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State Exam
| Question | Answer |
|---|---|
| Insurer | Insurer is the insurance company |
| An Insurance Company chartered in Illinois doing business in Georgia would be considered by Georgians to be a/an? | Foreign Company |
| When aseparate bank account is not kept by the agent for receiving insurance premiums that are due to insurers from his own personal funds, it is called? | Commingling |
| If an agent has his license revoked because he has committed a fraudulent act in regard to the insurance business, how long must he wait after the revocation to file for another license? | Five (5) years |
| A temporary license is issued for an initial period of? | Six (6) years |
| The Commissioner of Insurance in Georgia is elected to serve for how many years? | Four (4) years |
| The premium for controlled business which a license is permitted to transact in any calendar year must be less than (friends and family transactions)? | 25% of the total premiums on all business transacted |
| All of the following are true about a property and casualty insurance binder, except? | It does not have to provide the same coverage as the policy for which it is given |
| A Georgia insurance agent's license may be issued to? | An individual |
| An agent, agency or broker must keep a record of his business for? | Five (5) years, or term of the policy, whichever is longer |
| Each of the following statements regarding the Georgia insurance Code is true, except? | The code applies to insurance transactions in the United States |
| Before any rule or regulation shall become effective, it has to be on file as a public record in the office of the Insurance Commissioner for at least? | Ten (10) days |
| The filing date for continuing education is based on the last two digits of a person's license number. If the last two (2)were 68, the person's filing date would be? | November 1st |
| An agent is a legal representative of? | The insurer (Company) |
| Employees of the Insurance Department may not have any financial interest in any insurer or insurance agency, except? | A policyholder or claimant |
| The document granting an insurer the privilege of transacting insurance business in Georgia is known as? | A Certificate of Authority |
| A reciprocal insurer in Georgia is not permitted to transact? | Life insurance |
| No authorized insurer shall issue a policy covering a subject of insurance located in Georgia unless the policy or countersignature endorsement attached has been countersigned by a? | Licensed resident agent |
| The right of an employee to exchange his group insurance for an individual policy *within thirty-one (31) days from termination of employment is provided by the? | Conversion provision |
| Mary Adams has disability income coverage providing a ten(10) year accident and ten (10) year sickness benefit period. The policy has a seven (7) day elimination (waiting) period provision for sickness plus a thirty (30) day probationary (waiting) perio | None of the above |
| Provisions are the same as | Terms and conditions |
| The legal actions provisions of an accident and health policy require that? | An insured wait at least sixty (60) days after submission of Proof of Loss before initiating a law suit |
| In order to comply with the Fair redit Reporting Act, at which of the following times may an agent notify an applicant that a credit report may be requested? | At the time of application |
| Whole Life Insurance builds? | Cash value |
| Under the Uniform Provisions Law, which of the following provisions is optional for an accident and health policy? | Change of occupation |
| An applicant for an individual health policy failed to complete the responses to medical history questions because he has forgotten important past treatment dates and signed the appl. before being able to complete the responses or pay the initial premium | Consideration clause |
| What is a consideration clause? | It is pay - The part of an insurance contract that sets forth the amount of initial and renewal premiums and frequency of future payments. |
| When benefits are paid to a policy owner for a hospital expense, the policy is considered to be which of the following? | Medical reimbursement |
| Which of the following statements about Accidental Death and Dismemberment coverage are true? | Dismemberment benefits are paid for certain disabilities that are presumed to be total and permanent/Accidental Death benefits are paid only if death results from an accidental bodily injury as defined in the policy. |
| When completing an application for medical insurance, an agent should do which of the following? | Witness the applicant's signature |
| An applicant for an accident and health insurance policy has a heart condition of which he is unaware and therefore he answers "no" to the question pertaining to heart problems. His answer is considered to be a? | Representation (thought to be true) |
| In health insurance, the length of the grace period varies according to which of the following? | The mode of the premium payment |
| Charles Adams advised his insurance company of a loss covered by his disability policy. If the insurance company does not provide Mr. Adams with the proper claim forms within fifteen (15) calendar days, he has which of the following rights? | To submit a written description of the loss, in his own words |
| Pre-existing conditions are referred to in which of the following required health policy provisions? | Time limit on certain defenses |
| An agent has just been told by a policy owner that she is ten (10) years younger than was listed on the application. The agent should? | Notify the insurance company to adjust the existing policy to the correct age |
| Carlos Rivera is involved in a two (2) car accident in which he is disabled and Mr. Rivera's passenger and the other driver are injured. Which of the following would most likely be covered by Mr. Rivera's disability income policy? | His lost of income |
| Which of the following types of insurance policies combines several types of benefits and provides more coverage than the others? | Comprehensive medical expense |
