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Georgia Laws and Rules- Questions and Answers
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Georgia Laws and Rules- Questions and Answers
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Georgia Laws and Rules- Questions andAnswers
The ___ must provide an insured with proper disclosure concerning the replacement of an
insurance policy Correct Ans-agent
a mutual insurance company and a stock insurance company have one main difference between
them. What is this major contrast? Correct Ans-Stock company is owned by its shareholders.
Mutual company is owned by its policyholders
what is an organization that solicits insurance only to its members Correct Ans-Fraternal
benefit society
in georgia, which of the following statements is correct about life insurance advertisements?
Correct Ans-An insurance agency is responsible for advertisement placed by its insurance
agents
how often must an insurance agent license be renewed in georgia Correct Ans-every 2 years
In Georgia, how long is the "free look" period? Correct Ans-10 days
Defamation occurs when an agent makes a false statement intended to Correct Ans-malign
another insurer
, An example of false advertising would be Correct Ans-An insurer exaggerating its dividends
in a magazine advertisement
what's the requirement for a nonresident agent license applicant Correct Ans-Being a
licensed agent in the agent's home state
after initially issued,a temporary license is valid for Correct Ans-6 Months
In georgia, an accident and sickness policy that is paid on a quarterly basis requires a grace
period of Correct Ans-31 days
which of the following situations does not apply to the georgia replacement rule Correct
Ans-An existing policyholder purchases an additional policy from the same insurer
who would be eligible for a temporary license issued in georgia Correct Ans-The personal
representative of a deceased agent to provide service to existing policy owners
an insurance company which engages in boycott, coercion, and intimidation that results in the
unreasonable restraint of trade is committing a prohibited act under Georgia insurance laws
covering Correct Ans-unfair trade practices
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