Alberta General Insurance Level 1 Practice Exam

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What starts the direct bill of premium process?

  1. A withdrawal equal to the first 60 days of coverage

  2. A notice sent to the insured

  3. An invoice generated at the end of the coverage

  4. A claim submitted by the insured

The correct answer is: A withdrawal equal to the first 60 days of coverage

The direct bill of premium process is initiated by a withdrawal equal to the first 60 days of coverage. This is because the direct bill process involves collecting premiums directly from the policyholder rather than through a third party, such as an employer or bank. Option B, a notice sent to the insured, is incorrect because this may be part of the process, but it is not what initiates it. Option C, an invoice generated at the end of the coverage, is also incorrect because an invoice is typically generated at the start of coverage, not the end. Option D, a claim submitted by the insured, is also incorrect as this refers to a completely different process of handling insurance claims.

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