Minnesota life and health practice exam

1. How many CE credit hours must a Minnesota insurance producer complete each licensing period?

1. 16 hours, including 3 hours of ethics
2. 24 hours, including 3 hours of ethics
3. 24 hours, with no ethics requirement
4. 30 hours, including 3 hours of ethics

2. What is the most of a Minnesota producer's required CE hours that may come from courses sponsored by or affiliated with an insurance company?

1. None
2. All of them
3. One-quarter
4. One-half

3. A Minnesota producer must report a conviction or guilty plea to a felony or gross misdemeanor within:

1. 10 days
2. 30 days
3. 60 days
4. The next license renewal

4. A Minnesota producer must report an administrative action taken in another jurisdiction within:

1. 60 days of the final disposition
2. 10 days of the action
3. 30 days of the final disposition
4. The next license renewal

5. After a Minnesota producer license is revoked, the person may not apply for a new license for at least:

1. 6 months
2. 2 years
3. 1 year
4. 5 years

1. Minnesota requires a life insurance grace period for premiums after the first of:

1. 10 days
2. 60 days
3. One month
4. 31 days

2. In Minnesota, a lapsed life policy may be reinstated within:

1. 3 years after the default
2. 5 years after the default
3. 2 years after the default
4. 1 year after the default

3. In Minnesota, a life policy must make policy loans available after how many full years' premiums have been paid?

1. 1
2. 5
3. 2
4. 3

4. In Minnesota, a death claim must be settled within:

1. 30 days after receipt of due proof of death
2. 10 days after receipt of due proof of death
3. 6 months after receipt of due proof of death
4. 2 months after receipt of due proof of death

1. Under Minnesota law, the owner of a replacement policy may return it for a refund within:

1. 45 days from delivery
2. 30 days from delivery
3. 10 days from delivery
4. 20 days from delivery

2. In Minnesota, a replacing insurer must notify the existing insurer within:

1. 5 working days of receiving the application or issuing the policy, whichever is sooner
2. 30 days
3. 10 working days
4. 3 working days

3. Minnesota replacing insurers must keep replacement records for at least:

1. 10 years
2. 3 years
3. 6 years
4. 5 years

1. The Minnesota Life and Health Insurance Guaranty Association covers life insurance death benefits up to:

1. $300,000
2. $500,000
3. $100,000
4. $250,000

2. The Minnesota guaranty association covers life insurance cash surrender values up to:

1. $130,000
2. $100,000
3. $500,000
4. $250,000

3. The Minnesota guaranty association limits total benefits with respect to any one life to:

1. $250,000
2. $300,000
3. $1,000,000
4. $500,000