Georgia P and C

Question 1

A Surplus Lines Agent MUST:

Answer 1

post a $50,000 bond.

Question 2

An Insurer does not need a reason for terminating a property or casualty policy that has been in effect less than?

Answer 2

60 days

Question 3

Under Georgia insurance law, a notice of cancellation or nonrenewal must state that the client may appeal the cancellation or nonrenewal to the Insurance Commissioner within how many days?

Answer 3

15

Question 4

After appointing an agent, the appointment must be registered in the Insurer’s register of appointed agent’s within:

Answer 4

30 days

Question 5

The Commissioner must inspect the records of a domestic property or life insurance company every:

Answer 5

3 years

Question 6

The Commissioner may issue temporary licenses for:

Answer 6

6 months renewable for up to a total of 15 months.

Question 7

The Guaranty Association:

Answer 7

protects Insured’s if an insurance company is insolvent.

Question 8

Medical malpractice Insurers must notify who of claim payments within 30 days?

Answer 8

The composite State Board of Medical Examiners

Question 9

An insurance agent’s license is required for each of the following EXCEPT:

Answer 9

underwriting

Question 10

Before becoming a licensed counselor, an applicant must have had how many years of insurance experience?

Answer 10

5

Question 11

The Commissioner may issue a fine for each unintentional violation of the law up to:

Answer 11

$1,000

Question 12

Unless a nonrenewal or cancellation involves a nonpayment of premium, Georgia requires Insurers to provide how many days written notice to the client?

Answer 12

30 days

Question 13

A Georgia property Insurer must give at least 45 days notice of nonrenewal if the Insurer plans to impose a rate increase of at least?

Answer 13

15%

Question 14

Every auto liability policy in Georgia is required to include:

Answer 14

Liability only

Question 15

An agent pays an unlicensed person for each referral leading to the sale of insurance. Such a relationship is:

Answer 15

Illegal

Question 16

A retail store must have work comp if it has a minimum of how many workers?

Answer 16

3

Question 17

An Insurer may pay commissions directly to the agency rather than to the agents only if:

Answer 17

each person who sells insurance is a licensed agent.

Question 18

The Guaranty Fund provides coverage for the cash value under a life insurance policy up to:

Answer 18

$100,000

Question 19

Each of the following business entities may obtain an agent’s license EXCEPT:

Answer 19

an unlicensed corporate officer.

Question 20

A Georgia property Insurer is going to cancel an Insured policy. The notice of cancellation must provide how many days’ advance notice that the property may be eligible for coverage under the FAIR Plan?

Answer 20

30

Question 21

An agent’s license lasts for:

Answer 21

2 years

Question 22

Workers compensation insurance premium rates are:

Answer 22

set by the individual insurance Work Comp insurance companies.

Question 23

An Insurer must obtain the following from the Commissioner before transacting insurance business:

Answer 23

Certificate of Authority.

Question 24

A Texas insurance company selling policies in Georgia is referred to in Georgia as:

Answer 24

foreign

Question 25

The Commissioner may issue a fine for each intentional violation of the law up to:

Answer 25

$5,000

Question 26

An agent must inform the Commissioner of a change of business address within:

Answer 26

30 days

Question 27

Uninsured motorist:

Answer 27

may be waived by the Insured

Question 28

The Georgia Work Comp Assigned Risk Plan will assign a Work Comp policy to a private insurer if the business has been rejected by at least how many private Work Comp insurers?

Answer 28

4

Question 29

Which of the following Georgia Insurers cannot engage in limited “price fixing” by using the rates filed by a rating association?

Answer 29

Work Comp insurers

Question 30

The Commissioner may:

Answer 30

fine a Producer $10,000 for violating a Cease and Desist order

Question 31

GAIP:

Answer 31

apportions applicants among existing Insurers.

Question 32

Licensees must keep copies of all records for:

Answer 32

5 years

Question 33

Which public employees are concerned that motor vehicle accidents occurring while they are driving government vehicles may be used as a basis for auto insurers to increase the rates under the individuals:

Answer 33

State employees driving highway maintenance vehicles

Question 34

Defamation involves making false statements about the financial condition of:

Answer 34

Any insurer

Question 35

The Guaranty Fund provides coverage for unpaid health insurance claims up to:

Answer 35

300,000

Question 36

A Georgia Insurer may ignore its filed rates and charge either higher or lower premium rates by simply filing a Rate Deviation with the Commissioner in advance. However, the Insurer may immediately bind coverage and then wait up to 20 days to file the Rate Deviation with the Commissioner if the premium exceeds:

Answer 36

$1,000

Question 37

An auto policy may be cancelled due to each of the following involving an Insured within the prior 36 months EXCEPT:

Answer 37

ordinary negligence resulting in an accident that kills someone

Question 38

If a Georgia property insurer is imposing a rate of 15% or more, or new policy terms that will, in effect, nonrenew the old policy, the property insurer must give how many days notice of nonrenewal?

Answer 38

45

Question 39

Under Georgia’s Guaranty Fund system, if a work comp Insurer is insolvent, claims will be covered up to a maximum of:

Answer 39

No limit

Question 40

Paying a person an inducement to purchase insurance is called:

Answer 40

Rebating

Question 41

Which of the following correctly states the amount of required auto property damage liability coverage under Georgia’s Financial Responsibility Requirements?

Answer 41

$25,000

Question 42

The Georgia Commissioner of Insurance is:

Answer 42

elected

Question 43

Under Georgia law, an Insurer has how many days to return a refund of unearned premium?

Answer 43

10

Question 44

Which of the following may subpoena witnesses and documents at a hearing?

Answer 44

Both the Commissioner and the affected party.