PROPERTY AND CASUALTY INSURANCE
GA EXAM COMPREHENSIVE REVIEW
GUIDE WITH FULL SOLUTION GRADED A
⩥ the guaranty fund provides coverage for unpaid health insurance
claims up to:. Answer: $300,000
⩥ the commissioner may:. Answer: fine a Producer $10,000 for violating
a Cease and Desist order
⩥ the commissioner must inspect the records of a domestic property or
life insurance company Every:. Answer: 3 years
⩥ an insurer may pay commissions directly to the agency rather than to
the agents only if:. Answer: each person who sells insurance is a licensed
agent
⩥ the commissioner may issue cease and desist orders:. Answer: when
any insurance company or agent violates insurance laws
⩥ the commissioner has the authority to do the following EXCEPT:.
Answer: regulate insurance proffits
,⩥ FAIR Plan policies:. Answer: are issued by the Plan rather than by
private insurers
⩥ under Georgia's Guaranty Fund System, if a work comp insurer is
insolvent, claims will be covered up to a maximum of:. Answer: no limit
⩥ premium rates that are unreasonably low are referred to:. Answer:
inadequate
⩥ workers compensation insurance premium rates are:. Answer: set by
the individual insurance Work Comp insurance companies.
⩥ when public employees are concerned that motor vehicle accidents
occurring while they are driving government vehicles may be used as a
basis for auto insurers to increase the rates under the individuals:.
Answer: state employees driving highway maintenance vehicles
⩥ a producer may share commission with:. Answer: Resident producer
⩥ Terry is a Georgia insurance agent. she has received an application for
coverage on a single-family home. her client has submitted an
application with a premium. which of the following is correct?. Answer:
Terry may issue a binder to provide temporary coverage for up to 90
days
, ⩥ defamation involves making false statements about the financial
conditions of:. Answer: any insurer
⩥ each of the following is a method of satisfying the Georgia Motor
Vehicle Reparations Act EXCEPT:. Answer: a letter from a certified
public accountant attesting to the individual
⩥ under Georgia insurance laws, the agent is presumed to represent the.
Answer: insurer
⩥ a Georgia property insurer is going to cancel an insured policy. the
notice of the cancellation must provide how many days advance notice
that the property may be eligible for coverage under the FAIR plan?.
Answer: 30
⩥ to be eligible for a resident agent license, and applicant must be
present in Georgia. Answer: at least 6 months per year
⩥ When the Guaranty (Insolvency) Fund pays claims, the Fund is
replenished by:. Answer: an assessment against the remaining insurers'
premiums
⩥ which of the following may subpoena witness and document at a
hearing?. Answer: both the commissioner and the affected party
GA EXAM COMPREHENSIVE REVIEW
GUIDE WITH FULL SOLUTION GRADED A
⩥ the guaranty fund provides coverage for unpaid health insurance
claims up to:. Answer: $300,000
⩥ the commissioner may:. Answer: fine a Producer $10,000 for violating
a Cease and Desist order
⩥ the commissioner must inspect the records of a domestic property or
life insurance company Every:. Answer: 3 years
⩥ an insurer may pay commissions directly to the agency rather than to
the agents only if:. Answer: each person who sells insurance is a licensed
agent
⩥ the commissioner may issue cease and desist orders:. Answer: when
any insurance company or agent violates insurance laws
⩥ the commissioner has the authority to do the following EXCEPT:.
Answer: regulate insurance proffits
,⩥ FAIR Plan policies:. Answer: are issued by the Plan rather than by
private insurers
⩥ under Georgia's Guaranty Fund System, if a work comp insurer is
insolvent, claims will be covered up to a maximum of:. Answer: no limit
⩥ premium rates that are unreasonably low are referred to:. Answer:
inadequate
⩥ workers compensation insurance premium rates are:. Answer: set by
the individual insurance Work Comp insurance companies.
⩥ when public employees are concerned that motor vehicle accidents
occurring while they are driving government vehicles may be used as a
basis for auto insurers to increase the rates under the individuals:.
Answer: state employees driving highway maintenance vehicles
⩥ a producer may share commission with:. Answer: Resident producer
⩥ Terry is a Georgia insurance agent. she has received an application for
coverage on a single-family home. her client has submitted an
application with a premium. which of the following is correct?. Answer:
Terry may issue a binder to provide temporary coverage for up to 90
days
, ⩥ defamation involves making false statements about the financial
conditions of:. Answer: any insurer
⩥ each of the following is a method of satisfying the Georgia Motor
Vehicle Reparations Act EXCEPT:. Answer: a letter from a certified
public accountant attesting to the individual
⩥ under Georgia insurance laws, the agent is presumed to represent the.
Answer: insurer
⩥ a Georgia property insurer is going to cancel an insured policy. the
notice of the cancellation must provide how many days advance notice
that the property may be eligible for coverage under the FAIR plan?.
Answer: 30
⩥ to be eligible for a resident agent license, and applicant must be
present in Georgia. Answer: at least 6 months per year
⩥ When the Guaranty (Insolvency) Fund pays claims, the Fund is
replenished by:. Answer: an assessment against the remaining insurers'
premiums
⩥ which of the following may subpoena witness and document at a
hearing?. Answer: both the commissioner and the affected party
