Minnesota Laws, Rules and Regulations
Common to Life, Health, Property, and
Casualty Insurance
$10,000 - correct answer-$____ fine per day if a person violates, aids, or abets a written
cease and desist order
$25 & $300 - correct answer-The penalty for failing to appoint a producer is $___ per
offense, up to $___ maximum per unappointed producer
$50 - correct answer-$___per line of authority for license application fees
$60 to $200 & $25 - correct answer-The penalty for rebating is $___ to $___ per violation. A
promotional advertising item or gift of $___ or less per year is not a rebate
10 days - correct answer-A licensee's time to notify the Commissioner of address change is
___ days
10 days - correct answer-The insurer must reply to customer claims and inquiries withing
___ days
10 days - correct answer-The producer must notify the Commissioner within ___ days of any
felony or gross misdemeanor conviction, guilty plea, or plea of no contest
12 months - correct answer-A lapsed licensee can reinstate license within ___ months
15 days - correct answer-The insurer must file a notice of appointment within ___days of first
sale by the producer
15 days - correct answer-Within___days, the insurer must send written notice of the
termination to the producer
18 years - correct answer-Individuals must be at least ___ years old to apply for a license
180 days - correct answer-A temporary insurance producer license may be issued for up to
___ days
2 years - correct answer-License periods are ___ years (except for first period of licensure)
2 years & $20,000 - correct answer-A person whose license is revoked can reapply after ___
years. The producer must obtain a performance
20 hours - correct answer-___prelicensing hours per major line of authority
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