Minnesota Property & Casualty Exam Overview
Key Takeaways
- Minnesota requires 40 hours of pre-licensing education (20 hours Property + 20 hours Casualty)
- The combined exam has 130 scored questions plus up to 15 unscored pretest items, a 3-hour time limit, and a 70% passing score
- Exam results are valid for 3 years (one of the longest in the nation)
- Exam administered by PSI with both in-person and remote options
- CPCU, CIC, ARM, and AAI designations can waive pre-licensing requirement
Welcome to OpenExamPrep's FREE Minnesota Property & Casualty Insurance exam prep guide. This comprehensive resource covers Minnesota-specific regulations, licensing requirements, and state insurance laws you need to know to pass your exam in 2026.
About the Minnesota P&C Exam
The Minnesota Property & Casualty insurance examination is administered by PSI Services on behalf of the Minnesota Department of Commerce. Minnesota is the 22nd-largest state with a well-regulated insurance market.
Unique Feature: 3-Year Exam Validity
Minnesota exam results are valid for 3 years from the date of examination—one of the longest validity periods in the nation. This gives you plenty of time to complete your license application.
Exam Structure
| Exam Component | Details |
|---|---|
| Testing Provider | PSI Services |
| Regulatory Authority | Minnesota Department of Commerce |
| Passing Score | 70% correct or higher (percent correct, not scaled) |
| Combined Exam Questions | 130 scored + up to 15 unscored pretest (145 max) |
| Time Limit | 3 hours |
| Test Delivery | In-person or remote |
| Results | Immediate |
| Results Validity | 3 years |
Exam Options
| Exam Type | Scored Items | Total Items (with pretest) | Time |
|---|---|---|---|
| Property Only | 75 | up to 85 | 2 hours |
| Casualty Only | 75 | up to 85 | 2 hours |
| Combined P&C | 130 | up to 145 | 3 hours |
Pre-Licensing Education Requirements
| Line | Hours Required |
|---|---|
| Property Insurance | 20 hours |
| Casualty Insurance | 20 hours |
| TOTAL for P&C | 40 hours |
Exemptions from Pre-Licensing
You may be exempt if you hold:
- Two-year Minnesota vocational school degree in insurance
- Four-year college degree in business with insurance emphasis
- CPCU (Chartered Property Casualty Underwriter)
- CIC (Certified Insurance Counselor)
- ARM (Associate in Risk Management)
- AAI (Accredited Adviser in Insurance)
Step-by-Step Licensing Process
Step 1: Complete Pre-Licensing Education
Complete 40 hours of Commerce-approved education:
- 20 hours for Property Insurance
- 20 hours for Casualty Insurance
- Available classroom or online
Step 2: Register for the Exam
Register with PSI Services:
- Visit psiexams.com
- Create an account
- Select Minnesota P&C exam
- Pay $45 exam fee
- Choose in-person or remote
Step 3: Pass the Exam
On exam day:
- Complete 130 scored questions plus up to 15 unscored pretest items in 3 hours
- 70% required to pass
- Receive immediate results
- Results valid for 3 years
Step 4: Complete Fingerprinting
Fingerprinting available at PSI test sites:
| Step | Details |
|---|---|
| Provider | PSI (at test sites) |
| Cost | $63.75, paid at the test site |
| Timing | Strongly recommended on exam day |
| Purpose | Criminal background check |
Step 5: Apply for License
Apply through Sircon or NIPR:
- Initial license fee: $50 per line of authority (Minn. Stat. 60K.55, subd. 2)
- $100 total for Property + Casualty; there is no separate state base fee
- NIPR and Sircon charge their own transaction fee on top, which varies
- Submit within 3 years of passing
Step 6: Receive License
- Department of Commerce review
- Background check completed
- License valid for 2 years
Total Costs Summary
| Item | Cost |
|---|---|
| Pre-License Education (40 hrs) | $139-300 |
| Exam Fee (PSI) | $45 |
| Fingerprinting (PSI) | $63.75 |
| License Fee ($50 per line x 2) | $100 |
| TOTAL | ~$348-509 plus NIPR/Sircon transaction fees |
Minnesota Auto Insurance
Minnesota is a No-Fault state:
| Coverage | Requirement |
|---|---|
| Bodily Injury (per person) | $30,000 |
| Bodily Injury (per accident) | $60,000 |
| Property Damage | $10,000 |
| PIP (No-Fault) | $40,000 |
| Uninsured Motorist | 25/50 |
| Formula | 30/60/10 + $40K PIP |
No-Fault Features
- PIP Required: $40,000 minimum
- Verbal Threshold: Serious injury for lawsuit
- Stacking: UM/UIM can be stacked
Continuing Education
| Requirement | Details |
|---|---|
| Total Hours | 24 hours every 2 years |
| Ethics | 3 hours (included) |
| Renewal | By last day of birth month |
Contact Information
| Resource | Details |
|---|---|
| MN Dept of Commerce | mn.gov/commerce |
| Phone | (651) 539-1599 |
| Address | 85 7th Place East, Suite 280, St. Paul, MN 55101 |
| PSI Exams | psiexams.com |
What This Guide Covers
Chapter 1: Minnesota Insurance Regulation
- Department of Commerce structure
- Minnesota Insurance Code
- Licensing requirements
- Producer responsibilities
Chapter 2: Minnesota Property Insurance
- Homeowners requirements
- Minnesota FAIR Plan
- Commercial property
- State-specific provisions
Chapter 3: Minnesota Casualty Insurance
- No-Fault auto system
- PIP requirements
- 30/60/10 minimums
- Workers' compensation
Chapter 4: Ethics & Consumer Protection
- Unfair trade practices
- Claims handling
- Minnesota Insurance Guaranty Association
- Producer conduct
Key Numbers to Memorize
| Topic | Number |
|---|---|
| Pre-license hours | 40 hours |
| Property hours | 20 hours |
| Casualty hours | 20 hours |
| Exam questions | 130 scored (+ up to 15 pretest) |
| Exam time | 3 hours |
| Passing score | 70% |
| Exam validity | 3 years |
| Exam fee | $45 |
| Fingerprinting | $63.75 |
| License fee | $50 per line ($100 for P&C) |
| BI liability | 30/60 |
| PD liability | $10,000 |
| PIP | $40,000 |
| CE hours | 24 every 2 years |
Next Steps
- Enroll in 40-hour course - Commerce-approved provider
- Complete this FREE study guide - MN-specific content
- Study national P&C concepts - See our Property & Casualty exam prep
- Schedule exam - PSI
- Pass exam - 70%+ score
- Complete fingerprinting - PSI (on exam day!)
- Apply for license - Within 3 years
Let's get started with Chapter 1: Minnesota Insurance Regulation!
How long are Minnesota P&C exam results valid?
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Which designations can waive Minnesota pre-licensing education?
What are the minimum auto liability limits in Minnesota?
Where can you complete fingerprinting for a Minnesota license?