GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
J is issued a Life insurance policy with a death benefit of $100,000.
She pays $600 per year in premium for the first 5 years. The
premium then increases to $900 per year in the sixth year, and
remains level thereafter. The policy’s death benefit also remains at
$100,000.Which type of Life Insurance policy is this?
Modified Premium Life
Which of the following BEST describes how pre-admission
certification is used?
Used to prevent nonessential medical costs
F needs life insurance that provides coverage for only a limited
amount of time with a death benefit that changes regularly
according to a schedule. What kind of policy is needed?
Decreasing term policy
J let her insurance policy lapse 8 months ago due to nonpayment.
She can reestablish coverage under which of the following
provisions?
Reinstatement provision
Under a Guaranteed Renewable health insurance policy, the insurer
May cancel the policy for nonpayment only
END OF
PAGE
1
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Upon delivery of a rated life insurance policy, the Producer must
obtain each of the following EXCEPT:
Signed HIPAA disclosure
In Georgia, which of the following is considered an Unfair Trade
Practice?
Coercion
A Limited-Pay Life policy has:
Premium payments limited to a specified number of years
Which of these types of life insurance allows the policyowner to have
level premiums and to also choose from a selection of investment
options?
Variable Life
A potential client, age 40, would like to purchase a Whole Life policy
that will accumulate cash value at a faster rate in the early years of
the policy. Which of these statements made by the producer would
be correct?
20-Pay Life accumulates cash value faster than Straight Life
When a misrepresentation on a life insurance policy application is
discovered, what action may an insurance company take?
END OF
PAGE
2
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Void the policy only if it is discovered during the Contestable period and
proven to be material
Which policy requires an agent to register with the National
Association of Securities Dealers (NASD) before selling?
Variable Life
This type of deductible provision waives the deductible for all family
members after some of them have satisfied individual deductibles
within the same year:
Family maximum deductible
K applies for a life insurance policy on herself and submits the
initial premium with the application. She is given a receipt by the
agent stating that coverage begins immediately if the application is
approved. What kind of receipt was used?
Conditional
An accident policy will most likely pay a benefit for a(n):
Off-the-job accident
Which Accident and Health policy provision addresses preexisting
conditions?
Time Limit on Certain Defenses
END OF
PAGE
3
HEALTH INSURANCE
EXAM
J is issued a Life insurance policy with a death benefit of $100,000.
She pays $600 per year in premium for the first 5 years. The
premium then increases to $900 per year in the sixth year, and
remains level thereafter. The policy’s death benefit also remains at
$100,000.Which type of Life Insurance policy is this?
Modified Premium Life
Which of the following BEST describes how pre-admission
certification is used?
Used to prevent nonessential medical costs
F needs life insurance that provides coverage for only a limited
amount of time with a death benefit that changes regularly
according to a schedule. What kind of policy is needed?
Decreasing term policy
J let her insurance policy lapse 8 months ago due to nonpayment.
She can reestablish coverage under which of the following
provisions?
Reinstatement provision
Under a Guaranteed Renewable health insurance policy, the insurer
May cancel the policy for nonpayment only
END OF
PAGE
1
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Upon delivery of a rated life insurance policy, the Producer must
obtain each of the following EXCEPT:
Signed HIPAA disclosure
In Georgia, which of the following is considered an Unfair Trade
Practice?
Coercion
A Limited-Pay Life policy has:
Premium payments limited to a specified number of years
Which of these types of life insurance allows the policyowner to have
level premiums and to also choose from a selection of investment
options?
Variable Life
A potential client, age 40, would like to purchase a Whole Life policy
that will accumulate cash value at a faster rate in the early years of
the policy. Which of these statements made by the producer would
be correct?
20-Pay Life accumulates cash value faster than Straight Life
When a misrepresentation on a life insurance policy application is
discovered, what action may an insurance company take?
END OF
PAGE
2
, GEORGIA LIFE AND LATEST
HEALTH INSURANCE
EXAM
Void the policy only if it is discovered during the Contestable period and
proven to be material
Which policy requires an agent to register with the National
Association of Securities Dealers (NASD) before selling?
Variable Life
This type of deductible provision waives the deductible for all family
members after some of them have satisfied individual deductibles
within the same year:
Family maximum deductible
K applies for a life insurance policy on herself and submits the
initial premium with the application. She is given a receipt by the
agent stating that coverage begins immediately if the application is
approved. What kind of receipt was used?
Conditional
An accident policy will most likely pay a benefit for a(n):
Off-the-job accident
Which Accident and Health policy provision addresses preexisting
conditions?
Time Limit on Certain Defenses
END OF
PAGE
3
