GA Life, Health and Accident
Insurance Exam Questions with
Correct Answers
An individual wishes to purchase whole life Insurance but does not wish to pay
premiums past retirement age. Which of the following policies should the person buy? -
ANSWERSLimited pay
In addition to the Insurance Department, who has the authority to regulate variable life
insurance? - ANSWERSSecurities Exchange Commission
Rules and regulations made by the Commissioner of Insurance must be approved by
the - ANSWERSGeorgia Attorney General
Which of the following has the greatest impact in making one individual's life insurance
premium different from that of another individual, assuming both own the same type of
policy? - ANSWERSThe policy's mortality factor
Frank is the insured in a $40,000, 5-year level term policy issued in 2001. He died in
2007. His beneficiary received - ANSWERSnothing
Michelle, age 31, just purchased a $50,000 variable life insurance policy. With regard to
her policy, which of the following statements is NOT correct - ANSWERSAt her death,
her beneficiary may receive more or less than $50,000 in proceeds.
Term life insurance is... - ANSWERSTerm insurance provides protection for only a
temporary period
An applicant for health insurance completes the application and satisfies all of the
conditions of the conditional receipt. If the policy is eventually issued as applied for,
coverage takes effect: - ANSWERSjust as if the policy had already been issued
Tom has a $50,000 whole life policy. If he continued to pay the required premiums and
lived to age 100, he would receive: - ANSWERS$50,000 as an endowment
An applicant for an agent license has failed the written examination 3 times. What must
the applicant do in order to take the examination a fourth time? - ANSWERSke the
prelicensing course before retaking the exam.
When must credit accident and sickness insurance policies define total disability as the
inability to perform any occupation for which the debtor is reasonably fitted by
education, training, or experience? - ANSWERSAfter the first 12 months of disability
Insurance Exam Questions with
Correct Answers
An individual wishes to purchase whole life Insurance but does not wish to pay
premiums past retirement age. Which of the following policies should the person buy? -
ANSWERSLimited pay
In addition to the Insurance Department, who has the authority to regulate variable life
insurance? - ANSWERSSecurities Exchange Commission
Rules and regulations made by the Commissioner of Insurance must be approved by
the - ANSWERSGeorgia Attorney General
Which of the following has the greatest impact in making one individual's life insurance
premium different from that of another individual, assuming both own the same type of
policy? - ANSWERSThe policy's mortality factor
Frank is the insured in a $40,000, 5-year level term policy issued in 2001. He died in
2007. His beneficiary received - ANSWERSnothing
Michelle, age 31, just purchased a $50,000 variable life insurance policy. With regard to
her policy, which of the following statements is NOT correct - ANSWERSAt her death,
her beneficiary may receive more or less than $50,000 in proceeds.
Term life insurance is... - ANSWERSTerm insurance provides protection for only a
temporary period
An applicant for health insurance completes the application and satisfies all of the
conditions of the conditional receipt. If the policy is eventually issued as applied for,
coverage takes effect: - ANSWERSjust as if the policy had already been issued
Tom has a $50,000 whole life policy. If he continued to pay the required premiums and
lived to age 100, he would receive: - ANSWERS$50,000 as an endowment
An applicant for an agent license has failed the written examination 3 times. What must
the applicant do in order to take the examination a fourth time? - ANSWERSke the
prelicensing course before retaking the exam.
When must credit accident and sickness insurance policies define total disability as the
inability to perform any occupation for which the debtor is reasonably fitted by
education, training, or experience? - ANSWERSAfter the first 12 months of disability
