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MINNESOTA LIFE INSURANCE EXAM 2024/2025
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MINNESOTA LIFE INSURANCE EXAM 2024/2025
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MINNESOTA LIFE INSURANCE EXAM2024/2025
,MINNESOTA LIFE INSURANCE EXAM
2024/2025
The initial amount of credit life insurance may NOT exceed
A-The borrower's annual income.
B-The amount to be repaid under the contract.
C-An amount set by statute and adjusted regularly for inflation.
D-The borrower's monthly income. - Precise Answer ✔✔B
This state provided for a temporary license for all of the following
EXCEPT
A-A producer's time in the military service.
B-A producer's retirement.
C-The death of a producer.
D-A producer's disability. - Precise Answer ✔✔B
Agents who persuade insureds to cancel a policy in favor of another one
when it might not be in the insured's best interest are guilty of
A-Rebating.
B-Twisting.
C-Defamation.
,D-Misrepresentation. - Precise Answer ✔✔B
Which of the following is NOT a mandatory provision in health
insurance policies?
A-Grace period
B-Entire contract
C-Notice of claim
D-Illegal occupation - Precise Answer ✔✔D
Personal Lines property policies are designed to meet the needs of
A-Small companies.
B-Nonprofit corporations.
C-Private insurers.
D-Individuals. - Precise Answer ✔✔D
What is the minimum required number of hours of prelicensing
education per line of authority in this state?
A-10 hours
B-15 hours
C-20 hours
D-40 hours - Precise Answer ✔✔C
, What kind of deductible is applied between basic coverage and major
medical coverage?
A-Middle deductible
B-Interval deductible
C-Corridor deductible
D-Bridging deductible - Precise Answer ✔✔C
A rider attached to a life insurance policy that provides coverage on the
insured's family members is called the
A-Payor rider.
B-Other-insured rider.
C-Change of insured rider.
D-Juvenile rider. - Precise Answer ✔✔B
Which of the following is true regarding the master policy?
A-It is the same as the entire contract.
B-It is only available for creditor-debtor groups.
C-It is issued to the sponsor of the group.
D-It is issued to individual participants. - Precise Answer ✔✔C
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