Georgia Life, Health & Accident Insurance Final Exam
V2 | 2026/2027 Update | Complete Study Guide |
Verified Questions & Answers | 100% Correct Solutions |
Grade A
Q: A policy has lapsed because of nonpayment of premium. It can be reinstated under certain
conditions. Which of the following nonforfeiture options allows for reinstatement?
Answer
Extended Term insurance and reduced-paid up
Q: The Commissioner of Insurance is granted broad authority in the regulation of insurance.
Which of the following is not one of the Commissioner's areas of authority?
Answer
Enactment of legislation
Q: what is required when a 58-year old takes a lump sum payout from anon-qualified annuity?
Answer
tax on the interest and a 10 percent penalty
Q: the clause in a life insurance policy stating that neither party to the contract can unilaterally
introduce modifications to the contract is called the_____.
Answer
incontestible
,Q: which of the following is true about universal life?
Answer
the policy owner may withdraw the entire cash value of the policy is tax free
Q: Long Term Care insurance means any accident and sickness insurance policy designed to
provide coverage for not less than ____ consecutive months.
Answer
12
Q: Which of the following is permitted to write insurance without a license?
Answer
None of the above
Q: when a 58 year old takes a lump sum payout from a non qualified annuity?
Answer
NOT, tax on principal and a 10 percent penalty, TRY tax on the interest and a 10 percent penalty
,Q: Which of the following statements best describe the term Advertisement as used in Georgia
insurance law?
Answer
Any written or verbal material or communication designed to create public interest in life
insurance or annuities which includes the public to purchase such product.
Q: Wayne has sold life and health insurance for a number of years. On January 2, 2009, he
decides to expand his business by selling Long Term Care insurance, What must he do?
Answer
He must complete a one-time 8 hour training course in Long Term Care insurance.
Q: which of the following statements about compensation for selling, soliciting or negotiating
is not correct?
Answer
An insurer may pay a person who does not sell or solicit insurance if that person is a creditor of
the insurance producer
Q: The requirement for the consent of an individual for whom a life insurance policy is written
does not apply to:
Answer
spouse
, Q: Which statement about the requirements for Qualified Long Term Care Partnership policy
sold in Georgia is not correct?
Answer
All policy provisions and rating methods must be approved by the Secretary of Health and
Human Services.
Q: An unauthorized insurer means:
Answer
A company that is not licensed to do business in the State.
Q: Which of the following is true about replacement under Georgia law?
Answer
The replacing company must maintain a copy of the replacement notice and other required
material for at least 3 years.
Q: Insurance companies must contain copies of Health insurance advertisements for at least
how long?
Answer
five years
Q: To obtain a producer's license in Georgia a person must be at least __ years.
Answer
V2 | 2026/2027 Update | Complete Study Guide |
Verified Questions & Answers | 100% Correct Solutions |
Grade A
Q: A policy has lapsed because of nonpayment of premium. It can be reinstated under certain
conditions. Which of the following nonforfeiture options allows for reinstatement?
Answer
Extended Term insurance and reduced-paid up
Q: The Commissioner of Insurance is granted broad authority in the regulation of insurance.
Which of the following is not one of the Commissioner's areas of authority?
Answer
Enactment of legislation
Q: what is required when a 58-year old takes a lump sum payout from anon-qualified annuity?
Answer
tax on the interest and a 10 percent penalty
Q: the clause in a life insurance policy stating that neither party to the contract can unilaterally
introduce modifications to the contract is called the_____.
Answer
incontestible
,Q: which of the following is true about universal life?
Answer
the policy owner may withdraw the entire cash value of the policy is tax free
Q: Long Term Care insurance means any accident and sickness insurance policy designed to
provide coverage for not less than ____ consecutive months.
Answer
12
Q: Which of the following is permitted to write insurance without a license?
Answer
None of the above
Q: when a 58 year old takes a lump sum payout from a non qualified annuity?
Answer
NOT, tax on principal and a 10 percent penalty, TRY tax on the interest and a 10 percent penalty
,Q: Which of the following statements best describe the term Advertisement as used in Georgia
insurance law?
Answer
Any written or verbal material or communication designed to create public interest in life
insurance or annuities which includes the public to purchase such product.
Q: Wayne has sold life and health insurance for a number of years. On January 2, 2009, he
decides to expand his business by selling Long Term Care insurance, What must he do?
Answer
He must complete a one-time 8 hour training course in Long Term Care insurance.
Q: which of the following statements about compensation for selling, soliciting or negotiating
is not correct?
Answer
An insurer may pay a person who does not sell or solicit insurance if that person is a creditor of
the insurance producer
Q: The requirement for the consent of an individual for whom a life insurance policy is written
does not apply to:
Answer
spouse
, Q: Which statement about the requirements for Qualified Long Term Care Partnership policy
sold in Georgia is not correct?
Answer
All policy provisions and rating methods must be approved by the Secretary of Health and
Human Services.
Q: An unauthorized insurer means:
Answer
A company that is not licensed to do business in the State.
Q: Which of the following is true about replacement under Georgia law?
Answer
The replacing company must maintain a copy of the replacement notice and other required
material for at least 3 years.
Q: Insurance companies must contain copies of Health insurance advertisements for at least
how long?
Answer
five years
Q: To obtain a producer's license in Georgia a person must be at least __ years.
Answer
