MISSISSIPPI INSURANCE CORE EXAM SET 2026/2027
QUESTIONS AND SOLUTIONS RATED A+
✔✔Terrorism Risk Insurance Act of 2002 - ✔✔Federal Law designed to ensure that
insurance coverage for terrorism losses under commercial lines policies will be available
and affordable
✔✔4 Years - ✔✔The commissioner is elected to a term of _____ years.
✔✔10 Days - ✔✔The commissioner must give notice ___ days before a hearing for
unfair trade practices or unfair method of competition.
✔✔30 days - ✔✔Rates and forms must be filed at least ____ days before proposed
effective date.
✔✔$5,000 - ✔✔If not otherwise provided in the ins code, the maximum per violation
penalty for violating the MS insurance code.
✔✔Full Amount - ✔✔MS Insurance Guaranty Association
Max liability per covered claim for Worker's Comp Claims
✔✔$50 - ✔✔The MS Ins Guaranty Association:
amount in excess of $___ per policy for the return of unearned premium
✔✔$300,000 - ✔✔The MS Ins Guaranty Association:
Maximum $_____ per claimant for all other covered claims
✔✔Age 18 - ✔✔minimum age to obtain a producer's license
✔✔180 days - ✔✔The Commissioner may issue a temporary producer license for a max
of ___ days to a surviving spouse, business partner, or employee if a producer dies,
becomes disabled, or is called to active military service.
✔✔20 Hours - ✔✔___ hours for life insurance licensing applicants
✔✔20 Hours - ✔✔___ hours for health insurance licensing applicants
✔✔15 days - ✔✔An insurer must file a notice of appointment within ___ days of agency
contract date or first insurance application.
✔✔30 days - ✔✔An insurer that terminates an appointment must notify the
Commissioner within ___ days of terminating the producer.
, ✔✔$1,000 - ✔✔Civil Penalty may be up to $___ per violation of producer licensing
statutes
✔✔2 year - ✔✔Producer licenses are effective for a __ year term
✔✔24 hours - ✔✔Continuing education credits required every two years
✔✔3 hours - ✔✔CE Includes __ hours on ethics
✔✔30 Days - ✔✔Time frame to report change of address, admin actions, or criminal
charges to the Commissioner
✔✔35% - ✔✔A licensee may be deemed to violate controlled business statutes if
commissions from controlled business exceed ___% of the aggregate commissions on
all business written in a 24 month period.
✔✔$5,000 - ✔✔Up to $___ fine per violation (unfair competition, act, or practice)
✔✔$1,000 - ✔✔Up to $___ fine for each willful violation of a cease and desist order
✔✔30 days - ✔✔Notice of cancellation or nonrenewal for property policies must be
given ___ days in advance (except for nonpayment of prem)
✔✔10 days - ✔✔Notice of cancellation/ nonrenewal for property policies must be given
__ days in advance for nonpayment of premium
✔✔25/50/25 - ✔✔Minimum auto liability insurance limits for MS
✔✔25 days - ✔✔___ days for clean electronic claim- prompt pay
✔✔35 days - ✔✔___ days for clean paper claim- prompt pay
✔✔30 days - ✔✔Auto Ins- ___ days in advance notice for cancellation or nonrenewal
✔✔10 days - ✔✔Auto Ins- ___ days in advance for cancellation due to nonpayment of
premium, or if cancellation is within first 60 days.
✔✔60 days - ✔✔To be eligible for Mississippi Automobile Insurance Assigned Risk
Plan, an applicant has not been able to obtain auto insurance within the previous ___
days.
✔✔5 employees - ✔✔Worker's Compensation Insurance or self-ins is compulsory for
nonexempt private employers who employ ____ employees or more, and all public
employers.
QUESTIONS AND SOLUTIONS RATED A+
✔✔Terrorism Risk Insurance Act of 2002 - ✔✔Federal Law designed to ensure that
insurance coverage for terrorism losses under commercial lines policies will be available
and affordable
✔✔4 Years - ✔✔The commissioner is elected to a term of _____ years.
✔✔10 Days - ✔✔The commissioner must give notice ___ days before a hearing for
unfair trade practices or unfair method of competition.
✔✔30 days - ✔✔Rates and forms must be filed at least ____ days before proposed
effective date.
✔✔$5,000 - ✔✔If not otherwise provided in the ins code, the maximum per violation
penalty for violating the MS insurance code.
✔✔Full Amount - ✔✔MS Insurance Guaranty Association
Max liability per covered claim for Worker's Comp Claims
✔✔$50 - ✔✔The MS Ins Guaranty Association:
amount in excess of $___ per policy for the return of unearned premium
✔✔$300,000 - ✔✔The MS Ins Guaranty Association:
Maximum $_____ per claimant for all other covered claims
✔✔Age 18 - ✔✔minimum age to obtain a producer's license
✔✔180 days - ✔✔The Commissioner may issue a temporary producer license for a max
of ___ days to a surviving spouse, business partner, or employee if a producer dies,
becomes disabled, or is called to active military service.
✔✔20 Hours - ✔✔___ hours for life insurance licensing applicants
✔✔20 Hours - ✔✔___ hours for health insurance licensing applicants
✔✔15 days - ✔✔An insurer must file a notice of appointment within ___ days of agency
contract date or first insurance application.
✔✔30 days - ✔✔An insurer that terminates an appointment must notify the
Commissioner within ___ days of terminating the producer.
, ✔✔$1,000 - ✔✔Civil Penalty may be up to $___ per violation of producer licensing
statutes
✔✔2 year - ✔✔Producer licenses are effective for a __ year term
✔✔24 hours - ✔✔Continuing education credits required every two years
✔✔3 hours - ✔✔CE Includes __ hours on ethics
✔✔30 Days - ✔✔Time frame to report change of address, admin actions, or criminal
charges to the Commissioner
✔✔35% - ✔✔A licensee may be deemed to violate controlled business statutes if
commissions from controlled business exceed ___% of the aggregate commissions on
all business written in a 24 month period.
✔✔$5,000 - ✔✔Up to $___ fine per violation (unfair competition, act, or practice)
✔✔$1,000 - ✔✔Up to $___ fine for each willful violation of a cease and desist order
✔✔30 days - ✔✔Notice of cancellation or nonrenewal for property policies must be
given ___ days in advance (except for nonpayment of prem)
✔✔10 days - ✔✔Notice of cancellation/ nonrenewal for property policies must be given
__ days in advance for nonpayment of premium
✔✔25/50/25 - ✔✔Minimum auto liability insurance limits for MS
✔✔25 days - ✔✔___ days for clean electronic claim- prompt pay
✔✔35 days - ✔✔___ days for clean paper claim- prompt pay
✔✔30 days - ✔✔Auto Ins- ___ days in advance notice for cancellation or nonrenewal
✔✔10 days - ✔✔Auto Ins- ___ days in advance for cancellation due to nonpayment of
premium, or if cancellation is within first 60 days.
✔✔60 days - ✔✔To be eligible for Mississippi Automobile Insurance Assigned Risk
Plan, an applicant has not been able to obtain auto insurance within the previous ___
days.
✔✔5 employees - ✔✔Worker's Compensation Insurance or self-ins is compulsory for
nonexempt private employers who employ ____ employees or more, and all public
employers.
