Life Producer — Information & Free Practice

US-MN · Examination information

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Life Producer

Examination outline

Life - General Knowledge / Product Knowledge, Terms, and Concepts / Types of Policies - 15 items
- Traditional Whole Life Products
- Traditional Whole Life Products / Ordinary Whole Life
- Traditional Whole Life Products / Limited-Pay and Single-Premium Life
- Interest/market-Sensitive/adjustable Life Products
- Interest/market-Sensitive/adjustable Life Products / Universal Life
- Interest/market-Sensitive/adjustable Life Products / Variable Whole Life
- Interest/market-Sensitive/adjustable Life Products / Variable Universal Life
- Interest/market-Sensitive/adjustable Life Products / Interest-sensitive whole life
- Interest/market-Sensitive/adjustable Life Products / Indexed life
- Term Life
- Term Life / Types
- Term Life / Types / Level
- Term Life / Types / Decreasing
- Term Life / Types / Return of premium
- Term Life / Types / Anually renewable
- Term Life / Special Features
- Term Life / Special Features / Renewable
- Term Life / Special Features / Convertible
- Annuities
- Annuities / Single and Flexible Premium
- Annuities / Immediate and Deferred
- Annuities / Fixed and Variable
- Annuities / Indexed
- Annuities / Accumulation and Annuity Periods
- Annuities / Payout options
- Combination Plans and Variations
- Combination Plans and Variations / Joint Life (first to die)
- Combination Plans and Variations / Survivorship Life (second to die)
Life - General Knowledge / Product Knowledge, Terms, and Concepts / Policy Riders, Provisions, Options, and Exclusions - 15 items
- Policy Riders
- Policy Riders / Waiver of Premium and Waiver of monthly deduction
- Policy Riders / Guaranteed Insurability
- Policy Riders / Payor Benefit
- Policy Riders / Accidental Death and/or Accidental Death and Dismemberment
- Policy Riders / Term Riders
- Policy Riders / Other Insureds
- Policy Riders / Long term care
- Policy Riders / Return of premium
- Policy Riders / Disability
- Policy Riders / Cost of Living
- Policy Provisions and Options
- Policy Provisions and Options / Entire Contract
- Policy Provisions and Options / Insuring Clause
- Policy Provisions and Options / Free look
- Policy Provisions and Options / Consideration
- Policy Provisions and Options / Owner's Rights
- Policy Provisions and Options / Beneficiary Designations
- Policy Provisions and Options / Beneficiary Designations / Primary and Contingent
- Policy Provisions and Options / Beneficiary Designations / Revocable and Irrevocable
- Policy Provisions and Options / Beneficiary Designations / Common Disaster
- Policy Provisions and Options / Beneficiary Designations / Minor Beneficiaries
- Policy Provisions and Options / Beneficiary Designations / Designation by class
- Policy Provisions and Options / Premium Payment
- Policy Provisions and Options / Premium Payment / Modes
- Policy Provisions and Options / Premium Payment / Grace period
- Policy Provisions and Options / Premium Payment / Automatic Premium Loan
- Policy Provisions and Options / Premium Payment / Level or Flexible
- Policy Provisions and Options / Reinstatement
- Policy Provisions and Options / Policy Loans, Withdrawals, Partial Surrenders
- Policy Provisions and Options / Nonforfeiture Options
- Policy Provisions and Options / Dividends and Dividend Options (eg. participating, non-participating)
- Policy Provisions and Options / Incontestability
- Policy Provisions and Options / Assignments
- Policy Provisions and Options / Suicide
- Policy Provisions and Options / Misstatement of Age and Gender
- Policy Provisions and Options / Settlement Options
- Policy Provisions and Options / Accelerated death benefits
- Policy Exclusions
- Policy Exclusions / War
- Policy Exclusions / Aviation
- Policy Exclusions / Dangerous Occupation
Life - General Knowledge / Product Knowledge, Terms, and Concepts / Completing the Application, Underwriting, and Delivering the Policy - 12 items
- Completing the Application
- Completing the Application / Required Signatures
- Completing the Application / Changes in the Application
- Completing the Application / Consequences of Incomplete Applications
- Completing the Application / Warranties and Representations
- Completing the Application / Collecting the Initial Premium and Issuing the Receipt
- Completing the Application / Replacement
- Completing the Application / Disclosures at Point of Sale (i.e., HIPAA, HIV consent)
- Completing the Application / USA PATRIOT Act/anti-money laundering
- Completing the Application / Gramm-Leach-Bliley Act (GLBA) Privacy
- Underwriting
- Underwriting / Insurable Interest
- Underwriting / Medical Information and Consumer Reports
- Underwriting / Fair Credit Reporting Act
- Underwriting / Risk Classification
- Underwriting / Stranger/Investor-owned life insurance (STOLI/IOLI)
- Delivering the Policy
- Delivering the Policy / When Coverage Begins
