GEORGIA LIFE INSURANCE STUDY EXAM
2026 COMPLETE PRACTICE QUESTIONS
AND CORRECT ANSWERS WITH DETAILED
EXPLANATIONS GEORGIA LIFE
INSURANCE PRODUCER LICENSING EXAM
STUDY GUIDE GRADE A+ 2026 EDITION
A prospect's statements made in the application for insurance constitute a
part of which of the following? - CORRECT ANSWER -Consideration Clause
Once completed and signed by the applicant, a producer may change an
application: - CORRECT ANSWER -If the applicant initials the change
If an existing client of a producer wants to buy another Life insurance
policy, the producer should: - CORRECT ANSWER -Have the customer come
in and complete and sign a new application
Which federal law governs consumer investigative reports: - CORRECT
ANSWER -Fair Credit Reporting Act
A producer sends a completed and signed application along with the check
for the initial premium to the underwriter, who notices that the applicant
forgot to sign the check. When would coverage start? - CORRECT ANSWER -
When the producer delivers the policy and picks up a signed check along
with a Statement of Continued Good Health
,All of the following are a part of a Life insurance policy, EXCEPT the: -
CORRECT ANSWER -Conditional Receipt
With proper notice and authorization, insurers may report underwriting
information that an applicant lists on their application for Life insurance to
the: - CORRECT ANSWER -Medical Information Bureau (MIB)
When giving a client a conditional receipt, which of the following is true? -
CORRECT ANSWER -The coverage will begin at earliest as of the date of
application or when the client passes a physical, whichever is later
A producer takes an application from a proposed insured without receiving
payment of the first premium. The insurance company issues the policy
and, when the producer visits the proposed insured to deliver it, she
realizes that the health of the applicant has deteriorated significantly since
the application was taken. The producer should: - CORRECT ANSWER -
Refuse to deliver the policy or to accept any premium offered
Albert Metz, who has $2,000 of Group Life insurance, has just terminated
his employment. Mr. Metz has how many days in which to convert his
group coverage to individual coverage? - CORRECT ANSWER -31
When a company requires that their employees pay part of the premium for
the Group Life insurance coverage, it is known as a ___________ group: -
CORRECT ANSWER -Contributory
, Albert Metz, who has $2,000 of Group Life insurance, has just terminated
his employment.The maximum amount that Mr. Metz will be able to
convert is which of the following? - CORRECT ANSWER -$2,000
A parent who wishes to have complete control of their son's life insurance
policy until the son reaches age 25 can do so through the use of which of the
following? - CORRECT ANSWER -Ownership provision
Tim Watson wants to obtain a Life insurance policy on his employee, Mike
Carson, and to name Mike's wife, Deborah Carson, as the beneficiary.
Signatures of which of the following would be legally required on the
application?
I. Tim Watson
II. Mike Carson
III. Deborah Carson - CORRECT ANSWER -I and II
A Life insurance policy of which the cash value is over-funded according to
IRS rules is known as: - CORRECT ANSWER -A Modified Endowment
Contract
A client with a participating Life insurance policy receives both interest and
dividends. What are the tax implications? - CORRECT ANSWER -The
interest is taxable, but the dividends are not
Which of the following statements is true about a policy assignment? -
CORRECT ANSWER -It transfers the owner's rights under the policy to the
extent expressed in the assignment form
2026 COMPLETE PRACTICE QUESTIONS
AND CORRECT ANSWERS WITH DETAILED
EXPLANATIONS GEORGIA LIFE
INSURANCE PRODUCER LICENSING EXAM
STUDY GUIDE GRADE A+ 2026 EDITION
A prospect's statements made in the application for insurance constitute a
part of which of the following? - CORRECT ANSWER -Consideration Clause
Once completed and signed by the applicant, a producer may change an
application: - CORRECT ANSWER -If the applicant initials the change
If an existing client of a producer wants to buy another Life insurance
policy, the producer should: - CORRECT ANSWER -Have the customer come
in and complete and sign a new application
Which federal law governs consumer investigative reports: - CORRECT
ANSWER -Fair Credit Reporting Act
A producer sends a completed and signed application along with the check
for the initial premium to the underwriter, who notices that the applicant
forgot to sign the check. When would coverage start? - CORRECT ANSWER -
When the producer delivers the policy and picks up a signed check along
with a Statement of Continued Good Health
,All of the following are a part of a Life insurance policy, EXCEPT the: -
CORRECT ANSWER -Conditional Receipt
With proper notice and authorization, insurers may report underwriting
information that an applicant lists on their application for Life insurance to
the: - CORRECT ANSWER -Medical Information Bureau (MIB)
When giving a client a conditional receipt, which of the following is true? -
CORRECT ANSWER -The coverage will begin at earliest as of the date of
application or when the client passes a physical, whichever is later
A producer takes an application from a proposed insured without receiving
payment of the first premium. The insurance company issues the policy
and, when the producer visits the proposed insured to deliver it, she
realizes that the health of the applicant has deteriorated significantly since
the application was taken. The producer should: - CORRECT ANSWER -
Refuse to deliver the policy or to accept any premium offered
Albert Metz, who has $2,000 of Group Life insurance, has just terminated
his employment. Mr. Metz has how many days in which to convert his
group coverage to individual coverage? - CORRECT ANSWER -31
When a company requires that their employees pay part of the premium for
the Group Life insurance coverage, it is known as a ___________ group: -
CORRECT ANSWER -Contributory
, Albert Metz, who has $2,000 of Group Life insurance, has just terminated
his employment.The maximum amount that Mr. Metz will be able to
convert is which of the following? - CORRECT ANSWER -$2,000
A parent who wishes to have complete control of their son's life insurance
policy until the son reaches age 25 can do so through the use of which of the
following? - CORRECT ANSWER -Ownership provision
Tim Watson wants to obtain a Life insurance policy on his employee, Mike
Carson, and to name Mike's wife, Deborah Carson, as the beneficiary.
Signatures of which of the following would be legally required on the
application?
I. Tim Watson
II. Mike Carson
III. Deborah Carson - CORRECT ANSWER -I and II
A Life insurance policy of which the cash value is over-funded according to
IRS rules is known as: - CORRECT ANSWER -A Modified Endowment
Contract
A client with a participating Life insurance policy receives both interest and
dividends. What are the tax implications? - CORRECT ANSWER -The
interest is taxable, but the dividends are not
Which of the following statements is true about a policy assignment? -
CORRECT ANSWER -It transfers the owner's rights under the policy to the
extent expressed in the assignment form
