Mississippi Insurance Test 2025/2026
Exam Questions with 100% Correct
Answers | Latest Update
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
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, 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
Exam Questions with 100% Correct
Answers | Latest Update
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
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, 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
