Minnesota Real Estate Exam Practice Question
The Minnesota Commissioner of Commerce is responsible for ensuring that insurance rates are NOT:
Correct Answer: C
Rationale: The Minnesota Commissioner of Commerce ensures that insurance rates are not unfairly discriminatory, meaning rates must be based on objective criteria rather than factors like race or gender. This protects consumers from bias.
Option A, standardized, is incorrect as rates can vary based on risk assessment and do not need to be uniform. Option B, competitive, is also wrong; the Commissioner encourages competition among insurers to benefit consumers. Option D, profitable, is misleading since insurers need to be profitable to remain viable, but this does not conflict with consumer protection laws.
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