Chapter 5 life Insurance

the violation of a cease and desist order may result in a fine of

$10,000

what is the max allowed rate of interest on policy loans from life insurance

8%

Producers in Georgia will be deemed to be using their license primarily to write controlled business if, during any calendar year,

controlled business accounts for more than 25% of the agents business

State law specifically prohibits using illegal inducements in the marketing of insurance. All of the following would be considered illegal inducements EXCEPT

inviting prospective clients to the grand opening of the company's new office

an agent license can be issued

only to individuals

all of the following statements regarding CE requirements in this state are true except

producers may repeat the same courses to meet the required CE hours for a licensing period

if an Insurance premium is paid by the policy owner to the agent and the agent fails to remit that premium to the insurer which of the following statements is true

the policy will not lapse since the payment to the agent is the same as a payment to the insurer

a willful violation of an agent's fiduciary responsibility that involved funds exceeding $1,000 will be considered

a felony