid training course before selling LTC insurance products in South Dakota.
• After completing the 8-hour initial training requirement, producers must complete 4 hours of LTC training by July 1st in even years. If a producer has taken the ongoing 4-hour long-term care partnership course for another state, they must complete a state-approved Medicaid training course by July 1st in even years.

The following are exempt from South Dakota's CE requirements:

• A producer holding a limited license to sell only credit life and credit health insurance.
• A producer outside the United States or its territories.
• A producer who is a resident attorney licensed to practice law in South Dakota.
• A producer who is a transportation ticket producer of common carriers holding a limited license to sell only travel accident and baggage insurance.
• A producer who is an employee of a trade association holding a limited license to sell only surety bonds to its association members.
• A producer who is licensed to sell only bail bonds.
• Individuals who have reached the age of 65 prior July 1, 2006 and have been licensed in South Dakota for at least 10 years as of July 1, 2006.
• Licensees over age 65, if they have been licensed in South Dakota for at least 10 years and do not sell, solicit, or negotiate insurance.

Limited lines producers are exempt from CE requirements (examples include limited lines credit insurance, travel accident insurance, and rental car insurance producers).
Producers must notify the South Dakota Division of Insurance in writing if he/she falls under one of the exemption categories.