MN life insurance exam
Comprehensive Questions with
Verified Answers Graded A+
In what type of policy does the owner pay the same premium throughout the term of the
contract? - Answer: Level premium policy
Which type of beneficiary CANNOT be changed without consent? - Answer: The beneficiary is
irrevocable
How many totals hours of continuing education covering the subjects for which the license is
licensed must complete? - Answer: 24 hours
Accidental and dismemberment will pay the principal sum of death occurs: - Answer: As a result
of an accident regardless of when the accident occurs
The following refers to which type of clause? If the proposed insured dies while the policy is in
forced the company will pay the death benefit to the beneficiary? - Answer: An insuring clause
Under MN law, if an employee is laid off from employment and is no longer eligible for group
coverage, what can the employer's life insurance coverage? - Answer: The employer must
inform the company of the amount payable to continue coverage for up to 18
Which rider lows additional insurance a a spectred date or event withou evidence
ofinsumbility? - Answer: Guaranteed Insurability
, Which of the exceptions of a variable annuity contract if a person cancelled an insurance
contract within the free look period is without liability and the person is entitled a refund of? -
Answer: The premium paid but not including any contract fees or other charges related to the
contract
The Department of Commerce must be given a minimum of how many days advance notice of
disciplinary? - Answer: 10 days
The proposed insured's statement on the application and the first premium payment are part of
the policy? - Answer: Consideration Clause
A temporary producer license can be issued in any of the following EXCEPT - Answer: A
prospective producer who is enrolled in an insurance pre-licensed class
Which of the following would be prohibited advertising? - Answer: Advertising that uses the MN
Life and Health Insurance Guaranty Association
A proposed insured whose likelihood of loss is significantly less than the average is classified as:
- Answer: Preferred risk
Once a policy has been reinstated the insured must wait what amount of time before coverage
for sickne: is available? - Answer: 10 days
Blood tests to detect the presence of Human Immunodeficiency Virus (HIV) are becoming
commonplace laws that have been allowing companies to: - Answer: Shares the positive HIV
information with other companies
Comprehensive Questions with
Verified Answers Graded A+
In what type of policy does the owner pay the same premium throughout the term of the
contract? - Answer: Level premium policy
Which type of beneficiary CANNOT be changed without consent? - Answer: The beneficiary is
irrevocable
How many totals hours of continuing education covering the subjects for which the license is
licensed must complete? - Answer: 24 hours
Accidental and dismemberment will pay the principal sum of death occurs: - Answer: As a result
of an accident regardless of when the accident occurs
The following refers to which type of clause? If the proposed insured dies while the policy is in
forced the company will pay the death benefit to the beneficiary? - Answer: An insuring clause
Under MN law, if an employee is laid off from employment and is no longer eligible for group
coverage, what can the employer's life insurance coverage? - Answer: The employer must
inform the company of the amount payable to continue coverage for up to 18
Which rider lows additional insurance a a spectred date or event withou evidence
ofinsumbility? - Answer: Guaranteed Insurability
, Which of the exceptions of a variable annuity contract if a person cancelled an insurance
contract within the free look period is without liability and the person is entitled a refund of? -
Answer: The premium paid but not including any contract fees or other charges related to the
contract
The Department of Commerce must be given a minimum of how many days advance notice of
disciplinary? - Answer: 10 days
The proposed insured's statement on the application and the first premium payment are part of
the policy? - Answer: Consideration Clause
A temporary producer license can be issued in any of the following EXCEPT - Answer: A
prospective producer who is enrolled in an insurance pre-licensed class
Which of the following would be prohibited advertising? - Answer: Advertising that uses the MN
Life and Health Insurance Guaranty Association
A proposed insured whose likelihood of loss is significantly less than the average is classified as:
- Answer: Preferred risk
Once a policy has been reinstated the insured must wait what amount of time before coverage
for sickne: is available? - Answer: 10 days
Blood tests to detect the presence of Human Immunodeficiency Virus (HIV) are becoming
commonplace laws that have been allowing companies to: - Answer: Shares the positive HIV
information with other companies
