Minnesota Property & Casualty Insurance License Exam — All Questions
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2 questions
Minnesota Licensing & CE
Before a licensed Minnesota producer may transact business for a specific insurer, what must occur?
- a.Nothing further once the license is issued
- b.The insurer must appoint the producer, with the appointment on file with the Department of Commerce✓
- c.The producer must post a surety bond with the state treasurer
- d.The producer must establish residency in the insurer's home state
A license authorizes a person to act as a producer, but to represent a specific insurer that company must appoint the producer, with the appointment recorded with the Minnesota Department of Commerce. A producer may hold appointments from several insurers at once.
Minnesota Licensing & CE
Which statement best describes continuing education for a Minnesota resident P&C producer?
- a.CE is never required
- b.CE is required only for the first renewal
- c.State-approved continuing education, including an ethics component, is required each renewal cycle✓
- d.CE can be satisfied only by retaking the licensing exam
Following the NAIC model, Minnesota requires resident producers to complete approved continuing education each renewal cycle, including an ethics portion. The exact hour totals are set by the Minnesota Department of Commerce and should be verified before renewal.