Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ga Law

Ga P & C Insurance Exam - Ga Law

How is the Ins Commissioner chosen? Term Length? Max # terms? Election; 4yrs; unlimited # terms
Who is the current ins commissioner of GA? Ralph Hudgens
What are the two chief capacities/ powers of Ga Ins Commissioner? 1. Chief Officer of Insurance 2. Chief Fire Marshal
What are the 4 duties/ responsibilities of Ga's Ins Commissioner? 1. appoint deputy commissioners 2. select chief deputy commissioner from deputies 3. Establish bond of $15k 4. Examine financial records of ins co's doing business in Ga (min each 5 yrs for each co.)
With regards to a domestic ins co accused of wrongdoing, what are the duties of the state? the rights of ins co? state must offer accused co public hearing within 30 days; accused co. may request a public hearing
Who has final judgement in the appeal of decision by ins commission? Superior Court of Fulton Co
What is the penalty for violating Ga law codes? probation for 1 yr + fine (unintentional, first violation = $1k per transaction and intentional, post-warning = $5k per transaction
Can an ins co have its license revoked for being in financial distress? Yes
What are four qualifications to being a producer (ins agent) in Ga? 1. 18+yo 2. 40 hr training class 3. pass license exam 4. pass background check (no felonies)
What does the snowbird exclusion state? To obtain a resident ins sales license in GA, one must be a Ga resident (live in GA 6+ moths per yr)
Who would be exempt from taking a pre-licensing course before a state insurance exam? Charter Property Casual Underwriter
How much continuing ed per yr do the following need: 1. agent licensed for 20+yrs 2. agent licensed < 20 yrs 1. 15 hrs training per yr 2. 10 hrs training per yr (3hrs ethics)
If an agent's license has inactive status, is he/she still required to do training to maintain that inactive status (and not have it cancelled altogether)? Yes- same required training as active agents
What does a temporary sales license allow its holder to do? How long is it valid? go on sales calls with a licensed agent; min = 6mos. and max = 15 mos.
What does a counselor's license allow its holder to do? Qualifications? charge customers fees for doing insurance work (as opposed to commission as an agent); qualifications = 5 yrs experience as an agent and pass counselor's exam
What is a rebate and are they legal in the ins biz in Ga? offer of a gift/$ to potential client while he or she is considering buying a policy; illegal in Ga
What is controlled business with respect to ins agents in Ga? rule that states an agent can only have <25% of their accounts as ones that ONLY deal with him/ her as an agent
What is twisting with respect to ins agents in Ga? unethical practice of "downgrading" a policy's terms when switching that policy from another company for a new client
Within how many days of a request by insured must an ins co provide forms needed for filing a claim? 15 days
What is the time period for which a binder is valid? earliest date between: 1. date policy issued 2. 90 days after binder issued
Can an agent sahre his/ her commission with an unlicensed person (i.e. to realtor who sends business to agent regularly)? No- must be an agent and of same type of license(i.e. P & C)
What is the purpose of a Fair Plan? to provide insurance for buildings that are deemed uninsurable because of location, occupancy or condition (helps to encourage property development and improvement in Ga)
Name 2 pers auto insurance discounts in Ga and describe the qualifications for receiving each. 1. Defensive driving discount= at least 10% discount for client: 25+yo, took defensive driving course & licensed and accident free for 3 yrs 2. Good student discount= at least 10% discount for client who: <25 yo, unmarried, full time student w/ 3.0 GPA
Created by: jkbick
Popular Insurance sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards