Georgia Life and Health Insurance Exam Practice
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1. Insurance spreads the financial burden of an individ- B. a group of insureds
ual's loss to
2. Where does a domestic insurer have its home office B. In any state in the U.S.
3. The maximum benefit a policy will pay categorized as A. per cause limit
any of the following except
4. An employer pays all of the premium for key person 100%
disability income insurance. What percentage of this
can the employer deduct as a business expense?
5. The provision in health insurance policies states that D. Entire Contract
both the printed contract and a copy of the applica-
tions for the contract between the policy owner and
the insurer are called
6. Which of the following would have the smallest C. Annually Renewable
first-year premium payment? Term
7. First-year commission on a Medicare supplement pol- A. 200% of the 2nd year
icy may not exceed commission on the same
A. 200% of the 2nd year commission on the same policy
policy
B. 100% of the other commission from the other poli-
cies for that year
C. 100% of the 2nd year commission on the same
policy
D. 200% of all the other commission from the other
policies from that year
8. Where must an insurer's home office be located for it C. In another country
to be considered an alien insurer
, Georgia Life and Health Insurance Exam Practice
Study online at https://quizlet.com/_ffirzz
A. In more than one state
B. In this state
C. In another country
D. In another state
9. Annuities can be purchased for all the following rea- D. To liquidate an estate
sons except
A. To accumulate retirement funds
B. To fund a child's education
C. To create an immediate estate
D. To liquidate an estate
10. In the replacement of a Medicare supplement insur- Both the applicant and the
ance policy, who must sign the notice regarding re- agent
placement?
11. The assignment clause in a life insurance policy allows Transfer policy rights to
the policy owner to don which of the following? another person
12. A nonresident agent moved from one state to another. 30 Days
How soon thereafter should the agent file a change of
address and provide a certificate from the new state?
13. An insured would like to reactivate a life insurance D. Reinstatement
policy that lapsed 2 years ago by paying all the
missed premiums and providing evidence of insura-
bility. Which provision allows the insured to do this?
14. Term insurance provides coverage for specified period of time
15. Which of the following is true regarding guaranteed They must be renewed if
renewable health insurance policies? the insured pays the pre-
mium
, Georgia Life and Health Insurance Exam Practice
Study online at https://quizlet.com/_ffirzz
16. After a loss, an insured requests claims forms but has Names of the other insur-
not received them. To fulfill notice of claim require- ers with whom the insured
ments, the insured can also submit, in writing, all of has filled claim.
the following except
17. Under a universal life insurance policy, the policyown- Adjustable Premium and
ers have a choice between what two types of premi- Target Premium
ums?
18. The primary beneficiary of her husband's life insur- The beneficiary
ance policy found that no settlement options were
stated in the policy on the date of her husband's
death. Who will select the settlement option in this
case?
19. Which of the following would be tax free? Death benefit received in a
lump sum settlement
20. If a settlement option is not selected on a life insur- In a single cash payment
ance policy, how will the benefits be distributed?
21. Under which installment option does the annuitant Fixed Amount
select the amount of each payment, and the insurer
determines how long they will pay benefits?
22. Which of the following mandatory health provisions Proof of loss
states the specified number of days given to an in-
sured to return the completed claims forms to the
insurance company?
23. If an insurer makes a statement misrepresentation or Twisting
incompletely comparing the terms of any insurance
, Georgia Life and Health Insurance Exam Practice
Study online at https://quizlet.com/_ffirzz
policy to induce a policyholder to drop existing policy,
what unfair practice has occurred?
24. What is the maximum number of employees that a 50
company can have in order to legally be defined as a
small group?
25. Which of the following disability riders in life insurance Waiver of Premium
allows the policy owner to keep coverage in force with-
out paying policy premiums after a qualifying event?
26. An insured submits the full premium along with Upon the date the policy
a completed application. Once the policy is issued, was issued
when does the coverage begin?
27. What clauses stipulate that if an insured and the pri- Common disaster clause
mary beneficiary die as a result of the same incident,
the benefits will be paid out as if the primary benefi-
ciary has died first?
28. Which of the following is not considered a rebate? D. Offering a prospective
A. Returning part of the premium of the insured as a insured a multi-policy dis-
thank you for buying insurance count
B. Giving prospective insureds $100 gift cards in re-
turn for buying a policy
C. Any inducement to buy that is not stated in the
policy
D. Offering a prospective insured a multi-policy dis-
count
29. In a group health insurance policy, which of the follow- B. Employer
ing would be issued as the master policy
A. A Health Care provider
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1. Insurance spreads the financial burden of an individ- B. a group of insureds
ual's loss to
2. Where does a domestic insurer have its home office B. In any state in the U.S.
3. The maximum benefit a policy will pay categorized as A. per cause limit
any of the following except
4. An employer pays all of the premium for key person 100%
disability income insurance. What percentage of this
can the employer deduct as a business expense?
