Free Insurance Regulation Practice Questions
Minnesota Property exam — 168 practice questions.
Subtopics: Exam requirement, Exam exemptions, Prelicensing education, Prelicensing exemptions, Exam results, Exam retakes, Application requirements, Criminal history check, Residency, Business entity license, Service of process, Lines of authority, Limited lines, Lapsed license, Change of address, Renewal waivers, License term, Nonresident licensing, Moving to Minnesota, Assumed names, Temporary license, Grounds for discipline, Hearings, Relicensure after revocation, Penalties, Tax clearance, Surrender of license, Personal solicitation, Fees for services, Premium handling, Privacy of insured, Written binders, Certificates of insurance, Unauthorized insurers, Commissions, Agency relationship, Appointments, Appointment termination, Reporting actions, Continuing education, Nonresident CE, Licensing exceptions, Licensing definitions, Regulator, Commissioner powers, Cease and desist, Insurer examinations, Insurer types, Certificate of authority, Surplus lines, Managing general agents, Rebating, Misrepresentation, Defamation, Boycott and coercion, False advertising, Misappropriation, Producer protections, Credit information, Records retention, Claims practices, Guaranty association, Policy readability, Agent conduct rules, Premium collection, Unappointed agents, Insurance fraud, Privacy, Unfair practices, Licensing, Adjusters, Adjuster CE, Lender requirements, Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, Flood Disaster Protection Act, Biggert-Waters Reform Act, Federal Insurance Office, FAIR Plan origins, Coastal Barrier Resources Act, McCarran-Ferguson antitrust, Gramm-Leach-Bliley opt-out, Gramm-Leach-Bliley notice, FCRA investigative report, FCRA free report, TRIA certification, TRIA federal share, TRIA program trigger, TRIA insurer deductible, TRIA lines covered, TRIA disclosure, 18 USC 1033 penalty, Nonadmitted and Reinsurance Reform Act, Surplus lines diligent search, Exempt commercial purchaser, Guaranty association - surplus lines, Guaranty association purpose, Twisting, Boycott, coercion, intimidation, Unfair claims practices, Commingling premiums, Mandatory flood purchase amount, Force-placed flood, Private flood acceptance, HFIAA surcharge, Risk retention groups, Privacy model - adverse underwriting, Do Not Call existing relationship
Read the Insurance Regulation study guide
Sample questions & answers
1. Under Minnesota law, which resident applicants for an individual producer license must pass a written examination?
Applicants for a major line such as property or casualty
Minn. Stat. 60K.36 requires a resident individual applying for a producer license to pass a written exam on the lines sought, the producer's duties, and Minnesota insurance law, unless an exemption applies.
2. Which resident applicant is NOT required to take a written licensing examination in Minnesota?
An applicant for a bail bonds license
Minn. Stat. 60K.36, subd. 2 exempts resident applicants for limited lines credit, title, travel, and bail bonds licenses from the written exam.
3. How many hours of approved prelicensing study does Minnesota require for each major line of authority sought?
20 hours
The program of studies must consist of 20 hours per major line of authority, so a property and casualty candidate completes 20 hours for each line.
4. Which prelicensing course would NOT satisfy Minnesota's course-of-study requirement for a producer exam?
A course sponsored by an insurance company
The program of studies may not include a course sponsored by, offered by, or affiliated with an insurer or its producers; a bona fide producer association not acting for an insurer may offer courses.
Practice: Insurance Regulation
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.
