Alabama Life & Health Insurance Exam
refers back to the jurisdiction in which an insurer was shaped or included. -
ANS-Domicile: Domicile refers back to the jurisdiction either nation or u . S . A . Wherein an
insurer turned into formed or included.
coverage lets in for insurance coverage to be obtained while not to be had from
admitted carriers. - ANS-Surplus Lines
Insurance may be acquired thru surplus strains brokers (producers) from non-admitted insurers.
'Annuity Period' refers to which of the subsequent? - ANS-The time all through which payments
are made to the annuitant
The annuity period begins whilst the annuitant begins to get hold of bills from the amassed
funds inside the annuity coverage. This is likewise known as 'the Annuitization length'.
A certain most important clinical coverage states a most variety of days for which convalescent
care might be paid in addition to a maximum variety of X-rays so that it will be paid for under
any person declare. These are examples of: - ANS-Inside Limits
The limits now and again located on unique coverages in a prime scientific coverage are
referred to as interior or inner limits. These limits resemble scheduled benefits, as to the reality
that they're stated in the policy as either maximum lifetime limits or limits consistent with
coverage duration. Either way they're stated inside the coverage.
A customer purchases an man or woman incapacity earnings coverage and gets the policy from
the insurer forty five days after application. Upon receipt of the coverage, the consumer
commonly has days to check and go back the policy to get hold of a full refund for any
reason. - ANS-10
A agency that is licensed to promote insurance in a selected country is: - ANS-An legal
Company
A agreement this is drafted through an insurer and receives no enter or alteration from the
insured, is taken into consideration a(n): - ANS-Contract of Adhesion
A organization deferred annuity or an man or woman deferred annuity could be most probable
used: - ANS-To fund a defined gain plan
When a group deferred annuity is used to fund a described benefit plan, targeted quantities of
deferred annuity are offered with the aid of the agency every yr to provide the 'described
advantage' for the employee at retirement, for that reason supplying a guaranteed defined
benefit at retirement.
A licensee ought to inform the Commissioner of a alternate of felony name or address within
days of the alternate. - ANS-30
A licensee have to tell the Commissioner of a change of legal name or deal with inside
days of the alternate. - ANS-30
,A lifestyles insurance policy is incontestable, except for nonpayment of charges, after it has
been in pressure for the duration of the life of the insured for from its date of difficulty. -
ANS-2 years
A limited pay lifestyles policy: - ANS-Requires premium bills for a distinct quantity of years or
until a special age is reached
A Medicare SELECT coverage differs from a normal Medicare Supplement (Medigap) coverage
in that it: - ANS-Is a managed care model of the conventional Medicare Supplement coverage
A Medicare complement coverage may not restriction advantages for losses incurred greater
than from the powerful date of insurance due to the fact they involve a preexisting
condition. - ANS-6 months
A minor elderly years or older may additionally agreement for coverage on his or her
own lifestyles. - ANS-15
A non-college organisation can installation a TSA plan for his or her employees under which of
the subsequent IRC phase? - ANS-503 (c)(3)
A plan in which personnel pick out fitness blessings from a ramification of coverage alternatives,
based totally on their man or woman coverage needs is a: - ANS-Cafeteria Plan
A policy that pays surgical cost blessings does not agenda the authorized benefit payable for
every kind of surgical operation. Instead, surgical procedures not indexed are paid on the basis
of a evaluation to one or extra types of typically-executed fundamental surgical procedures
which might be scheduled. Under this arrangement, the unscheduled surgeries are paid on the
premise of: - ANS-Their relative cost
A coverage that will pay surgical price blessings does now not schedule the accredited
advantage payable for every type of surgery. Instead, surgical procedures no longer indexed are
paid on the premise of a comparison to one or greater kinds of normally-performed predominant
surgical procedures which can be scheduled. Under this arrangement, the unscheduled
surgeries are paid on the basis of: - ANS-Their relative fee
A manufacturer who is performing as an agent is representing: - ANS-Always the insurer
A live at domestic father desires to open up an IRA. What is required in order for him to do so? -
ANS-Be married to a spouse that has earned income
A variable life policy: - ANS-Death advantage varies to mirror the funding outcomes of the
underlying separate account, however never falls beneath a guaranteed minimal
A complete existence policy: - ANS-Requires the insured to pay rates for existence and endows
at age 100
All Medicare complement (or Medigap) regulations ought to: - ANS-Have the same center
benefits
All of the subsequent are elements of a contract, besides: - ANS-Authority
All enforceable contracts have to encompass those characteristics: offer and attractiveness
(agreement), concerns, in a position parties, and felony purpose. Authority isn't always
considered one of the factors of a criminal contract.
