Alabama life insur - Study guides, Class notes & Summaries

What are commercial insurers also referred to as? - correct answer Private Insurance Companies Commercial Insurers are in the business of selling insurance for ___ ________. - correct answer a profit What two groups can commercial insurance be broken into? - correct answer Stock Companies & Mutual Insurers What is a stock insurer? - correct answer incorporated to make a profit for its stockholders. nonparticipating because the policyholders do not receive dividends unless they are stock...

A ____________ company is one that is domiciled in another state and has Not received a license to do business in Alabama. - ANSWER Foreign Nonamitted A 15-year mortgage - ANSWER 15 year decreasing term A collateral assignment allows a policy owner to assign: - ANSWER A portion of the policy provides to the assignee

Alabama Life & Health Insurance ExamFX Life Insurance Policies Questions and Answers

Alabama Life Insurance Exam Questions With 100% Correct Answers 2024

Alabama Life Insurance Exam Questions and Answers

Dividend options are defined as ways in which the policy owner can: correct answersreceives dividends paid on any stock held A life insurance company may pay a death claim for less than the face amount of a policy under which of the following conditions? correct answersAll of the above Which policy will have immediate cash? correct answerssingle premium The process of underwriting primarily involves what two key steps? correct answersrisk selection and pricing Sherwood has no valid w...

ALABAMA LIFE INSURANCE EXAM 2 2024 WITH 100% CORRECT ANSWERS UPDATED Dividend options are defined as ways in which the policy owner can: - ANSWERS receives dividends paid on any stock held A life insurance company may pay a death claim for less than the face amount of a policy under which of the following conditions? - ANSWERS All of the above Which policy will have immediate cash? - ANSWERS single premium The process of underwriting primarily involves what two key steps? - ANSWERS ris...

ALABAMA LIFE INSURANCE EXAM 2024 WITH 100% CORRECT ANSWERS 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? - correct answer Privilege of change clause The extended term nonforfeiture option provides: - correct answer Paid-up term coverage equal to that of the original policy With a collateral assignment of a life policy to a creditor: - correct answer You assig...

Alabama life insurance test questions with correct answers 2024 The best definition of risk? - ANSWERS Chance of loss. Producer appointed by one company on an exclusive basis is a. - ANSWERS Captive agent Predicting the likelihood of sickness or accident occurring among groups of people according to age, occupation or some other factor. - ANSWERS Morbidity tables Specialized property or liability coverage provided by a nonadmitted insurer is called: - ANSWERS Excess and surplus lines ...

Alabama life insurance test questions with correct answers 2024 The best definition of risk? - ANSWERS Chance of loss. Producer appointed by one company on an exclusive basis is a. - ANSWERS Captive agent Predicting the likelihood of sickness or accident occurring among groups of people according to age, occupation or some other factor. - ANSWERS Morbidity tables Specialized property or liability coverage provided by a nonadmitted insurer is called: - ANSWERS Excess and surplus lines ...