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MISSISSIPPI INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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MISSISSIPPI INSURANCE EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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MISSISSIPPI INSURANCE EXAM2024/2025 WITH 100% ACCURATE
SOLUTIONS
Solves the problem of who died first in a common accident by directing
that the primary beneficiary is assumed to have died first - Precise
Answer ✔✔Uniform Stimultaneous Death Act
Signed and completed by the producer/agent. No attached policy at issue
- Precise Answer ✔✔Producer's Report
What is FCRA? - Precise Answer ✔✔Fair Credit Reporting Act of 1970
What benefits are paid for the initial days disability if the disability
continues beyond how many days? - Precise Answer ✔✔14 Days
The tendenecy for higher risk individuals to get and keep insurance more
than individuals who represent an average - Precise Answer ✔✔Adverse
Selection
When insurance policies require certain conditions to be fulfilled in
order for performance under the contract to be enforced, is called? -
Precise Answer ✔✔Conditional Report
,When does total disability begin? - Precise Answer ✔✔After a 5 Day
Waiting Period
A surviving spouse recieves a lump sum benefit of how much? - Precise
Answer ✔✔$1,000
When insurance policies value receieve from the contract by each party
may be equal, it's called? - Precise Answer ✔✔Aleatory
A non-profit insurance trade association that maintains underwriting
information on applicants - Precise Answer ✔✔Medical Information
Bureau (MIB)
To change from term to permanent, must go underwriting - Precise
Answer ✔✔Convertible
An incorporated insurer which does not have capital stock? - Precise
Answer ✔✔Mutual Insurance Company
What's FINRA? - Precise Answer ✔✔Financial Industry Regulatory
Authority
What is paid for the duration of the disability? - Precise Answer
✔✔Total Disability
, What number of days from the date the agency contract is executed or
the first insurance application is submitted that the appointing insurer
must file, in an approved format, a notice of appointment? - Precise
Answer ✔✔15 Days
A producer has how many days to report to the Commission any
administrative action taken against the producer in another jurisdiction?
- Precise Answer ✔✔30 Days
An insurer has how many days to notify the Commissioner that they've
terminated the appointment, employment, contract, or other insurance
business relationship with a producer? - Precise Answer ✔✔30 Days
A non-participating company is owned by? - Precise Answer
✔✔Stockholders
An unincorporated aggregation of persons operating individually and
collectively through an attorney-in-fact to provide reciprocal insurance
among themselves - Precise Answer ✔✔Reciprocal Insurer
This type of contract is intended to restore the insured to the financial
state he or she enjoyed prior to the occurence of a loss no more and no
less
Ex. When an insurance co. gives you the value of a totalled car - Precise
Answer ✔✔Indemnity
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