12-GA-62 Georgia Variable Products Exam (Latest 2026/ 2027 Update) Prep| 100% Verified Questions & Answers | Grade A

12-GA-62l Georgial Variablel Productsl
Examl (Latestl 2026/l 2027l Update)l Prep|l
100%l Verifiedl Questionsl &l Answersl |l
Gradel A

Q:l Whatl provisionsl arel 'similar'l orl commonl betweenl Wholel Lifel andl Fixedl Premiuml
Variablel life?

Answer:
Entirel Contractl /l Premiumsl /l Inontestability-Suicidel /l Assignmentl /l Misstatementl ofl Agel
orl Genderl /l Gracel periodl /l Incidentall insurancel Benefitsl /l Automaticl Premiuml Loanl /l
Dividendsl /l Deferrall Provision



Q:l Describel thel characteristicsl ofl thel Entirel Contractl Provision?
Answer:
Beginningl ofl thel contract.l Separatesl thel salesl processl froml policyl delivery



Q:l Describel thel characteristicsl ofl thel Incontestability-Suicidel Provision?
Answer:
Protectsl thel insurerl froml 'badl actors'.l Benefitsl arel payablel evenl inl thel facel ofl provablel
fraudl orl suicidel afterl thisl period.



Q:l Describel thel characteristicsl ofl thel Mistatementl ofl Agel Provision?
Answer:
It'sl al statutoryl exceptionl tol thel Incontestabilityl provision.l Thel insurerl willl onlyl adjustl
thel benefits.

,Q:l Describel thel characteristicsl ofl thel Gracel Periodl Provision?
Answer:
Thel distinctionl isl betweenl Fixedl andl Flexiblel premiuml options,l notl betweenl variablel
andl non-variablel policies.



Q:l Describel thel characteristicsl ofl thel Gracel Periodl Provisionl forl Fixedl Premiuml
policies?

Answer:
31-dayl periodl oncel thel paymentl isl missed.l Non-forfeiturel applies.l Ifl non-forfeiturel
optionl wasn'tl selected,l thel insurerl willl usel thel cashl valuel tol purchasel extendedl terml
life



Q:l Describel thel characteristicsl ofl thel Gracel Periodl Provisionl forl Flexiblel Premiuml
policies?

Answer:
61-dayl periodl oncel thel cashl valuel isl insufficientl tol makel thel nextl mortalityl charge.



Q:l Describel thel characteristicsl ofl Incidentall insurancel Benefitsl Provision?
Answer:
Theyl arel fixedl inl naturel evenl whenl addedl tol variablel policies.



Q:l Describel thel characteristicsl ofl Automaticl Premiuml Loanl Provision?
Answer:
Onlyl appliesl tol Fixedl Premiuml policies.l Thel insurerl willl takel al loanl againstl thel cashl
valuel whichl accruesl interestl andl reducesl thel facel andl thel deathl benefit.

, Q:l Describel thel characteristicsl ofl Deferrall Provisionl forl Fixedl Premiuml policies?
Answer:
Fixedl policiesl mustl payl immediatelyl anyl GMD.



Q:l Describel thel characteristicsl ofl Deferrall Provisionl forl Variablel Premiuml policies?
Answer:
Flexiblel policiesl mayl deferredl forl sixl (6)l monthsl alll policyl values.



Q:l Whatl provisionsl arel distinctl forl Fixedl Premiuml Variablel life?
Answer:
Deathl Benefitl /l Cashl Valuesl /l Freel Lookl /l Reinstatementl /l Contractl Exchangel /l Policyl
Loans



Q:l Describel thel Deathl Benefitl inl al Fixedl Premiuml Policy?
Answer:
Fixedl premiuml policiesl havel twol deathl benefits:l GMDl (agel 100)l andl al Variablel deathl
benefit



Q:l Describel thel Deathl Benefitl inl al Flexiblel Premiuml Policy?
Answer:
Flexiblel premiuml policiesl havel nol guaranteedl anything.l It'sl alll variable.



Q:l Describel thel Cashl Valuel inl al Non-variablel Policy?
Answer:
Non-variablel policiesl cashl valuesl arel guaranteedl andl growl linearlyl orl Tabularl andl
publishedl inl thel contract.