XCEL/Pearson Vue: 200 Question Exam Simulator: Georgia Life and Health
Study online at https://quizlet.com/_g7zqcl
1. Who owns a stock company? Its stockholders
2. Why would the Commissioner examine an insur- To determine the solvency of the
er's records? insurer
3. With whom may an agent legally share commis- Another agent who is licensed in
sions? the same line of insurance
4. An example of unfair discrimination would be offering different terms of cover-
age for different policyowners hav-
ing the same risk classification
5. All accident and sickness plans MUST provide 31
coverage on newborn children for ___ days.
6. In Georgia, an accident and sickness policy that 31 days
is paid on a quarterly basis requires a grace
period of
7. In Georgia, long-term care policies are required 12 months
to provide benefits for at least
8. During the application process, the agent's pri- the insurance company
mary responsibility is to
9. How often must an insurance agent license be Every 2 years
renewed in Georgia?
10. Upon reaching the limiting age, a handicapped only if the child is incapable of em-
child can extend their accident and sickness in- ployment and chiefly dependent
surance coverage as a dependent on the policyowner
11. When is a group accident and health policy re- At the moment of birth
quired to provide coverage for a newborn child?
, XCEL/Pearson Vue: 200 Question Exam Simulator: Georgia Life and Health
Study online at https://quizlet.com/_g7zqcl
12. An insurance agent is in violation of the Rules Refers to guaranteed policy divi-
Governing Advertisement of Life Insurance and dends
Annuities if the agent takes which of the follow-
ing actions during a sales presentation?
13. In Georgia, an example of an alien insurer would France
be one that is incorporated in
14. In Georgia, most life insurance policies have a 2 years
contestability period of
15. Life insurance replacement regulation protects the policyowner
the interests of
16. What is the reason for the establishment of Lessen the chance for misrepre-
Rules Governing Life Insurance and Annuity Re- sentation and incomplete disclo-
placements? sure
17. Which of the following is the MINIMUM age at 15
which an individual can sign a life insurance ap-
plication?
18. Insurance agent licenses normally must be re- 2
newed every ___ years in Georgia.
19. Prior to a hearing that could potentially revoke Giving written notice to the agent
an agent's license, what is required by the Com-
missioner?
20. Someone who is appointed by an insurer to en- agent
gage in insurance transactions is called a(n)
21. Churning
, XCEL/Pearson Vue: 200 Question Exam Simulator: Georgia Life and Health
Study online at https://quizlet.com/_g7zqcl
Using an existing life insurance policy's cash val-
ue to purchase another policy with the same in-
surer for the sole purpose of earning additional
commissions is called
22. What's the requirement for a nonresident agent Being a licensed agent in the
license applicant? agent's home state
23. A domestic insurance company MUST be exam- 5
ined by the Commissioner every __ years.
24. A person who is required to be a licensed agent person who places insurance on
would be a(n) behalf of anyone seeking insurance
25. An agent must have ___ hours of ethics per con- 3
tinuing education reporting period.
26. A Key Employee policy is taken out by Company Company X
X on its vice president. Ten years later, this em-
ployee leaves Company X and begins working
for Company Y. If this individual were to die and
the policy is still in force and unchanged, where
would the death proceeds be directed?
27. What is considered a valid reason for small busi- Fund a but-sell agreement
nesses to insure the lives of its major sharehold-
ers?
28. Which of these factors does NOT influence an Self-maintenance expenses
applicant's need for life insurance?
29. If a retiree on Medicare required five hospital Medicare Supplement
stays in one year, which policy would provide the
best insurance for excess hospital expenses?
Study online at https://quizlet.com/_g7zqcl
1. Who owns a stock company? Its stockholders
2. Why would the Commissioner examine an insur- To determine the solvency of the
er's records? insurer
3. With whom may an agent legally share commis- Another agent who is licensed in
sions? the same line of insurance
4. An example of unfair discrimination would be offering different terms of cover-
age for different policyowners hav-
ing the same risk classification
5. All accident and sickness plans MUST provide 31
coverage on newborn children for ___ days.
6. In Georgia, an accident and sickness policy that 31 days
is paid on a quarterly basis requires a grace
period of
7. In Georgia, long-term care policies are required 12 months
to provide benefits for at least
8. During the application process, the agent's pri- the insurance company
mary responsibility is to
9. How often must an insurance agent license be Every 2 years
renewed in Georgia?
10. Upon reaching the limiting age, a handicapped only if the child is incapable of em-
child can extend their accident and sickness in- ployment and chiefly dependent
surance coverage as a dependent on the policyowner
11. When is a group accident and health policy re- At the moment of birth
quired to provide coverage for a newborn child?
, XCEL/Pearson Vue: 200 Question Exam Simulator: Georgia Life and Health
Study online at https://quizlet.com/_g7zqcl
12. An insurance agent is in violation of the Rules Refers to guaranteed policy divi-
Governing Advertisement of Life Insurance and dends
Annuities if the agent takes which of the follow-
ing actions during a sales presentation?
13. In Georgia, an example of an alien insurer would France
be one that is incorporated in
14. In Georgia, most life insurance policies have a 2 years
contestability period of
15. Life insurance replacement regulation protects the policyowner
the interests of
16. What is the reason for the establishment of Lessen the chance for misrepre-
Rules Governing Life Insurance and Annuity Re- sentation and incomplete disclo-
placements? sure
17. Which of the following is the MINIMUM age at 15
which an individual can sign a life insurance ap-
plication?
18. Insurance agent licenses normally must be re- 2
newed every ___ years in Georgia.
19. Prior to a hearing that could potentially revoke Giving written notice to the agent
an agent's license, what is required by the Com-
missioner?
20. Someone who is appointed by an insurer to en- agent
gage in insurance transactions is called a(n)
21. Churning
, XCEL/Pearson Vue: 200 Question Exam Simulator: Georgia Life and Health
Study online at https://quizlet.com/_g7zqcl
Using an existing life insurance policy's cash val-
ue to purchase another policy with the same in-
surer for the sole purpose of earning additional
commissions is called
22. What's the requirement for a nonresident agent Being a licensed agent in the
license applicant? agent's home state
23. A domestic insurance company MUST be exam- 5
ined by the Commissioner every __ years.
24. A person who is required to be a licensed agent person who places insurance on
would be a(n) behalf of anyone seeking insurance
25. An agent must have ___ hours of ethics per con- 3
tinuing education reporting period.
26. A Key Employee policy is taken out by Company Company X
X on its vice president. Ten years later, this em-
ployee leaves Company X and begins working
for Company Y. If this individual were to die and
the policy is still in force and unchanged, where
would the death proceeds be directed?
27. What is considered a valid reason for small busi- Fund a but-sell agreement
nesses to insure the lives of its major sharehold-
ers?
28. Which of these factors does NOT influence an Self-maintenance expenses
applicant's need for life insurance?
29. If a retiree on Medicare required five hospital Medicare Supplement
stays in one year, which policy would provide the
best insurance for excess hospital expenses?
