Georgia Insurance Laws and Regulations
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Commissioner of Insurance - Correct answers✔The chief officer of the Insurance Department
who enforces the insurance laws of Georgia.
Investigations - Correct answers✔The Commissioner may conduct investigations whenever there
is cause to believe of violation of insurance laws.
Hearings - Correct answers✔The Commissioner may conduct hearings for any purpose deemed
necessary.
Personnel Appointment - Correct answers✔The Commissioner may appoint personnel to help the
Insurance Department carry out its duties.
Rules and Regulations - Correct answers✔The Commissioner may make rules and regulations to
carry out Georgia's insurance code.
Examination of Affairs - Correct answers✔The Commissioner may examine the affairs of
insurers.
Subpoena Power - Correct answers✔The Commissioner may subpoena witnesses and administer
oaths.
,Financial Examination - Correct answers✔The Commissioner may conduct a financial
examination of any insurance company as often as deemed appropriate.
Domestic Insurers Examination Frequency - Correct answers✔Domestic insurers must be
examined at least once every 5 years.
Access to Information - Correct answers✔The Commissioner is entitled to freely access any
information related to the subject of the examination.
Unfair Competition Examination - Correct answers✔The Commissioner has the power to
examine affairs of any person believed to be engaged in any unfair method of competition or
unfair or deceptive act.
Hearing Timeline - Correct answers✔A hearing shall be held 30 days after demand of hearing by
the Commissioner.
Order After Hearing - Correct answers✔No later than 30 days after the conclusion of a hearing,
the Commissioner must make an order on the hearing.
Cease and Desist Order - Correct answers✔The Commissioner may issue a cease-and-desist
order to any person found to have committed an unfair or deceptive act.
Penalties for Violations - Correct answers✔The Commissioner can impose penalties such as
probation for up to one year, a fine of up to $1,000 for each nonwillful violation, or a fine of up
to $5,000 for willful violation.
, Agent - Correct answers✔An individual appointed or employed by an insurer who sells, solicits,
or negotiates insurance.
Subagent - Correct answers✔A subagent sells or negotiates insurance or annuity contracts on
behalf of a licensed agent and must file a certificate of authority from each agent he/she
represents.
Resident Agent License Requirements - Correct answers✔An applicant must be at least 18 years
of age, not have committed any act that is grounds for denial, complete pre-license education,
pass the state exam, submit the application with fees, not intend to use the license primarily to
write controlled business, be a resident for at least 6 months, and be of good character.
Temporary License - Correct answers✔A temporary license may be issued for 6 months,
renewable up to 15 months.
Nonresident Agents - Correct answers✔An agent who holds a resident license in a different state
may apply for a nonresident license in Georgia if both states have a reciprocal agreement.
New Residents - Correct answers✔Licensed agents moving to Georgia must apply for a resident
license.
Counselor - Correct answers✔An individual who engages in counseling, advising, or rendering
opinions as to the benefits promised under any insurance contract.
Continuing Education for Agents Under 20 Years - Correct answers✔Agents licensed under 20
years must complete 24 hours of continuing education every 2 years, including 3 hours in ethics.
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Commissioner of Insurance - Correct answers✔The chief officer of the Insurance Department
who enforces the insurance laws of Georgia.
Investigations - Correct answers✔The Commissioner may conduct investigations whenever there
is cause to believe of violation of insurance laws.
Hearings - Correct answers✔The Commissioner may conduct hearings for any purpose deemed
necessary.
Personnel Appointment - Correct answers✔The Commissioner may appoint personnel to help the
Insurance Department carry out its duties.
Rules and Regulations - Correct answers✔The Commissioner may make rules and regulations to
carry out Georgia's insurance code.
Examination of Affairs - Correct answers✔The Commissioner may examine the affairs of
insurers.
Subpoena Power - Correct answers✔The Commissioner may subpoena witnesses and administer
oaths.
,Financial Examination - Correct answers✔The Commissioner may conduct a financial
examination of any insurance company as often as deemed appropriate.
Domestic Insurers Examination Frequency - Correct answers✔Domestic insurers must be
examined at least once every 5 years.
Access to Information - Correct answers✔The Commissioner is entitled to freely access any
information related to the subject of the examination.
Unfair Competition Examination - Correct answers✔The Commissioner has the power to
examine affairs of any person believed to be engaged in any unfair method of competition or
unfair or deceptive act.
Hearing Timeline - Correct answers✔A hearing shall be held 30 days after demand of hearing by
the Commissioner.
Order After Hearing - Correct answers✔No later than 30 days after the conclusion of a hearing,
the Commissioner must make an order on the hearing.
Cease and Desist Order - Correct answers✔The Commissioner may issue a cease-and-desist
order to any person found to have committed an unfair or deceptive act.
Penalties for Violations - Correct answers✔The Commissioner can impose penalties such as
probation for up to one year, a fine of up to $1,000 for each nonwillful violation, or a fine of up
to $5,000 for willful violation.
, Agent - Correct answers✔An individual appointed or employed by an insurer who sells, solicits,
or negotiates insurance.
Subagent - Correct answers✔A subagent sells or negotiates insurance or annuity contracts on
behalf of a licensed agent and must file a certificate of authority from each agent he/she
represents.
Resident Agent License Requirements - Correct answers✔An applicant must be at least 18 years
of age, not have committed any act that is grounds for denial, complete pre-license education,
pass the state exam, submit the application with fees, not intend to use the license primarily to
write controlled business, be a resident for at least 6 months, and be of good character.
Temporary License - Correct answers✔A temporary license may be issued for 6 months,
renewable up to 15 months.
Nonresident Agents - Correct answers✔An agent who holds a resident license in a different state
may apply for a nonresident license in Georgia if both states have a reciprocal agreement.
New Residents - Correct answers✔Licensed agents moving to Georgia must apply for a resident
license.
Counselor - Correct answers✔An individual who engages in counseling, advising, or rendering
opinions as to the benefits promised under any insurance contract.
Continuing Education for Agents Under 20 Years - Correct answers✔Agents licensed under 20
years must complete 24 hours of continuing education every 2 years, including 3 hours in ethics.
