Georgia insurance laws Exam Study
Guide Solutions
A temporary agent may: - ANSWER✔✔-Continue existing business but
not sell new policies.
Premium rates that are so low that they tend to destroy competition by
creating a monopoly are referred to under Georgia insurance laws as: -
ANSWER✔✔-Inadequate
An agent cannot hold a license for the purpose of buying insurance at a
discount for the agent or associates. Such insurance is referred to as
"controlled business" if it constitutes more than what percentage of the
agent's total volume of business per year? - ANSWER✔✔-15%
Which of the following are required to be covered by work comp? -
ANSWER✔✔-restaurant employees
Under Georgia insurance laws, a person who sells insurance for a licensed
agent is known as a/an? - ANSWER✔✔-subagent
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,In the area of auto insurance, the residual market is intended to provide
insurance for the: - ANSWER✔✔-worst drivers
Each of the following will satisfy the Commissioner's requirement for a
place of business: - ANSWER✔✔-- an office in a shopping mall
- an office in another business, such as a real estate office
-a home office
An agent's appointment letter may be revoked by the: - ANSWER✔✔-
insurer
Licensees must keep copies of all records for: - ANSWER✔✔-5 years
The Commissioner may suspend or revoke an Agent's license for all of the
following: - ANSWER✔✔-- having been convicted of a felony
- failing to comply with a commissioner order
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, - using fraudulent information while conducting insurance business
An auto policy may be cancelled due to each of the following involving an
Insured within the prior 36 months: - ANSWER✔✔-- criminal negligence
resulting in an accident that kills someone
- drug addiction
-drunk driving
Paying a person an inducement to purchase insurance is called: -
ANSWER✔✔-rebating
Each of the following is a method of satisfying the Georgia Motor Vehicle
Reparations Act - ANSWER✔✔-- auto liability insurance
- a certificate of self-insurance
- surety bond
Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 3/21
Guide Solutions
A temporary agent may: - ANSWER✔✔-Continue existing business but
not sell new policies.
Premium rates that are so low that they tend to destroy competition by
creating a monopoly are referred to under Georgia insurance laws as: -
ANSWER✔✔-Inadequate
An agent cannot hold a license for the purpose of buying insurance at a
discount for the agent or associates. Such insurance is referred to as
"controlled business" if it constitutes more than what percentage of the
agent's total volume of business per year? - ANSWER✔✔-15%
Which of the following are required to be covered by work comp? -
ANSWER✔✔-restaurant employees
Under Georgia insurance laws, a person who sells insurance for a licensed
agent is known as a/an? - ANSWER✔✔-subagent
Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 1/21
,In the area of auto insurance, the residual market is intended to provide
insurance for the: - ANSWER✔✔-worst drivers
Each of the following will satisfy the Commissioner's requirement for a
place of business: - ANSWER✔✔-- an office in a shopping mall
- an office in another business, such as a real estate office
-a home office
An agent's appointment letter may be revoked by the: - ANSWER✔✔-
insurer
Licensees must keep copies of all records for: - ANSWER✔✔-5 years
The Commissioner may suspend or revoke an Agent's license for all of the
following: - ANSWER✔✔-- having been convicted of a felony
- failing to comply with a commissioner order
Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 2/21
, - using fraudulent information while conducting insurance business
An auto policy may be cancelled due to each of the following involving an
Insured within the prior 36 months: - ANSWER✔✔-- criminal negligence
resulting in an accident that kills someone
- drug addiction
-drunk driving
Paying a person an inducement to purchase insurance is called: -
ANSWER✔✔-rebating
Each of the following is a method of satisfying the Georgia Motor Vehicle
Reparations Act - ANSWER✔✔-- auto liability insurance
- a certificate of self-insurance
- surety bond
Copyright ©EMILLYCHARLOTE 2025 ACADEMIC YEAR, ALL RIGHTS RESERVED. Page 3/21
