Alabama Laws & Regulations Flashcards
The Commissioner must hold a hearing within _____ days after receipt of demand from an aggrieved person.
30 days
The Commissioner will conduct an examination of every domestic insurer at least once every ______ years.
5 years
What is the minimum age to obtain a producer’s license?
18 years old.
The Commissioner may issue a 1) __________, for a maximum of 2) ________ months to a surviving spouse, business partner, or employee if a producer 3)______, 4) becomes _______, or 5) ________.
1) . Temporary producer license
2) 6 months
3) dies
4) disabled
5) called to military service
The criminal fine for insurance code violations are up to $_____ for each intentional violation.
$1,000 for each intentional violation.
1) _______ OR 2) _______ CIVIL violations that could also result in suspension or revocation of license.
1) Producer OR
2) Service Representative
Amount of fine for each CIVIL violation is up to $_____ for each violation.
$10,000
30 days is the time frame to report 1) _______ 2) ______, or 3)________ to 4) _______.
1) Change of address
2) Administrative actions
3) Criminal charges
4) Commissioner
Producer insurance transaction records must be retained for at least how long?
3 years
1)______ hours of CE is required every 2)_______.
1) 24 hours
2) 2 years
Every two years, _____ hours of CE credit is required, which must include ____ hours on _____ OR _______.
1) 24 hours
2) 3 hours
3) ethics
4) business practices
Appointment of Producer: An 1) ______ must file a notice of appointment within 2) _____ days of the 3) ______ OR 4) __________.
1) Insurer
2) 15 days
3) Agency contract date OR
4) FIRST insurance application.
An insurer that terminates an appointment must notify 1) _______ within 2)_____ days.
- The Commissioner
2. 30 days
Binders are valid up to ____ days OR until ________, whichever is ______.
- 90 days
- the policy is issued
- shorter
The Insurance Guaranty Association’s maximum liability per covered claim is 1)________ for workers’ compensation claims.
- Full amount
The Insurance Guaranty Association’s maximum liability per covered claim is $_______ for all covered claims except workers’ compensation claims.
$150,000 for all covered claims EXCEPT for workers’ comp claims which is the FULL AMOUNT for each covered claim.
Notice of cancellation for Automobile Insurance is 1) ____ days before effective date of 2) _____________.
1) 10 days
2) cancellation for nonpayment of premium
Notice of cancellation for Automobile insurance is 1) _____ days before effective date of cancellation for all reasons other than 2) ______.
1) 20 days
2) for all reasons other than cancellation for nonpayment of premium which is 10 days.
The minimum bodily injury limits for Uninsured/underinsured motorist insurance 1)$________ per person and 2)$_______ per accident.
1) . $25,000 per person
2) $50,000 per accident
Stacking of limits is allowed up to _______ vehicles, IF ______________________.
3 vehicles IF multiple cars are insured ON THE SAME POLICY.
MINIMUM AUTO LIABILITY LIMITS:
1) $25K for ________
2) $50K for ________
3) $25K for _______
1) Bodily injury or death per person in any one accident.
2) Bodily injury or death to 2 or more persons in any one accident.
3) Damage to property of others in any one accident.
Accident Prevention Course: 1) ______ operator must be age 2)_____ or older AND 3)_________________ to receive accident prevention course discount.
- Principal operator
- 55 or older
- Successfully complete an accident prevention program
For workers’ comp, laws are mandatory for employers with ___ or more employers.
5 or more covered employees
TTD and PTD is ____% of the employee’s _____ subject to a maximum and minimum weekly compensation.
- 66.67%
2. AWW
