XCEL STUDY MATERIAL- MISSISSIPPI LAWS AND RULES
WHICH OF THE FOLLOWING ACTIONS MUST BE TAKEN BY AN INSURANCE COMPANY THAT WISHE TO CONDUCT BUSINESS IN MISSISSIPPI
ACQUIRE A CERTIFICATE OF AUTHORITY
WHAT IS A RESPONSIBLITY OF THE COMMISSIONER OF INSURANCE
ADMINISTER INSURANCE LAWS
IN MISSISSIPPI, AN INSURANCE COMPANY FORMED UNDER THE LAWS OF MEXICO IS CALLED A(N)
ALIEN COMPANY
Who would be given an exemption from licensing requirements in Mississippi?
AN EMPLOYEE OF A LICENSED PRODUCER WHO ONLY ANSWERS THE PHONE AND SCHEDULES APPOINTMENTS
AN EXAMPLE OF LIFE INSURANCE POLICY REPLACEMENT WOULD BE WHICH OF THE FOLLOWING
CASH SURRENDER AN EXISTING LIFE POLICY AND PURCHASING A NEW LIFE POLICY
WHICH OF THE FOLLOWING BEST DEFINES UNFAIR DISCRIMINATION
CHARGING DIFFERENT RATES FOR INDIVIDUALS IN THE SAME RISK CLASS
WHAT IS THE REQUIREMENT FOR MAINTAINING AN INDIVIDUAL MISSISSIPPI PRODUCER LICENSE
COMPLETING 24 HOURS OF CONTINUING EDUCATION EVERY 2 YEARS
B IS A PRODUCER WHO PRIMARILY WRITES INSURANCE BUSINESS ON HIS FAMILY. WHIC OF THE FOLLOWING IS B ENGAGED IN
CONTROLLED BUSINESS
THE RULE OF GOVERNING LIFE INSURANCE AND ANNUITY REPLACEMENTS DO NOT APPLY TO
CREDIT LIFE
ACME INSURANCE COMPANY CONDUCTS BUSINESS IN MISSISSIPPI AND WAS INCORPORATED IN MISSISSIPPI. THIS COMPANY IS CONSIDERED TO BE A(N)
DOMESTIC INSURER
WHAT IS THE PURPOSE OF THE MISSISSIPPI LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION
ENSURES THAT CLAIMS FILED AGAINST INSOLVENT INSURANCE COMPANIES WILL BE PAID
HOW OFTEN MUST AN INSURANCE PRODUCER'S LICENSE BE RENEWED
EVERY TWO YEARS
A HEARING MUST BE HELD BEFORE A PRODUCER'S LICENSE CAN BE SUSPENDED OR REVOKED. PRIOR TO THE HEARING, THE COMMISIONER OF INSURACE IS REQUIRED TO
GIVE WRITTEN NOTICE TO THE PRODUCER
A HEARING MUST BE HELD BEFORE A PRODUCER'S LICENSE CAN BE SUSPENDED OR REVOKED. PRIOR TO THE HEARING, THE COMMISSIONER IS REQUIRED TO
GIVE WRITTEN NOTICE TO THE PRODUCER
THE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION
IS FUNDED BY INSURANCE COMPANIES THROUGH ASSESSMENTS
WHTH WHOM MAY A PRODUCER SHAR COMMISSIONS WITH
LICENSED PRODUCER
LIFE INSURANCE REPLACEMENT REGUALTION IS DESIGNED TO PROTECT THE INTEREST OF THE
POLICYOWNER
AN INSURANCE COMPANY APPOINTS A(N) ______ TO TRANSACT INSURANCE
PRODUCER
A PRODUCER HAS RETURNED PART OF HIS COMMISSION TO THE INSURED AS AN INDUCEMENT TO PURCHASE THE INSURANCE. THIS ILLEGAL ACTION IS CALLED
REBATING
THE RULE GOVERNING LIFE INSURANCE AND ANNUITY REPLACEMENTS WERE CREATED TO
REDUCE THE OPPORTUNITY FOR MISREPRESENTATION AND INCOMLETE DISCLOSURE
J is a producer who is recommending that an insured surrender an existing life insurance policy and purchase a new one. Which provision would this producer be subject to?
REPLACEMENT
WHICH OF THE FOLLOWING WOULD BE A VALID REASON FOR SUSMENDING OR REVOKING AN INSURANCE PRODUCER'S LICENSE
THE PRODUCER HAS MISAPPROPRIATED MONEY HELD INA FIDUCIARY CAPACITY
J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of?
TWISTING
AT WHAT POINT DOES THE LIFE AND HEALT INSURANCE GUARANTY ASSOCIATION BECOMES INVOLVED WITH AN INSURER'S AFFAIRS
WHE THE INSURER BECOMES INSOLVENT
T is a producer who forgot to renew her license. She may reapply for a license without an examination
WITHIN ONE YEAR AFTER NO RENEWAL
THE COMMISSION OF INSURANCE MUST GIVE ___ DAYS NOTICE BEFORE HOLDING A HEARING REGARDING A PORDUCER'S UFAIR PRACTICE
10
A PRODUCER MUST NOTIFIY THE COMMISSIONER OF INSURANCE WITHN ____ DAYS OF AN ADDRESS CHANGE
30
Any criminal charges taken against a producer must be reported to the Commissioner of Insurance by the producer within how many days of the final disposition?
30
ABC INSURANCE COMPANY IS REPLACING AN EXISTING LIFE POLICY FROM JYZ INSURANCE COMPANY. ABC INSURANCE COMPANY MUST PROVIDE WHICH OF THE FOLLOWING DOCUMENTS TO XYZ INSURANCE COMPANY
A POLICY SUMMARY
A PRODUCER IS ATTEMPTING TO REULACE AN EXISTING LIFE INSURANCE POLICY WITHA NEW ONE. WHAT MUS T THIS PRODUCER SUBM]T AS A PART OF THE APPLICATION
A SIGNED STATEMENT BY THE APPICANT REGARDING THE REPLACEMENT
