Georgia Laws And Rules Exam Questions
With Correct Answers
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?☑️Correct Ans-Coercion
When advertising, an insurer is required to use its ___☑️Correct Ans-true corporate name
Which type of insurance company allows their policyowners to elect governing
body?☑️Correct Ans-Mutual
T is an agent and when hired, is reminded that he has a responsibility to handle client's funds in
an honest and ethical manner. This responsibility is referred to as☑️Correct Ans-fiduciary
responsibility
Which of the following is NOT an unfair claim settlement practice?☑️Correct Ans-Needing
written documentation of claim details
Before an insurance company can pay commissions to an agent, the agent must be☑️Correct
Ans-licensed and appointed
What is one of the roles of the Commissioner?☑️Correct Ans-Administering insurance laws
In Georgia, an example of an alien insurer would be one that is incorporated in☑️Correct Ans-
France
All agents licensed less than 20 years are required to complete ___ continuing education hours
every two years.☑️Correct Ans-24
, During the application process, the agent's responsibility is to☑️Correct Ans-the insurance
company
A person who is required to be a licensed agent would be a(n)☑️Correct Ans-a person who
places insurnace on behalf
All accident and sickness plans MUST provide coverage on newborn children for ___
days.☑️Correct Ans-31
Insurance agents do NOT have a fiduciary responsibility to☑️Correct Ans-another agent
The coordination of benefits (COB) provision exists in order to☑️Correct Ans-avoid
duplication of benefit payments
Which of the following is the MINIMUM age at which an individual can sign a life insurance
application?☑️Correct Ans-15
Someone who is appointed by an insurer to engage in insurance transactions is called
a(n)☑️Correct Ans-agent
The purpose of the Rules Governing Advertisement of Life Insurance and Annuities is
to☑️Correct Ans-assure full disclosure to the public of all material and relevant information
In Georgia, an insurance company must notify the Commissioner within ____ days to terminate
an agent's appointment.☑️Correct Ans-30
What is an organization that solicits insurance only to its members?☑️Correct Ans-Fraternal
benefit society
What is NOT a requirement for becoming a licensed agent in Georgia?☑️Correct Ans-high
school graduate
With Correct Answers
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?☑️Correct Ans-Coercion
When advertising, an insurer is required to use its ___☑️Correct Ans-true corporate name
Which type of insurance company allows their policyowners to elect governing
body?☑️Correct Ans-Mutual
T is an agent and when hired, is reminded that he has a responsibility to handle client's funds in
an honest and ethical manner. This responsibility is referred to as☑️Correct Ans-fiduciary
responsibility
Which of the following is NOT an unfair claim settlement practice?☑️Correct Ans-Needing
written documentation of claim details
Before an insurance company can pay commissions to an agent, the agent must be☑️Correct
Ans-licensed and appointed
What is one of the roles of the Commissioner?☑️Correct Ans-Administering insurance laws
In Georgia, an example of an alien insurer would be one that is incorporated in☑️Correct Ans-
France
All agents licensed less than 20 years are required to complete ___ continuing education hours
every two years.☑️Correct Ans-24
, During the application process, the agent's responsibility is to☑️Correct Ans-the insurance
company
A person who is required to be a licensed agent would be a(n)☑️Correct Ans-a person who
places insurnace on behalf
All accident and sickness plans MUST provide coverage on newborn children for ___
days.☑️Correct Ans-31
Insurance agents do NOT have a fiduciary responsibility to☑️Correct Ans-another agent
The coordination of benefits (COB) provision exists in order to☑️Correct Ans-avoid
duplication of benefit payments
Which of the following is the MINIMUM age at which an individual can sign a life insurance
application?☑️Correct Ans-15
Someone who is appointed by an insurer to engage in insurance transactions is called
a(n)☑️Correct Ans-agent
The purpose of the Rules Governing Advertisement of Life Insurance and Annuities is
to☑️Correct Ans-assure full disclosure to the public of all material and relevant information
In Georgia, an insurance company must notify the Commissioner within ____ days to terminate
an agent's appointment.☑️Correct Ans-30
What is an organization that solicits insurance only to its members?☑️Correct Ans-Fraternal
benefit society
What is NOT a requirement for becoming a licensed agent in Georgia?☑️Correct Ans-high
school graduate
