Georgia Laws and Rules Study guides, Study notes & Summaries

Georgia Personal Line Exam Questions and Answers 100% Pass In an insured's neighborhood, individuals are required to pay the fire department if called to their premises. This insured has a homeowner policy. How much will the policy pay for these fire department service charges? - Correct Answer ️️ -up to $500 When applying for an individual life insurance policy, an applicant states that he went to the doctor for nausea, but fails to mention that he was also having severe chest pains....

Georgia Laws and Rules Exam Questions and Answers 100% Pass J is an agent who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this agent be found guilty of? - Correct Answer ️️ -Coercion All agents licensed less than 20 Years are required to complete ___ continuing education hours every two years, - Correct Answer ️️ -24 In Georgia, most life insurance policies have a contestability period of - C...

GEORGIA LAWS AND RULES EXAM QUESTIONS AND ANSWERS 100% PASS 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 Answer ️️ -Churning: is an illegal practice where insurance agents unnecessarily replace existing life insurance for the purpose of earning additional (higher) first year commissions An example of unfair discrimination would be - Correct Answer ️...

GA Life/Health Ins Exam Questions with 100% Correct A claiment wants to bring a recovery action against an insurance company for a loss claimed under a policy. The action must be brought a) Within 2 years. b) Within 3 years. c) Immediately. d) Only within 60 days. - Correct Answer ️️ -b) Within 3 years. Some states require a provision limiting the time parameters in which a claimant may seek recovery from an insurer under a policy. Georgia requires legal action to be brought forth ...

Georgia Life and Health Insurance Exam Questions and Answers 100% Pass Accident - Correct Answer ️️ -An unplanned unforseen event which occurs suddenly at an unspecified place Accident insurance - Correct Answer ️️ -A type of insurance that protects the insured against loss due to an accidental bodily injury Accidental bodily injury - Correct Answer ️️ -Unplanned unforseen traumatic injury to the body Accidental Death and Dismemberment - Correct Answer ️️ -An insurance po...

A person who is required to be a licensed agent would be a(n): - Answer- Underwriter Officer who makes decissions on the financial direction of the insurer Person who places insurance on behalf of anyone seeking insurance Administrator working in the marketing department who does no selling A domestics insurance company in Georgia is considered a company that - Answer- Only sells to Georgia residents Exclusively does business in Georgia Is incorporated and formed in Georgia ...

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... - Answer- Churning: is an illegal practice where insurance agents unnecessarily replace existing life insurance for the purpose of earning additional (higher) first year commissions An example of unfair discrimination would be - Answer- offering different terms of coverage for different policyowners in the same risk classifi...

J is an agent who recently told a claimant that his rights might be impaired if he does not complete a release form within a specified time. What could this agent be found guilty of? - Answer- Coercion All agents licensed less than 20 Years are required to complete ___ continuing education hours every two years, - Answer- 24 In Georgia, most life insurance policies have a contestability period of - Answer- 2 years All accident and sickness plans MUST provide coverage on newborn children...

In Georgia, which of the following statements is CORRECT about life insurance advertisements? a. An insurance agency is responsible for advertisements placed by its insurance agents b. The commissioner of insurance must approve advertisements before they are used c. Third-party testimonials may not be used d. The dividend may be represented as guaranteed - Answer- An insurance agency is responsible for advertisements placed by its insurance agents Which Unfair Trade Practice involves an a...