MN LIFE AND HEALTH INSURANCE
EXAM WITH ADVANCED QUESTIONS
AND ANSWERS 2025/2026
The commissioner examines each insurer every ___ Years. - CORRECT ANSWERS -5 years
$____ fine per day if a person violates, aids, or abets a written cease and desist order - CORRECT
ANSWERS -$10,000
License fee may request a hearing within ____ days of commissioners order. After hearing request,
Commissioner has ____ days to hold the hearing. - CORRECT ANSWERS -30 Days, 30 days
All accident and health insurance policies must be filed with the commissioner at least ____ days prior
to use - CORRECT ANSWERS -60 days
During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid - CORRECT ANSWERS -20, 70%, 3 YEARS
License application fee - CORRECT ANSWERS -$50 per line of authority
____ Credit hours per licensed producer
___ hours must be in ethics - CORRECT ANSWERS -25 credit hours, 3
___ hour partnership prior to selling LTC - CORRECT ANSWERS -8 hour
,___ hour refresher course every two years after initial training for LTC - CORRECT ANSWERS -4 hours
License periods after the first licensing period are___ years - CORRECT ANSWERS -2 years
A temporary insurance producer license may be issued for up to ___ days - CORRECT ANSWERS -180
days
A licensee's time to notify the commissioner of address change is ___ days - CORRECT ANSWERS -10
days
A license is suspended for any period of time no less than ___ months - CORRECT ANSWERS -3 months`
A person who's license is revoked can reapply after ___ years. The producer must obtain a performance
bond of at least _____ - CORRECT ANSWERS -2 years, $20,000
Commissioner may fine a producer up to ___ per violation - CORRECT ANSWERS -$10,000
The insurer must fine notice of appointment within ___ days of first sale by the producer. - CORRECT
ANSWERS -15 days
An insurer that terminates an appointment must notify the commissioner within _____ days - CORRECT
ANSWERS -30 days
Within ____ days, the insurer must send written notice of the termination to the producer. - CORRECT
ANSWERS -15 days
, Within ___ days after receiving notice of termination, the producer may file written comments
concerning the termination with the commissioner - CORRECT ANSWERS -30 days
The penalty for failing to appoint a producer is $____ per offense, and up to $____ maximum per
unappointed producer - CORRECT ANSWERS -$25, $300
The producer must notify the commissioner of any administrative action taken or criminal prosecution
against the producer within ____ days - CORRECT ANSWERS -30 days
The producer must notify the commissioner within ______ days of any felony or gross misdemeanor
conviction, guilty plea, or plea of no contest. - CORRECT ANSWERS -10 days
A lapsed licensee can reinstate license within ____ months. - CORRECT ANSWERS -12 Months
The penally for rebating is $____ to $____ per violation. A promotional gift or advertising item of $____
is not a rebate. - CORRECT ANSWERS -$60 to $200, $25
The insurer must reply to customer claims and inquires within ____ days. - CORRECT ANSWERS -10 days
Policies must be delivered to the insured within ____ working days of the producers recipes from the
insurer. - CORRECT ANSWERS -30 days
Producer financial and compliant records must be kept on file for ____ years. - CORRECT ANSWERS -6
years.
Premium refunds must be sent to insured within _____ days of the producer receipt from the insurer. -
CORRECT ANSWERS -5 days
EXAM WITH ADVANCED QUESTIONS
AND ANSWERS 2025/2026
The commissioner examines each insurer every ___ Years. - CORRECT ANSWERS -5 years
$____ fine per day if a person violates, aids, or abets a written cease and desist order - CORRECT
ANSWERS -$10,000
License fee may request a hearing within ____ days of commissioners order. After hearing request,
Commissioner has ____ days to hold the hearing. - CORRECT ANSWERS -30 Days, 30 days
All accident and health insurance policies must be filed with the commissioner at least ____ days prior
to use - CORRECT ANSWERS -60 days
During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid - CORRECT ANSWERS -20, 70%, 3 YEARS
License application fee - CORRECT ANSWERS -$50 per line of authority
____ Credit hours per licensed producer
___ hours must be in ethics - CORRECT ANSWERS -25 credit hours, 3
___ hour partnership prior to selling LTC - CORRECT ANSWERS -8 hour
,___ hour refresher course every two years after initial training for LTC - CORRECT ANSWERS -4 hours
License periods after the first licensing period are___ years - CORRECT ANSWERS -2 years
A temporary insurance producer license may be issued for up to ___ days - CORRECT ANSWERS -180
days
A licensee's time to notify the commissioner of address change is ___ days - CORRECT ANSWERS -10
days
A license is suspended for any period of time no less than ___ months - CORRECT ANSWERS -3 months`
A person who's license is revoked can reapply after ___ years. The producer must obtain a performance
bond of at least _____ - CORRECT ANSWERS -2 years, $20,000
Commissioner may fine a producer up to ___ per violation - CORRECT ANSWERS -$10,000
The insurer must fine notice of appointment within ___ days of first sale by the producer. - CORRECT
ANSWERS -15 days
An insurer that terminates an appointment must notify the commissioner within _____ days - CORRECT
ANSWERS -30 days
Within ____ days, the insurer must send written notice of the termination to the producer. - CORRECT
ANSWERS -15 days
, Within ___ days after receiving notice of termination, the producer may file written comments
concerning the termination with the commissioner - CORRECT ANSWERS -30 days
The penalty for failing to appoint a producer is $____ per offense, and up to $____ maximum per
unappointed producer - CORRECT ANSWERS -$25, $300
The producer must notify the commissioner of any administrative action taken or criminal prosecution
against the producer within ____ days - CORRECT ANSWERS -30 days
The producer must notify the commissioner within ______ days of any felony or gross misdemeanor
conviction, guilty plea, or plea of no contest. - CORRECT ANSWERS -10 days
A lapsed licensee can reinstate license within ____ months. - CORRECT ANSWERS -12 Months
The penally for rebating is $____ to $____ per violation. A promotional gift or advertising item of $____
is not a rebate. - CORRECT ANSWERS -$60 to $200, $25
The insurer must reply to customer claims and inquires within ____ days. - CORRECT ANSWERS -10 days
Policies must be delivered to the insured within ____ working days of the producers recipes from the
insurer. - CORRECT ANSWERS -30 days
Producer financial and compliant records must be kept on file for ____ years. - CORRECT ANSWERS -6
years.
Premium refunds must be sent to insured within _____ days of the producer receipt from the insurer. -
CORRECT ANSWERS -5 days
