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44 Cards in this Set

  • Front
  • Back

In GA the Insurance Commissioner is...

Elected for 4 Years

If the Commissioner is absent or becomes disabled, the duties are fulfilled by...

The Chief Deputy Commissioner

Before new rules or regulations made by the Commissioner become effective, they must be on file as a matter of public record for at least...

10 days

Domestic insurers must be examined by the commissioner at least once every...

3 years

A request for a hearing must be made within at least _______________ after the commissioner's order on a hearing has been mailed or delivered.

30 Days.

Proper notice of a hearing must be given by a Commissioner at least how many days in advance?

10 days.

The Commissioner's ORDER on a hearing must be issued within how many days after the hearing is concluded?

30 days.

The document that indicates that an insurer has been approved and is authorized to transact insurance in GA is know as?

Certificate of Authority

A reciprocal insurer in the state of GA is not permitted to transact...

life insurance

If an application for Certificate of Authority is turned down, what is the Commissioner required to do?

Issue a written order stating the grounds for the disapproval.

What are the reasons for refusal, suspension, or revocation of a Certificate of Authority?

1. Failure to comply with rules and regulations made by the Commissioner

2. refusal to be examined.

3.unsound financial condition

What is the amount of the bond that the Chief Deputy must execute which will be conditioned upon the faithful performance of the Chief Deputy's duties while in office?


In GA, who is required to obtain a license issued by the Insurance Commissioner?

An Insurance Agent

an insurance subagent

an insurance counselor

An independent insurance adjuster represents?

The insurer

A temporary license is issued for a period of _______, and may be extended by the Commissioner for additional periods of 3 months, but only up to a mac license period of __________.

6 months / 15 months

The premium for "controlled business" which a licensee is permitted to transact in any calendar year must be less than ____________ of total premiums on all business transacted.


Who is exempt from the written examination requirement?

A nonresident applicant

an applicant who has earned the CPCU designation

an applicant who has earned the CIC designation

Continuing education hours required for some who has been licensed less than 20 years is

24 hours

An inactive license for an agent who does not currently have authority to represent any insurer will be revoked after it has remained inactive for ...

2 consecutive years

If a license is revoked, the licensee must wait at least how long before being eligible to file application for a new license?

5 years!

What is defamation?

Issuing false statements which are maliciously critical and intended to injure a person engaged in the insurance business AND is prohibited

What is twisting?

Making statement with misrepresent an insurance policy in order to induce an insured to replace the contract with one issued by another carrier AND is prohibited

Generally, it is unlawful to engage in unfair discrimination between individuals or risks of the same class and essentially the same ________ insured against.


What is true about rebates

It is unlawful to pay or accept a rebate.

Prohibited inducements include anything of value not specified in the insurance contract.

When can an insured charge amounts in excess on the premium?

1. Interest charges on unpaid premiums more than 30 days past due

2. Expenses charged by a life insurer for the cost of a medical examination

3. Taxes charge by a surplus line broker

Notice of a hearing on alleged unfair trade practices must be served at least how many days before the hearing may be held?

15 days

A fine of up to _________ may be imposed for each violation of a cease and desist order while the order is in effect.


All of the following are true about a court review of a case involving trade practices

1. the court may issue a restraining order

2. if sustained by evidence, the commissioners findings on facts shall be accepted as final.

3. the court may issue orders and decrees

What is true about a property and casualty binder?

1. It may be made orally.

2. It may not be issued for a period greater than 90 days

3. It is not valid after the policy effective date

Statements made in an application are deemed to be:


An omission on an insurance application may prevent recovery under the policy when:

it was made with fraudulent intent

The 3 primary goals of rate regulation are to make sure that insurance rates are NOT

1. Excessive

2. Inadequate

3. Unfairly discriminatory

For commercial property and casualty policies issued in GA, notice of cancellation for nonpayment of premium must be given at least:

10 days in advance

After a commercial property or casualty policy has been in effect for more than 60 days in GA, notice of cancellation by the insurer for reasons other than non payment of the premium must be given at least

45 days in advance

In the case of a paid loss, who is entitled to the salvage under the Standard Fire Policy?

The insurer.

All licenses must promptly notify the commissioner in writing within _________ days of any change in the business address.

30 days

Employers with FEWER than __________ employees are exempt from the state workers compensation act


What is the medical limit for an employee under the GA workers comp act?

There is no limit!

How long can a temporary total disability payments be paid to an injured employee?

400 weeks

How long are payments made to an employee who has suffered a permanent total disability injury?

Payments continue for the duration of the disability!

What is the maximum penalty per violation if a person willingly and intentionally makes any false or misstatement for the purpose of obtaining or denying benefits or payment of works compensation coverage?


An applicant for GA insurance license must be a resident of GA who will reside and be present within the state for at least ____ of every year

6 months

an applicant for a public adjuster license is required to have filed a bond with the commissioner for the amount of


All licensees are required to notify the Commissioner within ____________ of any arrest, charge, sentence, or conviction on any felony or crime involving moral turpitude.

60 days.