Arkansas State Insurance Laws Exam with 100% Correct Answers 2025/2026

Arkansas State Insurance Laws Exam with 100% Correct Answers 2025/2026 WHICH OF THE FOLLOWING IS NOT A POWER OF THE INSURANCE COMMISSIONER? - answer-WRITING THE INSURANCE LAWS -insurance laws are created by the state legislature & enforced by the commissioner THE COMMISSIONER MUST EXAMINE A DOMESTIC INSURER DOING BUSINESS IN ARKANSAS AT LEAST ONCE EVERY HOW MANY YEARS? - answer-EVERY 5 YEARS -the commissioner of insurance may examine the transactions, accounts & records of each insurer as often as necessary & no less often than once every 5 years A HEARING MUST BE HELD WITHIN HOW MANY DAYS AFTER IT IS REQUESTED? - answer-HEARING MUST BE HELD W/IN 30 DAYS AFTER REQUEST -& must give notice of date, time & location 10 days in advance THE COMMISSIONER MAY FINE A LICENSED AGENT FOR VIOLATING INSURANCE LAW UP TO __ AMOUNT? - answer-$1000 A TEMPORARY LICENSE ISSUED TO A REPRESENTATIVE OF A LICENSED PRODUCER WHO DIES OR BECOMES DISABLED IS VALID FOR ___ MANY DAYS? - answer-180 DAYS AN INDIVIDUAL APPLYING FOR AN INSURANCE LICENSE IN AR. BUST BE NO YOUNGER THAN __? - answer-18 YEARS OLD IN ORDER FOR A BUSINESS ENTITY TO OBTAIN A PRODUCER LICENSE, IT MUST COMPLY WITH WHICH OF THE FOLLOWING REQUIREMENTS? - answer-DESIGNATE A LICENSED COMPLIANCE OFFICER