5. The provision in health insurance policies states that D. Entire Contract
both the printed contract and a copy of the applica-
tions for the contract between the policy owner and
the insurer are called
6. Which of the following would have the smallest C. Annually Renewable
first-year premium payment? Term
7. First-year commission on a Medicare supplement pol- A. 200% of the 2nd year
icy may not exceed commission on the same
A. 200% of the 2nd year commission on the same policy
policy
B. 100% of the other commission from the other poli-
cies for that year
C. 100% of the 2nd year commission on the same
policy
D. 200% of all the other commission from the other
policies from that year
8. Where must an insurer's home office be located for it C. In another country
to be considered an alien insurer
, Georgia Life and Health Insurance Exam Practice
Study online at https://quizlet.com/_ffirzz
A. In more than one state
B. In this state
C. In another country
D. In another state
9. Annuities can be purchased for all the following rea- D. To liquidate an estate
sons except
A. To accumulate retirement funds
B. To fund a child's education
C. To create an immediate estate
D. To liquidate an estate
10. In the replacement of a Medicare supplement insur- Both the applicant and the
ance policy, who must sign the notice regarding re- agent
placement?
11. The assignment clause in a life insurance policy allows Transfer policy rights to
the policy owner to don which of the following? another person
12. A nonresident agent moved from one state to another. 30 Days
How soon thereafter should the agent file a change of
address and provide a certificate from the new state?
13. An insured would like to reactivate a life insurance D. Reinstatement
policy that lapsed 2 years ago by paying all the
missed premiums and providing evidence of insura-
bility. Which provision allows the insured to do this?
14. Term insurance provides coverage for specified period of time
15. Which of the following is true regarding guaranteed They must be renewed if
renewable health insurance policies? the insured pays the pre-
mium
, Georgia Life and Health Insurance Exam Practice
Study online at https://quizlet.com/_ffirzz
16. After a loss, an insured requests claims forms but has Names of the other insur-
not received them. To fulfill notice of claim require- ers with whom the insured
ments, the insured can also submit, in writing, all of has filled claim.
the following except
17. Under a universal life insurance policy, the policyown- Adjustable Premium and
ers have a choice between what two types of premi- Target Premium
ums?
18. The primary beneficiary of her husband's life insur- The beneficiary
ance policy found that no settlement options were
stated in the policy on the date of her husband's
death. Who will select the settlement option in this
case?
19. Which of the following would be tax free? Death benefit received in a
lump sum settlement
20. If a settlement option is not selected on a life insur- In a single cash payment
ance policy, how will the benefits be distributed?
21. Under which installment option does the annuitant Fixed Amount
select the amount of each payment, and the insurer
determines how long they will pay benefits?
22. Which of the following mandatory health provisions Proof of loss
states the specified number of days given to an in-
sured to return the completed claims forms to the
insurance company?
23. If an insurer makes a statement misrepresentation or Twisting
incompletely comparing the terms of any insurance
, Georgia Life and Health Insurance Exam Practice
Study online at https://quizlet.com/_ffirzz
policy to induce a policyholder to drop existing policy,
what unfair practice has occurred?
24. What is the maximum number of employees that a 50
company can have in order to legally be defined as a
small group?
25. Which of the following disability riders in life insurance Waiver of Premium
allows the policy owner to keep coverage in force with-
out paying policy premiums after a qualifying event?
26. An insured submits the full premium along with Upon the date the policy
a completed application. Once the policy is issued, was issued
when does the coverage begin?
27. What clauses stipulate that if an insured and the pri- Common disaster clause
mary beneficiary die as a result of the same incident,
the benefits will be paid out as if the primary benefi-
ciary has died first?
28. Which of the following is not considered a rebate? D. Offering a prospective
A. Returning part of the premium of the insured as a insured a multi-policy dis-
thank you for buying insurance count
B. Giving prospective insureds $100 gift cards in re-
turn for buying a policy
C. Any inducement to buy that is not stated in the
policy
D. Offering a prospective insured a multi-policy dis-
count
29. In a group health insurance policy, which of the follow- B. Employer
ing would be issued as the master policy
A. A Health Care provider
