Georgia Rules and Codes Pertinent to Life Insurance Only — Georgia exam
7.5% of the scored questions — about 6 of 80. This section is Georgia law, the part national study material covers least.
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A Georgia agency publishes an item it regards as educational, and it has the effect of creating public interest in its life products. Is it an advertisement?
Answer and explanation
Answer: B. Rule 120-2-11-.03 reaches material designed to create or having the effect of creating public interest, so effect suffices even where the design was different. There is no exclusion for educational material and no payment element.Source: Ga. Comp. R. & Regs. r. 120-2-11-.03 — 120-2-11-.03, Effect as well as design
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A Georgia agent designs and pays for an advertisement for an insurer's product without telling the insurer. Where does responsibility sit under rule 120-2-11?
Answer and explanation
Answer: C. Rule 120-2-11-.04 makes insurers responsible for all advertisements of their policies regardless of who creates them, which is why the same rule requires a system of control over content, form, and method of dissemination. Lack of knowledge does not shift that responsibility.Source: Ga. Comp. R. & Regs. r. 120-2-11-.04 — 120-2-11-.04, Who may be responsible
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A Georgia counselor advertises advice about existing life policies. Is that within the advertising regulation?
Answer and explanation
Answer: B. Rule 120-2-11-.04 states its scope as any life insurance policy or annuity contract, or service or advice related thereto, and names insurers, agents, and counselors among those it reaches. Licensing requirements apply as well rather than instead.Source: Ga. Comp. R. & Regs. r. 120-2-11-.04 — 120-2-11-.04, Advice related to a policy
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A Georgia insurer receives a Replacement Notice telling it that its existing policy may be replaced, and the policyholder asks for a summary. How long does it have?
Answer and explanation
Answer: C. Rule 120-2-24-.06(5) requires an insurer receiving a Replacement Notice and written communication that its existing insurance may be replaced to furnish a policy summary statement to its present policyholder, if so indicated or requested, within ten working days after receipt. The other periods do not appear in the subsection.Source: Ga. Comp. R. & Regs. r. 120-2-24-.06 — 120-2-24-.06(5), Ten working days
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A Georgia insurer set up an advertising control system some years ago and has not maintained it. Does the rule still bind?
Answer and explanation
Answer: B. Rule 120-2-11-.04 requires each insurer to establish and at all times maintain the system of control. Establishing it once is not enough, the duty does not depend on a problem having surfaced, and it is not limited to insurers using vendors.Source: Ga. Comp. R. & Regs. r. 120-2-11-.04 — 120-2-11-.04, Continuing obligation
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An advertisement for a Georgia insurer's product was written by an independent agency the insurer did not review. Who is responsible under rule 120-2-11?
Answer and explanation
Answer: B. Rule 120-2-11-.04 makes insurers responsible for all advertisements of their policies regardless of who creates them, which is why the same rule requires a system of control. Authorship and distribution do not displace that responsibility, and it does not wait on proof that a consumer was misled.Source: Ga. Comp. R. & Regs. r. 120-2-11-.04 — 120-2-11-.04, Responsibility regardless of author
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An advertisement is prepared outside Georgia but is intended for distribution to Georgia residents. Does rule 120-2-11 apply?
Answer and explanation
Answer: D. Rule 120-2-11-.04 applies where an advertisement is used or is intended for presentation, distribution, or dissemination in this state. Preparation elsewhere and the insurer's domicile do not remove it, and intended use is enough without waiting for actual distribution.Source: Ga. Comp. R. & Regs. r. 120-2-11-.04 — 120-2-11-.04, Material intended for use in the state
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An existing Georgia insurer receives a Replacement Notice, and the policyholder neither indicates nor requests a summary. What does the rule require?
Answer and explanation
Answer: A. Rule 120-2-24-.06(4) requires the receiving insurer to keep copies indexed by the notifying insurer, and (5) ties the ten working day policy summary to the policyholder having so indicated or requested. Records are owed either way; the summary follows the request.Source: Ga. Comp. R. & Regs. r. 120-2-24-.06 — 120-2-24-.06(5), If nothing is requested
All 30 georgia rules and codes pertinent to life insurance only questions
- An insurer is notified that its existing Georgia policy may be replaced. What must it do with the notice?
- An item falls within the regulation's definition of an advertisement and contains a misleading assertion. What follows?
- Does Georgia's advertising regulation reach material about advice or service related to a life policy, rather than the policy itself?
- Does Georgia's advertising rule reach material about an insurer rather than about a policy?
- How broadly does Georgia's advertising regulation define an advertisement?
- How do Georgia's advertising rule and the unfair trade practices statute fit together?
- How do the record-keeping duties of the replacing insurer and the existing insurer differ under rule 120-2-24-.06?
- How long must a Georgia replacing insurer keep the Replacement Notice, the applicant's signed statement, and the replacement register?
- How must a Georgia replacing insurer's replacement register be organized?
- Over what three things must a Georgia insurer maintain control of its advertisements?
- To whom does Georgia's life insurance advertising regulation apply?
- What does Georgia require an insurer to maintain regarding its advertisements?
- What does rule 120-2-24-.06 require an insurer to do about its own people?
- What is Georgia's replacement regulation designed to establish?
- What must accompany each completed Georgia application for life insurance or an annuity?
- When does the existing Georgia insurer's ten working day clock begin?
- Where must a Georgia replacing insurer keep its replacement records?
- Where must the applicant's signed replacement statement appear?
- Which records must a Georgia replacing insurer keep under rule 120-2-24-.06?
- Whom must a Georgia insurer inform about the requirements of the replacement regulation?
- Why does Georgia require a system of control rather than only prohibiting bad advertisements?
- Why does Georgia require both a signed applicant statement and a cross-indexed register?
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