Alabama Life and Health Insurance Exam.pdf file:///C:/Users/Admin/Downloads/Alabama%20Life%20and%20He
Alabama Life & Health Insurance Exam
Set 1
1. what law protects consumers from the circulation of inaccurate or obsoleteinformation ANS
The Fair Credit Reporting Act
2. Insurers are classified according to their domicile. What are the 3 types ofinsurers ANS
domestic, foreign, and alien
3. what type of insurer is a voluntarily formed organization that provides religious
organizations with a representative form of government ANS Fraternalinsurer
4. the type of insurance company organized to return any surplus money toits
policyholders is known as what ANS mutual company
5. when agents act within the scope of their contract, their actions will beassumed to be
the actions of whom ANS Insurer
6. what is the name of the process that insurance companies use to determineif an applicant
is insurable ANS underwriting
7. if an insurer needs to obtain information about the applicant from investiga-tors, what is
1/3
1 of 6 9/10/2024, 10:13
,Alabama Life and Health Insurance Exam.pdf file:///C:/Users/Admin/Downloads/Alabama%20Life%20and%20He
the insurer required to do ANS provide the aplicant with a Disclosure Authorization Notice
8. what type of insurer is formed under the laws of another country ANS Alien
9. when risks with higher probability of loss are seeking insurance more oftenthan other risks,
is known as what ANS adverse selection
10. when does an insurance policy go into effect ANS when to policy is deliveredand the
premium is paid.
11. according to the Law of Agency, a principal is represented by whom ANS anagent or
producer
12. what type of risk is insurable ANS pure
13. who owns stock companies ANS stockholders
14. what entities make up the Medical Information Bureau ANS Insurers
15. when a change needs to be made on the application for insurance, which is the best
method for correcting the information ANS complete a new applicationof ask the applicant
to initial the correction on the original application
16. in order to transact insurance within a given sate, an alien insurer mustfirst obtain
what ANS Certificate of Authority
2/3
2 of 6 9/10/2024, 10:13
Alabama Life & Health Insurance Exam
Set 1
1. what law protects consumers from the circulation of inaccurate or obsoleteinformation ANS
The Fair Credit Reporting Act
2. Insurers are classified according to their domicile. What are the 3 types ofinsurers ANS
domestic, foreign, and alien
3. what type of insurer is a voluntarily formed organization that provides religious
organizations with a representative form of government ANS Fraternalinsurer
4. the type of insurance company organized to return any surplus money toits
policyholders is known as what ANS mutual company
5. when agents act within the scope of their contract, their actions will beassumed to be
the actions of whom ANS Insurer
6. what is the name of the process that insurance companies use to determineif an applicant
is insurable ANS underwriting
7. if an insurer needs to obtain information about the applicant from investiga-tors, what is
1/3
1 of 6 9/10/2024, 10:13
,Alabama Life and Health Insurance Exam.pdf file:///C:/Users/Admin/Downloads/Alabama%20Life%20and%20He
the insurer required to do ANS provide the aplicant with a Disclosure Authorization Notice
8. what type of insurer is formed under the laws of another country ANS Alien
9. when risks with higher probability of loss are seeking insurance more oftenthan other risks,
is known as what ANS adverse selection
10. when does an insurance policy go into effect ANS when to policy is deliveredand the
premium is paid.
11. according to the Law of Agency, a principal is represented by whom ANS anagent or
producer
12. what type of risk is insurable ANS pure
13. who owns stock companies ANS stockholders
14. what entities make up the Medical Information Bureau ANS Insurers
15. when a change needs to be made on the application for insurance, which is the best
method for correcting the information ANS complete a new applicationof ask the applicant
to initial the correction on the original application
16. in order to transact insurance within a given sate, an alien insurer mustfirst obtain
what ANS Certificate of Authority
2/3
2 of 6 9/10/2024, 10:13
