Alabama State Licensing Insurance Exam Questions and Answers 100% Accurate
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Course
Alabama State Licensing Insurance
Institution
Alabama State Licensing Insurance
An applicant who fails two examinations for the same line of authority must wait how long to take another examination for that line of authority - ANSWER-3 months
Payments for losses that cannot be precisely measured, such as the loss of companionship of spouse from another, are called ____. - A...
Alabama State Licensing Insurance Exam
Questions and Answers 100% Accurate
An applicant who fails two examinations for the same line of authority must wait how
long to take another examination for that line of authority - ANSWER-3 months
Payments for losses that cannot be precisely measured, such as the loss of
companionship of spouse from another, are called ____. - ANSWER-General damages
Transfering is a method of handling risk. Which of the following best describes the
concept of transfer - ANSWER-Purchasing insurance
Which of the following terms indicates that an insurance contract contains the
enforceable promises of only one party - ANSWER-Unilateral
Dennis purchased a small manufacturing firm and wants to purchase coverage for the
premiums-operations and products-completed operations exposures. Which of the
following types of insurance should he purchase - ANSWER-Commercial general
liability
With regard to insurance, risk can be defined as - ANSWER-Uncertainty of financial loss
Which department within an insurance company organization is typically responsible for
helping to cover the insurers exposed loss - ANSWER-Reinsurance department
Joanne and Steven have a plied for automobile insurance with ABC auto insurance.
When the agent asked if anyone else drives a car they lied and do not tell him that your
neighbor George who lost his drivers license due to drunk driving uses one of their cars
on a regular basis to drive to work. Once the company found how about George after he
had an accident they denied the claim siding with legal concepts as a reason -
ANSWER-Fraud
All the following are optional property coverage is under business owner policies -
ANSWER-Money and securities
Mechanical breakdown
Outdoor signs
In Alabama, the Commissioner of Insurance is - ANSWER-Appointed by the governor
and serves a rearm concurrent with that of the governor
For an injury producing temporary total disability under Worker's Compensation the
compensation is what percentage of the employees average weekly earnings at the
, time of the injury subject to a maximum and minimum weekly compensation specified in
the law - ANSWER-66-2/3%
Aviation physical damage coverage also known as aircraft hull insurance covers all of
the following - ANSWER-Controls
Electronic navigation
Engines
These are the following things that are not covered by jewelers block coverage -
ANSWER-Property being worn by the insured
Property exhibited in a showcase away from the premises
Property in transit by mail
The face amount of insurance provided by an industrial fire policy covering buildings
under the same ownership may not exceed what amount for a weekly policy -
ANSWER-$7,500.00
A binder is not valid be on the insurance of the policy for which it was given or Beyond
how many days - ANSWER-90
What is the maximum amount that the business owner policy will pay for property
damage to an outdoor sign not attached to a building - ANSWER-$2,500
Which of the following amounts is the maximum that an insurer will pay in case of a loss
- ANSWER-Limit of liability
The insured is looking for the amount of coverage in a property and casualty policy. This
information is found in the - ANSWER-Declaration
Comprehensive coverage pays for all the following damages - ANSWER-Explosion
Hitting a deer
Glass breaking
In a climate liability policy the specific date shown in the declarations indicating the first
aid events are covered by the policy is called its - ANSWER-Retroactive dates
Self insurance is an example of what type of risk management - ANSWER-Retention
Which of the following is a type of surety bond - ANSWER-Bid
Performance
Fiduciary
Coverage for Worker's Compensation may be obtained from all the following -
ANSWER-Private insurance
Self insurance
The federal employers liability act
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