MN Life and Health Insurance Exam(2024) Questions and Answers(A+ Solution guide)

The commissioner examines each insurer every ___ Years. - 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order - $10,000 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 All accident and health insurance policies must be filed with the commissioner at least ____ days prior to use - 60 days 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 License application fee - $50 per line of authority ____ Credit hours per licensed producer ___ hours must be in ethics - 25 credit hours, 3 ___ hour partnership prior to selling LTC - 8 hour ___ hour refresher course every two years after initial training for LTC - 4 hours License periods after the first licensing period are___ years - 2 yearsA temporary insurance producer license may be issued for up to ___ days - 180 days A licensee's time to notify the commissioner of address change is ___ days - 10 days A license is suspended for any period of time no less than ___ months - 3 months` A person who's license is revoked can reapply after ___ years. The producer must obtain a performance bond of at least _____ - 2 years, $20,000 Commissioner may fine a producer up to ___ per violation - $10,000 The insurer must fine notice of appointment within ___ days of first sale by the producer. - 15 days An insurer that terminates an appointment must notify the commissioner within _____ days - 30 days Within ____ days, the insurer must send written notice of the termination to the producer. - 15 days Within ___ days after receiving notice of termination, the producer may file written comments concerning the termination with the commissioner - 30 days The penalty for failing to appoint a producer is $____ per offense, and up to $____ maximum per unappointed producer - $25, $300 The producer must notify the commissioner of any administrative action taken or criminal prosecution against the producer within ____ days - 30 days