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Alabama Life and Health Insurance Final Exam Practice Questions and Answers [] (Verified by Expert) CA$15.14   Add to cart
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Alabama Life and Health Insurance Final Exam Practice Questions and Answers [] (Verified by Expert)
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Alabama Life and Health Insurance Final Exam Practice Questions and Answers [] (Verified by Expert) Alabama Life and Health Insurance Final Exam Practice Questions and Answers [] (Verified by Expert)

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Document information

  • August 24, 2023
  • 17
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • alabama life and health insurance final exam pract
  • alabama life and health insurance final exam
  • alabama life and health insurance
  • alabama life insurance final exam
  • final exam alabama life insurance

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  • Alabama Life and Health Insurance
  • Alabama Life and Health Insurance

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LectJohn

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Alabama Life and Health Insurance Final Exam
Practice Questions 2023 - 2024 (Verified)
1.The minimum grace period for a life insurance policy sold in Alabama is ANS 30 days
2.Alabama's annuity disclosure regulation ANS Requires the delivery of a
buyer's guide and a disclosure document to annuity applicant
3.An insurer pays a large claim for medical expenses after the insured has only made one premium payment. This is an example of an ANS Aleatory contract
4.Which of the following is NOT guaranteed by a whole life policy? ANS policy dividends
5.Any individual who has failed two Alabama insurance licensing examina- tions must wait how long before retaking it a third time? ANS 3 months .When an estate is named beneficiary to a life insurance policy, the policy proceeds are ANS distributed according to state law
7.Which of the following statements concerning a life insurance policy is TRUE? ANS an issued policy can never be changed by a producer
8.Julio, the insurance producer, has allowed his license to lapse. He would like to reinstate his licenses without retaking a pre license course or passing a written examination. To do this, Julio must reinstate the license within months from the renewal date. ANS 12 months
9.Janet is retired and looking to invest a lump-sum of money through an insurance company. Which product would be best suited for this? ANS annuity
10.Tina has an insurance policy with a 10-day free look provision. Which of these statements is correct? ANS Her policy can be returned for 100% refund of the premium within 10 days from the date the policy is delivered
11.A collateral assignment allows a policy owner to assign ANS A portion of the policy proceeds to the assignee
12.A licensed Alabama insurance producer would NOT be disciplined by the Commissioner of Insurance for ANS Being convicted of a misdemeanor
13.What is a defined benefit plan? ANS a retirement plan that promises a specified benefit to the employee at retirement
14.Which of these is NOT considered a form of advertisement in Alabama? ANS A producer sending a Christmas card to a client
15.Buying land with the anticipation of it going up in value is an example of ANS Speculative risk
16.If an individual would like to sell insurance for an insurance company
, he/she must
A.Have passed the state exam for the lines of authority in which licensure is sought
B.Be licensed as an insurance producer

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