ARKANSAS HEALTH INSURANCE EXAM
Questions and Answers (Verified Answers) (Latest
Update 2025) UPDATE!!
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Terms in this set (226)
In order for a contract to Contain an offer & acceptance
be valid, it must:
When does a nondisabled Age 65
person first qualify for a
Medicare Supplement
Policy?
A life insurance company Reinsurer
has transferred some of its
risk to another insurer. The
insurer assuming the risk is
called the:
A common exclusion with Lasik Surgery
vision plans is:
What are applicants Representation
statements concerning
occupation, hobbies and
personal health history?
States that have "no loss, Pay for ongoing claims under the policy it replaces
no gain" laws require a
replacing policy to:
,A rehabilitation benefit is Prepare the insured to return to employment
intended to:
Which of the following The secondary payor to reduce their benefit
does coordination of payments so no more than 100% of the claim is paid
benefits allow?
An insurer may pay a To a licensed producer who is appointed with the
commission in which of insurer
the following scenarios:
In which of the following The insured suffered an injury during a bank robbery
situations would the
insurer be liable for a
loss?
The Fair Credit and Protect consumers with guidelines regarding credit
Reporting Act's main reporting and distribution
purpose is to:
J is a producer who has Twisting
induced an insured
through misrepresentation
to surrender an existing
insurance policy. What is J
guilty of?
Authority that is not specifically given to an agent
What is implied authority
contract, but that an agent can reasonably assume to
defined as?
carry out his/her duties
A person who is a Preferred
nonsmoker, average
weight, excellent health
would fall into what risk
classification:
,Which of the following is Annuitization phase
considered to be the
period when the
accumulated value in an
annuity is paid out?
An insurers claim State insurance departments
settlement practices are
regulated by the:
The two major actions provide evidence of insurability, pay past due
required for a premiums
policyholder to comply
with the Reinstatement
Clause are:
An insurers ability to make Liquidity
unpredictable payouts to
policy owners is called:
Which of the following Underwriting
pertains to the analysis of
an applicants personal
information and
determining whether
insurance should be
issued or declined?
What does the Group Life Adverse Selection
underwriting risk selection
process help protect
insurance companies
from?
, The Arkansas Life & Liability Insurance
Disability Insurance
Guaranty Association
assures payment of
benefits from insurance
policies for insolvent
insurers, and covers all of
the following insured
policies, EXCEPT:
Pat owns a 20-pay life The policy may be paid up early by using policy
policy with a paid-up dividends?
dividend option. Which is
true?
What would happen if a Claim will be paid if application is approved
life insurance applicant is
given a conditional receipt
from an insurance agent
and then dies the next
day?
A policy owner can Viatical Settlement agreement
receive a percentage
payment of the death
benefits prior to death by
using what kind of
contract?
A life insurance policy Revoke an absolute assignment
owner does NOT have the
right to:
An employee under a Convert to an individual policy in the event of
group insurance policy employment termination
has the right to name a
beneficiary and the right
to:
Questions and Answers (Verified Answers) (Latest
Update 2025) UPDATE!!
Save
Terms in this set (226)
In order for a contract to Contain an offer & acceptance
be valid, it must:
When does a nondisabled Age 65
person first qualify for a
Medicare Supplement
Policy?
A life insurance company Reinsurer
has transferred some of its
risk to another insurer. The
insurer assuming the risk is
called the:
A common exclusion with Lasik Surgery
vision plans is:
What are applicants Representation
statements concerning
occupation, hobbies and
personal health history?
States that have "no loss, Pay for ongoing claims under the policy it replaces
no gain" laws require a
replacing policy to:
,A rehabilitation benefit is Prepare the insured to return to employment
intended to:
Which of the following The secondary payor to reduce their benefit
does coordination of payments so no more than 100% of the claim is paid
benefits allow?
An insurer may pay a To a licensed producer who is appointed with the
commission in which of insurer
the following scenarios:
In which of the following The insured suffered an injury during a bank robbery
situations would the
insurer be liable for a
loss?
The Fair Credit and Protect consumers with guidelines regarding credit
Reporting Act's main reporting and distribution
purpose is to:
J is a producer who has Twisting
induced an insured
through misrepresentation
to surrender an existing
insurance policy. What is J
guilty of?
Authority that is not specifically given to an agent
What is implied authority
contract, but that an agent can reasonably assume to
defined as?
carry out his/her duties
A person who is a Preferred
nonsmoker, average
weight, excellent health
would fall into what risk
classification:
,Which of the following is Annuitization phase
considered to be the
period when the
accumulated value in an
annuity is paid out?
An insurers claim State insurance departments
settlement practices are
regulated by the:
The two major actions provide evidence of insurability, pay past due
required for a premiums
policyholder to comply
with the Reinstatement
Clause are:
An insurers ability to make Liquidity
unpredictable payouts to
policy owners is called:
Which of the following Underwriting
pertains to the analysis of
an applicants personal
information and
determining whether
insurance should be
issued or declined?
What does the Group Life Adverse Selection
underwriting risk selection
process help protect
insurance companies
from?
, The Arkansas Life & Liability Insurance
Disability Insurance
Guaranty Association
assures payment of
benefits from insurance
policies for insolvent
insurers, and covers all of
the following insured
policies, EXCEPT:
Pat owns a 20-pay life The policy may be paid up early by using policy
policy with a paid-up dividends?
dividend option. Which is
true?
What would happen if a Claim will be paid if application is approved
life insurance applicant is
given a conditional receipt
from an insurance agent
and then dies the next
day?
A policy owner can Viatical Settlement agreement
receive a percentage
payment of the death
benefits prior to death by
using what kind of
contract?
A life insurance policy Revoke an absolute assignment
owner does NOT have the
right to:
An employee under a Convert to an individual policy in the event of
group insurance policy employment termination
has the right to name a
beneficiary and the right
to:
