Georgia insurance UPDATED ACTUAL
Exam Questions and CORRECT Answers
With whom may an agent legally share commissions - CORRECT ANSWER - another agent
who is licensed in the same line of insurance
In Georgia, monthly premium accident and sickness insurance policies must provide a grace
period of at least - CORRECT ANSWER - 10 days
In Georgia, an example of an alien insurer would be one that is incorporated in - CORRECT
ANSWER - france
Under which circumstances may the commissioner of insurance suspend, revoke, or refuse to
renew the license of an agent - CORRECT ANSWER - agent is found guilty of
misrepresentation in obtaining the license
Who owns a stock company - CORRECT ANSWER - its stockholders
Upon reaching the limiting age, a handicapped child can extend their accident and sickness
insurance coverage as dependent - CORRECT ANSWER - only if the child is incapable of
employment and chiefly dependent on the policy owner
All accident and sickness plans must provide coverage on newborn children for __ days -
CORRECT ANSWER - 31 days
In the state of Georgia, every policy owner must be offered which of the following - CORRECT
ANSWER - free-look period
Why would the commissioner examine an insurers records - CORRECT ANSWER - to
determine the solvency of the company
, Life insurance replacement regulation protects the interest of - CORRECT ANSWER - the
policy owner
In Georgia, how long is the "free-look" period? - CORRECT ANSWER - 10 days
In Georgia, an accident and sickness policy that is paid on quarterly basis requires a grace period
of - CORRECT ANSWER - 31 days
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share
of stock - CORRECT ANSWER - misrepresentation
Which type of insurance company allows their policy owners to elect a governing body -
CORRECT ANSWER - mutual
An agent must have __ hours or ethics per continuing education reporting period - CORRECT
ANSWER - 3
An insurance agent is guilty of __ if the agent misrepresents a policy to induce a policy owner to
surrender an existing policy. - CORRECT ANSWER - twisting
An example of rebating would be - CORRECT ANSWER - offering a client something of
value not stated in the contract in exchange for their business
Convincing a prospective insured to buy an insurance policy based on exaggerations is called -
CORRECT ANSWER - misrepresentation
Which of the following documents must an agent submit to the replacing insurance company
during the replacement of an existing life insurance party - CORRECT ANSWER - notice to
existing and replacing insurers to intention to replace
Exam Questions and CORRECT Answers
With whom may an agent legally share commissions - CORRECT ANSWER - another agent
who is licensed in the same line of insurance
In Georgia, monthly premium accident and sickness insurance policies must provide a grace
period of at least - CORRECT ANSWER - 10 days
In Georgia, an example of an alien insurer would be one that is incorporated in - CORRECT
ANSWER - france
Under which circumstances may the commissioner of insurance suspend, revoke, or refuse to
renew the license of an agent - CORRECT ANSWER - agent is found guilty of
misrepresentation in obtaining the license
Who owns a stock company - CORRECT ANSWER - its stockholders
Upon reaching the limiting age, a handicapped child can extend their accident and sickness
insurance coverage as dependent - CORRECT ANSWER - only if the child is incapable of
employment and chiefly dependent on the policy owner
All accident and sickness plans must provide coverage on newborn children for __ days -
CORRECT ANSWER - 31 days
In the state of Georgia, every policy owner must be offered which of the following - CORRECT
ANSWER - free-look period
Why would the commissioner examine an insurers records - CORRECT ANSWER - to
determine the solvency of the company
, Life insurance replacement regulation protects the interest of - CORRECT ANSWER - the
policy owner
In Georgia, how long is the "free-look" period? - CORRECT ANSWER - 10 days
In Georgia, an accident and sickness policy that is paid on quarterly basis requires a grace period
of - CORRECT ANSWER - 31 days
Which Unfair Trade Practice involves an agent suggesting that an insurance policy is like a share
of stock - CORRECT ANSWER - misrepresentation
Which type of insurance company allows their policy owners to elect a governing body -
CORRECT ANSWER - mutual
An agent must have __ hours or ethics per continuing education reporting period - CORRECT
ANSWER - 3
An insurance agent is guilty of __ if the agent misrepresents a policy to induce a policy owner to
surrender an existing policy. - CORRECT ANSWER - twisting
An example of rebating would be - CORRECT ANSWER - offering a client something of
value not stated in the contract in exchange for their business
Convincing a prospective insured to buy an insurance policy based on exaggerations is called -
CORRECT ANSWER - misrepresentation
Which of the following documents must an agent submit to the replacing insurance company
during the replacement of an existing life insurance party - CORRECT ANSWER - notice to
existing and replacing insurers to intention to replace
