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

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 - CORRECT ANSWER-Person covered by the insurance policy; may or may not be the po...

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 fall into what risk classification? - CORRECT ANSWER-Preferred Which of the ...

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 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 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 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...

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 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 ...