Free Minnesota Life Exam Practice Test
The Minnesota Life producer exam is given by PSI and covers general insurance concepts, life policies, and Minnesota insurance law and regulation.
75
Scored items (approx.)
120 min
Time limit
70%
Passing score
910
Practice questions
Topics covered on the Life exam
Insurance Regulation
244 practice questions · Regulatory authority, Head of the regulator, Continuing education hours, Ethics requirement, …
General Insurance Concepts
78 practice questions · Law of large numbers, Adverse selection, Indemnity, Utmost good faith, …
Life Insurance Basics
133 practice questions · Insurable interest, Risk and protection, Underwriting, Premium factors, …
Types of Life Insurance Policies
122 practice questions · Term insurance, Whole life, Universal life, Variable life, …
Life Policy Provisions Options and Riders
153 practice questions · Grace period, Incontestability, Suicide clause, Reinstatement, …
Annuities
100 practice questions · Purpose, Immediate vs deferred, Fixed annuity, Variable annuity, …
Federal Tax Considerations
80 practice questions · Death benefit taxation, Cash value growth, Modified endowment contract, Annuity taxation, …
Practice Test: Life
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
