Broker Renewal Deadline is April 30It’s the final countdown to the broker renewal deadline which is just 12 days away if you count the weekend, or 10 business days to complete your CE and renew your license. If you call anyone in the CE Department at IAR we will be able to give you down-to-the-minute details of exactly how much time you have left!

With approximately 11,000 brokers statewide who have not completed their CE, it is looking a little scary as to how many exams will have to be processed before the deadline. The calls are already flooding our telephone system and e-mail accounts with out-of-state brokers and the all-too-busy brokers who have not had time to complete their CE. Here are some of the FAQs that are coming through as brokers hurry to get their CE completed.

Can I go ahead and renew even if I haven’t completed all of my CE?

No. Your test records are transmitted to the Illinois Department of Financial and Professional Regulation (IDFPR) with the original date that you took your exam. If you renew on April 15 and didn’t take your exams until April 30 your records will show that you were deficient in hours when you renewed.

What will happen if I am deficient in hours?

If your records show you renewed before your CE is complete you face a possible fine of $75 per 3-hour course credit. So, if you were deficient with all 18 hours it might cost you an additional $450.

I live out-of-state and don’t know how to complete by the deadline. Is there still time?

There is still time even if you live out-of-state to do home study or online courses. You will have to provide evidence of a suitable proctor for your exams and complete your courses by at least April 26 to allow time to be graded and processed.

I don’t want to take the broker management CE. Can I revert back to a salesperson?

No. The option to revert back to a salesperson status was a one-time option for those who did not want to take the Broker Management course for the 2008 renewal.

I will not have time to complete my CE and renew by April 30. What will happen to my license?

If you do not satisfy your CE requirements and renew on April 30, your license will be inactive until you do so which means you will not be able to practice. Once you complete your CE you do have the option of renewing late and paying the $50 late fee.

Check online to see how many hours you have completed. If you are short on hours, there are still options available to renew.

Just remember you do have to take your proctored exam before the April 30th deadline. If you have any questions, we are just a phone call or e-mail away. Contact Carrie Elliott (celliott@iar.org) or Stacy Mahinda (smahinda@iar.org), 800-752-3275.