Alabama Insurance License- Alabama Insurance Law Common to All Lines Questions and Answers
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Course
Alabama Insurance License- Alabama Insurance Law
Institution
Alabama Insurance License- Alabama Insurance Law
Alabama Insurance License- Alabama Insurance Law Common to All Lines Questions and AnswersAlabama Insurance License- Alabama Insurance Law Common to All Lines Questions and AnswersAlabama Insurance License- Alabama Insurance Law Common to All Lines Questions and Answers
Cease and desist - ANSWER -...
Alabama Insurance License- Alabama
Insurance Law Common to All Lines
Questions and Answers
Cease and desist - ANSWER - to stop or discontinue
Coercion - ANSWER - the practice of persuading someone to do something by using force or
threats
Commission - ANSWER - payment to the agent by the insurance company for placing
insurance, usually a percentage of the policy premium
Commisioner - ANSWER - the head of the state department of insurance
Disclosure - ANSWER - revealed information to help someone make an intelligent and educated
decision
Exempt - ANSWER - not subject to a duty or obligation
Home state - ANSWER - a state in which an insurer is organized and has its main place of
business
Producers - ANSWER - are individuals or business entities that are required to be licensed to
sell, solicit, and negotiate insurance in this state. The license must be for the class of insurance
that a producer intends to sell or solicit.
To be eligible for a producer license you must meet these requirement - ANSWER - -Be at least
18 years old
-Complete the required prelicensing education (20 hours per line of authority or 40 hours for a
combined license)
, Pass each examination which is required for the license being sought (examination certificates
are valid for 1 year from the date of completion);
Pay the required fee;
Have not committed any act which is a ground for denial, suspension, or revocation of a license.
Types of Licensees - ANSWER - 1) Producers -are individuals or business entities that are
required to be licensed to sell, solicit, and negotiate insurance in this state. The license must be
for the class of insurance that a producer intends to sell or solicit.
Inducement - ANSWER - an offer that attempt to influence the other party
Reciprocity - ANSWER - a mutual interchange of rights and privileges
Subpoena - ANSWER - an order for someone to appear as a witness or submit testimony or
evidence
Surplus Lines Insurance - ANSWER - insurance that is not available from admitted insurers
Lines of Authority - ANSWER - 1)Life Line
2)Property Lines
3)Other Lines
2) Nonresidents -A person who is not a legal resident of Alabama may be licensed to act in this
state as a nonresident producer without taking a written examination, if the following conditions
are met:
3)Temporary -License given temporarily for special circumstances such as death ,
disabled ,active service in the armed forces
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