Exam (elaborations)
Alabama State Insurance Exam Questions with 100% Correct Answers
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Alabama State Insurance Exam Questions with 100% Correct Answers
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1 of 148Definition
Annuities have two basic stages. They are called what?
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Accumulation Period and
Blackout Period.
Income Period
The Accounts Earn no Interest Cost of Living Adjustment
, Don't know?
2 of 148
Definition
Under the typical Coordination of Benefits Clause in Group Health
Insurance, how is primary coverage determined?
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The wife's policy is always Primary coverage is determined by
considered primary in all situations. the age of the insured.
The husband's policy is
The policy with the highest premium
primary and the other is
is automatically primary.
excess
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3 of 148
Definition
According to Required Health Policy Provisions, the insured is
prevented from filing suit against the insurer for at least
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, no time limit exists for filing suit 30 days from the date of proof of
against the insurer. loss.
60 days and not longer than
one year from the date of the policy
three years from the date of
issuance.
proof of loss
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4 of 148
Definition
All Health Insurers must pay claims as prescribed by Alabama law.
Which of these statements is FALSE?
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insurers are required to provide
. Insurers may decide which
claim forms to policyholders upon
claim forms they will accept
request.
insurers must accept all claim forms insurers can only accept claim forms
submitted by policyholders. that are notarized.
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5 of 148
Definition
, Which of the following is CORRECT concerning the payment of
commissions for insurance in Alabama?
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Insurers can pay commissions in any Any verbal changes made by the
form, including gifts and services. agent are permissible if in writing.
An insurer who violates the
Alabama rules on commission Insurance agents must receive a
payments may be fined up to commission for every policy sold,
three times the amount of the regardless of state regulations.
commissions paid.
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6 of 148
Definition
The usual payment arrangement under a Preferred Provider
Organization (PPO) contract is
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reimbursement to the individual
a negotiated fee-for-service.
subscriber.
a viatical settlement agreement reinsurance.
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