Chapter-Arkansas General Insurance
Laws Test Questions and All Correct
Answers 2025-2026.
any life and health insurance products and procedures are somewhat common to all states.
Many legal requirements are also similar from one state to another, either because - Answer
they are federal laws that apply nationwide, such as ERISA (the pension law that explicitly pre-
empts state law) or the securities laws that apply to variable insurance products that are
enforced by the Financial Industry Regulatory Authority (FINRA); or
they are based on NAIC model laws that have been adopted by most state legislatures.
A domestic insurer is formed under - Answer the laws of Arkansas
A foreign insurer is formed under - Answer the laws of a state, district, territory, or
commonwealth of the United States other than Arkansas.
An alien insurer is incorporated and organized in - Answer any country other than the United
States, its states, territories, and commonwealths.
A fraternal benefit society is a nonprofit entity that - Answer operates on the lodge system,
has a representative form of government
has no capital stock, and
sells insurance primarily to its members
A fraternal benefit society may offer the following benefits: - Answer life insurance
endowment contracts
annuities
temporary or permanent disability insurance
hospital, medical, or nursing benefits
monument or tombstone benefits to the memory of deceased members
other benefits that life insurers may provide
A fraternal benefit society must issue a _____________________ to each policy owner, which
Laws Test Questions and All Correct
Answers 2025-2026.
any life and health insurance products and procedures are somewhat common to all states.
Many legal requirements are also similar from one state to another, either because - Answer
they are federal laws that apply nationwide, such as ERISA (the pension law that explicitly pre-
empts state law) or the securities laws that apply to variable insurance products that are
enforced by the Financial Industry Regulatory Authority (FINRA); or
they are based on NAIC model laws that have been adopted by most state legislatures.
A domestic insurer is formed under - Answer the laws of Arkansas
A foreign insurer is formed under - Answer the laws of a state, district, territory, or
commonwealth of the United States other than Arkansas.
An alien insurer is incorporated and organized in - Answer any country other than the United
States, its states, territories, and commonwealths.
A fraternal benefit society is a nonprofit entity that - Answer operates on the lodge system,
has a representative form of government
has no capital stock, and
sells insurance primarily to its members
A fraternal benefit society may offer the following benefits: - Answer life insurance
endowment contracts
annuities
temporary or permanent disability insurance
hospital, medical, or nursing benefits
monument or tombstone benefits to the memory of deceased members
other benefits that life insurers may provide
A fraternal benefit society must issue a _____________________ to each policy owner, which