- Delivering the Policy / Explaining the Policy and its Provisions, Riders, Exclusions, and Ratings to the Client
- Contract law
- Contract law / Elements of a contract
- Contract law / Elements of a contract / Consideration
- Contract law / Elements of a contract / Offer and Acceptance
- Contract law / Elements of a contract / Competent parties
- Contract law / Elements of a contract / Legal purpose
- Contract law / Unique aspects of the insurance contract
- Contract law / Unique aspects of the insurance contract / Conditional
- Contract law / Unique aspects of the insurance contract / Unilateral
- Contract law / Unique aspects of the insurance contract / Adhesion
- Contract law / Unique aspects of the insurance contract / Aleatory
Life - General Knowledge / Product Knowledge, Terms, and Concepts / Retirement, and other Insurance Concepts - 8 items
- Third-Party Ownership
- Life Settlements
- Group Life Insurance
- Group Life Insurance / Conversion Privilege
- Group Life Insurance / Contributory vs. Noncontributory
- Retirement Plans
- Retirement Plans / Qualified Plans
- Retirement Plans / Nonqualified Plans
- Life Insurance needs analysis/suitability
- Life Insurance needs analysis/suitability / Personal insurance needs
- Life Insurance needs analysis/suitability / Business insurance needs
- Life Insurance needs analysis/suitability / Business insurance needs / Key person
- Life Insurance needs analysis/suitability / Business insurance needs / Buy sell
- Social Security Benefits
- Tax Treatment of Insurance Premiums, Proceeds, and Dividends
- Tax Treatment of Insurance Premiums, Proceeds, and Dividends / Individual Life
- Tax Treatment of Insurance Premiums, Proceeds, and Dividends / Group Life
- Tax Treatment of Insurance Premiums, Proceeds, and Dividends / Modified Endowment Contracts (MECs)
Life & Health - Minnesota Specific / State Laws, Rules, and Regulations / Minnesota Laws, Rules, and Regulations Common to Life, Health, Property, and Casualty Insurance - 20 items
- Powers and Duties of the Commissioner
- Powers and Duties of the Commissioner / Broad Powers
- Powers and Duties of the Commissioner / Examination of Records
- Powers and Duties of the Commissioner / Notice and Hearing
- Powers and Duties of the Commissioner / Forms and Rate Review
- Definitions
- Definitions / Domestic and Foreign
- Definitions / Stock and Mutual
- Definitions / Certificate of Authority
- Definitions / Fraternals
- Licensing and Appointments
- Licensing and Appointments / Educational Requirements
- Licensing and Appointments / Educational Requirements / Prelicensing
- Licensing and Appointments / Educational Requirements / Continuing Education
- Licensing and Appointments / Educational Requirements / Long-Term Care (LTC)
- Licensing and Appointments / Educational Requirements / Annuities
- Licensing and Appointments / Types of Licenses
- Licensing and Appointments / Types of Licenses / Producer
- Licensing and Appointments / Types of Licenses / Temporary
- Licensing and Appointments / Types of Licenses / Nonresident
- Licensing and Appointments / Termination of License
- Licensing and Appointments / Termination of License / Expiration
- Licensing and Appointments / Termination of License / Revocation or Suspension
- Licensing and Appointments / Appointment and termination of appointment
- Licensing and Appointments / Maintenance and Duration of License
- Trade Practices
- Trade Practices / Prohibited Practices
- Trade Practices / Prohibited Practices / Unfair Claims Settlement Methods and Practices
- Trade Practices / Prohibited Practices / Rebating
- Trade Practices / Prohibited Practices / Misrepresentation
- Trade Practices / Prohibited Practices / Defamation
- Trade Practices / Prohibited Practices / Discrimination
- Trade Practices / Prohibited Practices / Penalties
- Trade Practices / Prohibited Practices / Misappropriation or Conversion of Funds
- Trade Practices / Prohibited Practices / Forgery
- Trade Practices / Prohibited Practices / Suitability
- Trade Practices / Prohibited Practices / Twisting
- Trade Practices / Compensation of Licensees
- Trade Practices / Compensation of Licensees / Commissions
- Trade Practices / Compensation of Licensees / Fees for Service
- Trade Practices / Advertising
- Trade Practices / Agent Conduct and Insurance Marketing Standards
- Trade Practices / Required Disclosures
- Guaranty Association
- Guaranty Association / Notice of Policyholder Rights
Life & Health - Minnesota Specific / State Laws, Rules, and Regulations / Minnesota Laws, Rules, and Regulations Pertinent to Life Insurance Only - 5 items
- Beneficiaries
- Beneficiaries / Protection from Creditors
- Beneficiaries / Policyowner Rights
- Right to Cancel
- Right to Cancel / Insured
- Right to Cancel / Insurance Company
- Policy Provisions
- Policy Provisions / Grace Period
- Policy Provisions / Back Dating
- Credit Insurance (Life and A&H)
- Group Life
- Continuation of Coverage
- Conversion of Coverage
- Insurable Interest Act
- Replacement Insurance

