XCEL: Chapter Exam (Georgia Laws and
Rules)
During the application process, the agent's primary responsibility is to
Correct answers the insurance company
A foreign insurance company doing business in Georgia Correct answers is a
company that was formed under the laws of another state.
In Georgia, an insurer licensed to conduct business in Georgia, but
domiciled in New Jersey, is called a Correct answers foreign company
How often must an insurance agent license be renewed in Georgia?
Correct answers every 2 years
Which of following is considered to be misrepresentation? Correct
answers an agent guaranteeing a policy's dividends
In Georgia, an insurance company must notify the Commissioner within
days
to terminate an agent's appointment. Correct answers 30
Life insurance replacement regulation the interests of Correct answers the
policyowner
A person who is required to be a licensed agent would be a Correct
answers person who places insurance on behalf of anyone seeking
insurance
What is one of the roles of the Commissioner? Correct answers administering
insurance laws
In Georgia, monthly-premium accident and sickness insurance policies must
provide a grace period of at least Correct answers 10 days
An insurance company which engages in boycott, coercion, and intimidation
that results in the unreasonable restraint of trade is committing a prohibited
act under Georgia insurance laws covering Correct answers unfair trade
practices
A mutual insurance company and a stock insurance company have one main
difference between them. What is this major contrast? Correct answers Stock
company is owned by its shareholders. Mutual company by its policyholders
Rules)
During the application process, the agent's primary responsibility is to
Correct answers the insurance company
A foreign insurance company doing business in Georgia Correct answers is a
company that was formed under the laws of another state.
In Georgia, an insurer licensed to conduct business in Georgia, but
domiciled in New Jersey, is called a Correct answers foreign company
How often must an insurance agent license be renewed in Georgia?
Correct answers every 2 years
Which of following is considered to be misrepresentation? Correct
answers an agent guaranteeing a policy's dividends
In Georgia, an insurance company must notify the Commissioner within
days
to terminate an agent's appointment. Correct answers 30
Life insurance replacement regulation the interests of Correct answers the
policyowner
A person who is required to be a licensed agent would be a Correct
answers person who places insurance on behalf of anyone seeking
insurance
What is one of the roles of the Commissioner? Correct answers administering
insurance laws
In Georgia, monthly-premium accident and sickness insurance policies must
provide a grace period of at least Correct answers 10 days
An insurance company which engages in boycott, coercion, and intimidation
that results in the unreasonable restraint of trade is committing a prohibited
act under Georgia insurance laws covering Correct answers unfair trade
practices
A mutual insurance company and a stock insurance company have one main
difference between them. What is this major contrast? Correct answers Stock
company is owned by its shareholders. Mutual company by its policyholders
