ARKANSAS LIFE INSURANCE EXAM
_____ is NOT a supply of records which can assist an underwriter in figuring out whether or not
or now not to simply accept a threat - ANS-National Association of Insurance Underwriters
1035 alternate plan - ANS-
A beneficiary charge can occur - ANS-Normally at any time throughout the coverage time period
A domestic coverage company in Arkansas MUST - ANS-Be prepared under Arkansas
Insurance laws
A overseas coverage corporation is defined as one that is - ANS-Formed below the laws of a
country aside from Arkansas
A assured problem coverage policy has no - ANS-Medical underwriting
A licensee who is required to take persevering with training need to entire _____ hours of
continuing training coursework? - ANS-24 hours
*three of which ought to be associated with ethics
A lifestyles coverage declare which entails a according to capita distribution of coverage
proceeds would be payable to the - ANS-Named living number one beneficiaries
A life coverage policy owner does NOT have the proper to: - ANS-Revoke an absolute task
A lifestyles coverage loan in Arkansas can't price a set price of interest better than - ANS-8%
A restrained charge entire existence policy provides - ANS-Lifetime protection
A non-contributory medical health insurance plan helps the insurer keep away from -
ANS-Adverse choice
A man or woman need to be at the least ____________ years of age to enter into an coverage
settlement within the state of Arkansas - ANS-18
A man or woman who's a nonsmoker, average weight, super health would fall into what hazard
category? - ANS-Preferred
,A policy owner is illegal from making any adjustments to the coverage without the beneficiary's
written consent underneath which beneficiary designation? - ANS-Irrevocable beneficiary
A policy owner can also alternate two coverage functions on what form of life insurance? -
ANS-Adjustable life
*permits for changes on top rate and face amount
A coverage proprietor may workout which of those dividend options that makes use of the
dividend to pay all or part of the subsequent top rate due? - ANS-Reduction of top class
dividend option
A manufacturer may additionally begin to solicit coverage ONLY whilst - ANS-Appointed with the
aid of insurer
*a producer won't sell, solicit, or negotiate insurance on behalf of an insurer until the
manufacturer has an appointment from the insurer
A producer ought to entire persevering with training each ____ years so that it will keep their
license in Arkansas - ANS-2
A manufacturer who knowingly submits FALSE statements in support of a declare can be
discovered guilty of - ANS-Fraud
A manufacturer's license CANNOT be revoked without - ANS-A listening to given to the
producer
A expert legal responsibility for which producers may be sued for errors of placing a coverage
into effect is known as - ANS-Errors and omissions
A provision that permits a policyowner to briefly give up ownership rights to relaxed a loan is
referred to as a(n) - ANS-Collateral undertaking
*permits someone to briefly give up a element in their ownership to secure a mortgage
A Renewable Term Life insurance coverage can be renewed - ANS-At a pre-decided date or
age, no matter the insured's health
A Roth IRA proprietor need to be at the least what age with the intention to make
tax-unfastened withdrawals? - ANS-59 1/2 and owned an account for at the very least five years
A stock insurance organisation - ANS-is owned completely through its shareholders
, A sort of organization that has a charter and bylaws and has been prepared for functions aside
from obtaining insurance is known as a(n) - ANS-Association or hard work group
A sort of insurer that is owned by using its policyowners is referred to as - ANS-Mutual
A whole life insurance coverage accumulates coins price that becomes - ANS-The coverage
mortgage price which the insured may additionally borrow against
A(n) _____ license is issued by using the Commissioner of Insurance to allow the non-public
consultant of a deceased manufacturer to provide service to current policyowners -
ANS-Temporary
elevated demise blessings rider - ANS-permits insureds who're terminally unwell to acquire
element or all of their lifestyles coverage blessings earlier than they die
Accidental Death Rider - ANS-pays some a couple of of the face amount if death is the result of
an coincidence as described in the coverage
Accumulation at Interest Option - ANS-A dividend option below which the policy owner permits
dividends to accumulate at hobby with the agency. Only the hobby at the dividends is taxable as
income (taking part rules best).
