Alabama Life & Health Insurance Exam
_________ refers to the jurisdiction where an insurer become formed or incorporated. -
ANS-Domicile: Domicile refers back to the jurisdiction both nation or united states of america in
which an insurer turned into formed or included.
_____________ coverage allows for insurance insurance to be obtained while not available
from admitted companies. - ANS-Surplus Lines
Insurance can be received via surplus lines agents (manufacturers) from non-admitted insurers.
'Annuity Period' refers to which of the subsequent? - ANS-The time at some stage in which
payments are made to the annuitant
The annuity duration begins whilst the annuitant begins to acquire bills from the gathered
budget in the annuity coverage. This is likewise referred to as 'the Annuitization length'.
A sure foremost clinical policy states a most number of days for which convalescent care will be
paid as well as a maximum quantity of X-rays so that it will be paid for below anyone declare.
These are examples of: - ANS-Inside Limits
The limits on occasion placed on unique coverages in a first-rate clinical coverage are called
inner or inner limits. These limits resemble scheduled blessings, as to the fact that they are
stated within the policy as either most lifetime limits or limits in keeping with coverage length.
Either manner they may be stated in the policy.
A purchaser purchases an character disability earnings policy and receives the coverage from
the insurer forty five days after application. Upon receipt of the policy, the purchaser usually has
______days to study and go back the coverage to obtain a complete refund for any cause. -
ANS-10
A corporation this is licensed to sell insurance in a particular kingdom is: - ANS-An authorized
Company
A agreement this is drafted through an insurer and receives no input or alteration from the
insured, is considered a(n): - ANS-Contract of Adhesion
A organization deferred annuity or an man or woman deferred annuity could be maximum
probable used: - ANS-To fund a described advantage plan
,When a set deferred annuity is used to fund a defined advantage plan, specific amounts of
deferred annuity are offered via the organization every year to provide the 'defined gain' for the
worker at retirement, therefore presenting a assured described benefit at retirement.
A licensee ought to tell the Commissioner of a trade of legal name or cope with within ______
days of the exchange. - ANS-30
A licensee ought to inform the Commissioner of a trade of criminal name or deal with within
______ days of the alternate. - ANS-30
A lifestyles coverage policy is incontestable, besides for nonpayment of premiums, after it's
been in force in the course of the life of the insured for ______ from its date of problem. - ANS-2
years
A confined pay existence policy: - ANS-Requires premium payments for a exact range of years
or till a special age is reached
A Medicare SELECT coverage differs from a everyday Medicare Supplement (Medigap) policy
in that it: - ANS-Is a controlled care model of the traditional Medicare Supplement policy
A Medicare complement coverage may not limit benefits for losses incurred more than
________ from the effective date of coverage because they involve a preexisting condition. -
ANS-6 months
A minor aged ______ years or older may additionally agreement for coverage on his or her
personal existence. - ANS-15
A non-college employer can set up a TSA plan for his or her employees beneath which of the
subsequent IRC segment? - ANS-503 (c)(3)
A plan wherein personnel select fitness benefits from a variety of coverage alternatives, based
on their person insurance wishes is a: - ANS-Cafeteria Plan
A policy that pays surgical fee benefits does now not time table the approved gain payable for
every form of surgical treatment. Instead, surgical procedures not indexed are paid on the idea
of a assessment to 1 or greater forms of normally-accomplished predominant surgeries that are
scheduled. Under this arrangement, the unscheduled surgical procedures are paid on the
premise of: - ANS-Their relative cost
A coverage that will pay surgical expense blessings does now not time table the authorised
advantage payable for every type of surgical operation. Instead, surgeries no longer listed are
paid on the idea of a contrast to 1 or more styles of commonly-accomplished most important
surgical procedures which might be scheduled. Under this arrangement, the unscheduled
surgical procedures are paid on the idea of: - ANS-Their relative cost
, A producer who is acting as an agent is representing: - ANS-Always the insurer
A stay at domestic father wants to open up an IRA. What is required in order for him to achieve
this? - ANS-Be married to a partner that has earned profits
A variable life coverage: - ANS-Death benefit varies to mirror the funding outcomes of the
underlying separate account, but by no means falls below a assured minimum
A complete existence policy: - ANS-Requires the insured to pay rates for life and endows at age
one hundred
All Medicare complement (or Medigap) policies need to: - ANS-Have the identical middle
benefits
All of the following are elements of a settlement, besides: - ANS-Authority
All enforceable contracts need to encompass those characteristics: provide and popularity
(settlement), concerns, capable events, and legal reason. Authority is not taken into
consideration one of the elements of a criminal contract.
All of the subsequent are situations wherein the insurer is obligated to pay out a death
advantage after the insured has died, besides: - ANS-The premiums have no longer been paid
and have been late for 3 years
All of the subsequent are real concerning advertising and marketing in lifestyles insurance,
except: - ANS-Premiums can't be mentioned in an advertisement in any respect
Premiums MAY be noted, but simplest as rates. NOT as Deposits, Deposit premiums or
Investments. Advertisements MUST indicate without a doubt what the product is advertising.
Dividends MUST kingdom that they're Not Guaranteed.
TRUE:
Premiums cannot be referred to as 'deposits', 'deposit premiums', or 'investments', they will be
referred to as 'rates' handiest
Advertisements may not omit the words 'lifestyles coverage' or 'annuity' from a policy's call
Any connection with policy dividends should country that they're not assured
All of the following statements approximately noncancellable policies are actual, except: -
ANS-The insurer might also choose no longer to resume the coverage, however most effective
at the policy renewal or anniversary date
_________ refers to the jurisdiction where an insurer become formed or incorporated. -
ANS-Domicile: Domicile refers back to the jurisdiction both nation or united states of america in
which an insurer turned into formed or included.
