2008 Minnesota Statutes

60K.36 EXAMINATIONS.

Subdivision 1.Requirement.

A resident individual applying for an insurance producer license shall pass a written examination unless exempt under subdivision 2 or section 60K.40. The examination must test the knowledge of the individual concerning the lines of authority for which the application is made, the duties and responsibilities of an insurance producer, and the insurance laws and rules of this state. Examinations required by this section must be approved by the commissioner.

Subd. 2.Examination not required.

A resident individual applying for a limited lines credit insurance, title insurance, travel baggage insurance, mobile telephone insurance, or bail bonds license is not required to take a written examination.

Subd. 3.Administration.

The commissioner may make arrangements, including contracting with an outside testing service, for administering examinations.

Subd. 4.Course of study.

The examination must be given only after the applicant has completed a program of classroom studies in a school, which must not include a school sponsored by, offered by, or affiliated with an insurance company or its producers; except that this limitation does not preclude a bona fide professional association of insurance producers, not acting on behalf of an insurer, from offering courses. The course of study must consist of 30 hours of classroom study devoted to the basic fundamentals of insurance for those seeking a Minnesota license for the first time and 7.5 hours devoted to the line in which the producer seeks to be licensed. The program of studies or study course must have been approved by the commissioner in order to qualify under this subdivision. If the applicant has been previously licensed for the particular line of insurance in the state of Minnesota, the requirement of a program of studies or a study course must be waived. A certification of compliance by the organization offering the course must accompany the applicant's license application. This program of studies in a school or a study course does not apply to limited lines farm property liability applicants or to variable life and variable annuity applicants.

Subd. 5.Failure to appear or pass.

An individual who fails to appear for the examination as scheduled or fails to pass the examination shall reapply for an examination and remit all required fees and forms before being rescheduled for another examination.

Subd. 6.Results; validity.

Examination results are valid for three years from the date of the examination.

History:

2001 c 117 art 1 s 7; 2005 c 100 s 3