Advertising statistics are issue to examination by using the Arkansas Insurance Department,
and have to be maintained for at least - ANS-four years or until the next ordinary examination by
way of the Department, whichever is longer
All of those are taken into consideration key elements in underwriting lifestyles insurance
EXCEPT - ANS-Marital popularity
All of those are settlement alternatives for lifestyles coverage guidelines EXCEPT -
ANS-Extended time period
All riders can growth the loss of life benefit amount EXCEPT - ANS-Waiver of Premium
An applicant's person and private conduct may be acquired for underwriting purposes from
which supply? - ANS-Investigative client file
*distinct report that includes information on a client's individual, general reputation, non-public
characteristics, or mode of living and is obtained thru private interviews with buddies, buddies,
or associates of the patron
An worker below a collection coverage coverage has the proper to call a beneficiary and the
proper to: - ANS-Convert to an character coverage in the event of employment termination
_____ is NOT a supply of records which can assist an underwriter in figuring out whether or not
or now not to simply accept a threat - ANS-National Association of Insurance Underwriters
1035 alternate plan - ANS-
A beneficiary charge can occur - ANS-Normally at any time throughout the coverage time period
A domestic coverage company in Arkansas MUST - ANS-Be prepared under Arkansas
Insurance laws
A overseas coverage corporation is defined as one that is - ANS-Formed below the laws of a
country aside from Arkansas
A assured problem coverage policy has no - ANS-Medical underwriting
A licensee who is required to take persevering with training need to entire _____ hours of
continuing training coursework? - ANS-24 hours
*three of which ought to be associated with ethics
A lifestyles coverage declare which entails a according to capita distribution of coverage
proceeds would be payable to the - ANS-Named living number one beneficiaries
A life coverage policy owner does NOT have the proper to: - ANS-Revoke an absolute task
A lifestyles coverage loan in Arkansas can't price a set price of interest better than - ANS-8%
A restrained charge entire existence policy provides - ANS-Lifetime protection
A non-contributory medical health insurance plan helps the insurer keep away from -
ANS-Adverse choice
A man or woman need to be at the least ____________ years of age to enter into an coverage
settlement within the state of Arkansas - ANS-18
A man or woman who's a nonsmoker, average weight, super health would fall into what hazard
category? - ANS-Preferred
,A policy owner is illegal from making any adjustments to the coverage without the beneficiary's
written consent underneath which beneficiary designation? - ANS-Irrevocable beneficiary
A policy owner can also alternate two coverage functions on what form of life insurance? -
ANS-Adjustable life
*permits for changes on top rate and face amount
A coverage proprietor may workout which of those dividend options that makes use of the
dividend to pay all or part of the subsequent top rate due? - ANS-Reduction of top class
dividend option
A manufacturer may additionally begin to solicit coverage ONLY whilst - ANS-Appointed with the
aid of insurer
*a producer won't sell, solicit, or negotiate insurance on behalf of an insurer until the
manufacturer has an appointment from the insurer
A producer ought to entire persevering with training each ____ years so that it will keep their
license in Arkansas - ANS-2
A manufacturer who knowingly submits FALSE statements in support of a declare can be
discovered guilty of - ANS-Fraud
A manufacturer's license CANNOT be revoked without - ANS-A listening to given to the
producer
A expert legal responsibility for which producers may be sued for errors of placing a coverage
into effect is known as - ANS-Errors and omissions
A provision that permits a policyowner to briefly give up ownership rights to relaxed a loan is
referred to as a(n) - ANS-Collateral undertaking
*permits someone to briefly give up a element in their ownership to secure a mortgage
A Renewable Term Life insurance coverage can be renewed - ANS-At a pre-decided date or
age, no matter the insured's health
A Roth IRA proprietor need to be at the least what age with the intention to make
tax-unfastened withdrawals? - ANS-59 1/2 and owned an account for at the very least five years
A stock insurance organisation - ANS-is owned completely through its shareholders
, A sort of organization that has a charter and bylaws and has been prepared for functions aside
from obtaining insurance is known as a(n) - ANS-Association or hard work group
A sort of insurer that is owned by using its policyowners is referred to as - ANS-Mutual
A whole life insurance coverage accumulates coins price that becomes - ANS-The coverage
mortgage price which the insured may additionally borrow against
A(n) _____ license is issued by using the Commissioner of Insurance to allow the non-public
consultant of a deceased manufacturer to provide service to current policyowners -
ANS-Temporary
elevated demise blessings rider - ANS-permits insureds who're terminally unwell to acquire
element or all of their lifestyles coverage blessings earlier than they die
Accidental Death Rider - ANS-pays some a couple of of the face amount if death is the result of
an coincidence as described in the coverage
Accumulation at Interest Option - ANS-A dividend option below which the policy owner permits
dividends to accumulate at hobby with the agency. Only the hobby at the dividends is taxable as
income (taking part rules best).
Advertising statistics are issue to examination by using the Arkansas Insurance Department,
and have to be maintained for at least - ANS-four years or until the next ordinary examination by
way of the Department, whichever is longer
All of those are taken into consideration key elements in underwriting lifestyles insurance
EXCEPT - ANS-Marital popularity
All of those are settlement alternatives for lifestyles coverage guidelines EXCEPT -
ANS-Extended time period
All riders can growth the loss of life benefit amount EXCEPT - ANS-Waiver of Premium
An applicant's person and private conduct may be acquired for underwriting purposes from
which supply? - ANS-Investigative client file
*distinct report that includes information on a client's individual, general reputation, non-public
characteristics, or mode of living and is obtained thru private interviews with buddies, buddies,
or associates of the patron
An worker below a collection coverage coverage has the proper to call a beneficiary and the
proper to: - ANS-Convert to an character coverage in the event of employment termination