_____________ coverage allows for insurance insurance to be obtained while not available
from admitted companies. - ANS-Surplus Lines
Insurance can be received via surplus lines agents (manufacturers) from non-admitted insurers.
'Annuity Period' refers to which of the subsequent? - ANS-The time at some stage in which
payments are made to the annuitant
The annuity duration begins whilst the annuitant begins to acquire bills from the gathered
budget in the annuity coverage. This is likewise referred to as 'the Annuitization length'.
A sure foremost clinical policy states a most number of days for which convalescent care will be
paid as well as a maximum quantity of X-rays so that it will be paid for below anyone declare.
These are examples of: - ANS-Inside Limits
The limits on occasion placed on unique coverages in a first-rate clinical coverage are called
inner or inner limits. These limits resemble scheduled blessings, as to the fact that they are
stated within the policy as either most lifetime limits or limits in keeping with coverage length.
Either manner they may be stated in the policy.
A purchaser purchases an character disability earnings policy and receives the coverage from
the insurer forty five days after application. Upon receipt of the policy, the purchaser usually has
______days to study and go back the coverage to obtain a complete refund for any cause. -
ANS-10
A corporation this is licensed to sell insurance in a particular kingdom is: - ANS-An authorized
Company
A agreement this is drafted through an insurer and receives no input or alteration from the
insured, is considered a(n): - ANS-Contract of Adhesion
A organization deferred annuity or an man or woman deferred annuity could be maximum
probable used: - ANS-To fund a described advantage plan
,When a set deferred annuity is used to fund a defined advantage plan, specific amounts of
deferred annuity are offered via the organization every year to provide the 'defined gain' for the
worker at retirement, therefore presenting a assured described benefit at retirement.
A licensee ought to tell the Commissioner of a trade of legal name or cope with within ______
days of the exchange. - ANS-30
A licensee ought to inform the Commissioner of a trade of criminal name or deal with within
______ days of the alternate. - ANS-30
A lifestyles coverage policy is incontestable, besides for nonpayment of premiums, after it's
been in force in the course of the life of the insured for ______ from its date of problem. - ANS-2
years
A confined pay existence policy: - ANS-Requires premium payments for a exact range of years
or till a special age is reached
A Medicare SELECT coverage differs from a everyday Medicare Supplement (Medigap) policy
in that it: - ANS-Is a controlled care model of the traditional Medicare Supplement policy
A Medicare complement coverage may not limit benefits for losses incurred more than
________ from the effective date of coverage because they involve a preexisting condition. -
ANS-6 months
A minor aged ______ years or older may additionally agreement for coverage on his or her
personal existence. - ANS-15
A non-college employer can set up a TSA plan for his or her employees beneath which of the
subsequent IRC segment? - ANS-503 (c)(3)
A plan wherein personnel select fitness benefits from a variety of coverage alternatives, based
on their person insurance wishes is a: - ANS-Cafeteria Plan
A policy that pays surgical fee benefits does now not time table the approved gain payable for
every form of surgical treatment. Instead, surgical procedures not indexed are paid on the idea
of a assessment to 1 or greater forms of normally-accomplished predominant surgeries that are
scheduled. Under this arrangement, the unscheduled surgical procedures are paid on the
premise of: - ANS-Their relative cost
A coverage that will pay surgical expense blessings does now not time table the authorised
advantage payable for every type of surgical operation. Instead, surgeries no longer listed are
paid on the idea of a contrast to 1 or more styles of commonly-accomplished most important
surgical procedures which might be scheduled. Under this arrangement, the unscheduled
surgical procedures are paid on the idea of: - ANS-Their relative cost
, A producer who is acting as an agent is representing: - ANS-Always the insurer
A stay at domestic father wants to open up an IRA. What is required in order for him to achieve
this? - ANS-Be married to a partner that has earned profits
A variable life coverage: - ANS-Death benefit varies to mirror the funding outcomes of the
underlying separate account, but by no means falls below a assured minimum
A complete existence policy: - ANS-Requires the insured to pay rates for life and endows at age
one hundred
All Medicare complement (or Medigap) policies need to: - ANS-Have the identical middle
benefits
All of the following are elements of a settlement, besides: - ANS-Authority
All enforceable contracts need to encompass those characteristics: provide and popularity
(settlement), concerns, capable events, and legal reason. Authority is not taken into
consideration one of the elements of a criminal contract.
All of the subsequent are situations wherein the insurer is obligated to pay out a death
advantage after the insured has died, besides: - ANS-The premiums have no longer been paid
and have been late for 3 years
All of the subsequent are real concerning advertising and marketing in lifestyles insurance,
except: - ANS-Premiums can't be mentioned in an advertisement in any respect
Premiums MAY be noted, but simplest as rates. NOT as Deposits, Deposit premiums or
Investments. Advertisements MUST indicate without a doubt what the product is advertising.
Dividends MUST kingdom that they're Not Guaranteed.
TRUE:
Premiums cannot be referred to as 'deposits', 'deposit premiums', or 'investments', they will be
referred to as 'rates' handiest
Advertisements may not omit the words 'lifestyles coverage' or 'annuity' from a policy's call
Any connection with policy dividends should country that they're not assured
All of the following statements approximately noncancellable policies are actual, except: -
ANS-The insurer might also choose no longer to resume the coverage, however most effective
at the policy renewal or anniversary date
