MISSISSIPPI INSURANCE ACTUAL 2026/2027 EXAM
QUESTIONS AND SOLUTIONS RATED A+
✔✔All of the following could be covered under a dwelling policy EXCEPT - ✔✔A six-unit
apartment building
✔✔The Johnson family home is covered by DP-3. When a fire destroys the home, they
are forced to live in a hotel for two months. What coverage would reimburse them for
the hotel, dining, laundry, and transportation expenses during the two months? -
✔✔Coverage E
✔✔Which dwelling form pays losses to dwellings and other structures on an actual cash
value basis? - ✔✔DP-1
✔✔The DP-3 provides - ✔✔Open peril coverage for the dwelling and broad coverage
for personal property
✔✔What is the standard deductible under the emergency program of the National Flood
insurance program? - ✔✔$2,000
✔✔The bailee policy pays - ✔✔The customer
✔✔Which of the following is excluded in the equipment breakdown coverage form? -
✔✔Electrical failure
✔✔Signing another person's name with the intent to deceive is known as - ✔✔Forgery
✔✔Which of the following terms best describes the unlawful taking of property? -
✔✔Theft
✔✔The office building risk that may be eligible for a businessowners policy is - ✔✔6
stories or less and 100,000 square feet
✔✔In addition to maximum floor space of 25,000, the businessowners eligibility rules
limit eligible risks to a maximum of - ✔✔$3 million in annual sales
✔✔Which of the following is NOT a benefit that is paid under workers' compensation
laws? - ✔✔Pain and suffering
✔✔The Commissioner of Insurance in Mississippi is appointed to office for a term of -
✔✔None of the above
, ✔✔An incorporated insurer owned by its policyholders is known as a - ✔✔Mutual
insurer
✔✔ - ✔✔Domestic insurer
✔✔Which of the following is considered to be an insurer? - ✔✔Insurance company
✔✔If a person violates a cease and desist order of the Commissioner while it is in
effect, the penalty may be a loss of license and a fine of up to - ✔✔$1,000
✔✔All of the following are true about inactive agents in Mississippi except - ✔✔An
inactive agent may solicit new business
✔✔The general penalty for violating any provision of the Insurance Code for which a
different penalty is not specifically provided is - ✔✔A fine of up to $5,000
✔✔In Mississippi, minors attain a legal right to contract for property and casualty
insurance on the own upon reaching - ✔✔18 years of age
✔✔All of the following are true about temporary licenses issued by the Commissioner
except - ✔✔Applicants for temporary license must take and pass a written exam
✔✔The principle of indemnity states that - ✔✔The insured is restored to the same
condition as before the loss
✔✔A restricted capacity to contract would not necessarily characterize - ✔✔A retired
person
✔✔In Mississippi, a licensed producer who has a change of address may be subject to
a penalty unless the producer notifies the Commissioner within - ✔✔30 days of the
change
✔✔A temporary license issued because of the death of a licensed producer may be
issued for an initial period of - ✔✔180 days
✔✔The Commissioner of Insurance may place on probation, suspend, revoke, or refuse
to issue or renew an insurance producer's license for all of the following reasons except
- ✔✔Paying a commission to another duly-licensed producer
✔✔An insurance company must appoint an agent within how many days of the date the
agency contract is executed or the first insurance application is submitted - ✔✔15 days
QUESTIONS AND SOLUTIONS RATED A+
✔✔All of the following could be covered under a dwelling policy EXCEPT - ✔✔A six-unit
apartment building
✔✔The Johnson family home is covered by DP-3. When a fire destroys the home, they
are forced to live in a hotel for two months. What coverage would reimburse them for
the hotel, dining, laundry, and transportation expenses during the two months? -
✔✔Coverage E
✔✔Which dwelling form pays losses to dwellings and other structures on an actual cash
value basis? - ✔✔DP-1
✔✔The DP-3 provides - ✔✔Open peril coverage for the dwelling and broad coverage
for personal property
✔✔What is the standard deductible under the emergency program of the National Flood
insurance program? - ✔✔$2,000
✔✔The bailee policy pays - ✔✔The customer
✔✔Which of the following is excluded in the equipment breakdown coverage form? -
✔✔Electrical failure
✔✔Signing another person's name with the intent to deceive is known as - ✔✔Forgery
✔✔Which of the following terms best describes the unlawful taking of property? -
✔✔Theft
✔✔The office building risk that may be eligible for a businessowners policy is - ✔✔6
stories or less and 100,000 square feet
✔✔In addition to maximum floor space of 25,000, the businessowners eligibility rules
limit eligible risks to a maximum of - ✔✔$3 million in annual sales
✔✔Which of the following is NOT a benefit that is paid under workers' compensation
laws? - ✔✔Pain and suffering
✔✔The Commissioner of Insurance in Mississippi is appointed to office for a term of -
✔✔None of the above
, ✔✔An incorporated insurer owned by its policyholders is known as a - ✔✔Mutual
insurer
✔✔ - ✔✔Domestic insurer
✔✔Which of the following is considered to be an insurer? - ✔✔Insurance company
✔✔If a person violates a cease and desist order of the Commissioner while it is in
effect, the penalty may be a loss of license and a fine of up to - ✔✔$1,000
✔✔All of the following are true about inactive agents in Mississippi except - ✔✔An
inactive agent may solicit new business
✔✔The general penalty for violating any provision of the Insurance Code for which a
different penalty is not specifically provided is - ✔✔A fine of up to $5,000
✔✔In Mississippi, minors attain a legal right to contract for property and casualty
insurance on the own upon reaching - ✔✔18 years of age
✔✔All of the following are true about temporary licenses issued by the Commissioner
except - ✔✔Applicants for temporary license must take and pass a written exam
✔✔The principle of indemnity states that - ✔✔The insured is restored to the same
condition as before the loss
✔✔A restricted capacity to contract would not necessarily characterize - ✔✔A retired
person
✔✔In Mississippi, a licensed producer who has a change of address may be subject to
a penalty unless the producer notifies the Commissioner within - ✔✔30 days of the
change
✔✔A temporary license issued because of the death of a licensed producer may be
issued for an initial period of - ✔✔180 days
✔✔The Commissioner of Insurance may place on probation, suspend, revoke, or refuse
to issue or renew an insurance producer's license for all of the following reasons except
- ✔✔Paying a commission to another duly-licensed producer
✔✔An insurance company must appoint an agent within how many days of the date the
agency contract is executed or the first insurance application is submitted - ✔✔15 days
