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Minnesota Laws, Rules and Regulations Common to Life, Health, Property, and Casualty Insurance $9.83   Add to cart

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Minnesota Laws, Rules and Regulations Common to Life, Health, Property, and Casualty Insurance

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Minnesota Laws, Rules and Regulations Common to Life, Health, Property, and Casualty Insurance Commissioner's Oversight How often does the Commissioner examine each insurer? Options: a. 1 year; b. 2 years; c. 5 years; d. 10 years Answer: c. 5 years; Cease and Desist Order What is the ...

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  • July 18, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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Minnesota Laws, Rules and Regulations Common to Life, Health, Property,
and Casualty Insurance
Commissioner's Oversight



How often does the Commissioner examine each insurer? Options: a. 1 year; b. 2 years; c. 5 years; d. 10
years

Answer: c. 5 years;



Cease and Desist Order



What is the daily fine for violating, aiding, or abetting a written cease and desist order? Options: a.
$1,000; b. $5,000; c.$10,000; d.$20,000

Answer: c.$10,000;



License Request and Hearing



Within how many days of the Commissioner's order can a licensee request a hearing? Options: a. 15
days; b. 30 days; c. 60 days; d. 90 days

Answer: b. 30 days;



Insurance Policy Filing



How many days prior to use must accident and health insurance policies be filed with the
Commissioner? Options: a. 15 days; b. 30 days; c. 60 days; d. 120 days

Answer: c. 60 days;



Licensing Requirements



How many prelicensing hours are required for major lines of authority? Options: a. 10 hours; b. 15
hours; c. 20 hours; d. 25 hours

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