Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
BPP building coverage - Correct Answers ✅insures the
building at the described location, outdoor, fixtures,
furnitures, items used to service the property, permanently
installed machinery and equipment, and additions under
construction, including the materials, supplies, and
equipment.
HO limits of property at other residences - Correct Answers
✅the larger of $1000 or 10% Coverage C. Limit does not
apply if property is moved because the residence premise is
being repaired or rebuilt.
When property is moved to newly acquired residence, the
limit shown on declaration will apply on a proportional basis
to each residence
Dwellings under construction - Correct Answers ✅The limit
of liability for a dwelling under construction is provisional, and
is based on the completed value of the structure. At the time
of loss, the applicable limit is a percentage of the provisional
limit, based on the proportion of actual cash value of the
property at the time of loss. Premium is based on an average
amount of insurance during construction.
Water Backup & Sump Pump Endorsement - Correct
Answers ✅Coverage for up to $5,000 in loss or damage,
subject to a $250 deductible, can be provided for an
additional premium with this endorsement.
,Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
Automatic Increase in Insurance Endorsement - Correct
Answers ✅is used to provide at the annual renewal date of
the policy, an automatic increase in the Coverage A and B
limits of insurance to help offset inflation
Other insurance - Correct Answers ✅A provision in an
insurance policy that defines how the policy will respond if
there is another valid insurance policy written on the same
risk.
Stock Companies - Correct Answers ✅Owned by the
stockholders who provide the capital necessary to establish
and operate the insurance company and who share in any
profits or losses.
Mutual companies - Correct Answers ✅Owned by the
policyowners and issue participating policies. Policyowners
are entitled to dividends, which are a return of excess
premium and are nontaxable.
6 classes of insurance in Georgia - Correct Answers ✅1.
Life, accident, and sickness
2. Property, marine, and transportation
3. Casualty
,Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
4. Surety
5. Title
6. HMOs
How often must the Insurance Commission examine domestic
insurers? - Correct Answers ✅Once every 5 years.
What are the timelines if a hearing is requested? - Correct
Answers ✅A hearing must be made within 30 days of the
receipt of the request.
A notification of the hearing must be sent at least 15 days in
advance.
Within 30 days of the hearing, the Commissioner must
release his decision.
What are the penalties after a notice, hearing, and cease and
desist order? - Correct Answers ✅A fine of up to $10,000
per violation
Suspension/revocation of license
Any other appropriate relief.
Express authority - Correct Answers ✅the authority of an
agent, stated in the document or agreement creating the
agency
, Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
Implied authority - Correct Answers ✅Authority that is not
expressed or written into the contract, but which the agent is
assumed to have in order to transact the business of
insurance for the principal.
Apparent authority - Correct Answers ✅The appearance or
the assumption of authority based on the actions, words, or
deeds of the principal or because of circumstances the
principal created.
When does an agents license expire? - Correct Answers
✅Licenses are good to for 2 years and expire on the last day
of the licensee's with month.
What are the CE requirements for an agent? - Correct
Answers ✅24 CE credit hours every 2 years, including 3
credit hours of ethics.
Agents with licensed for 20 years only need 20 CE credit
hours, including ethics.
How long must an agent keep records regarding contracts,
premiums, etc.? - Correct Answers ✅All records must be
kept for 5 years after the completion of a transaction or for
the term of the contract, whichever is greater.
Georgia Practice Questions with
Complete Solutions (Latest 2025)
BPP building coverage - Correct Answers ✅insures the
building at the described location, outdoor, fixtures,
furnitures, items used to service the property, permanently
installed machinery and equipment, and additions under
construction, including the materials, supplies, and
equipment.
HO limits of property at other residences - Correct Answers
✅the larger of $1000 or 10% Coverage C. Limit does not
apply if property is moved because the residence premise is
being repaired or rebuilt.
When property is moved to newly acquired residence, the
limit shown on declaration will apply on a proportional basis
to each residence
Dwellings under construction - Correct Answers ✅The limit
of liability for a dwelling under construction is provisional, and
is based on the completed value of the structure. At the time
of loss, the applicable limit is a percentage of the provisional
limit, based on the proportion of actual cash value of the
property at the time of loss. Premium is based on an average
amount of insurance during construction.
Water Backup & Sump Pump Endorsement - Correct
Answers ✅Coverage for up to $5,000 in loss or damage,
subject to a $250 deductible, can be provided for an
additional premium with this endorsement.
,Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
Automatic Increase in Insurance Endorsement - Correct
Answers ✅is used to provide at the annual renewal date of
the policy, an automatic increase in the Coverage A and B
limits of insurance to help offset inflation
Other insurance - Correct Answers ✅A provision in an
insurance policy that defines how the policy will respond if
there is another valid insurance policy written on the same
risk.
Stock Companies - Correct Answers ✅Owned by the
stockholders who provide the capital necessary to establish
and operate the insurance company and who share in any
profits or losses.
Mutual companies - Correct Answers ✅Owned by the
policyowners and issue participating policies. Policyowners
are entitled to dividends, which are a return of excess
premium and are nontaxable.
6 classes of insurance in Georgia - Correct Answers ✅1.
Life, accident, and sickness
2. Property, marine, and transportation
3. Casualty
,Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
4. Surety
5. Title
6. HMOs
How often must the Insurance Commission examine domestic
insurers? - Correct Answers ✅Once every 5 years.
What are the timelines if a hearing is requested? - Correct
Answers ✅A hearing must be made within 30 days of the
receipt of the request.
A notification of the hearing must be sent at least 15 days in
advance.
Within 30 days of the hearing, the Commissioner must
release his decision.
What are the penalties after a notice, hearing, and cease and
desist order? - Correct Answers ✅A fine of up to $10,000
per violation
Suspension/revocation of license
Any other appropriate relief.
Express authority - Correct Answers ✅the authority of an
agent, stated in the document or agreement creating the
agency
, Property and Casualty Insurance Exam –
Georgia Practice Questions with
Complete Solutions (Latest 2025)
Implied authority - Correct Answers ✅Authority that is not
expressed or written into the contract, but which the agent is
assumed to have in order to transact the business of
insurance for the principal.
Apparent authority - Correct Answers ✅The appearance or
the assumption of authority based on the actions, words, or
deeds of the principal or because of circumstances the
principal created.
When does an agents license expire? - Correct Answers
✅Licenses are good to for 2 years and expire on the last day
of the licensee's with month.
What are the CE requirements for an agent? - Correct
Answers ✅24 CE credit hours every 2 years, including 3
credit hours of ethics.
Agents with licensed for 20 years only need 20 CE credit
hours, including ethics.
How long must an agent keep records regarding contracts,
premiums, etc.? - Correct Answers ✅All records must be
kept for 5 years after the completion of a transaction or for
the term of the contract, whichever is greater.
