Mn life insurance Study guides, Class notes & Summaries

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MN life insurance questions and answers rated A+ In what type of policy does the owner pay the same premium throughout the term of the contract? Level premium policy Which type of beneficiary CANNOT be changed without consent? The beneficiary is irrevocable How many total hours of continuing education covering the subjects for which the license is licensed must complete. 24 hours Accidental and dismemberment will pay the principal sum of death occurs: As a result of an acciden...

Department of Commerce - Answer - The regulatory authority who oversees the insurance industry Commissioner of Commerce - Answer - Responsible for executing the state's insurance laws and regulating all insurance companies and their agents doing business in MN Commissioner of Commerce - Answer - Is appointed by the Governor and heads up the Department of Commerce Commissioner's Duties include: - Answer - * Enforce insurance laws * Create rules to assist with enforcing insurance l...

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 regardle...

MN LIFE INSURANCE QUESTIONS AND ANSWERS ALREADY PASSED Which of the following is not a duty of the Commissioner? a. Issue an insurance license for a producer b. Make state insurance laws c. Handle insurance-related consumer complaints d. Enforce state insurance laws b. Make state insurance laws During policy solicitation an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of an unfair trade practice call...

MN LIFE INSURANCE Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

MN Life Insurance Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

MN Life Insurance License Exam 2024 Questions and Detailed Answers Which of the following is not a duty of the Commissioner? a. Issue an insurance license for a producer b. Make state insurance laws c. Handle insurance-related consumer complaints d. Enforce state insurance laws Correct Answer b. Make state insurance laws During policy solicitation an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of an unfai...

Rules and Regulation MN Life Insurance Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

Minnesota MN Life Insurance License Exam 2024 Questions and Detailed Answers| 100% Verified In what type of policy does the owner pay the same premium throughout the term of the contract?