GA LIFE INSURANCE EXAM 2026
COMPLETE PRACTICE QUESTIONS AND
CORRECT ANSWERS WITH DETAILED
EXPLANATIONS GEORGIA LIFE
INSURANCE PRODUCER LICENSING EXAM
STUDY GUIDE GRADE A+ 2026 EDITION
Variable annuities may invest premiums in each of the following, EXCEPT:
- CORRECT ANSWER -insurer's corporate business account
Which type of contract liquidates an estate through recurrent payments? -
CORRECT ANSWER -annuity
The type of annuity that can be purchases with one monetary deposit is
called a(n): - CORRECT ANSWER -immediate annuity
An annuity promises that, if the annuitant dies before receiving payments
equal to the correct value, the payments will be continued to a beneficiary
until an amount equal to the contract value has been paid. This type of
annuity is called: - CORRECT ANSWER -an installment refund annuity
T has an annuity that guarantees an income payment for the rest of his life.
The contract also guarantees that if T dies before receiving payments for 20
years, the remaining payments will be paid to his son for the balance of the
,20 years. What type of annuity is this? - CORRECT ANSWER -Life Annuity
and Period Certain
The annuity that represents the largest possible monthly payment to an
individual annuitant is a(n): - CORRECT ANSWER -Straight Life annuity
Which of the following annuities pays benefits based on units rather than
specific dollar amounts? - CORRECT ANSWER -a Variable annuity
P, age 50, purchased an annuity that P will fund with $500/ month for 15
years. The annuity will then pay P retirement payments after the 15 years.
Which type of annuity did P purchase? - CORRECT ANSWER -Deferred
Which of the following does Social Security NOT provide benefits for? -
CORRECT ANSWER -dismemberment
What determines the full amount of Social Security retirement benefits a
qualifies individual is entitles to receive? - CORRECT ANSWER -Primary
Insurance Amount (PIA)
One becomes eligible for Social Security disability benefits after having
been disabled for: - CORRECT ANSWER -5 months
What type of reinsurance contract involves two companies automatically
sharing their risk exposure? - CORRECT ANSWER -Treaty
, Q is severely injured in an automobile accident and becomes totally
disabled. How many months must Q be disabled before being able to apply
for Social Security disability benefits? - CORRECT ANSWER -5
All of these are considered to be a benefit under Social Security, EXCEPT
for: - CORRECT ANSWER -unemployment
A trustee-to-trustee transfer of rollover funds in a qualified plan allows a
participant to avoid: - CORRECT ANSWER -mandatory income tax
withholding on the transfer amount
A qualified profit-sharing plan is designed to: - CORRECT ANSWER -allow
employees to participate in the profits of the company
What type of employee welfare plans are not subject to ERISA regulations?
- CORRECT ANSWER -church plans
Which of the following is TRUE if the owner of an IRA names their spouse
as beneficiary, but then dies before any distributions are made? - CORRECT
ANSWER -the account can be rolled into the surviving spouse's IRA
Which plan is intended to be used by a sole proprietor and the employees of
that business? - CORRECT ANSWER -Keogh Plan
A retirement plan that sets aside part of the company's net income for
distributions to qualifies employees is called a: - CORRECT ANSWER -profit-
sharing plan
COMPLETE PRACTICE QUESTIONS AND
CORRECT ANSWERS WITH DETAILED
EXPLANATIONS GEORGIA LIFE
INSURANCE PRODUCER LICENSING EXAM
STUDY GUIDE GRADE A+ 2026 EDITION
Variable annuities may invest premiums in each of the following, EXCEPT:
- CORRECT ANSWER -insurer's corporate business account
Which type of contract liquidates an estate through recurrent payments? -
CORRECT ANSWER -annuity
The type of annuity that can be purchases with one monetary deposit is
called a(n): - CORRECT ANSWER -immediate annuity
An annuity promises that, if the annuitant dies before receiving payments
equal to the correct value, the payments will be continued to a beneficiary
until an amount equal to the contract value has been paid. This type of
annuity is called: - CORRECT ANSWER -an installment refund annuity
T has an annuity that guarantees an income payment for the rest of his life.
The contract also guarantees that if T dies before receiving payments for 20
years, the remaining payments will be paid to his son for the balance of the
,20 years. What type of annuity is this? - CORRECT ANSWER -Life Annuity
and Period Certain
The annuity that represents the largest possible monthly payment to an
individual annuitant is a(n): - CORRECT ANSWER -Straight Life annuity
Which of the following annuities pays benefits based on units rather than
specific dollar amounts? - CORRECT ANSWER -a Variable annuity
P, age 50, purchased an annuity that P will fund with $500/ month for 15
years. The annuity will then pay P retirement payments after the 15 years.
Which type of annuity did P purchase? - CORRECT ANSWER -Deferred
Which of the following does Social Security NOT provide benefits for? -
CORRECT ANSWER -dismemberment
What determines the full amount of Social Security retirement benefits a
qualifies individual is entitles to receive? - CORRECT ANSWER -Primary
Insurance Amount (PIA)
One becomes eligible for Social Security disability benefits after having
been disabled for: - CORRECT ANSWER -5 months
What type of reinsurance contract involves two companies automatically
sharing their risk exposure? - CORRECT ANSWER -Treaty
, Q is severely injured in an automobile accident and becomes totally
disabled. How many months must Q be disabled before being able to apply
for Social Security disability benefits? - CORRECT ANSWER -5
All of these are considered to be a benefit under Social Security, EXCEPT
for: - CORRECT ANSWER -unemployment
A trustee-to-trustee transfer of rollover funds in a qualified plan allows a
participant to avoid: - CORRECT ANSWER -mandatory income tax
withholding on the transfer amount
A qualified profit-sharing plan is designed to: - CORRECT ANSWER -allow
employees to participate in the profits of the company
What type of employee welfare plans are not subject to ERISA regulations?
- CORRECT ANSWER -church plans
Which of the following is TRUE if the owner of an IRA names their spouse
as beneficiary, but then dies before any distributions are made? - CORRECT
ANSWER -the account can be rolled into the surviving spouse's IRA
Which plan is intended to be used by a sole proprietor and the employees of
that business? - CORRECT ANSWER -Keogh Plan
A retirement plan that sets aside part of the company's net income for
distributions to qualifies employees is called a: - CORRECT ANSWER -profit-
sharing plan
