2006 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