Alabama State Licensing Insurance Exam Latest 2024
An applicant who fails two examinations for the same line of authority must wait
how long to take another examination for that line of authority
3 months
Payments for losses that cannot be precisely measured, such as the loss of
companionship of spouse from another, are called ____.
General damages
Transfering is a method of handling risk. Which of the following best describes
the concept of transfer
Purchasing insurance
Which of the following terms indicates that an insurance contract contains the
enforceable promises of only one party
Unilateral
Dennis purchased a small manufacturing firm and wants to purchase coverage
for the premiums-operations and products-completed operations exposures.
Which of the following types of insurance should he purchase
Commercial general liability
With regard to insurance, risk can be defined as
Uncertainty of financial loss
Which department within an insurance company organization is typically
responsible for helping to cover the insurers exposed loss
Reinsurance department
Joanne and Steven have a plied for automobile insurance with ABC auto
insurance. When the agent asked if anyone else drives a car they lied and do not
tell him that your neighbor George who lost his drivers license due to drunk
driving uses one of their cars on a regular basis to drive to work. Once the
company found how about George after he had an accident they denied the claim
siding with legal concepts as a reason
Fraud
All the following are optional property coverage is under business owner policies
Money and securities
Mechanical breakdown
Outdoor signs
In Alabama, the Commissioner of Insurance is
Appointed by the governor and serves a rearm concurrent with that of the governor
For an injury producing temporary total disability under Worker's Compensation
the compensation is what percentage of the employees average weekly earnings
at the time of the injury subject to a maximum and minimum weekly
compensation specified in the law
66-2/3%
Aviation physical damage coverage also known as aircraft hull insurance covers
all of the following
Controls
Electronic navigation
Engines
, These are the following things that are not covered by jewelers block coverage
Property being worn by the insured
Property exhibited in a showcase away from the premises
Property in transit by mail
The face amount of insurance provided by an industrial fire policy covering
buildings under the same ownership may not exceed what amount for a weekly
policy
$7,500.00
A binder is not valid be on the insurance of the policy for which it was given or
Beyond how many days
90
What is the maximum amount that the business owner policy will pay for property
damage to an outdoor sign not attached to a building
$2,500
Which of the following amounts is the maximum that an insurer will pay in case of
a loss
Limit of liability
The insured is looking for the amount of coverage in a property and casualty
policy. This information is found in the
Declaration
Comprehensive coverage pays for all the following damages
Explosion
Hitting a deer
Glass breaking
In a climate liability policy the specific date shown in the declarations indicating
the first aid events are covered by the policy is called its
Retroactive dates
Self insurance is an example of what type of risk management
Retention
Which of the following is a type of surety bond
Bid
Performance
Fiduciary
Coverage for Worker's Compensation may be obtained from all the following
Private insurance
Self insurance
The federal employers liability act
In legal terms voluntary relinquishment of a known right is called a
Waiver
These would use an error and omissions policy
Consultant
Attorney
Insurance agent
Which of the following is an eligibility requirement for homeowners policy
An applicant who fails two examinations for the same line of authority must wait
how long to take another examination for that line of authority
3 months
Payments for losses that cannot be precisely measured, such as the loss of
companionship of spouse from another, are called ____.
General damages
Transfering is a method of handling risk. Which of the following best describes
the concept of transfer
Purchasing insurance
Which of the following terms indicates that an insurance contract contains the
enforceable promises of only one party
Unilateral
Dennis purchased a small manufacturing firm and wants to purchase coverage
for the premiums-operations and products-completed operations exposures.
Which of the following types of insurance should he purchase
Commercial general liability
With regard to insurance, risk can be defined as
Uncertainty of financial loss
Which department within an insurance company organization is typically
responsible for helping to cover the insurers exposed loss
Reinsurance department
Joanne and Steven have a plied for automobile insurance with ABC auto
insurance. When the agent asked if anyone else drives a car they lied and do not
tell him that your neighbor George who lost his drivers license due to drunk
driving uses one of their cars on a regular basis to drive to work. Once the
company found how about George after he had an accident they denied the claim
siding with legal concepts as a reason
Fraud
All the following are optional property coverage is under business owner policies
Money and securities
Mechanical breakdown
Outdoor signs
In Alabama, the Commissioner of Insurance is
Appointed by the governor and serves a rearm concurrent with that of the governor
For an injury producing temporary total disability under Worker's Compensation
the compensation is what percentage of the employees average weekly earnings
at the time of the injury subject to a maximum and minimum weekly
compensation specified in the law
66-2/3%
Aviation physical damage coverage also known as aircraft hull insurance covers
all of the following
Controls
Electronic navigation
Engines
, These are the following things that are not covered by jewelers block coverage
Property being worn by the insured
Property exhibited in a showcase away from the premises
Property in transit by mail
The face amount of insurance provided by an industrial fire policy covering
buildings under the same ownership may not exceed what amount for a weekly
policy
$7,500.00
A binder is not valid be on the insurance of the policy for which it was given or
Beyond how many days
90
What is the maximum amount that the business owner policy will pay for property
damage to an outdoor sign not attached to a building
$2,500
Which of the following amounts is the maximum that an insurer will pay in case of
a loss
Limit of liability
The insured is looking for the amount of coverage in a property and casualty
policy. This information is found in the
Declaration
Comprehensive coverage pays for all the following damages
Explosion
Hitting a deer
Glass breaking
In a climate liability policy the specific date shown in the declarations indicating
the first aid events are covered by the policy is called its
Retroactive dates
Self insurance is an example of what type of risk management
Retention
Which of the following is a type of surety bond
Bid
Performance
Fiduciary
Coverage for Worker's Compensation may be obtained from all the following
Private insurance
Self insurance
The federal employers liability act
In legal terms voluntary relinquishment of a known right is called a
Waiver
These would use an error and omissions policy
Consultant
Attorney
Insurance agent
Which of the following is an eligibility requirement for homeowners policy
