Georgia Laws And Rules Exam Questions
With Correct Answers Graded A+
In Georgia, which of the following statements is CORRECT about life insurance
advertisements?☑️Correct Ans-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☑️Correct Ans-
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☑️Correct Ans-
12 Months
An insurance agent is guilty of___ if the agent misrepresents a policy to induce a policyowner to
surrender an existing policy.☑️Correct Ans-twisting
A domestic insurance company in Georgia is considered a company that☑️Correct Ans-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☑️Correct Ans-fiduciary
responsibility
An agent would be guilty of rebating by☑️Correct Ans-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☑️Correct Ans-
Churning
An agent must have ___ hours of ethics per continuing education reporting period☑️Correct
Ans-3
Convincing a prospective insured to buy an insurance policy based on exaggerations is
called☑️Correct Ans-misrepresentation
In Georgia, which of the following is considered an Unfair Trade Practice☑️Correct Ans-
Coercion
In the state of Georgia, every policyowner must be offered which of the following☑️Correct
Ans-free-look period
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
Under which circumstance may the Commissioner of Insurance suspend, revoke, or refuse to
renew the license of an agent☑️Correct Ans-Agent is found guilty of misrepresentation in
obtaining the license
An example of an unfair claims settlement practice is☑️Correct Ans-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☑️Correct Ans-A signed statement by the applicant regarding the
replacement
A producer must notify the Commissioner within___ days of an address change☑️Correct Ans-
30
With Correct Answers Graded A+
In Georgia, which of the following statements is CORRECT about life insurance
advertisements?☑️Correct Ans-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☑️Correct Ans-
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☑️Correct Ans-
12 Months
An insurance agent is guilty of___ if the agent misrepresents a policy to induce a policyowner to
surrender an existing policy.☑️Correct Ans-twisting
A domestic insurance company in Georgia is considered a company that☑️Correct Ans-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☑️Correct Ans-fiduciary
responsibility
An agent would be guilty of rebating by☑️Correct Ans-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☑️Correct Ans-
Churning
An agent must have ___ hours of ethics per continuing education reporting period☑️Correct
Ans-3
Convincing a prospective insured to buy an insurance policy based on exaggerations is
called☑️Correct Ans-misrepresentation
In Georgia, which of the following is considered an Unfair Trade Practice☑️Correct Ans-
Coercion
In the state of Georgia, every policyowner must be offered which of the following☑️Correct
Ans-free-look period
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
Under which circumstance may the Commissioner of Insurance suspend, revoke, or refuse to
renew the license of an agent☑️Correct Ans-Agent is found guilty of misrepresentation in
obtaining the license
An example of an unfair claims settlement practice is☑️Correct Ans-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☑️Correct Ans-A signed statement by the applicant regarding the
replacement
A producer must notify the Commissioner within___ days of an address change☑️Correct Ans-
30