| The "time of payment of claims" provision requires that an insurance company pay disability income benefits no less frequently than? | monthly |
| Which of the following benefits, if any, may be taxed like wages by the Internal Revenue Service? | None of the above |
| He policy provision that prevents an insurance company from altering its agreement with a policy owner by referring to documents or other items not contained in the policy is called the? | Entire contract provision |
| A policy owner may have which of the following rights under an accident and sickness policy? | Selection of beneficiaries |
| Which of the following statement about a conditional receipt is true? | It is an interim insuring agreement |
| If the owner is not entirely satisfied with the policy issued, she may return it to the insurance company and receive a refund of premium at which of the following time? | Within a specified period from the date the owner receives the contract (grace period) |
| What is a conditional receipt? | the coverage begins on the date the insured receives the conditional binding receipt. |
| Which of the following accident and health policies would provide reimbursement for medical expenses incurred as the result of a broken leg? | Medical reimbursement policy |
| Policy deliver refers to the delivery of the? | Completed insurance policy to the owner |
| The coverage provided by an employer for disability income that does not pay benefits for losses occurring as the result of the insured's employment is called? | Non-occupational coverage |
| Which of the following statements about the time limit on certain defenses provision is true? | It may prohibit an insurance company from denying a claim on the basis of misstatements in an application |
| The section of a health policy that states the causes of eligible loss under which an insured is to be covered is the? | Insuring clause |
| What is an insuring clause? | Describes the intent of the policy, just what insurance coverage is provided by the policy and in what limits. |
| Group accident and health insurance normally specifies that what percentage of those eligible must be offered a non-contributory plan? | 100% |
| Jim O'Hara was hospitalized for two () weeks and received a bill for $2,100. He has a major medical policy with a $100 deductible. His coinsurance is eighty percent (80%)/twenty (20%). Mr. O'Hara is expected to pay a total of? | $500 |
| TO be eligible for benefits under the waiver of premium provision, the insured must | Be examined by a doctor |
| The primary purpose of the *coordination of benefits* provision found in group medical expense coverage is to? | Prevent the claimant from profiting from an injury or sickness |
| An individual owns a hospital expense policy and a surgical expense policy. The hospital policy pays $100 a day for hospital room and board and a maximum of $1,000 for miscellaneous hospital room and board and a maximum of $1,000 for miscellaneous hospit | $2,500 |
| An insured's individual health insurance policy was reinstated effective June 8th, the insured became ill, was hospitalized and returned to work June 15th. The insured's policy would provide which of the following? | No benefits |
| The participants in a Blue Cross and Blue Shield planar called? | Subscribers |
| Under a major medical policy, which of the following would usually be considered a covered medical expense? | Heart surgery/An emergency appendectomy/Plastic surgery for burns received in an auto accident |
| Which of the following statements is true about partial disability benefits? | Payment may be based on loss of time, income or function |
| Which of the following statements is usually true about the benefits of a group short-term disability income policy? | They are not payable for accidents covered by workers compensation |
| On delivery of an insurance policy that contains an exclusion rider for past health conditions, an agent must do which of the following? | Explain the rider and the specific exclusions/Obtain the owner's signature on a form |
| Which of the following statements about group insurance is true? | Group insurance is essentially reduced-cost mass protection |
| The purpose of the illegal occupation provision is to | Absolve an insurance company from liability for a loss incurred by an insured during his commission of a felony |
| A forty (40) year old woman is insured under a $500 per month disability income policy that contains a change of occupation provision. After her policy was issued, she changed her occupation from insurance agent to farmer without notifying the insurance c | Less than $500 per month |
| All of the following statements about the cancellation provision in an accident and health policy are true, *except? | That the insurance company may cancel the policy anytime the claims exceed a stated percentage. |
| The owner of an individual medical expense policy has all of the following rights, *except? | Insure additional people |
| All of the following statements about sources of underwriting information are true, *except? | The contents of a credit report can be disclosed to the applicant by the insurer |
| The current commissioner of insurance is? | Ralph Hudgens |
| The commissioner, Hudgens was a member of the Georgia State Senate from? | 2003 to 2011 |
| What are the exemptions? | •Unlawful presence in the U.S. •Membership in a health care sharing ministry •Membership in a federally recognized tribe, or eligibility for services through an Indian health care provider or Indian Health Service •Membership in a recognized religious |
| Customers won't have to pay a fee if they are issued an exemptions for the following reasons? | •Hardship, including lack of affordable coverage using projected income •Lack of insurance coverage for less than three consecutive months between months of coverage (short coverage gap) •Lack of affordable coverage based on actual income •Having incom |
| A person can not be asked to pay more that what percentage for their contribution to CHIP? |
Created by:
tonithetiger100