Examination sources

PSI Life Producer Content Outline
Content outline, examination heading
PSI Life Producer Content Outline
Published outline, section 1: Life - General Knowledge / Product Knowledge, Terms, and Concepts / Types of Policies - 15 items
PSI Life Producer Content Outline
Published outline, section 2: Life - General Knowledge / Product Knowledge, Terms, and Concepts / Policy Riders, Provisions, Options, and Exclusions - 15 items
PSI Life Producer Content Outline
Published outline, section 3: Life - General Knowledge / Product Knowledge, Terms, and Concepts / Completing the Application, Underwriting, and Delivering the Policy - 12 items
PSI Life Producer Content Outline
Published outline, section 4: Life - General Knowledge / Product Knowledge, Terms, and Concepts / Retirement, and other Insurance Concepts - 8 items
PSI Life Producer Content Outline
Published outline, section 5: Life & Health - Minnesota Specific / State Laws, Rules, and Regulations / Minnesota Laws, Rules, and Regulations Common to Life, Health, Property, and Casualty Insurance - 20 items
PSI Life Producer Content Outline
Published outline, section 6: Life & Health - Minnesota Specific / State Laws, Rules, and Regulations / Minnesota Laws, Rules, and Regulations Pertinent to Life Insurance Only - 5 items
PSI Minnesota Insurance Examinations Candidate Information Bulletin
Page 9, Score Reporting
PSI Life Producer Content Outline
Life general knowledge, scored and pretest questions
PSI Minnesota Insurance Examinations Candidate Information Bulletin
Page 2, fees table, Life Producer
PSI Minnesota Insurance Examinations Candidate Information Bulletin
Page 1, examinations by PSI, state contracting