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Exam-Alabama Laws and Rules Pertinent to Insurance Part 2 chapter 8 Exam with Complete Solutions
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Exam-Alabama Laws and Rules Pertinent to Insurance Part 2 chapter 8 Exam with Complete Solutions
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Exam-Alabama Laws and Rules Pertinent to InsurancePart 2 chapter 8 Exam with Complete Solutions
In Alabama, an insurer who violates state laws for the payment of insurance commissions
may be fined up to: Correct Answer-three times the amount of the commissions paid
If an individual would like to sell insurance for an insurance company, he/ she must:
Correct Answer-Have passed the state exam for the lines of authority for which licensure is
a sought
Be licensed as an insurance producer
Be appointed by an insurer
All of these*
Alabama's continuing education law states that an insurance producer must report how many
classroom hours every two years? Correct Answer-24
According to Alabama, a minor: Correct Answer-Age 18 can begin receiving life insurance
death benefits of up to 3,000 per year
An insurance producer represents the: Correct Answer-insurance company
, Exam-Alabama Laws and Rules Pertinent to Insurance
Part 2 chapter 8 Exam with Complete Solutions
If an insured commits suicide, a life insurance policy's face amount will be paid only after the
policy has been in force for at least: Correct Answer-Two years
The minimum grace period for a life insurance policy sold in Alabama is: Correct Answer-
30 days
According to Alabama law , agents of Health Maintenance Organizations (HMO): Correct
Answer-Must be licensed as insurance producers
XYZ Insurance Company issued a new life policy to an insured that replaced an existing policy.
XYZ Insurance XYZ Company is considered to be the: Correct Answer-Replacing insurer
An insurance company licensed to do business in Alabama, but incorporated in another state,
is called: Correct Answer-foreign company
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