MN LIFE INSURANCE CORE EXAM 2026 TEST QUESTIONS
AND SOLUTIONS SCORED A+
✔✔The proposed insured's statement on a life insurance application are considered to
be truth. - ✔✔Representation
✔✔Which of the following transaction would not be subjected to income tax under a
Modified Endowment
Contract (MEC)? - ✔✔The Death Benefit
✔✔An immediate annuity making payment after the: - ✔✔Policy has been in force for
one year
✔✔The Department of Commerce is empowered to: - ✔✔Enforce the state laws
✔✔An insurance producer must notify the Department of Commerce of a change in
legal name or address: - ✔✔Within 10 days
✔✔Which of the following is an example of a non qualified plan? - ✔✔Individual Annuity
✔✔How many days is the Free look period? - ✔✔10 days
✔✔What is a Decreasing terms use for? - ✔✔Home Mortgage Protection
✔✔When will suicide be pay out? - ✔✔After 2nd years
✔✔What is accelerated death benefit/accelerated benefit rider? - ✔✔Terminal illness,
Chronic illness and Critical illness
✔✔The Department of Commerce is not responsible for: - ✔✔Endorsing insurers
✔✔To sell the variable, the agent must pass? - ✔✔Life license and a Security license
✔✔How many years to renew your license? - ✔✔2 year
✔✔When does your license expire? - ✔✔Your birthday or Oct. 31st
✔✔Which of the following provisions allows a person to temporarily give up a portion of
their right to secure? - ✔✔Collateral Assignment
✔✔In addition to the actual policy, an entire contract includes which of the following? -
✔✔The application
, ✔✔Which of the following is true regarding suitability of a long term care insurance
policy? - ✔✔The agent must have reasonable grounds for believing that the
recommendation is suitable for the customer
✔✔What is the minimum amount of protection for the claim under the MN life and health
company? - ✔✔1,000,000
✔✔If the insured and the primary beneficiary are killed in the same accident, the policy
proceeds will pay the death benefit to: - ✔✔Contingent Beneficiary
✔✔Which type of life insurance is written under a single contract for both the spouse in
which it is payable upon the 1st death? - ✔✔Joint
✔✔Prior to annuity ration, what is the non-forfeiture value of an annuity? - ✔✔Premium
plus interest
✔✔At the time of initial contact and before a personal solicitation, a producer must
state: - ✔✔The name of the person making contact, the name of the producer in the
business to sell life insurance
✔✔Which of the following is not included as part of the contract in the entire contract? -
✔✔Endorsement if any
✔✔In group life insurance, what is it called when the employer pays for the employees?
- ✔✔Non-contributory
✔✔How many days that the insured cancel the policy and refund all of the premiums? -
✔✔10 days
✔✔The insured takes out the life insurance policy and the insured is suicide himself 13
months later, what will the insurance company do? - ✔✔Reimburse the premium
✔✔How long is a temporary license? - ✔✔18 months
✔✔Refunding part of the commission, premium, service, or anything of value to the
purchaser as an inducement to buy insurance coverage? - ✔✔Rebating
✔✔The purpose of the insured concerning about silicate the insurer becomes
insolvency and the Guaranty
Association? - ✔✔To be bankruptcy
✔✔What is the insured becomes totally disability? - ✔✔Waiver of premiums
AND SOLUTIONS SCORED A+
✔✔The proposed insured's statement on a life insurance application are considered to
be truth. - ✔✔Representation
✔✔Which of the following transaction would not be subjected to income tax under a
Modified Endowment
Contract (MEC)? - ✔✔The Death Benefit
✔✔An immediate annuity making payment after the: - ✔✔Policy has been in force for
one year
✔✔The Department of Commerce is empowered to: - ✔✔Enforce the state laws
✔✔An insurance producer must notify the Department of Commerce of a change in
legal name or address: - ✔✔Within 10 days
✔✔Which of the following is an example of a non qualified plan? - ✔✔Individual Annuity
✔✔How many days is the Free look period? - ✔✔10 days
✔✔What is a Decreasing terms use for? - ✔✔Home Mortgage Protection
✔✔When will suicide be pay out? - ✔✔After 2nd years
✔✔What is accelerated death benefit/accelerated benefit rider? - ✔✔Terminal illness,
Chronic illness and Critical illness
✔✔The Department of Commerce is not responsible for: - ✔✔Endorsing insurers
✔✔To sell the variable, the agent must pass? - ✔✔Life license and a Security license
✔✔How many years to renew your license? - ✔✔2 year
✔✔When does your license expire? - ✔✔Your birthday or Oct. 31st
✔✔Which of the following provisions allows a person to temporarily give up a portion of
their right to secure? - ✔✔Collateral Assignment
✔✔In addition to the actual policy, an entire contract includes which of the following? -
✔✔The application
, ✔✔Which of the following is true regarding suitability of a long term care insurance
policy? - ✔✔The agent must have reasonable grounds for believing that the
recommendation is suitable for the customer
✔✔What is the minimum amount of protection for the claim under the MN life and health
company? - ✔✔1,000,000
✔✔If the insured and the primary beneficiary are killed in the same accident, the policy
proceeds will pay the death benefit to: - ✔✔Contingent Beneficiary
✔✔Which type of life insurance is written under a single contract for both the spouse in
which it is payable upon the 1st death? - ✔✔Joint
✔✔Prior to annuity ration, what is the non-forfeiture value of an annuity? - ✔✔Premium
plus interest
✔✔At the time of initial contact and before a personal solicitation, a producer must
state: - ✔✔The name of the person making contact, the name of the producer in the
business to sell life insurance
✔✔Which of the following is not included as part of the contract in the entire contract? -
✔✔Endorsement if any
✔✔In group life insurance, what is it called when the employer pays for the employees?
- ✔✔Non-contributory
✔✔How many days that the insured cancel the policy and refund all of the premiums? -
✔✔10 days
✔✔The insured takes out the life insurance policy and the insured is suicide himself 13
months later, what will the insurance company do? - ✔✔Reimburse the premium
✔✔How long is a temporary license? - ✔✔18 months
✔✔Refunding part of the commission, premium, service, or anything of value to the
purchaser as an inducement to buy insurance coverage? - ✔✔Rebating
✔✔The purpose of the insured concerning about silicate the insurer becomes
insolvency and the Guaranty
Association? - ✔✔To be bankruptcy
✔✔What is the insured becomes totally disability? - ✔✔Waiver of premiums
