A temporary agent may: Correct Answer: Continue existing business but not sell new policies.
Premium rates that are so low that they tend to destroy competition by creating a monopoly are referred to under Georgia in
...
A temporary agent may: Correct Answer: Continue existing business but not sell new policies.
Premium rates that are so low that they tend to destroy competition by creating a monopoly are referred to under Georgia insurance laws as: Correct Answer: Inadequate
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? Correct Answer: 15%
Which of the following are required to be covered by work comp? Correct Answer: restaurant employees
Under Georgia insurance laws, a person who sells insurance for a licensed agent is known as a/an? Correct Answer: subagent
In the area of auto insurance, the residual market is intended to provide insurance for the: Correct Answer: worst drivers
Each of the following will satisfy the Commissioner's requirement for a place of business: Correct Answer: - an office in a shopping mall
- an office in another business, such as a real estate office
-a home office
An agent's appointment letter may be revoked by the: Correct Answer: insurer
Licensees must keep copies of all records for: Correct Answer: 5 years
The Commissioner may suspend or revoke an Agent's license for all of the following: Correct Answer: - having been convicted of a felony
- failing to comply with a commissioner order
- using fraudulent information while conducting insurance business
An auto policy may be cancelled due to each of the following involving an Insured within the prior 36 months: Correct Answer: - criminal negligence resulting in an accident that kills someone
- drug addiction
-drunk driving
Paying a person an inducement to purchase insurance is called: Correct Answer: rebating
Each of the following is a method of satisfying the Georgia Motor Vehicle Reparations Act Correct Answer: - auto liability insurance
- a certificate of self-insurance
- surety bond
To show eligibility under the Defensive Driver Law, one must have had during the prior 3 years: Correct Answer: no at fault accidents and traffic violations
The Guaranty Fund provides coverage for unpaid health insurance claims up to: Correct Answer: $300,000
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? Correct Answer: Terry may issue a binder to provide temporary coverage for up to 90 days.
Uninsured motorist Correct Answer: may be waived by the insured
An insurer does not need a reason for terminating a property or casualty policy that has been less than? Correct Answer: 60 days
A homeowner policy non renewal notice must state each of the following Correct Answer: - at least 30 days advance notice
- the insured may be eligible for coverage under the Georgia FAIR Plan
- the actual reasons for the cancela
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