Part 2 Chapter 8 Exam Alabama Laws
And Rules Pertinent To Insurance
Questions And Answers 100% Accurate
In Alabama, an insurer who violates state laws for the payment of insurance commissions may
be fined up to: - ANSWER - three times the amount of the commissions paid
If an individual would like to sell insurance for an insurance company, he/ she must: - ANSWER
- Have passed the state exam for the lines of authority for which licensure is a sought
Be licensed as an insurance producer
Be appointed by an insurer
All of these*
Alabama's continuing education law states that an insurance producer must report how many
classroom hours every two years? - ANSWER - 24
According to Alabama, a minor: - ANSWER - Age 18 can begin receiving life insurance death
benefits of up to 3,000 per year
An insurance producer represents the: - ANSWER - insurance company
If an insured commits suicide, a life insurance policy's face amount will be paid only after the
policy has been in force for at least: - ANSWER - Two years
The minimum grace period for a life insurance policy sold in Alabama is: - ANSWER - 30 days
According to Alabama law , agents of Health Maintenance Organizations (HMO): - ANSWER -
Must be licensed as insurance producers
XYZ Insurance Company issued a new life policy to an insured that replaced an existing policy.
XYZ Insurance XYZ Company is considered to be the: - ANSWER - Replacing insurer
And Rules Pertinent To Insurance
Questions And Answers 100% Accurate
In Alabama, an insurer who violates state laws for the payment of insurance commissions may
be fined up to: - ANSWER - three times the amount of the commissions paid
If an individual would like to sell insurance for an insurance company, he/ she must: - ANSWER
- Have passed the state exam for the lines of authority for which licensure is a sought
Be licensed as an insurance producer
Be appointed by an insurer
All of these*
Alabama's continuing education law states that an insurance producer must report how many
classroom hours every two years? - ANSWER - 24
According to Alabama, a minor: - ANSWER - Age 18 can begin receiving life insurance death
benefits of up to 3,000 per year
An insurance producer represents the: - ANSWER - insurance company
If an insured commits suicide, a life insurance policy's face amount will be paid only after the
policy has been in force for at least: - ANSWER - Two years
The minimum grace period for a life insurance policy sold in Alabama is: - ANSWER - 30 days
According to Alabama law , agents of Health Maintenance Organizations (HMO): - ANSWER -
Must be licensed as insurance producers
XYZ Insurance Company issued a new life policy to an insured that replaced an existing policy.
XYZ Insurance XYZ Company is considered to be the: - ANSWER - Replacing insurer
