Question

Each of the following is true about the Mississippi Residential Property Insurance Underwriting Association EXCEPT

A) The MRPIUA is a government agency responsible for regulating residential property insurance in Mississippi.
B) The MRPIUA provides insurance coverage for residential properties in Mississippi when traditional insurance is not available.
C) The MRPIUA exclusively offers insurance to high-income homeowners in Mississippi.
D) The MRPIUA operates in all states within the United States.

Answer 1

The false statement about the MRPIUA is that it exclusively offers insurance to high-income homeowners in Mississippi. This is incorrect as MRPIUA serves all homeowners who can't obtain insurance through the regular market, irrespective of their income. The correct option is C.

Step-by-step explanation:

The question asks which statement about the Mississippi Residential Property Insurance Underwriting Association (MRPIUA) is EXCEPT, meaning it is the statement that is not true.

The MRPIUA is an association that helps provide insurance coverage for residential properties in regions where it might be difficult to obtain traditional insurance.

However, it is not a government regulatory agency, nor does it operate in all states within the United States, and it certainly does not exclusively offer insurance to high-income homeowners.

The correct answer is C) The MRPIUA exclusively offers insurance to high-income homeowners in Mississippi. This statement is false because the MRPIUA provides insurance to homeowners who cannot find coverage in the regular market, regardless of income level.