Alabama Life and Health Insurance Exam Practice Questions and Answers
4 views 0 purchase
Course
Alabama Insurance
Institution
Alabama Insurance
Alabama Life and Health Insurance Exam
Practice Questions and Answers
what law protects consumers from the circulation of inaccurate or obsolete
information? - Answer️️ -The Fair Credit Reporting Act
Insurers are classified according to their domicile. What are the 3 types of
insurers? - A...
Alabama Life and Health Insurance Exam
Practice Questions and Answers
what law protects consumers from the circulation of inaccurate or obsolete
information? - Answer✔️✔️-The Fair Credit Reporting Act
Insurers are classified according to their domicile. What are the 3 types of
insurers? - Answer✔️✔️-domestic, foreign, and alien
what type of insurer is a voluntarily formed organization that provides
religious organizations with a representative form of government? -
Answer✔️✔️-Fraternal insurer
the type of insurance company organized to return any surplus money to
its policyholders is known as what? - Answer✔️✔️-mutual company
when agents act within the scope of their contract, their actions will be
assumed to be the actions of whom? - Answer✔️✔️-Insurer
what is the name of the process that insurance companies use to determine
if an applicant is insurable? - Answer✔️✔️-underwriting
if an insurer needs to obtain information about the applicant from
investigators, what is the insurer required to do? - Answer✔️✔️-provide the
aplicant with a Disclosure Authorization Notice
what type of insurer is formed under the laws of another country? -
Answer✔️✔️-Alien
when risks with higher probability of loss are seeking insurance more often
than other risks, is known as what? - Answer✔️✔️-adverse selection
when does an insurance policy go into effect? - Answer✔️✔️-when to policy
is delivered and the premium is paid.
according to the Law of Agency, a principal is represented by whom? -
Answer✔️✔️-an agent or producer
what type of risk is insurable? - Answer✔️✔️-pure
who owns stock companies? - Answer✔️✔️-stockholders
what entities make up the Medical Information Bureau? - Answer✔️✔️-
Insurers
when a change needs to be made on the application for insurance, which is
the best method for correcting the information? - Answer✔️✔️-complete a
new application of ask the applicant to initial the correction on the original
application
in order to transact insurance within a given sate, an alien insurer must
first obtain what? - Answer✔️✔️-Certificate of Authority
Insurance is a contract that protects the insured from what? - Answer✔️✔️-
Loss
in insurance, when is the offer usually made on a contract? - Answer✔️✔️-
when the application is submitted
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
