All Practice Exam Questions - Life,
Accident and Sickness - GA State License
10 days have to pass from the reinstatement date - ANS - how fast does coverage start if
the insurance company decides to reinstate a sickness policy?
100 years of age - ANS - Premiums are no longer payable for a Whole Life Policy when
the insured reaches what age?
100% - ANS - How much participation does a Noncontributory plan require?
12.4% - ANS - If an individual is self-employed, how much is the Social Security tax?
15 days - ANS - How many days does the insurer have to provide claim forms from the
insurance company? 15, 30, 60 days?
2 years - ANS - How long is the suicide clause generally in force on an insurance policy?
2 years - ANS - The length of the contestability period for material misrepresentation on a
life policy is typically how long?
2-50 employees - ANS - How many employees are needed for an employer to qualify as a
small group?
45 days - ANS - How long does the insurance company have to decide whether or not
they are going to rewrite the policy?
60 days - ANS - A binding receipt (binder) provides coverage from the date of the date of
the application and usually lasts for ____ days.
60 days - ANS - If you want to sue the insurance company, you must wait ______days
after written proof of loss has been approved before any legal action can be take
65 - ANS - Eligible individuals automatically enrolled in Part A of Medicare are enrolled on
the first day of the month in which they reach what age?
65 (Medicare kicks in) - ANS - Typically, health insurance policies stipulate that coverage
cannot be renewed beyond age?
70 - ANS - Individuals with earned income are eligible to own an IRA if they are under the
age of?
, 75% - ANS - How much participation does a Contributory plan require?
a cousin, or in-law - ANS - An applicant can have insurable interest on a spouse, parent,
grandparent, siblings, but not?
A temporary waiver of premium - ANS - What type of benefit does a Payor rider provide?
Accidental Bodily Injury - ANS - any accident is an event that results in a loss
Accidental Death and Dismemberment Rider - ANS - pays the principal sum (face
amount) if, due to an accident and the insured loses both hands, both arms, both legs,
and vision in both eyes
Accidental means - ANS - reason for the accident must be unintentional or unexpected
accidental means is unintentional or unexpected injury (car accident), accidental bodily
injury is an accident that results in a loss (sitting in a wobbly chair and breaking the
tailbone) - ANS - What is the difference between accidental means and accidental bodily
injury?
Adhesion - ANS - Insurance contracts are contracts of?
Adjustable Life Policy - ANS - If policyowner makes extra premium payments on this
policy, a decrease in premium period, increase in face amount, and/or increase in
coverage period can occur
Adverse Selection - ANS - the problem of incomplete information - of choosing
alternatives without fully knowing the details of available options.
The tendency for poorer than average risks to seek out insurance.
age 62 - ANS - Earliest that a worker can receive social security retirement benefits
Age, sex, interest rate, income amount and payment guarantee, and loading costs - ANS -
What are the factors of the Annuitant that determine the amount of an annuity premium?
an individual, business, estate, minor child/children, trust, charity or a class of
individuals - ANS - When naming a beneficiary, the policyowner can choose who?
Any Occupation - ANS - A definition of total disability that requires that for disability
income benefits to be payable, the insured must be unable to perform any job for which
the insured is "reasonably suited by reason of education, training, or experience."
Accident and Sickness - GA State License
10 days have to pass from the reinstatement date - ANS - how fast does coverage start if
the insurance company decides to reinstate a sickness policy?
100 years of age - ANS - Premiums are no longer payable for a Whole Life Policy when
the insured reaches what age?
100% - ANS - How much participation does a Noncontributory plan require?
12.4% - ANS - If an individual is self-employed, how much is the Social Security tax?
15 days - ANS - How many days does the insurer have to provide claim forms from the
insurance company? 15, 30, 60 days?
2 years - ANS - How long is the suicide clause generally in force on an insurance policy?
2 years - ANS - The length of the contestability period for material misrepresentation on a
life policy is typically how long?
2-50 employees - ANS - How many employees are needed for an employer to qualify as a
small group?
45 days - ANS - How long does the insurance company have to decide whether or not
they are going to rewrite the policy?
60 days - ANS - A binding receipt (binder) provides coverage from the date of the date of
the application and usually lasts for ____ days.
60 days - ANS - If you want to sue the insurance company, you must wait ______days
after written proof of loss has been approved before any legal action can be take
65 - ANS - Eligible individuals automatically enrolled in Part A of Medicare are enrolled on
the first day of the month in which they reach what age?
65 (Medicare kicks in) - ANS - Typically, health insurance policies stipulate that coverage
cannot be renewed beyond age?
70 - ANS - Individuals with earned income are eligible to own an IRA if they are under the
age of?
, 75% - ANS - How much participation does a Contributory plan require?
a cousin, or in-law - ANS - An applicant can have insurable interest on a spouse, parent,
grandparent, siblings, but not?
A temporary waiver of premium - ANS - What type of benefit does a Payor rider provide?
Accidental Bodily Injury - ANS - any accident is an event that results in a loss
Accidental Death and Dismemberment Rider - ANS - pays the principal sum (face
amount) if, due to an accident and the insured loses both hands, both arms, both legs,
and vision in both eyes
Accidental means - ANS - reason for the accident must be unintentional or unexpected
accidental means is unintentional or unexpected injury (car accident), accidental bodily
injury is an accident that results in a loss (sitting in a wobbly chair and breaking the
tailbone) - ANS - What is the difference between accidental means and accidental bodily
injury?
Adhesion - ANS - Insurance contracts are contracts of?
Adjustable Life Policy - ANS - If policyowner makes extra premium payments on this
policy, a decrease in premium period, increase in face amount, and/or increase in
coverage period can occur
Adverse Selection - ANS - the problem of incomplete information - of choosing
alternatives without fully knowing the details of available options.
The tendency for poorer than average risks to seek out insurance.
age 62 - ANS - Earliest that a worker can receive social security retirement benefits
Age, sex, interest rate, income amount and payment guarantee, and loading costs - ANS -
What are the factors of the Annuitant that determine the amount of an annuity premium?
an individual, business, estate, minor child/children, trust, charity or a class of
individuals - ANS - When naming a beneficiary, the policyowner can choose who?
Any Occupation - ANS - A definition of total disability that requires that for disability
income benefits to be payable, the insured must be unable to perform any job for which
the insured is "reasonably suited by reason of education, training, or experience."
