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Life and Health Insurance Producer Exam

Penalties (MS): practice questions

Our Life & Health Insurance bank has 7 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Mississippi

Where and how soon may a person seek review of a cease and desist order issued for an unfair trade practice?

  1. Only by petition to the Governor, within 10 days
  2. In the circuit court of Hinds County, within 30 days of service
  3. In the Mississippi Supreme Court, within one year of the order
  4. In any federal district court, within 90 days
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B. In the circuit court of Hinds County, within 30 days of service — Miss. Code Ann. 83-5-43(1).

Question 2 · Mississippi

Besides suspension or revocation, what civil penalty may the commissioner levy on a producer for each licensing violation under 83-17-71?

  1. Up to $25,000 per violation
  2. Up to $1,000 per violation
  3. Up to $250 per violation
  4. A fixed $5,000 fine regardless of the facts
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B. Up to $1,000 per violation — Miss. Code Ann. 83-17-71(1), (4).

Question 3 · Mississippi

After a hearing on an unfair trade practice, what administrative fine may the commissioner impose in addition to or instead of a cease and desist order?

  1. Up to $500 per violation
  2. Up to $5,000 per violation
  3. Only a cease and desist order; no fine is allowed
  4. Up to $100,000 per violation
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B. Up to $5,000 per violation — Miss. Code Ann. 83-5-41(1).

Question 4 · Mississippi

An agent knowingly makes a false statement in an insurance application to earn a commission. Under 83-7-11, this is a

  1. violation handled solely by the insurer's internal audit
  2. misdemeanor, with a fine of $100 to $500 or at least 30 days in county jail
  3. felony punishable by up to ten years in the state penitentiary and permanent license loss
  4. civil matter only, with no criminal penalty
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B. misdemeanor, with a fine of $100 to $500 or at least 30 days in county jail — Miss. Code Ann. 83-7-11.

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