Arkansas Life Insurance Exam Questions With 100% Correct Answers | Verified Solutions | 2024 Update

Arkansas Life Insurance Exam Questions With 100% Correct Answers | Verified Solutions | 2024 Update J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - -Twisting What is implied authority defined as? - -Authority that is not specifically given to an agent contract, but that an agent can reasonably assume to carry out his/her duties A person who is a nonsmoker, average weight, excellent health would fall into what risk classification? - -Preferred Which of the following is considered to be the period when the accumulated value in an annuity is paid out? - -Annuitization phase An insurers claim settlement practices are regulated by the: - -State insurance departments An insurers ability to make unpredictable payouts to policy owners is called: - - Liquidity Which of the following pertains to the analysis of an applicants personal information and determining whether insurance should be issued or declined? - -Underwriting What does the Group Life underwriting risk selection process help protect insurance companies from? - -Adverse Selection The Arkansas Life & Disability Insurance Guaranty Association assures payment of benefits from insurance policies for insolvent insurers, and covers all of the following insured policies, EXCEPT: - -Liability Insurance What would happen if a life insurance applic