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Life and Health Insurance Producer Exam

Replacement (GA): practice questions

Our Life & Health Insurance bank has 4 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Georgia

When an agent's life insurance sale involves replacement, when must the Replacement Notice be presented to the applicant?

  1. Within 10 days after the new policy is delivered to the client
  2. Only if the existing insurer asks for it in writing
  3. No later than at the time the application is taken
  4. Before the existing policy's next premium due date
Show the answer

C. No later than at the time the application is taken — Ga. Comp. R. & Regs. 120-2-24-.05(2)(a).

Question 2 · Georgia

Georgia's Replacement Notice tells the applicant that after receiving an individual life policy, the applicant has how many days to return it for a full refund?

  1. 20 days
  2. 30 days
  3. 10 days
  4. 7 days
Show the answer

C. 10 days — Ga. Comp. R. & Regs. 120-2-24-.08, Exhibit A (Items to Consider).

Question 3 · Georgia

Within what time must a replacing insurer mail the Replacement Notice and written notice to the existing insurer?

  1. Within 10 working days, but only if the applicant checked the policy-summary box
  2. Within 30 calendar days after the new policy's free-look period has expired
  3. Within 3 working days of receiving the application or issuing the policy, whichever is sooner
  4. Within 60 days, as part of the insurer's quarterly replacement register filing
Show the answer

C. Within 3 working days of receiving the application or issuing the policy, whichever is sooner — Ga. Comp. R. & Regs. 120-2-24-.07(2)(b).

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