ARKANSAS LIFE INSURANCE EXAM
QUESTIONS AND CORRECT
ANSWERS 2026 LATEST PREP GUIDE
◉ What is the name of a single policy covering two or more lives that
pays benefits upon the death of the first insured?
A. Accidental Death
B. Joint Survivorship Life
C. Joint Life
D. Universal Life.
Answer: C. Joint Life
◉ Which of the following is TRUE of a term rider when attached to a
permanent life policy?
A. It allows the policy to achieve paid up status at the end of the term.
B. It can provide additional temporary coverage on the insured or on
other members of the family.
C. It always is in the amount of the base policy
D. It only pays out a death benefit in cases of accidental death.
Answer: B. It can provide additional temporary coverage on the insured
or on other members of the family
◉ For those individuals who have health issues, which of the following
would be an insurance plan to consider?
A. Decreasing Term
,B. Joint Life
C. Group
D. Variable Universal Life.
Answer: C. Group
◉ T has some hearth health issues but needs some additional life
insurance coverage. What options should T consider?
A. A group life insurance plan
B. A group health insurance plan
C. Universal Life Option B
D. Adjustable Life.
Answer: A. A group life insurance plan
◉ If Alvin purchases a Variable Universal Life Policy with a face
amount of $250,000, and chooses death benefit Option B, upon his death
the amount of the benefit payable to the beneficiary would be ________
if the policy had $25,000 in cash values.
A. $225,000
B. $250,000
C. Nothing
D. $275,000.
Answer: D. $275,000
,◉ Linda wants her husband to be the beneficiary of her life policy but
also wants to retain all rights of ownership. Which of the following types
of beneficiary designations should she use?
A. Contingent beneficiary
B. Tertiary beneficiary
C. Irrevocable beneficiary
D. Revocable beneficiary.
Answer: D. Revocable
◉ Which of the following annuities does not have a traditional
accumulation phase?
A. Flexible premium deferred
B. Single premium deferred
C. Single premium immediate
D. Periodic premium deferred.
Answer: C. Single premium immediate
◉ An insured forgets to pay his insurance premium. Instead of the
policy lapsing, the premium is paid by the company. This would suggest
that a __________ policy was purchased.
A. Renewable term
B. Level term
C. Decreasing term
D. Whole Life.
, Answer: D. Whole life
◉ Which of the following riders can be used to cover the life of an
additional insured who is an unrelated business partner?
A. Spouse rider
B. Child rider
C. Family rider
D. Nonfamily rider.
Answer: D. Nonfamily rider
◉ In all cases upon the insured's death, the beneficiary receives which of
the following?
A. The policy's rider values
B. A refund of premiums
C. The policy's cash values
D. The face amount of the policy.
Answer: D. The face amount of the policy
◉ Instead of waiting to receive her payments over time Jeanne decides
to obtain the greatest amount of money out of her annuity immediately.
Which option did she choose?
A. Life income with refund
B. Life income period certain
C. Straight life option (life income)
QUESTIONS AND CORRECT
ANSWERS 2026 LATEST PREP GUIDE
◉ What is the name of a single policy covering two or more lives that
pays benefits upon the death of the first insured?
A. Accidental Death
B. Joint Survivorship Life
C. Joint Life
D. Universal Life.
Answer: C. Joint Life
◉ Which of the following is TRUE of a term rider when attached to a
permanent life policy?
A. It allows the policy to achieve paid up status at the end of the term.
B. It can provide additional temporary coverage on the insured or on
other members of the family.
C. It always is in the amount of the base policy
D. It only pays out a death benefit in cases of accidental death.
Answer: B. It can provide additional temporary coverage on the insured
or on other members of the family
◉ For those individuals who have health issues, which of the following
would be an insurance plan to consider?
A. Decreasing Term
,B. Joint Life
C. Group
D. Variable Universal Life.
Answer: C. Group
◉ T has some hearth health issues but needs some additional life
insurance coverage. What options should T consider?
A. A group life insurance plan
B. A group health insurance plan
C. Universal Life Option B
D. Adjustable Life.
Answer: A. A group life insurance plan
◉ If Alvin purchases a Variable Universal Life Policy with a face
amount of $250,000, and chooses death benefit Option B, upon his death
the amount of the benefit payable to the beneficiary would be ________
if the policy had $25,000 in cash values.
A. $225,000
B. $250,000
C. Nothing
D. $275,000.
Answer: D. $275,000
,◉ Linda wants her husband to be the beneficiary of her life policy but
also wants to retain all rights of ownership. Which of the following types
of beneficiary designations should she use?
A. Contingent beneficiary
B. Tertiary beneficiary
C. Irrevocable beneficiary
D. Revocable beneficiary.
Answer: D. Revocable
◉ Which of the following annuities does not have a traditional
accumulation phase?
A. Flexible premium deferred
B. Single premium deferred
C. Single premium immediate
D. Periodic premium deferred.
Answer: C. Single premium immediate
◉ An insured forgets to pay his insurance premium. Instead of the
policy lapsing, the premium is paid by the company. This would suggest
that a __________ policy was purchased.
A. Renewable term
B. Level term
C. Decreasing term
D. Whole Life.
, Answer: D. Whole life
◉ Which of the following riders can be used to cover the life of an
additional insured who is an unrelated business partner?
A. Spouse rider
B. Child rider
C. Family rider
D. Nonfamily rider.
Answer: D. Nonfamily rider
◉ In all cases upon the insured's death, the beneficiary receives which of
the following?
A. The policy's rider values
B. A refund of premiums
C. The policy's cash values
D. The face amount of the policy.
Answer: D. The face amount of the policy
◉ Instead of waiting to receive her payments over time Jeanne decides
to obtain the greatest amount of money out of her annuity immediately.
Which option did she choose?
A. Life income with refund
B. Life income period certain
C. Straight life option (life income)
