A. 10-pay life policy correct answers Which policy accumulates cash value at the fastest rate?
Estoppel correct answers The legal doctrine that prevents one from exercising a right of privilege is called
contains a grace period. correct answers If the consideration clause states that the prem...
Alabama State Insurance Exam || very Flawless.
A. 10-pay life policy correct answers Which policy accumulates cash value at the fastest rate?
Estoppel correct answers The legal doctrine that prevents one from exercising a right of privilege
is called
contains a grace period. correct answers If the consideration clause states that the premium payment keeps the policy in force until the next premium is due plus 30 days thereafter, the policy
The Commissioner can immediately cancel the producer's license based upon the Company's allegation of wrong doing by the producer. correct answers If an insurance carrier decides to cancel a producer's appointment, each of the following is true EXCEPT:
All premiums paid by the policyholder during the waiting period are typically refunded. correct answers Under the waiver of premium provision of a life insurance policy, if a disability proves total and permanent, what happens to any premiums paid by the policyowner during the waiting period
Foreign correct answers A company chartered in Alabama would be considered what type of insurance company in Ohio?
Any verbal changes made by the agent are permissible if in writing. correct answers The Entire Contract Provision stipulates each of the following EXCEPT:
the premium will be higher than for a normal risk. correct answers If the insurance company accepts a special class risk
the insurer is not liable for claims arising under the conditions described in these provisions. correct answers The Optional Provisions of a standard Health policy address the issue of claims arising from "illegal occupations," "commission of felonies," and "use of narcotics." According to these provisions
General information about the applicant. correct answers The application has two parts. Part 1 is?
. Insurers may decide which claim forms they will accept correct answers All Health Insurers must pay claims as prescribed by Alabama law. Which of these statements is FALSE?
$49,500, which is the face amount less the premium owed. correct answers Darlene dies without having paid the $500 premium on her $50,000 policy that was due a week before her death. With
no outstanding policy loans, Darlene's beneficiary can expect to receive
only the company correct answers Legally, who does an insurance agent (producer) represent? The benefits are non-taxable to the employee, but the premiums are taxable as remuneration to the employee. correct answers Benefits paid under an employer-paid Group Health Insurance policy are?
conversion privilege correct answers When a dependent child covered under the parents' major medical policy reaches the limiting age, what is the provision that allows the child to purchase his or her own policy without establishing insurability?
The company will pay only the amount of insurance that Jonas' premiums would have purchased at his correct age. correct answers When Jonas died, it was discovered that he was actually six years older than he had claimed when applying for an insurance policy. Upon his death what will
the insurance company pay?
all of the above correct answers If you qualify for COBRA, coverage under the group health plan
. Represent the State of Alabama in any legal proceedings. correct answers The duties of the Alabama Insurance Commissioner include all of the following EXCEPT:
cannot be replaced as beneficiary without his consent correct answers If Todd has been named the irrevocable beneficiary of a life insurance policy, he
One party writes the contract and the other party must accept or reject the contract as written. correct answers Why are insurance contracts said to be contracts of adhesion?
Both of the above. correct answers How can 'Key Employee' disability income insurance purchased by a business be used by the business?
an airline insuring the lives of its passengers. correct answers All of the following are examples of insurable interest EXCEPT:
The person named to receive the sum specified in a life insurance contract when the insured dies.
correct answers A beneficiary is always which of the following?
A periodic income to the annuitant for life correct answers A straight life annuity provides which
of the following?
promises a specified payment to the plan by the employer correct answers A defined contribution
plan
All of the above are correct.
-Each instance of violation is considered as a separate offense.
-Each violation is punishable as a misdemeanor.
-Each violation, upon conviction, may result in both fines and hard labor correct answers Which of the following is TRUE concerning willful violations of Alabama insurance regulations?
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