HOSMERIT
MISSISSIPPI INSURANCE TEST QUESTIONS &
ANSWERS 100% ACCURATE
The Commissioner of Insurance in Mississippi is elected to office for a term of - answer 4 years
The burden of proof for determining that a producer is representing an authorized insurer falls
on - answer The producer
The fine the Commissioner may levy for violating any provision of the Insurance Code is -
answer $1000
A foreign insurer - answer An insurer formed under the laws of any state other than Mississippi
would be known as
Each of the following is true about the Mississippi Residential Property Insurance Underwriting
Association EXCEPT - answer Insurance company membership in the association is voluntary
At least how many days' advance notice must the Commissioner giver a person of an unfair
trade practice hearing - answer 10 days
Property and casualty insurance rates are regulated to prohibit rates from being all of the
following EXCEPT - answer Competitive
An insurance company's license to business is called - answer A certificate of authority
The purpose of a Guaranty Association is to - answer Cover claims of insolvent insurers
The Guaranty Association pays a workers' compensation claim up to - answer The full amount
of covered claim
,An insurance adjuster adjusts claims on behalf of - answer The insurer
Which of the following is allowed to place insurance in eligible nonadmitted insurers? - answer
Surplus lines producers
If a person has engaged in an unfair or deceptive practice, the commissioner may impose an
administrative fine up to - answer $5,000 per violation
Producers must notify the Commissioner of an administrative action taken against the producer
within how many days after final disposition of the matter? - answer 30 days
The biennial continuing education requirement for producers is how many hours? - answer 24
hours
Of the total continuing education requirement, how many hours must be in ethics? - answer 3
hours
A licensee may be deemed to have violated controlled business statues if commissions on
controlled business exceed what percentage of aggregate commissions? - answer 35%
Which of the following referral fees may be paid to an unlicensed employee of a producer -
answer A fixed dollar amount
What type of relationship does a producer have with insurers and insureds in handling their
premium dollars? - answer Fiduciary
Charging insureds in the same class with the same hazards different premiums is an example of
- answer Discrimination
The Guaranty Association pays covered claims up to what amount for covered claims for other
than return of premium and workers' compensation? - answer $300,000
If a policy is being canceled for nonpayment of premium, the insurer must give a fire insurance
insured written notice at least - answer 10 days in advance
, The minimum requirement for proof of financial responsibility for automobile insurance in
Mississippi is - answer $25,000/$50,000 BI and $25,000 PD
After an automobile insurance policy has been in effect for at least 60 days, if it is canceled by
the insurer for any reason other than nonpayment of premium, the insurer must give the insured
written notice at least - answer 30 days in advance
Workers' compensation insurance is available in Mississippi through - answer Private insurers
The maximum amount provided as a burial allowance under workers' compensation insurance
in Mississippi is - answer $5,000
In Mississippi, workers' compensation insurance is compulsory for private sector employers who
employ - answer 5 or more workers
To be eligible for coverage under the Mississippi Automobile Assigned Risk Plan, an applicant
must certify that she has sought unsuccessfully to obtain coverage within the preceding -
answer 60 days
To nonrenew an automobile insurance policy, an insurer must give the insured written notice at
least - answer 30 days in advance
If an insurer cancels an automobile policy for a reason other than nonpayment of premium, the
insurer must notify the named insured of possible eligibility for - answer The assigned risk plan
Workers' compensation total disability benefits are retroactive to the start of disability if the
disability continues for - answer 2 weeks
Workers' compensation benefits are subject to - answer No dollar amount
What is the primary source of underwriting information - answer The application
Which of the following in NOT automatically covered under the basic form - answer Water
MISSISSIPPI INSURANCE TEST QUESTIONS &
ANSWERS 100% ACCURATE
The Commissioner of Insurance in Mississippi is elected to office for a term of - answer 4 years
The burden of proof for determining that a producer is representing an authorized insurer falls
on - answer The producer
The fine the Commissioner may levy for violating any provision of the Insurance Code is -
answer $1000
A foreign insurer - answer An insurer formed under the laws of any state other than Mississippi
would be known as
Each of the following is true about the Mississippi Residential Property Insurance Underwriting
Association EXCEPT - answer Insurance company membership in the association is voluntary
At least how many days' advance notice must the Commissioner giver a person of an unfair
trade practice hearing - answer 10 days
Property and casualty insurance rates are regulated to prohibit rates from being all of the
following EXCEPT - answer Competitive
An insurance company's license to business is called - answer A certificate of authority
The purpose of a Guaranty Association is to - answer Cover claims of insolvent insurers
The Guaranty Association pays a workers' compensation claim up to - answer The full amount
of covered claim
,An insurance adjuster adjusts claims on behalf of - answer The insurer
Which of the following is allowed to place insurance in eligible nonadmitted insurers? - answer
Surplus lines producers
If a person has engaged in an unfair or deceptive practice, the commissioner may impose an
administrative fine up to - answer $5,000 per violation
Producers must notify the Commissioner of an administrative action taken against the producer
within how many days after final disposition of the matter? - answer 30 days
The biennial continuing education requirement for producers is how many hours? - answer 24
hours
Of the total continuing education requirement, how many hours must be in ethics? - answer 3
hours
A licensee may be deemed to have violated controlled business statues if commissions on
controlled business exceed what percentage of aggregate commissions? - answer 35%
Which of the following referral fees may be paid to an unlicensed employee of a producer -
answer A fixed dollar amount
What type of relationship does a producer have with insurers and insureds in handling their
premium dollars? - answer Fiduciary
Charging insureds in the same class with the same hazards different premiums is an example of
- answer Discrimination
The Guaranty Association pays covered claims up to what amount for covered claims for other
than return of premium and workers' compensation? - answer $300,000
If a policy is being canceled for nonpayment of premium, the insurer must give a fire insurance
insured written notice at least - answer 10 days in advance
, The minimum requirement for proof of financial responsibility for automobile insurance in
Mississippi is - answer $25,000/$50,000 BI and $25,000 PD
After an automobile insurance policy has been in effect for at least 60 days, if it is canceled by
the insurer for any reason other than nonpayment of premium, the insurer must give the insured
written notice at least - answer 30 days in advance
Workers' compensation insurance is available in Mississippi through - answer Private insurers
The maximum amount provided as a burial allowance under workers' compensation insurance
in Mississippi is - answer $5,000
In Mississippi, workers' compensation insurance is compulsory for private sector employers who
employ - answer 5 or more workers
To be eligible for coverage under the Mississippi Automobile Assigned Risk Plan, an applicant
must certify that she has sought unsuccessfully to obtain coverage within the preceding -
answer 60 days
To nonrenew an automobile insurance policy, an insurer must give the insured written notice at
least - answer 30 days in advance
If an insurer cancels an automobile policy for a reason other than nonpayment of premium, the
insurer must notify the named insured of possible eligibility for - answer The assigned risk plan
Workers' compensation total disability benefits are retroactive to the start of disability if the
disability continues for - answer 2 weeks
Workers' compensation benefits are subject to - answer No dollar amount
What is the primary source of underwriting information - answer The application
Which of the following in NOT automatically covered under the basic form - answer Water
