Minnesota Life Insurance Questions With 100% Correct Answers.

The initial amount of credit life insurance may NOT exceed A-The borrower's annual income. B-The amount to be repaid under the contract. C-An amount set by statute and adjusted regularly for inflation. D-The borrower's monthly income. - Answer B This state provided for a temporary license for all of the following EXCEPT A-A producer's time in the military service. B-A producer's retirement. C-The death of a producer. D-A producer's disability. - Answer B Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insured's best interest are guilty of A-Rebating. B-Twisting. C-Defamation. D-Misrepresentation. - Answer B Which of the following is NOT a mandatory provision in health insurance policies? A-Grace period B-Entire contract C-Notice of claim D-Illegal occupation - Answer DPersonal Lines property policies are designed to meet the needs of A-Small companies. B-Nonprofit corporations. C-Private insurers. D-Individuals. - Answer D What is the minimum required number of hours of prelicensing education per line of authority in this state? A-10 hours B-15 hours C-20 hours D-40 hours - Answer C