MN Life and Health Insurance Exam / Exam / Actual
Questions & Certified Solutions 2025/2026.
The commissioner examines each insurer every ___ Years. - (ANSWER)5 years
$____ fine per day if a person violates, aids, or abets a written cease and desist
order - (ANSWER)$10,000
License fee may request a hearing within ____ days of commissioners order. After
hearing request, Commissioner has ____ days to hold the hearing. - (ANSWER)30
Days, 30 days
All accident and health insurance policies must be filed with the commissioner at
least ____ days prior to use - (ANSWER)60 days
During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid - (ANSWER)20, 70%, 3 YEARS
License application fee - (ANSWER)$50 per line of authority
____ Credit hours per licensed producer
___ hours must be in ethics - (ANSWER)25 credit hours, 3
,___ hour partnership prior to selling LTC - (ANSWER)8 hour
___ hour refresher course every two years after initial training for LTC -
(ANSWER)4 hours
License periods after the first licensing period are___ years - (ANSWER)2 years
A temporary insurance producer license may be issued for up to ___ days -
(ANSWER)180 days
A licensee's time to notify the commissioner of address change is ___ days -
(ANSWER)10 days
A license is suspended for any period of time no less than ___ months -
(ANSWER)3 months`
A person who's license is revoked can reapply after ___ years. The producer must
obtain a performance bond of at least _____ - (ANSWER)2 years, $20,000
Commissioner may fine a producer up to ___ per violation - (ANSWER)$10,000
The insurer must fine notice of appointment within ___ days of first sale by the
producer. - (ANSWER)15 days
, An insurer that terminates an appointment must notify the commissioner within
_____ days - (ANSWER)30 days
Within ____ days, the insurer must send written notice of the termination to the
producer. - (ANSWER)15 days
Within ___ days after receiving notice of termination, the producer may file
written comments concerning the termination with the commissioner -
(ANSWER)30 days
The penalty for failing to appoint a producer is $____ per offense, and up to
$____ maximum per unappointed producer - (ANSWER)$25, $300
The producer must notify the commissioner of any administrative action taken or
criminal prosecution against the producer within ____ days - (ANSWER)30 days
The producer must notify the commissioner within ______ days of any felony or
gross misdemeanor conviction, guilty plea, or plea of no contest. - (ANSWER)10
days
A lapsed licensee can reinstate license within ____ months. - (ANSWER)12
Months
Questions & Certified Solutions 2025/2026.
The commissioner examines each insurer every ___ Years. - (ANSWER)5 years
$____ fine per day if a person violates, aids, or abets a written cease and desist
order - (ANSWER)$10,000
License fee may request a hearing within ____ days of commissioners order. After
hearing request, Commissioner has ____ days to hold the hearing. - (ANSWER)30
Days, 30 days
All accident and health insurance policies must be filed with the commissioner at
least ____ days prior to use - (ANSWER)60 days
During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid - (ANSWER)20, 70%, 3 YEARS
License application fee - (ANSWER)$50 per line of authority
____ Credit hours per licensed producer
___ hours must be in ethics - (ANSWER)25 credit hours, 3
,___ hour partnership prior to selling LTC - (ANSWER)8 hour
___ hour refresher course every two years after initial training for LTC -
(ANSWER)4 hours
License periods after the first licensing period are___ years - (ANSWER)2 years
A temporary insurance producer license may be issued for up to ___ days -
(ANSWER)180 days
A licensee's time to notify the commissioner of address change is ___ days -
(ANSWER)10 days
A license is suspended for any period of time no less than ___ months -
(ANSWER)3 months`
A person who's license is revoked can reapply after ___ years. The producer must
obtain a performance bond of at least _____ - (ANSWER)2 years, $20,000
Commissioner may fine a producer up to ___ per violation - (ANSWER)$10,000
The insurer must fine notice of appointment within ___ days of first sale by the
producer. - (ANSWER)15 days
, An insurer that terminates an appointment must notify the commissioner within
_____ days - (ANSWER)30 days
Within ____ days, the insurer must send written notice of the termination to the
producer. - (ANSWER)15 days
Within ___ days after receiving notice of termination, the producer may file
written comments concerning the termination with the commissioner -
(ANSWER)30 days
The penalty for failing to appoint a producer is $____ per offense, and up to
$____ maximum per unappointed producer - (ANSWER)$25, $300
The producer must notify the commissioner of any administrative action taken or
criminal prosecution against the producer within ____ days - (ANSWER)30 days
The producer must notify the commissioner within ______ days of any felony or
gross misdemeanor conviction, guilty plea, or plea of no contest. - (ANSWER)10
days
A lapsed licensee can reinstate license within ____ months. - (ANSWER)12
Months
