XCEL Chapter 11 Chapter Exam
1. Maria the insurance producer completes a sale by collecting the required signatures on the
application and obtaining the initial premium. Afterwards, she deposited the check into a personal
checking account. Maria committed what crime?
✔️ Fraud
2. Making a statement that is false and maliciously critical of the financial condition of the insurer is
known as:
✔️ Defamation
3. Which of the following statements is true about an insurer's right to screen applicants for HIV?
✔️ An insurer can require a blood test for HIV
4. What information is found in a life insurance buyers guide?
✔️ How to compare life insurance policy rates, how to compare life insurance policy requirements,
how to determine how much life insurance to purchase.
5. The commissioner MUST give a MINIMUM of how many days' notice of a disciplinary hearing?
✔️ 10 days
6. An insurer may pay a commission in which of the following scenarios?
✔️ To a licensed producer who is appointed with the insurer
7. Which of the following is permitted in an advertisement for an insurance policy?
✔️ The insurer's name
8. A foreign insurance company is defined as one that is:
✔️ Formed under the laws of a state other than Arkansas
, 9. An example of replacement is:
✔️ Canceling a term life policy to buy a whole life policy
10. If dividends are illustrated, the advertisement must state that the dividends are:
✔️ Not guaranteed
11. A life insurance policy becomes incontestable after it has been in force for:
✔️ 2 years
12. During hearing proceedings, if a person files a waiver of immunity or privilege, and the testimony is
produced before court or jury, the person loses their__________.
✔️ Immunity
13. Which of the following basics is a producer's fiduciary responsibility?
✔️ Collecting premiums and paying them to the insurance company
14. How long must the commissioner maintain a complete record for every licensee in Arkansas for?
✔️ As long as He/She deems necessary.
15. The following are considered deceptive and unfair practices and are prohibited:
✔️ Referring to an insurance premium as an investment, deposit, or savings; making any
misrepresentation or false, deceptive, or misleading statement; indicating that cash or loan values are
death benefits payable in addition to the insurance policy's face amount.
16. A producer's license CANNOT be revoked without:
✔️ A hearing given to the producer
17. An Arkansas temporary producer license may be issued for a period not to exceed?
✔️ 180 days
1. Maria the insurance producer completes a sale by collecting the required signatures on the
application and obtaining the initial premium. Afterwards, she deposited the check into a personal
checking account. Maria committed what crime?
✔️ Fraud
2. Making a statement that is false and maliciously critical of the financial condition of the insurer is
known as:
✔️ Defamation
3. Which of the following statements is true about an insurer's right to screen applicants for HIV?
✔️ An insurer can require a blood test for HIV
4. What information is found in a life insurance buyers guide?
✔️ How to compare life insurance policy rates, how to compare life insurance policy requirements,
how to determine how much life insurance to purchase.
5. The commissioner MUST give a MINIMUM of how many days' notice of a disciplinary hearing?
✔️ 10 days
6. An insurer may pay a commission in which of the following scenarios?
✔️ To a licensed producer who is appointed with the insurer
7. Which of the following is permitted in an advertisement for an insurance policy?
✔️ The insurer's name
8. A foreign insurance company is defined as one that is:
✔️ Formed under the laws of a state other than Arkansas
, 9. An example of replacement is:
✔️ Canceling a term life policy to buy a whole life policy
10. If dividends are illustrated, the advertisement must state that the dividends are:
✔️ Not guaranteed
11. A life insurance policy becomes incontestable after it has been in force for:
✔️ 2 years
12. During hearing proceedings, if a person files a waiver of immunity or privilege, and the testimony is
produced before court or jury, the person loses their__________.
✔️ Immunity
13. Which of the following basics is a producer's fiduciary responsibility?
✔️ Collecting premiums and paying them to the insurance company
14. How long must the commissioner maintain a complete record for every licensee in Arkansas for?
✔️ As long as He/She deems necessary.
15. The following are considered deceptive and unfair practices and are prohibited:
✔️ Referring to an insurance premium as an investment, deposit, or savings; making any
misrepresentation or false, deceptive, or misleading statement; indicating that cash or loan values are
death benefits payable in addition to the insurance policy's face amount.
16. A producer's license CANNOT be revoked without:
✔️ A hearing given to the producer
17. An Arkansas temporary producer license may be issued for a period not to exceed?
✔️ 180 days
