MS PROPERTY & CASUALTY EXAM
QUESTIONS & VERIFIED ANSWERS
ALL PASSED
The penalty for violating a cease and desist order of the Commissioner might be a loss
of license and...? - Correct Answer ✔✔ A fine up to $1,000 for each violation
An insurer formed under the laws of Mississippi is known as...? - Correct Answer ✔✔
Domestic Insurer
An insurance company owned by its POLICYHOLDERS is known as a...? - Correct
Answer ✔✔ Mutual Insurer
Is the Commissioner of Insurance appointed or elected? - Correct Answer ✔✔ The
Commissioner is ELECTED never appointed. Watch for the terminology on the exam.
The person considered to be the INSURER is? - Correct Answer ✔✔ The Insurance
Company
What is true about inactive agents? - Correct Answer ✔✔ - An inactive agent may
receive renewal commissions
- An agent who is retired/disabled is considered inactive
- An agent who has not obtained a continuous Certificate of Authority is inactive
When a state REQUIRES businesses to purchase Worker's Compensation insurance, it
is considered...? - Correct Answer ✔✔ Compulsory
What is the general penalty for violating provisions of the Insurance Code? - Correct
Answer ✔✔ A fine up to $5,000
What is the legal age a person MUST be to obtain a contract to sell property and
casualty insurance? - Correct Answer ✔✔ 18 years of age
Is an exam required to obtain a temporary producer license? - Correct Answer ✔✔ No.
An exam is not required for a temporary license to be issued.
What is true about TEMPORARY PRODUCER licenses? - Correct Answer ✔✔ -
Temporary licenses are issued for a limited term.
- It may be issued to someone upon the death of a licensed agent.
- It may be issued to someone if the licensed agent becomes disabled.
QUESTIONS & VERIFIED ANSWERS
ALL PASSED
The penalty for violating a cease and desist order of the Commissioner might be a loss
of license and...? - Correct Answer ✔✔ A fine up to $1,000 for each violation
An insurer formed under the laws of Mississippi is known as...? - Correct Answer ✔✔
Domestic Insurer
An insurance company owned by its POLICYHOLDERS is known as a...? - Correct
Answer ✔✔ Mutual Insurer
Is the Commissioner of Insurance appointed or elected? - Correct Answer ✔✔ The
Commissioner is ELECTED never appointed. Watch for the terminology on the exam.
The person considered to be the INSURER is? - Correct Answer ✔✔ The Insurance
Company
What is true about inactive agents? - Correct Answer ✔✔ - An inactive agent may
receive renewal commissions
- An agent who is retired/disabled is considered inactive
- An agent who has not obtained a continuous Certificate of Authority is inactive
When a state REQUIRES businesses to purchase Worker's Compensation insurance, it
is considered...? - Correct Answer ✔✔ Compulsory
What is the general penalty for violating provisions of the Insurance Code? - Correct
Answer ✔✔ A fine up to $5,000
What is the legal age a person MUST be to obtain a contract to sell property and
casualty insurance? - Correct Answer ✔✔ 18 years of age
Is an exam required to obtain a temporary producer license? - Correct Answer ✔✔ No.
An exam is not required for a temporary license to be issued.
What is true about TEMPORARY PRODUCER licenses? - Correct Answer ✔✔ -
Temporary licenses are issued for a limited term.
- It may be issued to someone upon the death of a licensed agent.
- It may be issued to someone if the licensed agent becomes disabled.
