MN Life and Health Insurance Exam questions with correct answers
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Course
Life and health insurance
Institution
Life And Health Insurance
The commissioner examines each insurer every ___ Years. ans 5 years
$____ fine per day if a person violates, aids, or abets a written cease and desist order ans $10,000
License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner h...
MN Life and Health Insurance Exam
questions with correct answers
The commissioner examines each insurer every ___ Years. ans ✓✓ 5 years
$____ fine per day if a person violates, aids, or abets a written cease and desist order ans ✓✓ $10,000
License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner has ____ days to hold the hearing. ans ✓✓ 30 Days, 30 days
All accident and health insurance policies must be filed with the commissioner at least ____ days prior to use ans ✓✓ 60 days
During Pre-licensing...
____ hours per major line of authority
_____% passing score on state exam
____ number of years the exam results are valid ans ✓✓ 20, 70%, 3 YEARS
License application fee ans ✓✓ $50 per line of authority
____ Credit hours per licensed producer
___ hours must be in ethics ans ✓✓ 25 credit hours, 3
___ hour partnership prior to selling LTC ans ✓✓ 8 hour ___ hour refresher course every two years after initial training for LTC ans ✓✓ 4 hours
License periods after the first licensing period are___ years ans ✓✓ 2 years
A temporary insurance producer license may be issued for up to ___ days ans ✓✓ 180 days
A licensee's time to notify the commissioner of address change is ___ days ans ✓✓ 10 days
A license is suspended for any period of time no less than ___ months ans ✓✓ 3 months`
A person who's license is revoked can reapply after ___ years. The producer must obtain a performance bond of at least _____ ans ✓✓ 2 years, $20,000
Commissioner may fine a producer up to ___ per violation ans ✓✓ $10,000
The insurer must fine notice of appointment within ___ days of first sale by the producer. ans ✓✓ 15 days
An insurer that terminates an appointment must notify the commissioner within _____ days ans ✓✓ 30 days
Within ____ days, the insurer must send written notice of the termination to the producer. ans ✓✓ 15 days Within ___ days after receiving notice of termination, the producer may file written comments concerning the termination with the commissioner ans ✓✓ 30 days
The penalty for failing to appoint a producer is $____ per offense, and up to $____ maximum per unappointed producer ans ✓✓ $25, $300
The producer must notify the commissioner of any administrative action taken or criminal prosecution against the producer within ____ days ans ✓✓ 30 days
The producer must notify the commissioner within ______ days of any felony or gross misdemeanor conviction, guilty plea, or plea of no contest. ans ✓✓ 10 days
A lapsed licensee can reinstate license within ____ months. ans ✓✓ 12 Months
The penally for rebating is $____ to $____ per violation. A promotional gift or advertising item of $____ is not a rebate. ans ✓✓ $60 to $200, $25
The insurer must reply to customer claims and inquires within ____ days. ans ✓✓ 10 days
Policies must be delivered to the insured within ____ working days of the producers recipes from the insurer. ans ✓✓ 30 days
Producer financial and compliant records must be kept on file for ____ years. ans
✓✓ 6 years.
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