MISSISSIPPI INSURANCE EXAM PREP
QUESTIONS AND ANSWERS 2026 STUDY
GUIDE
◉ If an insurance company wishes to order a consumer report on an
applicant to assist the underwriting process, and if a notice of insurance
information practices has been provided, the report man contain all of
the following information EXCPT the applicant's. Answer: Ancestry
◉ A producer is acting in what capacity when he or she is trying to
obtain credible information about an applicant for health insurance?
Answer: Field underwriting
◉ Which of the following entities can legally bind coverage? Answer:
Insurer
◉ An agent is ready to deliver a policy to an applicant but has not yet
received payment. Upon delivery, the agent collects the applicant's
premium check, answers any questions the applicant may have, and then
leaves. What did he forget to do? Answer: Ask her to sign a statement of
good health
,◉ Which of the below statements is FALSE regarding the process of
completing and signing an application? Answer: Only the insured is
required to sign the application.
◉ What phase begins after a new policy is delivered? Answer: Free-look
period
◉ Because an insurance policy is a legal contract, it must conform to the
state laws governing contracts which require all of the following
elements EXCEPT. Answer: Conditions
◉ What is a material misrepresentation? Answer: A statement by the
applicant that, upon discovery, would affect the underwriting decision of
the insurance company
◉ Insurance policies, the insured is not legally bound to any particular
action in the insurance contract, but the insurer is legally obligated to
pay losses covered by the policy. What contracted element does the
describe? Answer: Unilateral
◉ The Federal Fair Credit Reporting Act. Answer: Regulates consumer
reports
, ◉ An insurer neglects to pay a legitimate claim that is covered under the
terms of the policy. Which of the following insurance principles has the
insurer violated? Answer: Consideration
◉ Which of the following terms most precisely fits the definition of "the
incidence or probability of sicknesses or accidents within given group of
people?". Answer: Morbidity
◉ An insurance contract that both the insured and the insurer meet
certain conditions in order for the contract to be enforceable. What
contract characteristic does this describe? Answer: Conditional
◉ Where would Long-term care services be rendered? Answer: A
nursing home or one's own home
◉ An insurer is attempting to determine the insurability of an applicant
and decides to obtain medical information from several different
sources. Which entity must be notified of the investigation? Answer: The
applicant
◉ Before an agent delivers a policy, the insurer makes a last-minute
change to the policy. The agent informs the insured of this change, and
he accepts it. In response, the agent must. Answer: Have the insured sign
a statement acknowledging that he is aware of the change.
QUESTIONS AND ANSWERS 2026 STUDY
GUIDE
◉ If an insurance company wishes to order a consumer report on an
applicant to assist the underwriting process, and if a notice of insurance
information practices has been provided, the report man contain all of
the following information EXCPT the applicant's. Answer: Ancestry
◉ A producer is acting in what capacity when he or she is trying to
obtain credible information about an applicant for health insurance?
Answer: Field underwriting
◉ Which of the following entities can legally bind coverage? Answer:
Insurer
◉ An agent is ready to deliver a policy to an applicant but has not yet
received payment. Upon delivery, the agent collects the applicant's
premium check, answers any questions the applicant may have, and then
leaves. What did he forget to do? Answer: Ask her to sign a statement of
good health
,◉ Which of the below statements is FALSE regarding the process of
completing and signing an application? Answer: Only the insured is
required to sign the application.
◉ What phase begins after a new policy is delivered? Answer: Free-look
period
◉ Because an insurance policy is a legal contract, it must conform to the
state laws governing contracts which require all of the following
elements EXCEPT. Answer: Conditions
◉ What is a material misrepresentation? Answer: A statement by the
applicant that, upon discovery, would affect the underwriting decision of
the insurance company
◉ Insurance policies, the insured is not legally bound to any particular
action in the insurance contract, but the insurer is legally obligated to
pay losses covered by the policy. What contracted element does the
describe? Answer: Unilateral
◉ The Federal Fair Credit Reporting Act. Answer: Regulates consumer
reports
, ◉ An insurer neglects to pay a legitimate claim that is covered under the
terms of the policy. Which of the following insurance principles has the
insurer violated? Answer: Consideration
◉ Which of the following terms most precisely fits the definition of "the
incidence or probability of sicknesses or accidents within given group of
people?". Answer: Morbidity
◉ An insurance contract that both the insured and the insurer meet
certain conditions in order for the contract to be enforceable. What
contract characteristic does this describe? Answer: Conditional
◉ Where would Long-term care services be rendered? Answer: A
nursing home or one's own home
◉ An insurer is attempting to determine the insurability of an applicant
and decides to obtain medical information from several different
sources. Which entity must be notified of the investigation? Answer: The
applicant
◉ Before an agent delivers a policy, the insurer makes a last-minute
change to the policy. The agent informs the insured of this change, and
he accepts it. In response, the agent must. Answer: Have the insured sign
a statement acknowledging that he is aware of the change.
