Lieutenant Governor Tregenza Roach, in his capacity as commissioner of Insurance, is advising the public and all candidates seeking insurance licenses in the U.S. Virgin Islands that insurance examination results are considered final. Once an examination has been completed, the Division of Banking, Insurance, and Financial Regulation will not review, re-evaluate, or redistribute exam results under any circumstances.
According to the Office of the Lieutenant Governor, this long-standing policy is intended to preserve the fairness, integrity, and consistency of the licensing examination process. The division emphasized that strict compliance is essential to maintaining public confidence in the overall regulatory framework.
“This policy safeguards the fairness, integrity, and consistency of the Division’s licensing examination process, ensuring that all candidates are evaluated under the same standards,” the announcement stated. “Strict compliance with this policy is vital to maintaining public confidence in both the licensing framework and the regulatory process.”
Candidates who do not appear for their scheduled examination or who fail to pass may reapply, provided they submit all required fees and forms before being rescheduled. However, there is a limit of three attempts within any twelve-month period for the same examination type.
For those who successfully pass, the division advises that the exam score remains valid for one year. Applicants must obtain their license within that timeframe; otherwise, they will be required to retake and pass the examination.
The Division of Banking, Insurance, and Financial Regulation encourages candidates to adequately prepare before attempting the exam. Approved study guides, practice resources, and statutory reference materials are available for purchase at the division’s offices. The division noted that it “remains committed to upholding the highest standards of professionalism, fairness, and accountability within the insurance and financial services industries.”
For additional information regarding study materials, examination schedules, or registration procedures, residents may contact the Division of Banking, Insurance, and Financial Regulation at 340-774-2991 on St. Thomas or 340-773-6449 on St. Croix.
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