MN Life and Health Insurance Exam Questions
1.The commissioner examines each insurer every Years.: 5 years
2.$ fine per day if a person violates, aids, or abets a written cease
and desist order: $10,000
3.License fee may request a hearing within days of commissioners
order. After hearing request, Commissioner has days to hold the hearing.:
30 Days, 30 days
4.All accident and health insurance policies must be filed with the
commis- sioner at least days prior to use: 60 days
5.During Pre-licensing...
hours per major line of authority
% passing score on state exam
number of years the exam results are valid: 20, 70%, 3 YEARS
6.License application fee: $50 per line of authority
7. Credit hours per licensed producer
hours must be in ethics: 25 credit hours, 3
8. hour partnership prior to selling LTC: 8 hour
,9. hour refresher course every two years after initial training for LTC:
4 hours
10.License periods after the first licensing period are years: 2 years
11.A temporary insurance producer license may be issued for up to
days: 180 days
12.A licensee's time to notify the commissioner of address change is
days: 10 days
13.A license is suspended for any period of time no less than____months: 3
months`
14.A person who's license is revoked can reapply after years. The
produc- er must obtain a performance bond of at least : 2 years,
$20,000
15.Commissioner may fine a producer up to per violation: $10,000
16.The insurer must fine notice of appointment within days of first
sale by the producer.: 15 days
17.An insurer that terminates an appointment must notify the
commissioner within days: 30 days
18.Within days, the insurer must send written notice of the
termination to the producer.: 15 days
, 19.Within days after receiving notice of termination, the producer may
file written comments concerning the termination with the commissioner: 30
days
20.The penalty for failing to appoint a producer is $ per offense, and
up to $ maximum per unappointed producer: $25, $300
21.The producer must notify the commissioner of any administrative action
taken or criminal prosecution against the producer within days: 30
days
22.The producer must notify the commissioner within days of any
felony or gross misdemeanor conviction, guilty plea, or plea of no contest.:
10 days
23.A lapsed licensee can reinstate license within months.: 12 Months
24.The penally for rebating is $ to $ per violation. A promotional
gift or advertising item of $ is not a rebate.: $60 to $200, $25
25.The insurer must reply to customer claims and inquires within days.-
: 10 days
26.Policies must be delivered to the insured within working days of
the producers recipes from the insurer.: 30 days
27.Producer financial and compliant records must be kept on file for
1.The commissioner examines each insurer every Years.: 5 years
2.$ fine per day if a person violates, aids, or abets a written cease
and desist order: $10,000
3.License fee may request a hearing within days of commissioners
order. After hearing request, Commissioner has days to hold the hearing.:
30 Days, 30 days
4.All accident and health insurance policies must be filed with the
commis- sioner at least days prior to use: 60 days
5.During Pre-licensing...
hours per major line of authority
% passing score on state exam
number of years the exam results are valid: 20, 70%, 3 YEARS
6.License application fee: $50 per line of authority
7. Credit hours per licensed producer
hours must be in ethics: 25 credit hours, 3
8. hour partnership prior to selling LTC: 8 hour
,9. hour refresher course every two years after initial training for LTC:
4 hours
10.License periods after the first licensing period are years: 2 years
11.A temporary insurance producer license may be issued for up to
days: 180 days
12.A licensee's time to notify the commissioner of address change is
days: 10 days
13.A license is suspended for any period of time no less than____months: 3
months`
14.A person who's license is revoked can reapply after years. The
produc- er must obtain a performance bond of at least : 2 years,
$20,000
15.Commissioner may fine a producer up to per violation: $10,000
16.The insurer must fine notice of appointment within days of first
sale by the producer.: 15 days
17.An insurer that terminates an appointment must notify the
commissioner within days: 30 days
18.Within days, the insurer must send written notice of the
termination to the producer.: 15 days
, 19.Within days after receiving notice of termination, the producer may
file written comments concerning the termination with the commissioner: 30
days
20.The penalty for failing to appoint a producer is $ per offense, and
up to $ maximum per unappointed producer: $25, $300
21.The producer must notify the commissioner of any administrative action
taken or criminal prosecution against the producer within days: 30
days
22.The producer must notify the commissioner within days of any
felony or gross misdemeanor conviction, guilty plea, or plea of no contest.:
10 days
23.A lapsed licensee can reinstate license within months.: 12 Months
24.The penally for rebating is $ to $ per violation. A promotional
gift or advertising item of $ is not a rebate.: $60 to $200, $25
25.The insurer must reply to customer claims and inquires within days.-
: 10 days
26.Policies must be delivered to the insured within working days of
the producers recipes from the insurer.: 30 days
27.Producer financial and compliant records must be kept on file for
