Alabama Life and Health Insurance Exam
Questions and Answers
The Fair Credit Reporting Act - ✔✔what law protects consumers from the
circulation of inaccurate or obsolete information?
domestic, foreign, and alien - ✔✔Insurers are classified according to their
domicile. What are the 3 types of insurers?
Fraternal insurer - ✔✔what type of insurer is a voluntarily formed
organization that provides religious organizations with a representative
form of government?
mutual company - ✔✔the type of insurance company organized to return
any surplus money to its policyholders is known as what?
Insurer - ✔✔when agents act within the scope of their contract, their
actions will be assumed to be the actions of whom?
underwriting - ✔✔what is the name of the process that insurance
companies use to determine if an applicant is insurable?
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, provide the aplicant with a Disclosure Authorization Notice - ✔✔if an
insurer needs to obtain information about the applicant from investigators,
what is the insurer required to do?
Alien - ✔✔what type of insurer is formed under the laws of another
country?
adverse selection - ✔✔when risks with higher probability of loss are
seeking insurance more often than other risks, is known as what?
when to policy is delivered and the premium is paid. - ✔✔when does an
insurance policy go into effect?
an agent or producer - ✔✔according to the Law of Agency, a principal is
represented by whom?
pure - ✔✔what type of risk is insurable?
stockholders - ✔✔who owns stock companies?
Insurers - ✔✔what entities make up the Medical Information Bureau?
complete a new application of ask the applicant to initial the correction on
the original application - ✔✔when a change needs to be made on the
Copyright ©EMILLECT 2024. ALL RIGHTS RESERVED. Page 2/7
Questions and Answers
The Fair Credit Reporting Act - ✔✔what law protects consumers from the
circulation of inaccurate or obsolete information?
domestic, foreign, and alien - ✔✔Insurers are classified according to their
domicile. What are the 3 types of insurers?
Fraternal insurer - ✔✔what type of insurer is a voluntarily formed
organization that provides religious organizations with a representative
form of government?
mutual company - ✔✔the type of insurance company organized to return
any surplus money to its policyholders is known as what?
Insurer - ✔✔when agents act within the scope of their contract, their
actions will be assumed to be the actions of whom?
underwriting - ✔✔what is the name of the process that insurance
companies use to determine if an applicant is insurable?
Copyright ©EMILLECT 2024. ALL RIGHTS RESERVED. Page 1/7
, provide the aplicant with a Disclosure Authorization Notice - ✔✔if an
insurer needs to obtain information about the applicant from investigators,
what is the insurer required to do?
Alien - ✔✔what type of insurer is formed under the laws of another
country?
adverse selection - ✔✔when risks with higher probability of loss are
seeking insurance more often than other risks, is known as what?
when to policy is delivered and the premium is paid. - ✔✔when does an
insurance policy go into effect?
an agent or producer - ✔✔according to the Law of Agency, a principal is
represented by whom?
pure - ✔✔what type of risk is insurable?
stockholders - ✔✔who owns stock companies?
Insurers - ✔✔what entities make up the Medical Information Bureau?
complete a new application of ask the applicant to initial the correction on
the original application - ✔✔when a change needs to be made on the
Copyright ©EMILLECT 2024. ALL RIGHTS RESERVED. Page 2/7
