Georgia Laws, Rules, and Regulations Common to All Lines

Georgia Laws, Rules, and Regulations Common to All Lines

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1/10

What type of insurer is an insurance company incorporated in another state, the District of Columbia, or a territorial possession? Select 1 option.

Domestic insurer

Foreign insurer

Alien insurer

Authorized insurer

1/10

Correct!

Foreign insurer is an insurance company incorporated in another state, the District of Columbia, or a territorial possession.

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2/10

What type of insurer is an insurance company incorporated outside the United States? Select 1 option.

Domestic insurer

Foreign insurer

Alien insurer

Authorized insurer

2/10

Correct!

Alien insurer is an insurance company incorporated outside the United States.

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3/10

How long is the Commissioner ’s term of office? Select 1 option.

3 years

2 years

4 years

5 years

3/10

Correct!

The Commissioner's term of office is 4 years.

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4/10

Any person who illegally transacts insurance without a license for that line of authority is considered guilty of what violation? Select 1 option.

Coercion

Insurance Fraud

Felony

Misdemeanor

4/10

Correct!

Any person who illegally transacts insurance without a license for that line of authority is considered guilty of misdemeanor.

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5/10

What is the required number of years of insurance experience for individuals applying for a counselor license? Select 1 option.

2 years

3 years

4 years

5 years

5/10

Correct!

5 years of insurance experience is required for individuals applying for a counselor license.

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6/10

Who engages in the business of counseling, advising, or rendering opinions as to the benefits under any insurance contract issued? Select 1 option.

Agent

Adjuster

Counselor

Broker

6/10

Correct!

An insurance counselor engages in the business of counseling, advising, or rendering opinions as to the benefits under any insurance contract issued.

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7/10

Who receives compensation to investigate, settle, or adjust claims arising under insurance contracts? Select 1 option.

Agent

Adjuster

Counselor

Broker

7/10

Correct!

An adjuster receives compensation to investigate, settle, or adjust claims arising under insurance contracts.

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8/10

In Georgia, individuals who receive money to purchase insurance and convert it to their own benefits are considered guilty of what violation? Select 1 option.

Misrepresentation

False advertising

Insurance fraud

Controlled business

8/10

Correct!

Individuals who receive money to purchase insurance and convert it to their own benefits are considered guilty of insurance fraud.

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9/10

Authorized insurers are examined by the Commissioner once every how many years? Select 1 option.

2 years

3 years

4 years

5 years

9/10

Correct!

Authorized insurers are examined by the Commissioner once every 5 years.

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10/10

In Georgia, what is the maximum value of any gift or merchandise that an insurer or producer can give a customer? Select 1 option.

$100

$1,000

$5,000

$10,000

10/10

Correct!

The maximum value of any gift or merchandise that an insurer or producer can give a customer is $100.

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Congratulations!

You should now feel more comfortable with Georgia laws, rules, and regulations common to all lines.

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