Mississippi INS Questions and Answers Rated A+

Mississippi INS Questions and Answers Rated A+ Every producer licensed in Mississippi must notify the Commissioner within how many days of any change of address 30 days Any inducement offered to the insured in the sale of insurance products that is not specified in the policy is called Rebating All health plans that provide coverage to family members of the insured must provide coverage for the insured's newborn child starting at the moment of birth How many hours of approved education courses must applicants for life and accident and health agent licenses complete before they may take the agent's licensing examination? 40 Which of the following is NOT grounds for the Commissioner to suspend or revoke a certificate of authority? The company violated any applicable provisions of the Mississippi insurance law The company's financial condition is unsound The company's assets in excess of its liabilities are less than its original capital The Commissioner does not care for the insurer's advertisements Circulation of a maliciously critical statement about any insurer's financial condition in order to injure the insurer is called defamation Which of the following must sign the Notice Regarding Replacement? the applicant and the producer Which of the following statements regarding life insurance policy loans is NOT true? maximum fixed intrest is 10 % "Prompt pay" of a clean electronic claim for a health insurance policy must be paid within 25 days Clean electronic claims must be paid within 25 days and a clean paper claim must be paid within 35 days. Violators of any provision of the Mississippi Insurance Code may be fined up to 5,000 An insurance company must appoint a producer as its agent by filing a notice of appointment with the Commissioner within ___ days from the submission of first application. 15 days Which of the following is NOT an Unfair Trade Practice? Pay commission to another producer who is licensed in the same line of insurance Which of the following is NOT a characteristic of a Fraternal Benefit Society? Society with capital stock In Mississippi, within how many days of sustaining an accident/ health loss must an insured send written notice of claim to the insurer? 30 days What is the maximum time during which a health insurance policy suit can be filed after written proof of loss is furnished? 3 years Which statement regarding policy replacement is true? Policy replacement can only be performed by following the state's replacement regulations Which of the following is NOT a prohibited practice in regards to ethical insurance advertising? Advertising a policy's limited nature for specified accidents All of the following are considered to be examples of unfair and deceptive trade practices EXCEPT Using a sales presentation approved by the