MN LIFE AND HEALTH INSURANCE 2026/2027
COMPREHENSIVE EXAM QUESTIONS AND SOLUTIONS
RATED A+
✔✔A person who lives or has a principal place of business in Minnesota may become a
licensed resident producer if they: - ✔✔Are at least 18 years of age
Have not committed any act that is a ground for license denial, suspension, or
revocation
Complete the appropriate prelicensing course, of at least 20 hours per line of authority
Pass the appropriate licensing examination(s)
Submit a license application to the Commissioner
Pay the required fees
Consent to a criminal background check
Submit a fingerprint card
✔✔An insurance producer who sells annuity products must complete a one-time,
_____________ training course approved by the Commissioner and provided by a CE
provider approved by the Commissioner prior to commencing the transaction of
annuities. - ✔✔4-credit
✔✔The training required under this subdivision must include information on the
following topics: - ✔✔The types of annuities and various classifications of annuities
Identification of the parties to an annuity
How fixed, variable, and indexed annuity contract provisions affect consumers
The application of income taxation of qualified and nonqualified annuities
The primary uses of annuities
Appropriate and lawful sales practices, replacement, and disclosure requirements, and
suitability information and whether an annuity is suitable for a consumer
The recognition of indicators that a prospective insured may lack the short-term memory
or judgment to knowingly purchase an insurance product
,✔✔An individual may not sell, solicit, or negotiate _________________ insurance
unless they are licensed as an insurance producer for either life or accident/health or
sickness insurance. - ✔✔Long-Term Care
✔✔A producer must complete an initial training of ________________ before being
allowed to sell LTC policies. - ✔✔at least 8 hours
✔✔(LTC) To continue being qualified, a producer must complete at least ____ hours of
continuing education every 24 months. - ✔✔4
✔✔Courses must consist of topics related to LTC insurance, LTC services, and
qualified state LTC insurance partnership programs, including, but not limited to: -
✔✔The relationship between qualified state Long-Term Care insurance partnership
programs and other public and private coverage of LTC services, including
Medicaid/Minnesota medical assistance
Available LTC services and providers
Changes or improvements in LTC services or providers
Alternatives to the purchase of private LTC insurance
The effect of inflation on benefits and the importance of inflation protection
Consumer suitability standards and guidelines
✔✔Every licensee must complete ____ credit hours of accredited continuing education
courses during each licensing period. At least____ hours must be on the subject of
ethics. - ✔✔24, 3
✔✔The Commissioner may grant a waiver of CE credits or an extension up to
__________ to complete the minimum requirement upon a showing of good cause. -
✔✔90 days
✔✔If the request for a waiver or extension is denied by the Commissioner, the licensed
person has___________ within which to satisfy the minimum education requirement
involved in the request for a waiver or extension. If the minimum education requirement
is not satisfied within the compliance period, the Commissioner will terminate the
person's license. - ✔✔30 days
✔✔If a person fails to complete the minimum education requirements or to pay the fees,
- ✔✔their license will not be renewed or continued in force for any class of insurance
beginning the day after the renewal was due.
, ✔✔Exemptions - ✔✔A resident applicant for limited lines credit insurance, title
insurance, travel baggage insurance, or bail bonds is exempt from the exam
requirement.
✔✔The following are exempt from the prelicensing requirement: - ✔✔An applicant for
the limited lines farm property liability line of authority or the variable life and variable
annuity line of authority
An applicant who has received a 2-year Minnesota vocational school degree in
insurance or a 4-year college degree in business with an insurance emphasis
An applicant for the Property, Casualty, or Personal Lines Property and Casualty lines
of authority who holds any of the following professional designations:
Accredited Advisor in Insurance (AAI)
Associate in Risk Management (ARM)
Certified Insurance Counselor (CIC)
Chartered Property and Casualty Underwriter (CPCU)
✔✔Examination - ✔✔A resident individual applying for an insurance producer license
must pass a written examination unless exempt.
