Alabama Life Exam 2024 Expected Questions and Answers (Verified by Expert)
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Course
Alabama Life & Health Insurance
Institution
Alabama Life & Health Insurance
Alabama Life Exam 2024 Expected Questions and Answers (Verified by Expert)
Alabama Life Exam 2024 Expected Questions and Answers (Verified by Expert)
Alabama Life Exam 2024 Expected Questions and Answers (Verified by Expert)
Final exam Alabama life insurance.pdf file:///C:/Users/Admin/Downloads/Final%20exam%20Alabama%20
Alabama Life and Health Insurance Final Exam
Practice Questions
1. The minimum grace period for a life insurance policy sold in Alabama is ANS 30days
2. Alabama's annuity disclosure regulation ANS Requires the delivery of a buyer'sguide 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 policydividends
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
6. When an estate is named beneficiary to a life insurance policy, the policyproceeds are
ANS distributed according to state law
7. Which of the following statements concerning a life insurance policy isTRUE? ANS an
issued policy can never be changed by a producer
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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 passinga 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 thepremium within 10 days
from the date the policy is delivered
11. A collateral assignment allows a policy owner to assign ANS A portion of thepolicy
proceeds to the assignee
12. A licensed Alabama insurance producer would NOT be disciplined by theCommissioner of
Insurance for ANS Being convicted of a misdemeanor
13. What is a defined benefit plan? ANS a retirement plan that promises a specifiedbenefit
to the employee at retirement
14. Which of these is NOT considered a form of advertisement in Alabama? ANS Aproducer
sending a Christmas card to a client
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15. Buying land with the anticipation of it going up in value is an exampleof 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 issought
B. Be licensed as an insurance producer
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