Georgia Laws and Rules Questions and
answers latest update
J is an agent who recently told a claimant that his rights might be impaired if he does not complete a
release form within a specified time. What could this agent be found guilty of?
Coercion
All agents licensed less than 20 Years are required to complete ___ continuing education hours every
two years,
24
In Georgia, most life insurance policies have a contestability period of
2 years
All accident and sickness plans MUST provide coverage on newborn children for ___ days
31
In Georgia, an insurer licensed to conduct business in Georgia, but domiciled in New Jersey, is called a
foreign company
In Georgia, which of the following statements is CORRECT about life insurance advertisements?
An insurance agency is responsible for advertisements placed by its insurance agents
In Georgia, an example of an alien insurer would be one that is incorporated in
France
Alien insurance company is a company that is charted and organized in any country other than the
United States. Therefore, a company chartered in France would be an alien company in Georgia.
In Georgia, long-term care policies are required to provide benefits for at least
12 Months
An insurance agent is guilty of___ if the agent misrepresents a policy to induce a policyowner to
surrender an existing policy.
twisting
A domestic insurance company in Georgia is considered a company that
is incorporated and formed in Georgia
T is an agent and when hired, is reminded that he has a responsibility to handle clients' funds in an
honest and ethical manner. This responsibility is referred to as
fiduciary responsibility
An agent would be guilty of rebating by
returning a portion of a premium as incentive to purchase insurance
, Using an existing life insurance policy's cash value to purchase another policy with with same insurer
for the sole purpose of earning additional commissions is called
Churning
An agent must have ___ hours of ethics per continuing education reporting period
3
Convincing a prospective insured to buy an insurance policy based on exaggerations is called
misrepresentation
In Georgia, which of the following is considered an Unfair Trade Practice
Coercion
In the state of Georgia, every policyowner must be offered which of the following
free-look period
The purpose of the Rules Governing Advertisement of Life Insurance and Annuities is to
assure full disclosure to the public of all material and relevant information
Under which circumstance may the Commissioner of Insurance suspend, revoke, or refuse to renew
the license of an agent
Agent is found guilty of misrepresentation in obtaining the license
An example of an unfair claims settlement practice is
turning down a claim without providing the basis of denial
Which document MUST accompany an application that initiates the replacement of an existing life
insurance policy
A signed statement by the applicant regarding the replacement
A producer must notify the Commissioner within___ days of an address change
30
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific
company. What is the bank guilty of?
Coercion
Which of the following correctly describes a certificate of authority?
Permits an insurance company to transact business in Georgia
An example of an unfair claims practice would be
failing to effectuate prompt, fair, and equitable settlements of a claim
answers latest update
J is an agent who recently told a claimant that his rights might be impaired if he does not complete a
release form within a specified time. What could this agent be found guilty of?
Coercion
All agents licensed less than 20 Years are required to complete ___ continuing education hours every
two years,
24
In Georgia, most life insurance policies have a contestability period of
2 years
All accident and sickness plans MUST provide coverage on newborn children for ___ days
31
In Georgia, an insurer licensed to conduct business in Georgia, but domiciled in New Jersey, is called a
foreign company
In Georgia, which of the following statements is CORRECT about life insurance advertisements?
An insurance agency is responsible for advertisements placed by its insurance agents
In Georgia, an example of an alien insurer would be one that is incorporated in
France
Alien insurance company is a company that is charted and organized in any country other than the
United States. Therefore, a company chartered in France would be an alien company in Georgia.
In Georgia, long-term care policies are required to provide benefits for at least
12 Months
An insurance agent is guilty of___ if the agent misrepresents a policy to induce a policyowner to
surrender an existing policy.
twisting
A domestic insurance company in Georgia is considered a company that
is incorporated and formed in Georgia
T is an agent and when hired, is reminded that he has a responsibility to handle clients' funds in an
honest and ethical manner. This responsibility is referred to as
fiduciary responsibility
An agent would be guilty of rebating by
returning a portion of a premium as incentive to purchase insurance
, Using an existing life insurance policy's cash value to purchase another policy with with same insurer
for the sole purpose of earning additional commissions is called
Churning
An agent must have ___ hours of ethics per continuing education reporting period
3
Convincing a prospective insured to buy an insurance policy based on exaggerations is called
misrepresentation
In Georgia, which of the following is considered an Unfair Trade Practice
Coercion
In the state of Georgia, every policyowner must be offered which of the following
free-look period
The purpose of the Rules Governing Advertisement of Life Insurance and Annuities is to
assure full disclosure to the public of all material and relevant information
Under which circumstance may the Commissioner of Insurance suspend, revoke, or refuse to renew
the license of an agent
Agent is found guilty of misrepresentation in obtaining the license
An example of an unfair claims settlement practice is
turning down a claim without providing the basis of denial
Which document MUST accompany an application that initiates the replacement of an existing life
insurance policy
A signed statement by the applicant regarding the replacement
A producer must notify the Commissioner within___ days of an address change
30
As a condition for a loan, a bank requires the borrower to purchase credit insurance from a specific
company. What is the bank guilty of?
Coercion
Which of the following correctly describes a certificate of authority?
Permits an insurance company to transact business in Georgia
An example of an unfair claims practice would be
failing to effectuate prompt, fair, and equitable settlements of a claim