✔✔Individuals seeking producer licenses must complete prelicensing education
consisting of ____ hours of education per line of authority. - ✔✔20
✔✔Courses must include an introduction to insurance and insurance-related concepts
covering all of the major lines of authority. An insurance producer may receive
qualification for a license in 1 or more of the lines of authority: - ✔✔Property insurance
Casualty insurance
Life insurance
Accident and health or sickness insurance
Variable life and variable annuity products insurance
Personal lines insurance
Limited line credit insurance
Farm property and liability insurance
Title insurance
Travel baggage insurance
Bail bonds
✔✔Licensing is not required for the following individuals: - ✔✔Officers, directors, and
employees of an insurer or producer who do not receive any commissions on policies
written or sold
Officers, directors, or employees whose function relates to underwriting, loss control,
inspection, or the processing, adjusting, investigating, or settling of a claim
COMPREHENSIVE EXAM QUESTIONS AND SOLUTIONS
RATED A+
✔✔A person who lives or has a principal place of business in Minnesota may become a
licensed resident producer if they: - ✔✔Are at least 18 years of age
Have not committed any act that is a ground for license denial, suspension, or
revocation
Complete the appropriate prelicensing course, of at least 20 hours per line of authority
Pass the appropriate licensing examination(s)
Submit a license application to the Commissioner
Pay the required fees
Consent to a criminal background check
Submit a fingerprint card
✔✔An insurance producer who sells annuity products must complete a one-time,
_____________ training course approved by the Commissioner and provided by a CE
provider approved by the Commissioner prior to commencing the transaction of
annuities. - ✔✔4-credit
✔✔The training required under this subdivision must include information on the
following topics: - ✔✔The types of annuities and various classifications of annuities
Identification of the parties to an annuity
How fixed, variable, and indexed annuity contract provisions affect consumers
The application of income taxation of qualified and nonqualified annuities
The primary uses of annuities
Appropriate and lawful sales practices, replacement, and disclosure requirements, and
suitability information and whether an annuity is suitable for a consumer
The recognition of indicators that a prospective insured may lack the short-term memory
or judgment to knowingly purchase an insurance product
,✔✔An individual may not sell, solicit, or negotiate _________________ insurance
unless they are licensed as an insurance producer for either life or accident/health or
sickness insurance. - ✔✔Long-Term Care
✔✔A producer must complete an initial training of ________________ before being
allowed to sell LTC policies. - ✔✔at least 8 hours
✔✔(LTC) To continue being qualified, a producer must complete at least ____ hours of
continuing education every 24 months. - ✔✔4
✔✔Courses must consist of topics related to LTC insurance, LTC services, and
qualified state LTC insurance partnership programs, including, but not limited to: -
✔✔The relationship between qualified state Long-Term Care insurance partnership
programs and other public and private coverage of LTC services, including
Medicaid/Minnesota medical assistance
Available LTC services and providers
Changes or improvements in LTC services or providers
Alternatives to the purchase of private LTC insurance
The effect of inflation on benefits and the importance of inflation protection
Consumer suitability standards and guidelines
✔✔Every licensee must complete ____ credit hours of accredited continuing education
courses during each licensing period. At least____ hours must be on the subject of
ethics. - ✔✔24, 3
✔✔The Commissioner may grant a waiver of CE credits or an extension up to
__________ to complete the minimum requirement upon a showing of good cause. -
✔✔90 days
✔✔If the request for a waiver or extension is denied by the Commissioner, the licensed
person has___________ within which to satisfy the minimum education requirement
involved in the request for a waiver or extension. If the minimum education requirement
is not satisfied within the compliance period, the Commissioner will terminate the
person's license. - ✔✔30 days
✔✔If a person fails to complete the minimum education requirements or to pay the fees,
- ✔✔their license will not be renewed or continued in force for any class of insurance
beginning the day after the renewal was due.
, ✔✔Exemptions - ✔✔A resident applicant for limited lines credit insurance, title
insurance, travel baggage insurance, or bail bonds is exempt from the exam
requirement.
✔✔The following are exempt from the prelicensing requirement: - ✔✔An applicant for
the limited lines farm property liability line of authority or the variable life and variable
annuity line of authority
An applicant who has received a 2-year Minnesota vocational school degree in
insurance or a 4-year college degree in business with an insurance emphasis
An applicant for the Property, Casualty, or Personal Lines Property and Casualty lines
of authority who holds any of the following professional designations:
Accredited Advisor in Insurance (AAI)
Associate in Risk Management (ARM)
Certified Insurance Counselor (CIC)
Chartered Property and Casualty Underwriter (CPCU)
✔✔Examination - ✔✔A resident individual applying for an insurance producer license
must pass a written examination unless exempt.
✔✔Individuals seeking producer licenses must complete prelicensing education
consisting of ____ hours of education per line of authority. - ✔✔20
✔✔Courses must include an introduction to insurance and insurance-related concepts
covering all of the major lines of authority. An insurance producer may receive
qualification for a license in 1 or more of the lines of authority: - ✔✔Property insurance
Casualty insurance
Life insurance
Accident and health or sickness insurance
Variable life and variable annuity products insurance
Personal lines insurance
Limited line credit insurance
Farm property and liability insurance
Title insurance
Travel baggage insurance
Bail bonds
✔✔Licensing is not required for the following individuals: - ✔✔Officers, directors, and
employees of an insurer or producer who do not receive any commissions on policies
written or sold
Officers, directors, or employees whose function relates to underwriting, loss control,
inspection, or the processing, adjusting, investigating, or settling of a claim
