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GEORGIA LIFE AND HEALTH INSURANCE EXAM
2025 LATEST TEST BANK WITH 750 EXAM PREP
QUESTIONS AND CORRECT ANSWERS/ GA LIFE &
HEALTH INSURANCE TEST 2025 (NEWEST!)
What is not a requirement for becoming a licensed agent in Georgia - ANSWER- High school graduate
In Georgia an accident and sickness policy that is paid on a quarterly basis requires a grace period of - ANSWER-31 day's
Q is hospitalized for three days and receives a bill for $10,100. If Q has a major medical policy with a $100 deductible and 80/20 coinsurance. How much will Q be responsible for paying of this claim - ANSWER-$2,100, 10,000 x 20% = 2000
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T would like to be assured $10,000 is available in 10 years to replace a roof on his house. What kind of $10,000 policy should T purchase? - ANSWER-Ten-Year Endowment
In Georgia which of the following is considered an unfair trade practice - ANSWER-coercion
How often must an insurance agent license be renewed in Georgia - ANSWER- Every 2 years
Two partners own equal shares in a business worth a total of $1 million if they both commit to the purchase of a life insurance policy That will fund a buy sell 1 / 4
pg. 2 agreement, which of the following is true - ANSWER-Each partner owns a $500,000 policy on their partners life
A(n) _____ Contained in a life insurance policy states that the policy will not cover certain risks - ANSWER-Exclusion
The consideration clause in a life insurance policy indicates that a policy owner is consideration consists of a completed application - ANSWER-Initial premium
The provision in a Life insurance policy that provides protection against
unintentional policy lapse is known as the: - ANSWER-Automatic Premium Loan
provision
A client applied for Life insurance on October 1st. The application was approved and the policy was issued on October 10th. It was delivered to the customer on October 18th. When did the Free Look start? - ANSWER-October 18th
At age 30, Tom Morris wishes to purchase a Whole Life policy. His producer explains that he can pay for the policy in several ways. One method is called 20- Pay Life, and another, Straight Life. Tom wishes to know which plan will accumulate cash value at a faster rate in the early years of the policy. Which of the following would be the producer's most appropriate response? - ANSWER-"20- Pay Life will accumulate cash value faster."
Sandra Timms, age 27, is advised by her producer to purchase Life insurance to cover a 20-year-amortized $50,000 business-improvement loan. Which of the following plans would adequately protect Ms. Timms at the minimum premium outlay? - ANSWER-A $50,000 Decreasing Term policy for 20 years
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pg. 3 In Georgia, which of the following statements is correct about life insurance advertisement - ANSWER-And insurance agency is responsible for advertisements placed by its insurance agents
S filed a written proof of loss for disability income claim on September 1. The insurance company did not respond to the claim. Ask and take legal action against the insurer beginning - ANSWER-November 1, the insured must wait 60 days after written proof of loss before legal action can be brought against the company
In Georgia how long is the free look period - ANSWER-10 days
Which of these statements is incorrect regarding a preferred provider organization PPO - ANSWER-PPOs are not a type of managed care systems
Why must an insurance applicant answer all questions on the application - ANSWER-Statements and representations on the application are part of the consideration for issuing a policy
A policy owner would like to change the beneficiary on an accidental death and dismemberment insurance policy and make the change permanent. Which type of designation would fulfill this need - ANSWER-Irrevocable
If a client wants cash value life insurance with a flexible premium and an adjustable death benefit that will allow the policy owner a choice of various cash
value investment options, he should buy: - ANSWER-Variable/Universal Life
Which of the following statements is true about the premium payment schedule for a Whole Life policy? - ANSWER-Premiums are payable throughout the insured's lifetime, and coverage continues until the insured's death
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Dividend projections may be included in a proposal for Life insurance: -
ANSWER-When there is a clear statement that they are not guaranteed
An insured died during the Grace Period of her Life insurance policy and had not paid the required annual premium. The insurance company is obligated to pay which of the following to the beneficiary? - ANSWER-The face amount of the policy less any earned premiums
What Life insurance policy provision applies if a policy lapsed last year and the insured wants it back? - ANSWER-Reinstatement
Which of the following is a Non-forfeiture Option that provides continuing cash value buildup? - ANSWER-Reduced Paid-Up
Which of the following Settlement Options might provide payments that exceed the proceeds of the policy and the interest earned? - ANSWER-Life Annuity
If the insured dies 5 years after he bought a Life insurance policy and the insurer determines that there was material misrepresentation on his application, they will: - ANSWER-Pay the claim
A beneficiary designation that prevents the policy owner from making certain
changes in the policy is: - ANSWER-Irrevocable
An insurance company will grant an advance from the cash value of a Life insurance policy when the policy owner requests which of the following? - ANSWER-A policy loan
Which of the following statements is true about exercising a Guaranteed
Insurability option:
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