All of the subsequent are situations in which the insurer is obligated to pay out a death gain after
the insured has died, except: - ANS-The rates have no longer been paid and had been past due
for three years
, All of the subsequent are genuine concerning advertising in lifestyles coverage, besides: -
ANS-Premiums can't be cited in an advertisement at all
Premiums MAY be referred to, but best as premiums. NOT as Deposits, Deposit charges or
Investments. Advertisements MUST imply actually what the product is advertising. Dividends
MUST state that they are Not Guaranteed.
TRUE:
Premiums can not be called 'deposits', 'deposit charges', or 'investments', they will be called
'premiums' best
Advertisements may not pass over the words 'existence coverage' or 'annuity' from a policy's
call
Any reference to coverage dividends have to state that they may be not assured
All of the subsequent statements about noncancellable regulations are proper, besides: -
ANS-The insurer might also select not to resume the policy, but only at the coverage renewal or
anniversary date
All of the subsequent statements about noncancellable policies are true, except: - ANS-The
insurer may also choose now not to renew the policy, however most effective at the policy
renewal or anniversary date
The best proper to cancel a noncancellable policy is nonpayment of top class, because it's miles
assured renewable to age 65. The only sort of renewal provision that lets in an insurer the
proper not to resume on the coverage anniversary is the optionally renewable option.
All of the subsequent statements regarding an coverage software are correct, except: - ANS-It
isn't included as part of the agreement
Correct:
It is a proper written request by an applicant to an insurer asking for a policy
It is the number one supply of facts for underwriting functions
It must be signed via as a minimum the applicant and manufacturer
All of the organizations are taken into consideration to be exempt from the Affordable Care Act's
requirement to purchase insurance, except: - ANS-Those who must pay less than nine.5% in
their earnings for medical health insurance
Those that need to pay extra than 9.5%, even after subsidies, are exempt.
EXEMPT:
refers back to the jurisdiction in which an insurer was shaped or included. -
ANS-Domicile: Domicile refers back to the jurisdiction either nation or u . S . A . Wherein an
insurer turned into formed or included.
coverage lets in for insurance coverage to be obtained while not to be had from
admitted carriers. - ANS-Surplus Lines
Insurance may be acquired thru surplus strains brokers (producers) from non-admitted insurers.
'Annuity Period' refers to which of the subsequent? - ANS-The time all through which payments
are made to the annuitant
The annuity period begins whilst the annuitant begins to get hold of bills from the amassed
funds inside the annuity coverage. This is likewise known as 'the Annuitization length'.
A certain most important clinical coverage states a most variety of days for which convalescent
care might be paid in addition to a maximum variety of X-rays so that it will be paid for under
any person declare. These are examples of: - ANS-Inside Limits
The limits now and again located on unique coverages in a prime scientific coverage are
referred to as interior or inner limits. These limits resemble scheduled benefits, as to the reality
that they're stated in the policy as either maximum lifetime limits or limits consistent with
coverage duration. Either way they're stated inside the coverage.
A customer purchases an man or woman incapacity earnings coverage and gets the policy from
the insurer forty five days after application. Upon receipt of the coverage, the consumer
commonly has days to check and go back the policy to get hold of a full refund for any
reason. - ANS-10
A agency that is licensed to promote insurance in a selected country is: - ANS-An legal
Company
A agreement this is drafted through an insurer and receives no enter or alteration from the
insured, is taken into consideration a(n): - ANS-Contract of Adhesion
A organization deferred annuity or an man or woman deferred annuity could be most probable
used: - ANS-To fund a defined gain plan
When a group deferred annuity is used to fund a described benefit plan, targeted quantities of
deferred annuity are offered with the aid of the agency every yr to provide the 'described
advantage' for the employee at retirement, for that reason supplying a guaranteed defined
benefit at retirement.
