State Farm Test Studies Questions and Answers (2023/2024)
(Verified Answers)
1. The general penalty for violating any provision of the
insurance Code for which a different penalty is not specifically
provided is? (ANS)A Fine up to $5,000
2. The Chief Officer of the Insurance Department is the
Commissioner of Insurance. How long and Who is he
ELECTED by to office for a term? (ANS)He is Elected by the
People for a 4 year term
3. An incorporated insurer owned by its policyholders is known
as a? (ANS)A mutual insurer
4. An insurer formed under the laws of Mississippi is known as a?
(ANS)A domestic insurer
5. Insurance Companies are considered to be? (ANS)An Insurer
6. 7. If a person violates a cease and desist order of the
Commissioner while it is in effect, the penalty may be loss of
license and a fine of up to? (ANS)
$500 for each Vilationn
7. As an inactive agent you can continue to receive ?
(ANS)Renewal Commissions
8. As an Inactive Agent you may NOT ? (ANS)Solicit or Service
any new or existing buisness
9. The general penalty for violating any provision of the
insurance Code for which a different penalty is not specifically
provided is? (ANS)a fine of up to $5,000
10. In Mississippi, minors attain a legal right to contract for
property and casualty Insurance on their own upon reaching
what age? (ANS)C. 18 years of age
(Verified Answers)
1. The general penalty for violating any provision of the
insurance Code for which a different penalty is not specifically
provided is? (ANS)A Fine up to $5,000
2. The Chief Officer of the Insurance Department is the
Commissioner of Insurance. How long and Who is he
ELECTED by to office for a term? (ANS)He is Elected by the
People for a 4 year term
3. An incorporated insurer owned by its policyholders is known
as a? (ANS)A mutual insurer
4. An insurer formed under the laws of Mississippi is known as a?
(ANS)A domestic insurer
5. Insurance Companies are considered to be? (ANS)An Insurer
6. 7. If a person violates a cease and desist order of the
Commissioner while it is in effect, the penalty may be loss of
license and a fine of up to? (ANS)
$500 for each Vilationn
7. As an inactive agent you can continue to receive ?
(ANS)Renewal Commissions
8. As an Inactive Agent you may NOT ? (ANS)Solicit or Service
any new or existing buisness
9. The general penalty for violating any provision of the
insurance Code for which a different penalty is not specifically
provided is? (ANS)a fine of up to $5,000
10. In Mississippi, minors attain a legal right to contract for
property and casualty Insurance on their own upon reaching
what age? (ANS)C. 18 years of age
