Minnesota CE Requirements
Resident Requirements
ATTENTION: Based on the new Minnesota Department of Commerce rules, effective 7/1/10, it is possible that the credit hours of all approved CE courses could be reduced. In order to receive the full amount of credits approved by the Minnesota Department of Commerce, Kaplan Financial suggests that you complete your purchased CE courses by 6/30/10. If you have any questions, please call our Customer Service Department at (800)824-8742 or visit this link.
Effective July 1, 2010, all insurance producers and adjusters will be required to complete 3 hours of Ethics as part of their total 24 hours of CE due each renewal period.
Effective July 1, 2010, all Independent and Public insurance Adjusters will be required to complete 24 hours of continuing education, starting with the 10/31/2010 renewal. Three hours of Ethics are required as part of the total 24 hours of CE due each renewal period. There is no restriction for Adjusters regarding the method of instruction, but the hours must be from Commerce-approved courses. Independent and Public Adjusters can complete continuing education courses approved for insurance Producers.
Effective July 1, 2010, The MN Commerce Department will no longer limit you to only 50% online courses to meet your CE requirement. After this date, you can complete all of your CE requirement through online, correspondence or classroom courses. **No more than 50% of the CE hours can be from company seminars.
Minnesota does not require that insurance Producers complete only modules relating to the lines of authority that they hold. For example, a Producer who holds a Life line of authority can complete and use a continuing education course pertaining to property and casualty. We will be following this same rule with the Independent and Public Adjusters in that they can complete any course that is currently approved for insurance Producers. In other words, all insurance courses will be approved for "Insurance" continuing education; we will not distinguish between Producer or Adjuster licensees.
Long-Term Care Training
Long Term Care: Beginning 1/1/08, producers must complete an initial 8 hour training course prior to selling long-term care products, and a 4 hour refresher course biennially thereafter. The training must be specific to Minnesota Medicaid/Medical Assistance and its relationship to Minnesota Partnership plans - this applies to both residents and nonresidents.
Non Resident Requirements
Non-residents who comply with CE requirements of the resident state, are exempt from MN CE requirements, except for the LTC requirement. Licensees who do not claim this exemption must satisfy MN resident CE requirements.
Exemptions
Other
Individuals who no longer actively solicit or sell insurance may apply for a waiver of the CE requirement. If the waiver is granted, the agent may only service existing policies under the renewed license but may not sell or solicit new business.
Proctor/Monitor Requirements
Print Requirements
Courses may be either classroom or online. No self-study is allowed in paper and pencil format but online courses with online examinations are allowed.
Online Requirements
Online exams do not require a 3rd party monitor, however, the student must still fill out and sign this online Declaration of Compliance. The student should fill in their own name/address and license number and/or SSN as though they are the Proctor/Monitor. By signing this Declaration the student is affirming and/or acknowledging that they understand and they completed the online exam without any assistance by any person, the course materials or other materials. The student's acknowledgement shall also include the students understanding that a violation of such standards can result in the loss of course credit. The Declaration of Compliance is electronically transmitted to Kaplan Financial upon completion of the exam.
Reporting Requirements
Report within 30 days of completion. Need Agent's SSN to report. Weekly reporting.
Period Criteria Requirements
Minnesota resident and nonresident licensees must complete their CE requirements by October 31 every two years.
Carryover Criteria Requirements
CARRYOVER OF CE HOURS IS NOT PERMITTED
Course Repetition
Courses may not be repeated within a 3 year period.
Acceptable Training Methods
ONLINE (INTERNET DELIVERY)
COMPANY SEMINARS
CLASSROOM
Notice
This information is based on state laws and regulations and is subject to change. Kaplan Financial Education makes every effort to make sure this information is current and accurate, however, Kaplan Financial Education is not engaged in rendering legal or professional advice and shall not be held responsible for inaccuracies contained herein.
My Cart (