Minnesota life insurance Study guides, Class notes & Summaries

The initial amount of credit life insurance may NOT exceed A-The borrower's annual income. B-The amount to be repaid under the contract. C-An amount set by statute and adjusted regularly for inflation. D-The borrower's monthly income. - Answer B This state provided for a temporary license for all of the following EXCEPT A-A producer's time in the military service. B-A producer's retirement. C-The death of a producer. D-A producer's disability. - Answer B Agents who persuade insureds to...

MINNESOTA LIFE INSURANCE EXAM 2024/2025

MN life insurance questions and answers rated A+ In what type of policy does the owner pay the same premium throughout the term of the contract? Level premium policy Which type of beneficiary CANNOT be changed without consent? The beneficiary is irrevocable How many total hours of continuing education covering the subjects for which the license is licensed must complete. 24 hours Accidental and dismemberment will pay the principal sum of death occurs: As a result of an acciden...

Which of the following is not a duty of the Commissioner? a. Issue an insurance license for a producer b. Make state insurance laws c. Handle insurance-related consumer complaints d. Enforce state insurance laws - b. Make state insurance laws During policy solicitation an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of an unfair trade practice called? a. Twisting b. False advertising c. Controlled business ...

Minnesota Life insurance Latest Version Rated A+ Ordinary Life Several types of individual life ins Temporary term permanent whole universal, variable other interest sensitive plans Term life insurance provides only a death benefit within a specified period of time whole life provides death and living benefits Industrial Life encompasses home service insurance. Home service life insurance is Home service life insurance is issued in very small face amounts, such as $1,000 to $5...

The initial amount of credit life insurance may NOT exceed A-The borrower's annual income. B-The amount to be repaid under the contract. C-An amount set by statute and adjusted regularly for inflation. D-The borrower's monthly income. - ️️B This state provided for a temporary license for all of the following EXCEPT A-A producer's time in the military service. B-A producer's retirement. C-The death of a producer. D-A producer's disability. - ️️B Agents who per...

Which of the following is not a duty of the Commissioner? a. Issue an insurance license for a producer b. Make state insurance laws c. Handle insurance-related consumer complaints d. Enforce state insurance laws - b. Make state insurance laws During policy solicitation an insurer exaggerates the financial condition of one of its competitors and makes it sound worse than it is. This is an example of an unfair trade practice called? a. Twisting b. False advertising c. Controlled business ...

MINNESOTA LIFE INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+MINNESOTA LIFE INSURANCE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+

In what type of policy does the owner pay the same premium throughout the term of the contract? a. Deferred premium policy b. Single premium policy c. Level premium policy d. Flexible premium policy - c. Level premium policy Which type of beneficiary CANNOT be changed without consent? a. When there are more than two beneficiaries b. The beneficiary is the spouse c. The beneficiary is a child of the proposed insured d. The beneficiary is irrevocable - d. The beneficiary is irrevocable H...

MINNESOTA Life Insurance Exam Revision Questions Correctly Answered.