Ga life - Study guides, Class notes & Summaries

GA Life and Health Exam Questions and Answers 100% Pass Policyholders elect the governing bodies of which of the following types of insurance companies? - Correct Answer ️️ -Mutual An insurance agent is in violation of the Rules Governing Advertisement of Life Insurance and Annuities if the agent takes which of the following actions during a sales presentation? - Correct Answer ️️ -Refers to guaranteed policy dividends An insurance agent is guilty of twisting if the agent - Correc...

Who elects the governing body of a mutual insurance company? - correct answer policyholders What year was the McCarran-Ferguson Act enacted? - correct answer 1945 A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: - correct answer a fraternal benefit society The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - corr...

Which of the following is TRUE if the owner of an IRA names their spouse as beneficiary, but then dies before any distributions are made? - the account can be rolled into the surviving spouse's IRA T and S are named co-primary beneficiaries on a $500,000 Accidental Death and Dismemberment policy insuring their father. Their mother was named contingent beneficiary. Five years later, S dies of natural causes and the father is killed in a scuba accident shortly afterwards. How much of the deat...

GA Life and health Exam Questions and Answers 100% Pass the existing policy is kept in force and an additional policy is purchased from the same company - Correct Answer ️️ -Georgia's Replacement Rule applies to all of the following situations EXCEPT Waiver of premium - Correct Answer ️️ -A life insurance policy which ensures that the premium will be paid if the insured becomes disabled has what kind of rider attached? Premiums are Waived if the Payor becomes Disabled - Correct A...

GA Life Insurance Exam Already Rated A+ Who elects the governing body of a mutual insurance company? ️policyholders What year was the McCarran-Ferguson Act enacted? ️1945 A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: ️a fraternal benefit society The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: ️re...

GA Life/Health Ins Exam Questions with 100% Correct A claiment wants to bring a recovery action against an insurance company for a loss claimed under a policy. The action must be brought a) Within 2 years. b) Within 3 years. c) Immediately. d) Only within 60 days. - Correct Answer ️️ -b) Within 3 years. Some states require a provision limiting the time parameters in which a claimant may seek recovery from an insurer under a policy. Georgia requires legal action to be brought forth ...

Attained Age - Answer-insured's age at the time the policy is issued or renewed. Cash Value - Answer-A policy's savings element or living benefit. Face Amount - Answer-The amount of benefit stated in the life insurance policy. Fixed life insurance - Answer-contracts that offer guaranteed minimum or fixed benefits. Deferred - Answer-with-held or postponed until a specified time or event in the future. Endow - Answer-the cash value of a whole life policy has reached the contractual face amo...

Who elects the governing body of a mutual insurance company? - Answer-policyholders What year was the McCarran-Ferguson Act enacted? - Answer-1945 A nonprofit incorporated society that does not have capital stock and operates for the sole benefit of its members is known as: - Answer-a fraternal benefit society The stated amount or percent of liquid assets that an insurer must have on hand that will satisfy future obligations to its policyholders is called: - Answer-reserves What is the nam...

GA Life Insurance Exam

GA Life/Health Insurance Exam Questions And Verified Answers