Arkansas Life Insurance Study guides, Class notes & Summaries

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

ARKANSAS LIFE INSURANCE EXAM WITH 100% CORRECT ANSWERS 2023

ARKANSAS LIFE INSURANCE EXAM QUESTIONS AND ANSWERS 100% PASS J is a producer who has induced an insured through misrepresentation to surrender an existing insurance policy. What is J guilty of? - Correct Answer ️️ -Twisting What is implied authority defined as? - Correct Answer ️️ -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 fal...

Arkansas Health insurance exam questions and answers 100% pass If an agent makes a correction on the application for health insurance, who must initial the correct answer? - Correct Answer ️️ -The applicant What is the term used for a written request for an insurer to issue an insurance contract based on the provided information? - Correct Answer ️️ -Application What information are the members of the Medical Information Bureau required to report? - Correct Answer ️️ -Adverse ...

Arkansas Life Insurance Exam Questions and Answers 100% Pass Accelerated Benefits - Correct Answer ️️ -Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits - Correct Answer ️️ -A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance - Correct Answer ️️ -An insura...

Arkansas Health Insurance Exam Terms Questions and Answers 100% Pass Accident - Correct Answer ️️ -An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Accident Insurance - Correct Answer ️️ -A type of insurance that protects the insured against loss due to accidental bodily injury. Accidental Bodily Injury - Correct Answer ️️ -Unplanned, unforeseen traumatic injury to the body. Accidental Death and Dismemberment - Correct Answer ️️ -An insura...

Arkansas Life Insurance Exam Questions and Answers 100% Pass Adverse Selection - Correct Answer ️️ -Insuring of risks that are more prone to losses than the average risk. Death Benefit - Correct Answer ️️ -The amount paid upon the death of the insured in a life insurance policy. Insurance Policy - Correct Answer ️️ -A contract between a policyowner/insured and an insurance company which agrees to pay the insured or the beneficiary for loss caused by specific events. Insured ...

Life- Chapter 15 (AR State Law) Exam Questions and Answers 100% Pass LIFE AND HEALTH LAWS Insurance Commissioner - Correct Answer ️️ -Appointed by the Governor with the advice and consent of the Senate. - Correct Answer ️️ -Must be resident of this state and be at least 30 years of age. - Correct Answer ️️ -Shall execute a $50,000 bond to the State of Arkansas. General Duties & Powers of Commissioner - Correct Answer ️️ -General supervision, control, regulation or persons...

Property and Casualty License in Arkansas Exam Questions and Answers 100% Pass What is Insurance? - Correct Answer ️️ -Transfers the risk of loss from individual to insurance co. What is Risk? - Correct Answer ️️ -Chance of loss occuring What are 3 types of Hazzards? - Correct Answer ️️ -Physical, Moral, Morale What is a Peril? - Correct Answer ️️ -Causes of loss insured against What does Indemnify mean? - Correct Answer ️️ -Right for Reimbursement but only to the ex...

Arkansas Health Insurance Study Questions with 100% Correct Answers At what point must a life insurance applicant be informed of their right that fall under the Fair Credit Reporting Act? - Correct Answer ️️ -upon completion of the application Who elects the governing body of a mutual insurance company? - Correct Answer ️️ - policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the - Correct Answer ️️ ...

Chapter Exam - Arkansas Laws and Rules Questions and Answers 100% Pass Greg had recently been terminated from his job that covered him for group life insurance. How long does he have to convert his coverage to an individual policy without needing to prove insurability? - Correct Answer ️️ -31 days All insurers must be members of what organization, as a condition of their authority to transact insurance in Arkansas - Correct Answer ️️ -Arkansas life and disability insurance guarant...