MISSISSIPPI INSURANCE CERTIFICATION
EVALUATION EXAMS 2026 QUESTIONS WITH
ANSWERS GRADED A+
◉ If you violate a cease and desist order you can be fined up to ____.
Answer: $1000 per violation
◉ If you do unlicensed activities you can be fined ____ and ____ years
of imprisonment or ____. Answer: 200-500 and 1-2 years of
imprisonment or both
◉ Whats the minimum fine of unlicensed activities?. Answer: $200
◉ Whats the maximum fine of unlicensed activities?. Answer: 500 and
1-2 years of imprisonment
◉ Agent is another name for a _____ or ____. Answer: Producer;Field
Underwriter
◉ A _____ is comments on an application between the field underwriter
and the underwriter. EX. If you see a woman smoking, but she puts on
her application that she does not. You, as the field underwriter, puts a
,comment towards the underwriter that she was lying.. Answer:
producer's report
◉ If the owner(parent) and insured(child) is different people, both have
to be ____. Answer: present
◉ What is a mutual company? Are they participating or non-
participating?. Answer: They give money back to the people that buy
insurance from them. So stockholders get dividends(Money) from
companies usually while the insured do not, with a mutual company the
insured get money back and there is no stockholders. They are
participating since the policyholders are actively participating.
◉ When you die the beneficiary is not taxed later, because ____.
Answer: you have been taxed on the premium all along
◉ A dividend is not taxed because it was taxed on a premium already.
You were taxed on the ____. Answer: front end
◉ USAA is a _____. They dont insure the public, they only insure the
members involved.. Answer: reciprocal insurer
◉ _____ is used for a reciprocal insurer. Answer: Attorney-in-fact
, ◉ _____ is formed or incorporated in Mississippi. Answer: Domestic
insurer
◉ _____ would not be formed or incorporated in Mississippi. Answer:
Foreign insurer
◉ What does the commissioner give to a company that gives them the
ability to solicit?. Answer: Certificate of Authority
◉ A Certificate of Authority must be renewed ____ before _____ by the
insurer(company). Answer: annually; June 1st
◉ How is the Mississippi Insurance Guaranteed Association financed?.
Answer: Mmeber's Fees
◉ Agents have to renew their license every_____ by the end of their
birth month. If not, they become an ____.. Answer: 2 years; inactive
agent
◉ Inactive Agents can still ______. Answer: receive renewal
commissions
◉ Controlled business= ____% of the business you get can be related to
you. Answer: 35
EVALUATION EXAMS 2026 QUESTIONS WITH
ANSWERS GRADED A+
◉ If you violate a cease and desist order you can be fined up to ____.
Answer: $1000 per violation
◉ If you do unlicensed activities you can be fined ____ and ____ years
of imprisonment or ____. Answer: 200-500 and 1-2 years of
imprisonment or both
◉ Whats the minimum fine of unlicensed activities?. Answer: $200
◉ Whats the maximum fine of unlicensed activities?. Answer: 500 and
1-2 years of imprisonment
◉ Agent is another name for a _____ or ____. Answer: Producer;Field
Underwriter
◉ A _____ is comments on an application between the field underwriter
and the underwriter. EX. If you see a woman smoking, but she puts on
her application that she does not. You, as the field underwriter, puts a
,comment towards the underwriter that she was lying.. Answer:
producer's report
◉ If the owner(parent) and insured(child) is different people, both have
to be ____. Answer: present
◉ What is a mutual company? Are they participating or non-
participating?. Answer: They give money back to the people that buy
insurance from them. So stockholders get dividends(Money) from
companies usually while the insured do not, with a mutual company the
insured get money back and there is no stockholders. They are
participating since the policyholders are actively participating.
◉ When you die the beneficiary is not taxed later, because ____.
Answer: you have been taxed on the premium all along
◉ A dividend is not taxed because it was taxed on a premium already.
You were taxed on the ____. Answer: front end
◉ USAA is a _____. They dont insure the public, they only insure the
members involved.. Answer: reciprocal insurer
◉ _____ is used for a reciprocal insurer. Answer: Attorney-in-fact
, ◉ _____ is formed or incorporated in Mississippi. Answer: Domestic
insurer
◉ _____ would not be formed or incorporated in Mississippi. Answer:
Foreign insurer
◉ What does the commissioner give to a company that gives them the
ability to solicit?. Answer: Certificate of Authority
◉ A Certificate of Authority must be renewed ____ before _____ by the
insurer(company). Answer: annually; June 1st
◉ How is the Mississippi Insurance Guaranteed Association financed?.
Answer: Mmeber's Fees
◉ Agents have to renew their license every_____ by the end of their
birth month. If not, they become an ____.. Answer: 2 years; inactive
agent
◉ Inactive Agents can still ______. Answer: receive renewal
commissions
◉ Controlled business= ____% of the business you get can be related to
you. Answer: 35