A licensee ought to inform the Commissioner of a alternate of felony name or address within
days of the alternate. - ANS-30
A licensee have to tell the Commissioner of a change of legal name or deal with inside
days of the alternate. - ANS-30
,A lifestyles insurance policy is incontestable, except for nonpayment of charges, after it has
been in pressure for the duration of the life of the insured for from its date of difficulty. -
ANS-2 years
A limited pay lifestyles policy: - ANS-Requires premium bills for a distinct quantity of years or
until a special age is reached
A Medicare SELECT coverage differs from a normal Medicare Supplement (Medigap) coverage
in that it: - ANS-Is a managed care model of the conventional Medicare Supplement coverage
A Medicare complement coverage may not restriction advantages for losses incurred greater
than from the powerful date of insurance due to the fact they involve a preexisting
condition. - ANS-6 months
A minor elderly years or older may additionally agreement for coverage on his or her
own lifestyles. - ANS-15
A non-college organisation can installation a TSA plan for his or her employees under which of
the subsequent IRC phase? - ANS-503 (c)(3)
A plan in which personnel pick out fitness blessings from a ramification of coverage alternatives,
based totally on their man or woman coverage needs is a: - ANS-Cafeteria Plan
A policy that pays surgical cost blessings does not agenda the authorized benefit payable for
every kind of surgical operation. Instead, surgical procedures not indexed are paid on the basis
of a evaluation to one or extra types of typically-executed fundamental surgical procedures
which might be scheduled. Under this arrangement, the unscheduled surgeries are paid on the
premise of: - ANS-Their relative cost
A coverage that will pay surgical price blessings does now not schedule the accredited
advantage payable for every type of surgery. Instead, surgical procedures no longer indexed are
paid on the premise of a comparison to one or greater kinds of normally-performed predominant
surgical procedures which can be scheduled. Under this arrangement, the unscheduled
surgeries are paid on the basis of: - ANS-Their relative fee
A manufacturer who is performing as an agent is representing: - ANS-Always the insurer
A live at domestic father desires to open up an IRA. What is required in order for him to do so? -
ANS-Be married to a spouse that has earned income
A variable life policy: - ANS-Death advantage varies to mirror the funding outcomes of the
underlying separate account, however never falls beneath a guaranteed minimal
A complete existence policy: - ANS-Requires the insured to pay rates for existence and endows
at age 100
All Medicare complement (or Medigap) regulations ought to: - ANS-Have the same center
benefits
All of the subsequent are elements of a contract, besides: - ANS-Authority
All enforceable contracts have to encompass those characteristics: offer and attractiveness
(agreement), concerns, in a position parties, and felony purpose. Authority isn't always
considered one of the factors of a criminal contract.
All of the subsequent are situations in which the insurer is obligated to pay out a death gain after
the insured has died, except: - ANS-The rates have no longer been paid and had been past due
for three years
, All of the subsequent are genuine concerning advertising in lifestyles coverage, besides: -
ANS-Premiums can't be cited in an advertisement at all
Premiums MAY be referred to, but best as premiums. NOT as Deposits, Deposit charges or
Investments. Advertisements MUST imply actually what the product is advertising. Dividends
MUST state that they are Not Guaranteed.
TRUE:
Premiums can not be called 'deposits', 'deposit charges', or 'investments', they will be called
'premiums' best
Advertisements may not pass over the words 'existence coverage' or 'annuity' from a policy's
call
Any reference to coverage dividends have to state that they may be not assured
All of the subsequent statements about noncancellable regulations are proper, besides: -
ANS-The insurer might also select not to resume the policy, but only at the coverage renewal or
anniversary date
All of the subsequent statements about noncancellable policies are true, except: - ANS-The
insurer may also choose now not to renew the policy, however most effective at the policy
renewal or anniversary date
The best proper to cancel a noncancellable policy is nonpayment of top class, because it's miles
assured renewable to age 65. The only sort of renewal provision that lets in an insurer the
proper not to resume on the coverage anniversary is the optionally renewable option.
All of the subsequent statements regarding an coverage software are correct, except: - ANS-It
isn't included as part of the agreement
Correct:
It is a proper written request by an applicant to an insurer asking for a policy
It is the number one supply of facts for underwriting functions
It must be signed via as a minimum the applicant and manufacturer
All of the organizations are taken into consideration to be exempt from the Affordable Care Act's
requirement to purchase insurance, except: - ANS-Those who must pay less than nine.5% in
their earnings for medical health insurance
Those that need to pay extra than 9.5%, even after subsidies, are exempt.
EXEMPT:
