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