Mississippi Insurance Test Exam Questions (195 Terms) With Verified Definitions Updated 2024

A condition that states that the insurer will only be responsible for a proportional share of an insured loss when the insured also has other insurance written according to the same plan, terms, and conditions is known as {Ans: Pro-Rata liability provision}A policy written to cover personal property only would be which homeowner's form {Ans: HO3}Which of the following risk terms describes a building in which no one is in, but the occupants intend to return {Ans: Unoccupied}If a person has engaged in an unfair or deceptive practice, the commissioner may impose an administrative fine up to {Ans: $5,000 per violation}Which of the following terms describes a single limit of insurance that applies to all items of that property type {Ans: Blanket}Coverage is available under the Emergency Flood Program to the following {Ans: In communities who apply to the NFIP until rates are finalized}What are the two flood insurance programs that are available {Ans: Emergency program and the regular program}All of the following are true about temporary licenses issued by the Commissioner except {Ans: Applicants for temporary license must take and pass a written exam}Ray's auto policy has a $50,000 bodily injury