Mississippi Insurance Test Questions and Answers 100% Pass

Mississippi Insurance Test Questions and Answers 100% Pass The Commissioner of Insurance in Mississippi is elected to office for a term of 4 years The burden of proof for determining that a producer is representing an authorized insurer falls on The producer The fine the Commissioner may levy for violating any provision of the Insurance Code is $1000 A foreign insurer 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 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 10 days Property and casualty insurance rates are regulated to prohibit rates from being all of the following EXCEPT Competitive An insurance company's license to business is called A certificate of authority The purpose of a Guaranty Association is to Cover claims of insolvent insurers The Guaranty Association pays a workers' compensation claim up to The full amount of covered claim An insurance adjuster adjusts claims on behalf of The insurer Which of the following is allowed to place insurance in eligible nonadmitted insurers? Surplus lines producers If a person has engaged in an unfair or deceptive practice, the commissioner may impose an administrative fine up to $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? 30 days The biennial continuing education requirement for producers is how many hours? 24 hours Of the total continuing education requirement, how many hours must be in ethics? 3 hours A licensee may be deemed to have violated controlled business statues if commissions on controlled business exceed what percentage of aggregate commissions? 35% Which of the following referral fees may be paid to an unlicensed employee of a producer A fixed dollar amount What type of relationship does a producer have with insurers and insureds in handling their premium dollars? Fiduciary