MN Life and Health Insurance EXAM 2026 TEST!! Graded A+ | 2025|2026
EXAM UPDATE EXAM Questions with 100% Correct Answers | Verified
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
,MN Life and Health Insurance EXAM 2026 TEST!! Graded A+ | 2025|2026
EXAM UPDATE EXAM Questions with 100% Correct Answers | Verified
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
, MN Life and Health Insurance EXAM 2026 TEST!! Graded A+ | 2025|2026
EXAM UPDATE EXAM Questions with 100% Correct Answers | Verified
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
The penally for rebating is $____ to $____ per violation. A promotional gift or advertising item of $____
is not a rebate. - (ANSWER)$60 to $200, $25
The insurer must reply to customer claims and inquires within ____ days. - (ANSWER)10 days
Policies must be delivered to the insured within ____ working days of the producers recipes from the
insurer. - (ANSWER)30 days
Producer financial and compliant records must be kept on file for ____ years. - (ANSWER)6 years.
Premium refunds must be sent to insured within _____ days of the producer receipt from the insurer. -
(ANSWER)5 days
Insurers: Policy forms, applications, and advertising must be retained for ____ years after the effective
date. - (ANSWER)3 years
Insurers: Claim records must be retained for ____ years after the claim is paid or denied - (ANSWER)3
years
Insurers: must refund unearned premium to the insured within _____ days. - (ANSWER)30 days
Oral binders must be put into writing to the insured within _____ business days. - (ANSWER)5 days
EXAM UPDATE EXAM Questions with 100% Correct Answers | Verified
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
,MN Life and Health Insurance EXAM 2026 TEST!! Graded A+ | 2025|2026
EXAM UPDATE EXAM Questions with 100% Correct Answers | Verified
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
, MN Life and Health Insurance EXAM 2026 TEST!! Graded A+ | 2025|2026
EXAM UPDATE EXAM Questions with 100% Correct Answers | Verified
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
The penally for rebating is $____ to $____ per violation. A promotional gift or advertising item of $____
is not a rebate. - (ANSWER)$60 to $200, $25
The insurer must reply to customer claims and inquires within ____ days. - (ANSWER)10 days
Policies must be delivered to the insured within ____ working days of the producers recipes from the
insurer. - (ANSWER)30 days
Producer financial and compliant records must be kept on file for ____ years. - (ANSWER)6 years.
Premium refunds must be sent to insured within _____ days of the producer receipt from the insurer. -
(ANSWER)5 days
Insurers: Policy forms, applications, and advertising must be retained for ____ years after the effective
date. - (ANSWER)3 years
Insurers: Claim records must be retained for ____ years after the claim is paid or denied - (ANSWER)3
years
Insurers: must refund unearned premium to the insured within _____ days. - (ANSWER)30 days
Oral binders must be put into writing to the insured within _____ business days. - (ANSWER)5 days
