2026 MN LIFE AND HEALTH EXAMS
COMPREHENSIVE ALL QUESTIONS AND ANSWERS
SURE A+
✔✔Boycott, coercion & intimidation - ✔✔any act of these listed that result in an
unreasonable restraint of trade
✔✔Discrimination - ✔✔making or permitting any unfair discrimination between
individuals in the same class of insureds when setting rates or renewal of coverage, no
discrimination of racial or gender ect.
✔✔Rebating - ✔✔offering or giving any rebate of pre. or anything else of value as an
inducement to buy insurance penalty is $60-200
✔✔Twisting - ✔✔replacing insurance to the detriment of the insured
✔✔Required conduct of agents - ✔✔- producers may accept loans from clients provided
loan agreement in writing. all records relating to the loan must be kept on file for at least
6 years after replacement
✔✔Regulation periods - ✔✔- complaint records- 4 years
- policy forms and applications- 3 years after effective date
, - claim records- 3 years
✔✔insurance co regulations - ✔✔- 10 day free look (L & H)
- Must pass flesh scale analysis
- must be readable and understandable of an 8th grade reader
- can't refuse national guard
✔✔Unfair claims settlement - ✔✔-can't refuse claim w/o conducting a reasonable
investigation
- delaying or refusing a settlement just bc the claimant retains an attorney or public
adjustor
-compelling an insured to commence litigation by offering an inadequate settlement
-must cite specific policy that applies
✔✔Group Life Insurance - ✔✔- group sponsor is the policy owner, & each group
member is an insured under the group
- fire/quit keeps policy for 18m pay premium & cover the policy
✔✔Individual life insurance - ✔✔is purchased by an individual who needs life insurance
✔✔Term Life Insurance - ✔✔-is designed to provide temporary protection for someone
who need life insurance for a specific period of time
- lowest cost
- no accumulation of cash value
✔✔Permanent Life insurance - ✔✔is designed to provide permanent protection for
someone who needs life insurance for a longer period of time
✔✔Fixed Life insurance - ✔✔-policies pay an interest rate on any cash value in the
policy
✔✔Variable life insurance - ✔✔-policies allow the owner to invest the cash value into
mutual funds
-a securities license is required to sell variable life insurance
✔✔Level Term - ✔✔-the premium & death benefit remain level during the term of
coverage
✔✔annually renewable (term insurance) - ✔✔- term insurance sets the term of
coverage as one year
-may renew every year w/o evidence of insurability
- higher upon renewal
death benefit decreases
COMPREHENSIVE ALL QUESTIONS AND ANSWERS
SURE A+
✔✔Boycott, coercion & intimidation - ✔✔any act of these listed that result in an
unreasonable restraint of trade
✔✔Discrimination - ✔✔making or permitting any unfair discrimination between
individuals in the same class of insureds when setting rates or renewal of coverage, no
discrimination of racial or gender ect.
✔✔Rebating - ✔✔offering or giving any rebate of pre. or anything else of value as an
inducement to buy insurance penalty is $60-200
✔✔Twisting - ✔✔replacing insurance to the detriment of the insured
✔✔Required conduct of agents - ✔✔- producers may accept loans from clients provided
loan agreement in writing. all records relating to the loan must be kept on file for at least
6 years after replacement
✔✔Regulation periods - ✔✔- complaint records- 4 years
- policy forms and applications- 3 years after effective date
, - claim records- 3 years
✔✔insurance co regulations - ✔✔- 10 day free look (L & H)
- Must pass flesh scale analysis
- must be readable and understandable of an 8th grade reader
- can't refuse national guard
✔✔Unfair claims settlement - ✔✔-can't refuse claim w/o conducting a reasonable
investigation
- delaying or refusing a settlement just bc the claimant retains an attorney or public
adjustor
-compelling an insured to commence litigation by offering an inadequate settlement
-must cite specific policy that applies
✔✔Group Life Insurance - ✔✔- group sponsor is the policy owner, & each group
member is an insured under the group
- fire/quit keeps policy for 18m pay premium & cover the policy
✔✔Individual life insurance - ✔✔is purchased by an individual who needs life insurance
✔✔Term Life Insurance - ✔✔-is designed to provide temporary protection for someone
who need life insurance for a specific period of time
- lowest cost
- no accumulation of cash value
✔✔Permanent Life insurance - ✔✔is designed to provide permanent protection for
someone who needs life insurance for a longer period of time
✔✔Fixed Life insurance - ✔✔-policies pay an interest rate on any cash value in the
policy
✔✔Variable life insurance - ✔✔-policies allow the owner to invest the cash value into
mutual funds
-a securities license is required to sell variable life insurance
✔✔Level Term - ✔✔-the premium & death benefit remain level during the term of
coverage
✔✔annually renewable (term insurance) - ✔✔- term insurance sets the term of
coverage as one year
-may renew every year w/o evidence of insurability
- higher upon renewal
death benefit decreases
