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ALABAMA LIFE & HEALTH INSURANCE EXAM 2024 | 2 CURRENTLY TESTING EXAM VERSIONS WITH ACTUAL QUESTIONS AND ANSWERS WITH A STUDY GUIDE | EXPERT VERIFIED FOR GUARANTEED PASS | LATEST UPDATE$22.99
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ALABAMA LIFE & HEALTH INSURANCE EXAM 2024 | 2 CURRENTLY TESTING EXAM VERSIONS WITH ACTUAL QUESTIONS AND ANSWERS WITH A STUDY GUIDE | EXPERT VERIFIED FOR GUARANTEED PASS | LATEST UPDATE
ALABAMA LIFE & HEALTH INSURANCE EXAM 2024 | 2
CURRENTLY TESTING EXAM VERSIONS WITH ACTUAL
QUESTIONS AND ANSWERS WITH A STUDY GUIDE | EXPERT
VERIFIED FOR GUARANTEED PASS | LATEST UPDATE
ALABAMA LIFE & HEALTH INSURANCE EXAM 2024 | 2 CURRENTLY TESTING EXAM VERSIONS WITH ACTUAL QUESTIONS AND ANSWERS WITH A STUDY GUIDE | EXPERT VERIFIED FOR GUARANTEED PASS | LATEST UPDATE Which of the following statements regarding a life insurance policy is true: An issued policy can never be changed An issued policy can be changed by an authorized company officer without the policy owner knowing An issued policy can never be changed by a producer A policy can be changed by a producer if the policy owner requests the change in writing An issued policy can never be changed by a producer Which dividend option allows a policy owner to use his/her dividends to buy life insurance on a single premium basis? Premium reduction option Single premium option Paid up additions option Cash option Paid up additions option The Notice of Claim Provision states that the insured notify the insurance company within _ days of a claim. 7 10 20 31 20 A life insurance policy owner has just exercised the policy's reduced paid up option. Which of the statements is true? The amount of coverage will be much less than the original coverage The premiums will be higher than the original policy The policy's cash value will stop accumulating The premiums will be lower than the original policy The amount of coverage will be much less than the original policy. Carol is a life insurance policyowner who has transferred her ownership to a third party in exchange for a percentage of the death benefit. What is this called? Ownership transfer option Viatical settlement agreement Accelerated benefit agreement Spendthrift option Viatical settlement agreement Which of the following is a true statement regarding dental insurance? Comprehensive dental care policies usually cover a percentage of reasonable and customary changes for non routine treatment Comprehensive dental care policies usually cover ALL reasonable and customary charges for non routine treatment Comprehensive health benefit plans always include dental insurance Specialized dental care is usually covered with the same maximums and deductibles as routine dental treatments Comprehensive dental care policies usually cover a percentage of reasonable and customary changes for non routine treatment Replacement regulation in Alabama does NOT apply to: Decreasing term insurance Adjustable life insurance Universal life insurance Credit life insurance Credit life insurance The withholding of facts in an insurance application is called: Fabrication Concealment Misrepresentation Omission Concealment The agreement between a producer and the insurance company specifies the authority given to a producer to act on behalf of the insurer. This is called: Apparent authority Stated authority Implied authority Expressed authority Expressed authority Which of the following is NOT guaranteed by a whole life policy? Face amount Cash value accumulation Premiums Policy dividends Policy dividends According to Required Provision 4, when an insured applies for reinstatement of a health policy and receives a conditional receipt. How long does the insurer have to approve or deny? Within 15 days of the cancellation date Within 30 days of the applicant receiving the conditional receipt Within 45 days of the date of application Within 90 days of the policy being cancelled Within 45 days of the date of application Which type of life insurance policy combines insurance protection with an accumulation of cash value? Interim insurance Permanent insurance Bilateral insurance Temporary insurance Permanent insurance The automatic premium loan provision is not used in which of the following policies? Whole life policy Increasing term policy 20-year endowment policy Limited pay policy Increasing term policy Ed has an insurance policy with an insurance company. Before Ed's policy will pay a claim, certain events must occur. Because of this, an insurance policy is considered to be: Unilateral Conditional Aleatory Guaranteed Conditional A preferred provider organization (PPO) contract typically uses which payment arrangement? Negotiated fee for service Capitation Closed panel Prepaid basis Negotiated fee for service What is vesting? The employers right to limit contributions to a pension plan The employers right to the employee's contributions in a retirement plan if employment terminates prior to retirement The employees right to the employers contributions in a retirement plan if employment terminates prior to retirement The employers right to invest in any investment vehicle they choose The employees right to the employers contributions in a retirement plan if employment terminates prior to retirement A husband and wife purchase a life insurance policy that covers both of them. The policy paid nothing when the husband died. Two years later, the wife dies and a death benefit is paid to the
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