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Chapter exam- Alabama laws and rules Questions and Answers A+
In Alabama, all health maintenance organizations must: - ANSWER-Have a complaint system to resolve written complaints from enrollees. An insurance producer who offers a potential client something of value as an incentive to purchase insurance is engaging in: - ANSWER-Rebating Medicare supplement policies marketed in Alabama: Cannot offer benefits that simply duplicate Medicare benefits Cannot be more restrictive than Medicare Cannot treat a loss due to injury differently than a loss d...
- Exam (elaborations)
- • 4 pages •
In Alabama, all health maintenance organizations must: - ANSWER-Have a complaint system to resolve written complaints from enrollees. An insurance producer who offers a potential client something of value as an incentive to purchase insurance is engaging in: - ANSWER-Rebating Medicare supplement policies marketed in Alabama: Cannot offer benefits that simply duplicate Medicare benefits Cannot be more restrictive than Medicare Cannot treat a loss due to injury differently than a loss d...
Alabama life and health Questions and Answers Passed 2025
Billy is the owner of a life insurance policy and has chosen a policy settlement option under which the company will pay the beneficiary (his widow) an income each month for as long as she lives. Payment stops at her death. Which settlement option has Billy selected? A. Fixed amount option B. Fixed period option C. Interest only option D. Life income option -ANSWER-D. Life income option A man with an Accidental Death & Dismemberment (AD&D) policy having a Principal Sum of $100,000 and a...
- Exam (elaborations)
- • 26 pages •
Billy is the owner of a life insurance policy and has chosen a policy settlement option under which the company will pay the beneficiary (his widow) an income each month for as long as she lives. Payment stops at her death. Which settlement option has Billy selected? A. Fixed amount option B. Fixed period option C. Interest only option D. Life income option -ANSWER-D. Life income option A man with an Accidental Death & Dismemberment (AD&D) policy having a Principal Sum of $100,000 and a...
Ch. 3: Alabama Producer Exam: Life & Health With Complete Solution/Already Passed
Term insurance differs from permanent insurance in that term: - ANSWER-Builds no cash value, pays a death benefit only Which of the following permanent policies could actually end up acting like term life insurance? - ANSWER-Adjustable Life A participating life insurance policy has a long-term care rider. The insured qualifies for the benefit. Where does the initial benefit money come from? - ANSWER-It is an advance of the face amount of the policy In a viatical settlement, a third part...
- Exam (elaborations)
- • 2 pages •
Term insurance differs from permanent insurance in that term: - ANSWER-Builds no cash value, pays a death benefit only Which of the following permanent policies could actually end up acting like term life insurance? - ANSWER-Adjustable Life A participating life insurance policy has a long-term care rider. The insured qualifies for the benefit. Where does the initial benefit money come from? - ANSWER-It is an advance of the face amount of the policy In a viatical settlement, a third part...
Alabama Life and Health 2024/2025 Latest Update Complete Solution
Purposes of Life Insurance - ANSWER-Survivor protection, funeral protection, estate creation. Common Disaster Clause - ANSWER-The primary beneficiary must outlive the insured by 30 days or more to receive policy proceeds. The Free Look Period - ANSWER-Life Insurance is 10 days, A replacement Life policy is 30 days, Medical Supplement Policy's are 30 days. Long Term Care is 30 days AND must be printed on the first page of the policy. Retirement Age Stipulations - ANSWER-Retirement can...
- Exam (elaborations)
- • 5 pages •
Purposes of Life Insurance - ANSWER-Survivor protection, funeral protection, estate creation. Common Disaster Clause - ANSWER-The primary beneficiary must outlive the insured by 30 days or more to receive policy proceeds. The Free Look Period - ANSWER-Life Insurance is 10 days, A replacement Life policy is 30 days, Medical Supplement Policy's are 30 days. Long Term Care is 30 days AND must be printed on the first page of the policy. Retirement Age Stipulations - ANSWER-Retirement can...
Alabama Life and Health (Exam FX Simulation - attempt 1) Questions and Answers
Which of the following is NOT an allowable 1035 exchange - ANSWER-A whole life insurance policy is exchanged for a term insurance policy. Which of the following is NOT a type of information that needs to be gathered in order to determine the value of someone's life when using the needs approach? - ANSWER-Estimated longevity Which of the following would be the basic source of information used by the company in the risk selection process? - ANSWER-Application underwriting is a major co...
