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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BillRanker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
