Georgia Laws, Rules, and regulations Pertinent to Life and Accident and Sickness Insurance Exam Questions and Answers 100% Pass

Georgia Laws, Rules, and regulations Pertinent to Life and Accident and Sickness Insurance Exam Questions and Answers 100% Pass 5 Years - Correct Answer ️️ -The period of time in which the Commissioner must conduct an examination of every authorized insurer 20 Days - Correct Answer ️️ -Time frame for the Commissioner to provide the examinee a copy of the written report 10 Days - Correct Answer ️️ -written notice to all interested parties 30 Days - Correct Answer ️️ -The hearing must be held no later than ___ days after the request was received Parties may request a hearing within ____ days The Commissioner must make an order on the hearing within ____ days $2,000 - Correct Answer ️️ -Maximum fine for each nonwillful insurance code violation $5,000 - Correct Answer ️️ -Maximum fine for each willful insurance code violation $10,000 - Correct Answer ️️ -Maximum fine for violation a cease and desist order Felony - Correct Answer ️️ -Insurance fraud Maximum fine for insurance fraud - Correct Answer ️️ -$10,000 2 Years - Correct Answer ️️ -Minimum prison time in addition to the $10,000 fine 10 Years - Correct Answer ️️ -Maximum prison time in addition to the $10,000 fine 3 Days - Correct Answer ️️ -___ days notice required to temporarily suspend a license, if emergency action is needed The Association's maximum liability for any one life is as follows - Correct Answer ️️ - $300,000 Life Insurance Death Benefits - Correct Answer ️️ -$100,000 Life Insurance Net Cash Surrender and Withdrawals Value - Correct Answer ️️ - $300,000 Present Value of Annuity Benefits - Correct Answer ️️ -$300,000 Health Insurance Benefits not Otherwise Define - Correct Answer ️️ -$300,000 Disability Insurance - Correct Answer ️️ -$300,000 Long-Term Care Insurance - Correct Answer ️️ -$300,000 Basic Hospital, Medical, and Surgical Insurance or Major Medical Insurance - Correct Answer ️️ -$500,000 Producers must report name or address changes within - Correct Answer ️️ -30 days Applicant's Minimum Age - Correct Answer ️️ -18 Applicants must complete ___ hours of prelicensing education per line of authority - Correct Answer ️️ -20 hours Pass the licensing exam with a score of at least ___% - Correct Answer ️️ -70% 90 Days - Correct Answer ️️ -Nonresident producers moving to Georgia have this long to establish themselves as a resident producer (without taking Georgia prelincensing education or insurance exam) Insurers must renew their agents' certificates of authority - Correct Answ