MISSISSIPPI INSURANCE TEST 196 2026
INSURANCE LICENSING ASSESSMENT
QUESTIONS SOLUTIONS GRADED A+
◉ 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
◉ 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
INSURANCE LICENSING ASSESSMENT
QUESTIONS SOLUTIONS GRADED A+
◉ 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
◉ 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
