Mn life insurance - Study guides, Revision notes & Summaries

MN Life and Health Insurance Exam Questions and Answers Rated A+ The commissioner examines each insurer every ___ Years. 5 years $____ fine per day if a person violates, aids, or abets a written cease and desist order $10,000 License fee may request a hearing within ____ days of commissioners order. After hearing request, Commissioner has ____ days to hold the hearing. 30 Days, 30 days All accident and health insurance policies must be filed with the commissioner at least ____ days...

MN Life Insurance Commissioner's Duties What is NOT a duty of the Commissioner? Options: a. Issue an insurance license for a producer; b. Make state insurance laws; c. Handle insurance-related consumer complaints; d. Enforce state insurance laws Answer: b. Make state insurance laws; Unfair Trade Practices What is an example of an unfair trade practice during policy solicitation? Options: a. Twisting; b. False advertising; c. Controlled business; d. Defamation Answer: d. Defamati...

MN Life and Health Insurance Exam

MN Life and Health Insurance Exam

RULES AND REGULATION MN LIFE INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+RULES AND REGULATION MN LIFE INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+RULES AND REGULATION MN LIFE INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

Beneficiary Protection from Creditors - If beneficiary eligible to receive death benefit but chooses to leave part/all on deposit with insurer, money is protected from claims of the beneficiaries creditors. Policyowner Rights - Spendthrift provision: Gives insurer the right to hold back proceeds received by beneficiary and protect them from creditors. For old policies without this provision, owner of policy has the right to add it. Insured has up to _____ days from receiving the policy to c...

MN Life and Health Insurance Exam

MN life insurance exam with correct answers.

MN LIFE ACCIDENT & HEALTH PRODUCER EXAM LATEST UPDATE GRADED A+ Speculative Risk involves the chance of loss or gain, and is not insurable Pure Risk involves the chance of loss only, and is insurable Peril Something that causes a direct loss Physical Hazard Visible (Black ice) Moral Hazard dishonest tendencies (Fraud) Morale Hazard Carless, Irresponsible (leaving keys in car) Exposure susceptibility to loss Adverse selection those with high risk situations attempt to ...

MN Life, Accident and Health Insurance exam with complete solutions 2024