MISSISSIPPI INSURANCE TEST 196 2026
PROPERTY AND CASUALTY INSURANCE
REVIEW QUESTIONS ANSWERS VERIFIED
GUIDE
◉ How much must the commissioner furnish to guarantee faithful
performance of his duties?.
Answer: $25,000
◉ Does the insurance commissioner enforce laws.
Answer: yes
◉ does the insurance commissioner make laws.
Answer: no
◉ Who are insurance laws made by.
Answer: Mississippi legislature
◉ What expires last day of month of agent's birthday in second year
following issuance and must be renewal within a 13 month time
frame.
Answer: Agent's license
,◉ How long is the Agent's License good for.
Answer: 2 years
◉ is a 15 year old contracted to buy insurance.
Answer: yes
◉ at what age are you considered to buy a contracted insurance.
Answer: 15 years
◉ How many hours of pre-licensing education must you receive in
order to get your life, accident and health license.
Answer: 40
◉ How many hours of pre-licensing education must you receive in
order to get your Life or Accident and Health license.
Answer: 20
◉ How many hours of continuing education must you receive if
license has been in effect more than 18 months.
Answer: 24
,◉ How many hours of continuing education must you receive if
license has been in effect for 18 months or less.
Answer: 12
◉ Within how many days must the agent notify insurance
department of change of address.
Answer: 30
◉ What is the amount an agent may be fined up to for violating INS
laws or other causes.
Answer: $1,000
◉ What is the percent that an agent can earn in a 24 month period
on " controlled Business.
Answer: 35%
◉ Insurance policy loan rate cannot exceed what percent.
Answer: 8%
◉ What is the free look period time frame on Long term Care and
Medicare policies.
Answer: 30 days
, ◉ how many days must a insured provide written notice of accident
and health claim to the insurance company.
Answer: 20 days
◉ how many days before and insurance company has to send claims
forms to insured after it receives notice of loss.
Answer: 15 days
◉ What is considered and inactive agent?.
Answer: One who is retired, disabled or does not have a certificate.
◉ What can an inactive agent do and not do?.
Answer: Cannot sell new business or service existing accounts and
they may receive renewal commissions
◉ Transfers of risk of dying prematurely.
Answer: Life insurance
◉ What are the two types of risk.
Answer: Pure and speculative risk
◉ What type of risk involves chances of loss only.
PROPERTY AND CASUALTY INSURANCE
REVIEW QUESTIONS ANSWERS VERIFIED
GUIDE
◉ How much must the commissioner furnish to guarantee faithful
performance of his duties?.
Answer: $25,000
◉ Does the insurance commissioner enforce laws.
Answer: yes
◉ does the insurance commissioner make laws.
Answer: no
◉ Who are insurance laws made by.
Answer: Mississippi legislature
◉ What expires last day of month of agent's birthday in second year
following issuance and must be renewal within a 13 month time
frame.
Answer: Agent's license
,◉ How long is the Agent's License good for.
Answer: 2 years
◉ is a 15 year old contracted to buy insurance.
Answer: yes
◉ at what age are you considered to buy a contracted insurance.
Answer: 15 years
◉ How many hours of pre-licensing education must you receive in
order to get your life, accident and health license.
Answer: 40
◉ How many hours of pre-licensing education must you receive in
order to get your Life or Accident and Health license.
Answer: 20
◉ How many hours of continuing education must you receive if
license has been in effect more than 18 months.
Answer: 24
,◉ How many hours of continuing education must you receive if
license has been in effect for 18 months or less.
Answer: 12
◉ Within how many days must the agent notify insurance
department of change of address.
Answer: 30
◉ What is the amount an agent may be fined up to for violating INS
laws or other causes.
Answer: $1,000
◉ What is the percent that an agent can earn in a 24 month period
on " controlled Business.
Answer: 35%
◉ Insurance policy loan rate cannot exceed what percent.
Answer: 8%
◉ What is the free look period time frame on Long term Care and
Medicare policies.
Answer: 30 days
, ◉ how many days must a insured provide written notice of accident
and health claim to the insurance company.
Answer: 20 days
◉ how many days before and insurance company has to send claims
forms to insured after it receives notice of loss.
Answer: 15 days
◉ What is considered and inactive agent?.
Answer: One who is retired, disabled or does not have a certificate.
◉ What can an inactive agent do and not do?.
Answer: Cannot sell new business or service existing accounts and
they may receive renewal commissions
◉ Transfers of risk of dying prematurely.
Answer: Life insurance
◉ What are the two types of risk.
Answer: Pure and speculative risk
◉ What type of risk involves chances of loss only.
