Georgia Laws Life insurance
when the commissioner examines an insurer's records, who pays the cost
associated with the examination. Correct answers the insurance company
being examined
which of the following documents must an agent submit to the replacing
insurance company during the replacement of an existing life insurance
policy? Correct answers notice to existing and replacing insurers on
intention to replace
All agents licensed less than 20 Years are required to complete
continuing education hours every two years, Correct answers 24
the coordination of benefits (COB) provision exists in order to Correct
answers avoid duplication of benefit payments
Upon reaching the limiting age, a handicapped child can extend their
health insurance coverage as a dependent Correct answers only if the child
is incapable of employment and chiefly dependent on the policy owner
who owns a stock company? Correct answers its stockholders
using an existing life insurance policy's cash value to purchase another
policy with the same insurer for the sole purpose of earning additional
commissions is called Correct answers churning
Prior to a hearing that could potentially revoke an agent's license, what is
required by the Commissioner? Correct answers giving written notice to
the agent
which organization was established to provide funds to protect an insured
in the event of an insurer's insolvency? Correct answers The Georgia Life
and Health Insurance Guaranty Association
J is an agent who has induced through misrepresentation to surrender
an existing insurance policy. What is J guilty of? Correct answers
Twisting
All accident and sickness plans MUST provide coverage on newborn
children for
days Correct answers 31
life insurance replacement regulation protects the interests of Correct
answers its policyowner
, a person who is required to be a licensed agent would be a(n) Correct
answers a person who places insurance on behalf of anyone seeking
insurance
In Georgia, an insurance company must notify the Commissioner within
days
to terminate an agents appointment Correct answers 30
insurance companies that are organized in countries outside the United
States are referred to as Correct answers alien
Which of the following situations does NOT apply to the Georgia
replacement rule Correct answers an existing policyholder purchases an
additional policy from the same insurer
before an insurance company can pay commissions to an agent, the
agent must be Correct answers licensed and appointed
which of these is not a requirement to obtain an insurance agent license in
the state of Georgia Correct answers Graduate High school
Defamation occurs when an agent makes a false statement intended
to Correct answers Malign another insurer
Who is a mutual insurance company owned by? Correct answers Its
policyholders
under which circumstance may the Commissioner of Insurance suspend,
revoke, or refuse to renew the license of an agent Correct answers agent
is found guilty of misrepresentation in obtaining the license
how often must an insurance agent license be renewed in Georgia
Correct answers every 2 years
As a condition for a loan, a bank requires the borrower to purchase credit
insurance from a specific company. What is the bank guilty of? Correct
answers coercion
the Life and Health Insurance Guaranty Association is Correct answers
funded by admitted insurance companies through assessments
which type of insurance company allows their policy owners to select a
governing body Correct answers mutual
T is an agent and when hired, is reminded that he has a responsibility to
handle clients' funds in an honest and ethical manner. This responsibility is
referred to as Correct answers Fiduciary responsibility
In the state of Georgia, every policyowner must be offered which of
the following Correct answers free-look period
when the commissioner examines an insurer's records, who pays the cost
associated with the examination. Correct answers the insurance company
being examined
which of the following documents must an agent submit to the replacing
insurance company during the replacement of an existing life insurance
policy? Correct answers notice to existing and replacing insurers on
intention to replace
All agents licensed less than 20 Years are required to complete
continuing education hours every two years, Correct answers 24
the coordination of benefits (COB) provision exists in order to Correct
answers avoid duplication of benefit payments
Upon reaching the limiting age, a handicapped child can extend their
health insurance coverage as a dependent Correct answers only if the child
is incapable of employment and chiefly dependent on the policy owner
who owns a stock company? Correct answers its stockholders
using an existing life insurance policy's cash value to purchase another
policy with the same insurer for the sole purpose of earning additional
commissions is called Correct answers churning
Prior to a hearing that could potentially revoke an agent's license, what is
required by the Commissioner? Correct answers giving written notice to
the agent
which organization was established to provide funds to protect an insured
in the event of an insurer's insolvency? Correct answers The Georgia Life
and Health Insurance Guaranty Association
J is an agent who has induced through misrepresentation to surrender
an existing insurance policy. What is J guilty of? Correct answers
Twisting
All accident and sickness plans MUST provide coverage on newborn
children for
days Correct answers 31
life insurance replacement regulation protects the interests of Correct
answers its policyowner
, a person who is required to be a licensed agent would be a(n) Correct
answers a person who places insurance on behalf of anyone seeking
insurance
In Georgia, an insurance company must notify the Commissioner within
days
to terminate an agents appointment Correct answers 30
insurance companies that are organized in countries outside the United
States are referred to as Correct answers alien
Which of the following situations does NOT apply to the Georgia
replacement rule Correct answers an existing policyholder purchases an
additional policy from the same insurer
before an insurance company can pay commissions to an agent, the
agent must be Correct answers licensed and appointed
which of these is not a requirement to obtain an insurance agent license in
the state of Georgia Correct answers Graduate High school
Defamation occurs when an agent makes a false statement intended
to Correct answers Malign another insurer
Who is a mutual insurance company owned by? Correct answers Its
policyholders
under which circumstance may the Commissioner of Insurance suspend,
revoke, or refuse to renew the license of an agent Correct answers agent
is found guilty of misrepresentation in obtaining the license
how often must an insurance agent license be renewed in Georgia
Correct answers every 2 years
As a condition for a loan, a bank requires the borrower to purchase credit
insurance from a specific company. What is the bank guilty of? Correct
answers coercion
the Life and Health Insurance Guaranty Association is Correct answers
funded by admitted insurance companies through assessments
which type of insurance company allows their policy owners to select a
governing body Correct answers mutual
T is an agent and when hired, is reminded that he has a responsibility to
handle clients' funds in an honest and ethical manner. This responsibility is
referred to as Correct answers Fiduciary responsibility
In the state of Georgia, every policyowner must be offered which of
the following Correct answers free-look period
