Georgia Statutes, Rules, and Regulations Common to All Lines

Georgia Statutes, Rules, and Regulations Common to All Lines

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06/10/18

QUESTION 1/10

How many years is the Commissioner of Insurance for the state of Georgia elected for? Select 1 option.

Four years

Two years

Eight years

Six years

QUESTION 2/10

Jose is a licensed agent in Georgia who received a cease-and-desist order from the Commissioner for participating in unfair trade practices. Jose ignored the order and continued to collect premiums. Which of the following options best describes the penalty Jose will receive? Select 2 options.

Imprisonment up to 30 days

$10,000 fine

Imprisonment up to 60 days

Suspension and revocation of license

QUESTION 3/10

Select the option that best describes a responsibility that the Georgia State Commissioner of Insurance is not responsible for. Select 1 option.

Write laws.

Examine authorized insurers.

Regulate the internal affairs of the Department of Insurance.

Issue cease-and-desist orders.

QUESTION 4/10

Which of the following penalties is the Commissioner not able to impose for violating Georgia’s insurance laws? Select 1 option.

A fine of up to $2,000 for nonwillful violations

Imprisonment for up to two years

A find of up to $5,000 for willful violations

One-year probation

QUESTION 5/10

Who performs the Commissioner's duties in the Commissioner's absence? Select 1 option.

Chairman of the Board of the Department of Insurance

Deputy Commissioner of Insurance

Director of the Advisory Board

Governor

QUESTION 6/10

Rick is a licensed agent and knowingly circulated false statements about an insurer’s financial condition. What is this called? Select 1 option.

Replacement

Defamation

Rebating

Conversion

QUESTION 7/10

Irma lives in Georgia and is getting ready to apply for an insurance license. Which of the following is not a requirement Irma must meet? Select 1 option.

Must have a high school diploma or General Educational Development Test (G.E.D.)

Must be at least 18 years old

Must be a resident of Georgia and be present there for at least six months

Must be of good character

QUESTION 8/10

Which of the following is not an unfair and deceptive trade practice? Select 1 option.

Circulating a statement saying that another insurer is in danger of going bankrupt

Rebating premiums

Inflating the dividend amount when discussing the policies advantages with potential policyholders

Issuing checks in full settlement of a claim that contain language releasing the insurer from liability

QUESTION 9/10

How many days of advanced notice does the insurer have in the state of Georgia to provide a notice of cancellation of homeowner’s insurance? Select 1 option.

10 days

30 days

60 days

90 days

QUESTION 10/10

10

Which of the following is an example of when the nonrenewal of a homeowner’s policy is acceptable? Select 1 option.

Change in the underwriting guidelines if not approved by the commissioner

Lack of supporting automobile insurance with the insurer

A claim for a fire started by an angry tenant of the insured

Two claims in the past three years for windstorm damage

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