ALU 101 BOOK EXAM LATEST
The National Association of Insurance Commissioners (NAIC) works to
promote uniformity in state regulation through the development of
1. audit guidelines
2. model laws
3. white papers
4. surplus requirements - ANSWERS-2
The US, a Health Insurance Portability and Accountability Act (HIPAA)
authorization must include all of the following EXCEPT:
1. an expiration date
2. the purpose of disclosure
3. the plan of insurance
4. the signature of the proposed insured - ANSWERS-3
In the US, which of the following statements regarding life insurance
regulation is/are correct?
A. Each state has its own insurance commissioner
b. Approval from the federal insurance department is required prior to
selling a life insurance product.
C. Variation be state is common
END OF
PAGE
1
, ALU 101 BOOK EXAM LATEST
Answer Options: 1. A is correct
2. A and C are correct
3. B and C are correct
4. A, B and C are correct - ANSWERS-2
compare and contrast guaranty association and Assuris. - ANSWERS-
Guaranty Association is in the US, subject audit from any state and
guarantees amounts for death benefit.
Assuris - in Canada at the companies can be regulated at the federal or
providence level and guarantee benefit payments
Explain the importance of MIB in fraud protection and how that benefits
the consumer. - ANSWERS-it protects the insures from attempts to
conceal, omit or misrepresent information material to the sound and
equitable underwriting.
Information reported to the MIB includes which of the following?
A. aviation activities
B. medical conditions
C. underwriting decisions
Answer Options: 1. A and B are correct
END OF
PAGE
2
, ALU 101 BOOK EXAM LATEST
2. A and C are correct
3. B and C are correct
4. A, B and C are correct - ANSWERS-1
In Canada, the organization responsible for supervising the financial
condition of all life insurance companies is the:
1. National Association of Insurance Commissioners (NAIC)
2. Office of the Superintendent of Financial institutions (OSFI)
3. Canadian Standards Association (CSA)
4. insurance Marketplace Standard Association (IMSA) - ANSWERS-2
Without a properly signed application, a life insurance contract can be
considered to be which of the following?
A. invalid
B. inadmissible as evidence
C. Material representation
Answer Options: 1. A only is correct
2. A and B are correct
3. B and C are correct
4. A, B and C are correct - ANSWERS-2
END OF
PAGE
3
, ALU 101 BOOK EXAM LATEST
A procedure that uses high frequency sound waves to image soft tissue:
1. X-ray
2. fluoroscopy
3. Ultrasonography (US)
4. computed tomography (CT) - ANSWERS-3
Procedures used to identify coronary artery disease include all of the
follow Except:
1. electron beam computed tomography (EBCT)
2. myocardial perfusion scan
3. positron emission tomography (PET)
4. magnetic resonance angiography (MRA) - ANSWERS-3
Test used to assist in identifying lung cancer include which of the
following:
A. Chest x-ray
B. Computed tomography (CT) scan
C. bronchoscopy
END OF
PAGE
4
The National Association of Insurance Commissioners (NAIC) works to
promote uniformity in state regulation through the development of
1. audit guidelines
2. model laws
3. white papers
4. surplus requirements - ANSWERS-2
The US, a Health Insurance Portability and Accountability Act (HIPAA)
authorization must include all of the following EXCEPT:
1. an expiration date
2. the purpose of disclosure
3. the plan of insurance
4. the signature of the proposed insured - ANSWERS-3
In the US, which of the following statements regarding life insurance
regulation is/are correct?
A. Each state has its own insurance commissioner
b. Approval from the federal insurance department is required prior to
selling a life insurance product.
C. Variation be state is common
END OF
PAGE
1
, ALU 101 BOOK EXAM LATEST
Answer Options: 1. A is correct
2. A and C are correct
3. B and C are correct
4. A, B and C are correct - ANSWERS-2
compare and contrast guaranty association and Assuris. - ANSWERS-
Guaranty Association is in the US, subject audit from any state and
guarantees amounts for death benefit.
Assuris - in Canada at the companies can be regulated at the federal or
providence level and guarantee benefit payments
Explain the importance of MIB in fraud protection and how that benefits
the consumer. - ANSWERS-it protects the insures from attempts to
conceal, omit or misrepresent information material to the sound and
equitable underwriting.
Information reported to the MIB includes which of the following?
A. aviation activities
B. medical conditions
C. underwriting decisions
Answer Options: 1. A and B are correct
END OF
PAGE
2
, ALU 101 BOOK EXAM LATEST
2. A and C are correct
3. B and C are correct
4. A, B and C are correct - ANSWERS-1
In Canada, the organization responsible for supervising the financial
condition of all life insurance companies is the:
1. National Association of Insurance Commissioners (NAIC)
2. Office of the Superintendent of Financial institutions (OSFI)
3. Canadian Standards Association (CSA)
4. insurance Marketplace Standard Association (IMSA) - ANSWERS-2
Without a properly signed application, a life insurance contract can be
considered to be which of the following?
A. invalid
B. inadmissible as evidence
C. Material representation
Answer Options: 1. A only is correct
2. A and B are correct
3. B and C are correct
4. A, B and C are correct - ANSWERS-2
END OF
PAGE
3
, ALU 101 BOOK EXAM LATEST
A procedure that uses high frequency sound waves to image soft tissue:
1. X-ray
2. fluoroscopy
3. Ultrasonography (US)
4. computed tomography (CT) - ANSWERS-3
Procedures used to identify coronary artery disease include all of the
follow Except:
1. electron beam computed tomography (EBCT)
2. myocardial perfusion scan
3. positron emission tomography (PET)
4. magnetic resonance angiography (MRA) - ANSWERS-3
Test used to assist in identifying lung cancer include which of the
following:
A. Chest x-ray
B. Computed tomography (CT) scan
C. bronchoscopy
END OF
PAGE
4
