ALABAMA INSURANCE TEST Completely Solved 2024!!

Which welfare program provides assistance to the needy? - ANSWERSMedicaid Barbara has the right to change the beneficiary designation on her life insurance policy. Barbara's beneficiary is a(n): - ANSWERSrevocable beneficiary Within how many calendar days must all clean electronic health insurance claims be paid in Alabama? - ANSWERS30 Which type of term policy allows the policyowner to switch to permanent insurance? - ANSWERSConvertible term What does renewable term guarantee? - ANSWERSThe insured's insurability 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: - ANSWERStwo years Which of the following statements concerning a life insurance policy is TRUE? - ANSWERSAn issued policy can never be changed by a producer The proceeds of a life insurance policy can be paid in a form other than a lump-sum payment. These forms of payment are called: - ANSWERSsettlement options The withholding of facts in an insurance application is called: - ANSWERSconcealment A licensed Alabama insurance producer would NOT be disciplined by the Commissioner of Insurance for: - ANSWERSbeing convicted of a misdemeanor The option to convert term life insurance to a permanent form of coverage can normally be executed: - ANSWERSwithout proof of insurability Which type of life insurance rider allows a policyowner to increase the level of coverage to keep up with inflation? - ANSWERScost of living rider What is the minimum age requirement for a minor in Alabama to purchase a life insurance policy? - ANSWERS15 Which of the following best describes a Health Maintenance Organization (HMO)? - ANSWERSProvides full medical services that stress preventative medicine Medicare Advantage (Medicare Part C) allows the utilization of benefits through a(n): - ANSWERSHMO, PPO, or traditional insurer Pat the producer just sold an insurance policy to a client, explaining that he has authority to issue the policy. Pat was not specifically granted