GA State Laws & Regulations
The Commissioner may issue a fine for each unintentional violation of the law up to:
$1,000
Under Georgia insurance law, a notice of cancellation or nonrenewal must state that the client may appeal the cancellation or nonrenewal to the Insurance Commisioner within how many days?
15
A retail store must have work comp if it has a minimum of how many workers?
3
An Insurer does not need a reason for terminating a property or casualty policy that has been in effect less than?
60 days
A property agent may split a commission with:
Another property agent.
Defamation involves making false statements about the financial condition of:
Any Insurer.
Under Georgia law, uninsured motorist covers:
Bodily Injury and Property Damagev
Acme Insurance has received one or more claims for a particular residential client. The claims have involved Acts of God (such as wind damage or fire damage) which didn't involve negligence or intentional acts by the client. Acme may nonrenew the policy if it has received how many of these claims?
C 3 in the last 3 years
The Commissioner may issue temporary licenses for:
C.6 months renewable for up to a total of 15 months.
Work Comp insurance is considered to be:
Casualty Insurance
A Georgia Certificate of auto Self-insurance may be obtained from the:
Commissioner of Insurance
A temporary agent may:
Continue existing business but not sell new policies.
Georgia insurance rates are regulated by?
Insurance Commissioner
Under Georgia insurance laws, the agent is presumed to represent the:
Insurer
An agent's appointment letter may be revoked by the:
Insurer.
Every auto liability policy in Georgia is required to include:
Liability only
Under Georgia's Guaranty Fund system, if a work comp Insurer is insolvent, claims will be covered up to a maximum of:
No Limit
Unless a nonrenewal or cancellation involves a nonpayment of premium, Georgia requires Insurers to provide how many days written notice to the client?
Oc 30
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?
Od. 30
A Georgia Insurer may charge rates either higher or lower than the rates filed with the Commissioner if it notifies the Commissioner in advance by filing a:
Rate Deviation
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:
State employees driving highway maintenance vehicles
Terry is a Georgia insurance agent She has received an application for coverage on a single-family home. Her client has submitted an application with a premium. Which of the following is correct?
Terry may issue a binder to provide temporary coverage for up to 90 days.
Who issues a probationary license?
The Commissioner
Under Georgia insurance law, all of the follow are true about subagents EXCEPT?
They are legal representatives of the insurance company. V
Using different rates for persons of approximately the same rate and hazard classification is:
Unfair Discrimination.
Workers Compensation will cover which of the following?
an accidental injury that occurs at work
Each of the following business entities may obtain an agent's license EXCEPT:
an unlicensed corporate officer.
An agent may split commissions with:
any agent licensed with the same line of insurance.
After an auto policy has been in effect for 60 days, it may be cancelled for each of the following reasons EXCEPT?
claims filed
A Texas insurance company selling policies in Georgia is referred to in Georgia as:
foreign
The Georgia FAIR Plan has authority to:
issue assessments against property insurance companies for Plan expenses.
To show eligibility under the Defensive Driver Law, one must have had during the prior 3 years:
no at fault accidents and no traffic violations
Each of the following will satisfy the Commissioner's requirement for a place of business EXCEPT:
post office box V
Which of the following can never be an underwriting factor in Georgia?
race
Paying a person an inducement to purchase insurance is called:
rebating
Which of the following are required to be covered by work comp?
restaurant employees
Workers compensation insurance premium rates are:
set by the individual insurance Work Comp insurance companies.
Under Georgia insurance laws, a person who sells insurance for a licensed agent is known as a/an?
subagent
An auto policy may be cancelled due to each of the following acts by an Insured EXCEPT:
three traffic convictions 40 months ago
An auto policy may be nonrenewed or cancelled for:
three traffic convictions within the last 36 months
An insurance agent's license is required for each of the following EXCEPT:
underwriting.
A person who has held an insurance license in Georgia for 20 years or more must complete how many hours of continuing education per year?
•C. 10 hours,
A Georgia Insurer may offer food and refreshments to prospective clients during sales presentations only if:
a. no insurance policies are offered during the presentation.
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:
$1,000
The Guaranty Fund provides coverage for the cash value under a life insurance policy up to:
$100,000
An auto policy must provide at least how much bodily injury liability coverage per person?
$25.000
If an agent is subject to criminal arrest, the Commissioner must be notified within
30 days.
Any action of the Commissioner may be appealed within 30 days to:
Superior Court of Fulton County.
A temporary license can be issued to the following:
Surviving spouse.
Defamation involves making false statements about:
an InsurerV
Work comp is NOT required for employers with fewer than how many employees?
b.3
The Georgia Insurance Commissioner can do each of the following EXCEPT:
modify state statutes
The Commissioner may issue cease and desist orders:
when any insurance company or agent violates insurance laws.
In the area of auto insurance, the residual market is intended to provide insurance for the:
worst drivers
FAIR Plan policies:
b. are issued by the Plan rather than by private insurers.
Under the Georgia Automobile Insurance Plan (GAIP), the actual insurance policies are issued by:
private insurance companies
An agent cannot hold a license for the purpose of buying insurance at a discount for the agent or associates. Such insurance is referred to as "controlled business" if it constitutes more than what percentage of the agent's total volume of business per year?
25%
If an Insured wishes to appeal a nonrenewal or cancellation to the Insurance Commissioner, the Insured must tender how many days pro rata premium to the Insurer to maintain interim coverage?
30 days
The Commissioner has acted in such a way that a person is aggrieved. The aggrieved person may request a hearing which must be held by the Commissioner within:
30 days
The Commissioner must hold a hearing within how many days of written demand by an aggrieved person?
30 days
Under Georgia law, an Insurer must provide how many days' notice prior to nonrenewal or cancellation of a property or casualty policy covering an industrial manufacturing plant?
30 days
Which of the following may subpoena witnesses and documents at a hearing?
Both the Commissioner and the affected party.
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?
b. 15%
Medical malpractice Insurers must notify which of following of claim payments within 30 days?
The composite State Board of Medical Examiners
Which of the following Georgia Insurers cannot engage in limited "price fixing" by using the rates filed by a rating association?
Work Comp Insurers
An Insurer receives a 5% rebate from a local auto glass/repair shop in return for referrals. Such a payment is specifically:
a. Prohibited.
The Commissioner may suspend or revoke an Agent's license for all of the following EXCEPT
accepting a $45 fee from a client
GAIP
apportions applicants among existing Insurers.
To be eligible for a resident agent license, an applicant must be present in Georgia:
at least 6 months per year.
Uninsured motorist:
b. may be waived by the Insured
The Commissioner may give an agent notice of an order by delivering the notice to:
b. the agent's place of business on record in the Commissioner's office.
A property or casualty policy claim is covered under Georgia's Property and Casualty Guaranty Fund up to how much?
$300,000
The maximum length of time a written or oral binder will be effective under Georgia law is:
90 days.
When the Guaranty (Insolvency) Fund pays claims, the Fund is replenished by:
b. an assessment against the remaining Insurers' premiums
An agent must pay a renewal fee every:
b.2 years.
An agent's license lasts for:
b.2 years.
The Guaranty Association:
protects Insured's if an insurance company is insolvent
The purpose of the Georgia FAIR Plan is to:
provide property insurance to persons unable to obtain insurance.
The Commissioner has the authority to do the following EXCEPT:
regulate insurance profits.
A homeowner policy nonrenewal notice must state each of the following EXCEPT:
the Insurer is required to recommend at least 2 other insurers willing to provide the coverage.
Which of the following correctly states the amount of required auto property damage liability coverage under Georgia's Financial Responsibility Requirements?
$25,000v
After appointing an agent, the appointment must be registered in the Insurer's register of appointed agent's within:
30 days.
An agent must inform the Commissioner of a change of business address within:
30 days.
If an Insurer terminates an agent's appointment, the Insurer must notify the Commissioner and explain the termination within:
30 days.
The Commissioner must inspect the records of a domestic property or life insurance company every:
b.3 years
An agent pays an unlicensed person for each referral leading to the sale of insurance. Such a relationship is:
cillegal,
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?
d. 45
Before becoming a licensed counselor, an applicant must have had how many years of insurance experience?
d. 5
Licensees must keep copies of all records for:
d. 5 years.
One who is licensed to, for a fee, provide advice regarding insurance policies is a/an:
dcounselor
An Insurer may pay commissions directly to the agency rather than to the agents only if
each person who sells insurance is a licensed agent.
The Georgia Commissioner of Insurance is:
elected
The Commissioner may:
fine a Producer $10,000 for violating a Cease and Desist order
Each of the following is a method of satisfying the Georgia Motor Vehicle Reparations Act EXCEPT:
letter from a certified public accountant attesting to the individual
A resident Georgia Producer will lose her resident Producer license if she:
moves to a nearby state
An auto policy may be cancelled due to each of the following involving an Insured within the prior 36 months EXCEPT:
ordinary negligence resulting in an accident that kills someone
If a Georgia Insurer fails to return a refund of unearned premium within 10 days, in addition to a 25% penalty, the Insurer will be responsible for paying interest at the annual rate of:
18%
An agent may collect how much interest from a client on a premium which is past due 30 days or more?
18% per year.
Every agent must complete Continuing Education Courses every:
2 years.
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?
4