Georgia insurance laws exam questions and answers 100% correct

Georgia insurance laws exam questions and answers 100% correct A temporary agent may: - Correct Answer ️️ -Continue existing business but not sell new policies. Premium rates that are so low that they tend to destroy competition by creating a monopoly are referred to under Georgia insurance laws as: - Correct Answer ️️ - Inadequate An agent cannot hold a license for the purpose of buying insurance at a discount for the agent or associates. Such insurance is referred to as "controlled business" if it constitutes more than what percentage of the agent's total volume of business per year? - Correct Answer ️️ -15% Which of the following are required to be covered by work comp? - Correct Answer ️️ - restaurant employees Under Georgia insurance laws, a person who sells insurance for a licensed agent is known as a/an? - Correct Answer ️️ -subagent In the area of auto insurance, the residual market is intended to provide insurance for the: - Correct Answer ️️ -worst drivers Each of the following will satisfy the Commissioner's requirement for a place of business: - Correct Answer ️️ -- an office in a shopping mall - an office in another business, such as a real estate office -a home office An agent's appointment letter may be revoked by the: - Correct Answer ️️ -insurer Licensees must keep copies of all records for: - Correct Answer ️️ -5 years The Commissioner may suspend or revoke an Agent's license for all of the following: - Correct Answer ️️ -- having been convicted of a felony - failing to comply with a commissioner order - using fraudulent information while conducting insurance business An auto policy may be cancelled due to each of the following involving an Insured within the prior 36 months: - Correct Answer ️️ -- criminal negligence resulting in an accident that kills someone - drug addiction -drunk driving Paying a person an inducement to purchase insurance is called: - Correct Answer ️️ - rebating Each of the following is a method of satisfying the Georgia Motor Vehicle Reparations Act - Correct Answer ️️ -- auto liability insurance - a certificate of self-insurance - surety bond To show eligibility under the Defensive Driver Law, one must have had during the prior 3 years: - Correct Answer ️️ -no at fault accidents and traffic violations The Guaranty Fund provides coverage for unpaid health insurance claims up to: - Correct Answer ️️ -$300,000 Terry is a Georgia insurance agent. She has received an application f