Chapter exam- Alabama laws and rules

Chapter exam- Alabama laws and rules In Alabama, all health maintenance organizations must: 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: 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 due to illness All of these Which of these is NOT considered a form of advertisement in Alabama A producer sending a Christmas card to a client Alabama's head off the department of insurance does not have the power to Promulgate insurance laws In Alabama when are newborns covered under a health policy The moment of birth If an insured commits suicide, a life insurance policy's face amount will be paid only after the policy has been in force for atleast: Two years An insurance company licensed to do business in Alabama, but incorporated in another state is called: Foreign company According to Alabama law, a minor: Age 18 can being receiving life insurance death benefits up to 3,000 per year The minimum grace period for a life insurance policy sold in Alabama is: 30 days Which statement concerning Alabama's life insurance solicitation regulations is true? A life insurance illustration must contain information regarding the non guaranteed elements of a policy over time. A buyers guide explains the purpose and structure of various policies available. A buyers guide and policy summary must be provided to an applicant prior to policy delivery. All of these The commissioner of insurance may NOT do which of the following? Change insurance laws A disability policy in Alabama that is paid on a monthly basis is required to have a grace period of: 10 days In Alabama, an instance company incorporated and licensed to do business in this state is called: A domestic company Which of the following long term care (LTC) practices is permitted In Alabama Using direct mail to market an LTC policy Alabama's annuity disclosure regulation Requires the delivery of a buyers guide and a disclosure document to an annuity applicant In regards to insurance applications, which of the following statement is true ? Changes on the application must be consented in writing An insurance producer represents the: Insurance company Which of the following terms may be used when describing the premiums for a life insurance policy advertised in Alabama? Savings Profit Deposit None of these XYZ insurance company issued a new life policy to an insured that replaced an existing policy. XYZ insurance company is considered to be the: Replacing insurer An insurance company licensed to solicit insurance in a specific state is called: An admitted company What is the minimum age requirement for a minor in Alabama to purchase a life insurance policy 15 Any individual who has failed two Alabama insurance licensing examinations must wait how long before retaking it a third time ? Three months Replacement regulation in Alabama does NOT apply to: Credit life insurance Julio, the insurance producer, has allowed his license to lapse. He would like to reinstate his license without retaking a course or passing a written examination. To do this, Julio must reinstate the license within___________ months from the renewal date. 12 The Alabama life and disability insurance guaranty has the power to: Loan money to an insolvent insurance company Guarantee the obligations of an insurance company Provide money to satisfy the obligations of an insurance company All of these Which entity is responsible for the majority of regulations imposed on the insurance industry