GA SURPLUS LINES – EXAM PREP EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2026
insurance risk exposures may be defined as either -
ANSWERS-pure risk and speculative risk
which of the following is a statutory defense - ANSWERS-
comparitive negiligence
Which of the following is one of the normal conditions for
procurement of surplus lines license? - ANSWERS-A diligent
effort must be made to place the risk in the authorized
modes first (three attempts)
In Georgia, an individual whose surplus lines license is
REVOKED for cause will not be eligible to apply for another
license for: - ANSWERS-2 years
,Upon placing a surplus line coverage, the broker shall
promptly issue and deliver to the insured evidence of the
insurance consisting of the policy by the insurer or: -
ANSWERS-surplus lines broker certificate
the surplus lines broker shall remit to the commisioner at
the time the broker's quarterly affidavit is submitted: -
ANSWERS-a tax of 4% on all premiums paid or due payable
during the preceeding quarter
Dollar Value Stor has a CGL policy that is written with a
general aggregate limit of $300,000, and an occurrence limit
of $100,000. A customer who was injured on their premises
was awared $45,000 for medical expenses and loss of
earnings and $60,000 for pain an suffering. the court cost
and attorney fees were $15,000. how much will their CGL
policy pay? - ANSWERS-$115,000 ($100k occurrence plus
$15k in defense)
Each surplus lines broker shall file with the commissioner on
a quarterly basis an affidavit and taxes on or before the: -
ANSWERS-15th day of April, July, October, January
think 4/1, 7/1, 10/1, 1/1
, an action shall be brought against any unauthorized insurer
under any contract issued by it as a surplus lines contract in
the: - ANSWERS-superior court of the county in which the
cause of action arose
notice of a hearing on alleged unfair trade practice must be
served at least how many days before the hearing may be
held - ANSWERS-15 days
what procedure is prescribed by the standard fire policy
when the insured and the insurer cannot agree upon the
amount of a loss - ANSWERS-each party selects an appraiser
who in turn selects an umpire. these three determine the
amount of loss
an insured falsely reports the theft of a valuable item in
order to collect payment for the insurance policy -
ANSWERS-fraud
concerning prohibited practices, illegal inducements would
include all of the following except - ANSWERS-a) reducing an
insureds premium due to differences in hazards
b) to give a special dividend under the contract
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+ 2026
insurance risk exposures may be defined as either -
ANSWERS-pure risk and speculative risk
which of the following is a statutory defense - ANSWERS-
comparitive negiligence
Which of the following is one of the normal conditions for
procurement of surplus lines license? - ANSWERS-A diligent
effort must be made to place the risk in the authorized
modes first (three attempts)
In Georgia, an individual whose surplus lines license is
REVOKED for cause will not be eligible to apply for another
license for: - ANSWERS-2 years
,Upon placing a surplus line coverage, the broker shall
promptly issue and deliver to the insured evidence of the
insurance consisting of the policy by the insurer or: -
ANSWERS-surplus lines broker certificate
the surplus lines broker shall remit to the commisioner at
the time the broker's quarterly affidavit is submitted: -
ANSWERS-a tax of 4% on all premiums paid or due payable
during the preceeding quarter
Dollar Value Stor has a CGL policy that is written with a
general aggregate limit of $300,000, and an occurrence limit
of $100,000. A customer who was injured on their premises
was awared $45,000 for medical expenses and loss of
earnings and $60,000 for pain an suffering. the court cost
and attorney fees were $15,000. how much will their CGL
policy pay? - ANSWERS-$115,000 ($100k occurrence plus
$15k in defense)
Each surplus lines broker shall file with the commissioner on
a quarterly basis an affidavit and taxes on or before the: -
ANSWERS-15th day of April, July, October, January
think 4/1, 7/1, 10/1, 1/1
, an action shall be brought against any unauthorized insurer
under any contract issued by it as a surplus lines contract in
the: - ANSWERS-superior court of the county in which the
cause of action arose
notice of a hearing on alleged unfair trade practice must be
served at least how many days before the hearing may be
held - ANSWERS-15 days
what procedure is prescribed by the standard fire policy
when the insured and the insurer cannot agree upon the
amount of a loss - ANSWERS-each party selects an appraiser
who in turn selects an umpire. these three determine the
amount of loss
an insured falsely reports the theft of a valuable item in
order to collect payment for the insurance policy -
ANSWERS-fraud
concerning prohibited practices, illegal inducements would
include all of the following except - ANSWERS-a) reducing an
insureds premium due to differences in hazards
b) to give a special dividend under the contract
