100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Alabama Insurance License- Alabama Insurance Law Common to All Lines Questions and Answers $11.99   Add to cart

Exam (elaborations)

Alabama Insurance License- Alabama Insurance Law Common to All Lines Questions and Answers

 6 views  0 purchase
  • 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 -...

[Show more]

Preview 2 out of 12  pages

  • August 21, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Alabama Insurance License- Alabama Insurance Law
  • Alabama Insurance License- Alabama Insurance Law
avatar-seller
NursingTutor1
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

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller NursingTutor1. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80461 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.99
  • (0)
  Add to cart