- Exam (elaborations)
- • 8 pages •
Which of the following is NOT an allowable 1035 exchange - ANSWER-A whole life insurance policy is exchanged for a term insurance policy. Which of the following is NOT a type of information that needs to be gathered in order to determine the value of someone's life when using the needs approach? - ANSWER-Estimated longevity Which of the following would be the basic source of information used by the company in the risk selection process? - ANSWER-Application underwriting is a major co...
Alabama Life Insurance Exam Questions With Correct Answers/Latest Update/Verified
Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - ANSWER-Privilege of change clause The extended term nonforfeiture option provides: - ANSWER-Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - ANSWER-You assign a partial amount of the policy values to the creditor An accounting measure used ...
- Exam (elaborations)
- • 3 pages •
Which clause allows the insured to change an existing policy to any other policy of any type as long as the new policy has a higher premium, without any proof of insurability? - ANSWER-Privilege of change clause The extended term nonforfeiture option provides: - ANSWER-Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - ANSWER-You assign a partial amount of the policy values to the creditor An accounting measure used ...
Alabama Life and Health Insurance Exam Questions and Answers 100% Correct/Latest Update
The Fair Credit Reporting Act - ANSWER-what law protects consumers from the circulation of inaccurate or obsolete information? domestic, foreign, and alien - ANSWER-Insurers are classified according to their domicile. What are the 3 types of insurers? Fraternal insurer - ANSWER-what type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? mutual company - ANSWER-the type of insurance company organized to return ...
- Exam (elaborations)
- • 4 pages •
The Fair Credit Reporting Act - ANSWER-what law protects consumers from the circulation of inaccurate or obsolete information? domestic, foreign, and alien - ANSWER-Insurers are classified according to their domicile. What are the 3 types of insurers? Fraternal insurer - ANSWER-what type of insurer is a voluntarily formed organization that provides religious organizations with a representative form of government? mutual company - ANSWER-the type of insurance company organized to return ...
Alabama Life & Health Insurance Exam Update With Complete Solution
Which of the following would be considered a speculative risk? - ANSWER-The possibility the painting you bought might be a long-lost masterpiece A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. Which is the proper term for a company owned by its policy owners? - ANSWER-A mutual insurance company A producer...
- Exam (elaborations)
- • 20 pages •
Which of the following would be considered a speculative risk? - ANSWER-The possibility the painting you bought might be a long-lost masterpiece A speculative risk is one in which there is a chance for either loss or gain. Example: Gambling, Casino's, Lottery, etc. All of the other choices describe pure risk, where there is no chance of gain, only a chance of loss exists. Which is the proper term for a company owned by its policy owners? - ANSWER-A mutual insurance company A producer...
405 Exam Questions and Answers Rated A
An analog meter uses current from the circuit under test to read voltage. - ANSWER-Which of the following statements is true of analog meters? The meter is placed in series with any component. - ANSWER-3. Which is true when placing an ammeter into a circuit? The resistance the meter introduces to the circuit. - ANSWER-4. The ohms per volt specification of analog meter is best described as which of the following? Reverse the probe leads at the circuit. - ANSWER-5. If an analog meter read...
- Exam (elaborations)
- • 2 pages •
An analog meter uses current from the circuit under test to read voltage. - ANSWER-Which of the following statements is true of analog meters? The meter is placed in series with any component. - ANSWER-3. Which is true when placing an ammeter into a circuit? The resistance the meter introduces to the circuit. - ANSWER-4. The ohms per volt specification of analog meter is best described as which of the following? Reverse the probe leads at the circuit. - ANSWER-5. If an analog meter read...
415-420-425 neiep Test Bank Correctly Solved
what increases strength of magnetic field? -ANSWER- increase current how is poutput of elementary generator electrically connected "? -ANSWER- slip rings and brushes A conductor is moving through magetic field, what is the result? -ANSWER- reduced emf what components convert generator from AC to DC? -ANSWER- commutator and brushes you are replacing generator, what has lowest voltage ripple? -ANSWER- 8 loops refer to figure, what direction will motor rotate? -ANSWER- clockwise ...
- Exam (elaborations)
- • 2 pages •
what increases strength of magnetic field? -ANSWER- increase current how is poutput of elementary generator electrically connected "? -ANSWER- slip rings and brushes A conductor is moving through magetic field, what is the result? -ANSWER- reduced emf what components convert generator from AC to DC? -ANSWER- commutator and brushes you are replacing generator, what has lowest voltage ripple? -ANSWER- 8 loops refer to figure, what direction will motor rotate? -ANSWER- clockwise ...
NCOA Study Guide with Complete Solutions!!
BoatUS Foundation's - Online Boating Safety Course Exam Questions and Answers
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