State Laws Chapter 8 Test
Five - Answer-One of the duties of the existing insurer being replaced is within ____ business days of
receiving the notice of replacement, send a letter to the policy or contract of the right to receive
information regarding the existing policy or contract values.
Rebating - Answer-Knowingly paying, allowing, or giving, or offering to pay, as an inducement to buy
insurance, or other special consideration not specifies in the policy is known as:
PIA - Answer-The Social Security Survivor Benefit is computed using which of the following:
Alien - Answer-A surplus lines insurer who is based in a country outside of the US is referred to as a ___
insurer
One - Answer-A licensee whose license has been revoked cannot be relicensed for at least ___ years
from the revocation's effective date
24 - Answer-Every individual seeking to renew an insurance producer license that has been in effect for
more than 18 months, then ____ hours of continuing education coursed are required, three of which
must be in ethics.
, 1035 exchange transactions between two different insurers - Answer-The replacement regulations
apply to which of the following:
Has the power to put in jail those who fail to comply with an subpoena issued - Answer-The
Commissioner of Insurance can do all of the following except:
Ten - Answer-A hearing is held within ___ days after the notice is served.
One - Answer-If a producer's license is allowed to lapse for a period of more than____ years, the
licensee will be required to take the applicable examination again and meet prelicensing requirements.
Making any changes in the insurance laws he/she may see is in the public's best interest - Answer-The
Commissioner of insurance has the responsibility and authority for all of the following, except:
Amount of surcharges to be applied to policy - Answer-The limit of liability is the most paid by the
insurer regardless of all of the following, except
To determine whether such person has been or is engaged in any unfair method of competition, or in
any unfair deceptive trade practice - Answer-Why does the commissioner of insurance have the power
to examine and investigate the affairs of every person engaged in insurance transactions in Mississippi?
Fiduciary - Answer-Licensed persons who receive money from an insured intended for the insurer (i.e.
premium) or money from the insurer intended for the insured (i.e. premium refunded) are considered to
be a
Knowingly accepting insurance business from an individual who is licensed - Answer-The Commissioner
may place on probation, suspend, revoke, or refuse to issue or renew an insurance producer's license, or
levy a civil penalty for any one or more of the following clauses, except:
Five - Answer-One of the duties of the existing insurer being replaced is within ____ business days of
receiving the notice of replacement, send a letter to the policy or contract of the right to receive
information regarding the existing policy or contract values.
Rebating - Answer-Knowingly paying, allowing, or giving, or offering to pay, as an inducement to buy
insurance, or other special consideration not specifies in the policy is known as:
PIA - Answer-The Social Security Survivor Benefit is computed using which of the following:
Alien - Answer-A surplus lines insurer who is based in a country outside of the US is referred to as a ___
insurer
One - Answer-A licensee whose license has been revoked cannot be relicensed for at least ___ years
from the revocation's effective date
24 - Answer-Every individual seeking to renew an insurance producer license that has been in effect for
more than 18 months, then ____ hours of continuing education coursed are required, three of which
must be in ethics.
, 1035 exchange transactions between two different insurers - Answer-The replacement regulations
apply to which of the following:
Has the power to put in jail those who fail to comply with an subpoena issued - Answer-The
Commissioner of Insurance can do all of the following except:
Ten - Answer-A hearing is held within ___ days after the notice is served.
One - Answer-If a producer's license is allowed to lapse for a period of more than____ years, the
licensee will be required to take the applicable examination again and meet prelicensing requirements.
Making any changes in the insurance laws he/she may see is in the public's best interest - Answer-The
Commissioner of insurance has the responsibility and authority for all of the following, except:
Amount of surcharges to be applied to policy - Answer-The limit of liability is the most paid by the
insurer regardless of all of the following, except
To determine whether such person has been or is engaged in any unfair method of competition, or in
any unfair deceptive trade practice - Answer-Why does the commissioner of insurance have the power
to examine and investigate the affairs of every person engaged in insurance transactions in Mississippi?
Fiduciary - Answer-Licensed persons who receive money from an insured intended for the insurer (i.e.
premium) or money from the insurer intended for the insured (i.e. premium refunded) are considered to
be a
Knowingly accepting insurance business from an individual who is licensed - Answer-The Commissioner
may place on probation, suspend, revoke, or refuse to issue or renew an insurance producer's license, or
levy a civil penalty for any one or more of the following clauses, except:
