{"id":117302,"date":"2023-08-28T13:06:57","date_gmt":"2023-08-28T13:06:57","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=117302"},"modified":"2023-08-28T13:06:59","modified_gmt":"2023-08-28T13:06:59","slug":"arkansas-property-and-casualty-license-exam-questions-latest-2023-verified-answers-2-exam-elaborations-arkansas-health-insurance-exam-questions-and-answers-2023-verified-answers-3-exam-elabor","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/28\/arkansas-property-and-casualty-license-exam-questions-latest-2023-verified-answers-2-exam-elaborations-arkansas-health-insurance-exam-questions-and-answers-2023-verified-answers-3-exam-elabor\/","title":{"rendered":"Arkansas Property and Casualty License Exam Questions Latest 2023 (Verified Answers) 2 Exam (elaborations) ARKANSAS HEALTH INSURANCE EXAM Questions and Answers (2023) (Verified Answers) 3 Exam (elaborations) Arkansas State Law Insurance Licensing – Chapter 15: Exam Q&A (with Verified Answers) 2023"},"content":{"rendered":"\n

Arkansas State Law Insurance Licensing – Chapter 15:
Exam Q&A (with Verified Answers) 2023
The Commissioner of insurance has all of the following duties and powers,
except:
a. The insurance Commissioner may update the insurance code (law) as
needed
b. The Commissioner regulates premium rates
c. The Commissioner may institute court proceedings to enforce the
Insurance Code
d. The Commissioner has the authority to make necessary rules and
regulations – correct answer \u2705a. The insurance Commissioner may update
the insurance code (law) as needed
After a hearing before the Commissioner, Oscar’s insurance license was
suspended because:
a. He failed to respond to a written inquiry from the Commissioner within 30
days
b. His state income tax return was audited
c. He was subpoenaed to appear before the insurance commissioner of
another state
d. He was a accused of committing a misdemeanor – correct answer \u2705a. He
failed to respond to a written inquiry from the Commissioner within 30 days<\/p>\n\n\n\n

Arkansas State Law Insurance Licensing – Chapter 15:
Exam Q&A (with Verified Answers) 2023
According to Arkansas law, a resident insurance agent in the state of
Arkansas:
a. Must maintain client records for at least 1 year
b. Must be at least 20 years old
c. Must have a place of business in Arkansas
d. Must notify the Commissioner of a change of address within 30 days –
correct answer \u2705c. Must have a place of business in Arkansas
The sale of surplus lines insurance is:
a. Done through surplus lines brokers working with eligible nonadmitted
insurers
b. Another name for insurance sold through unauthorized insurers<\/p>\n\n\n\n

Arkansas State Law Insurance Licensing – Chapter 15:
Exam Q&A (with Verified Answers) 2023
c. Allowed when insurance is cheaper through a non-admitted carrier
d. Done through any agent with a property and casualty license – correct
answer \u2705b. Another name for insurance sold through unauthorized insurers
What is the maximum financial penalty the Commissioner may impose upon
a licensee who knowingly engages in unfair trade practice violations within a
6-month period?
a. $5,000
b. $10,000
c. $1,000
d. $50,000 – correct answer \u2705d. $50,000<\/p>\n\n\n\n

ARKANSAS HEALTH INSURANCE EXAM Questions and
Answers (2023) (Verified Answers)
For a contract to be valid, it must: – correct answer \u2705Contain an offer &
acceptance.
When does a nondisabled person first qualify for a Medicare Supplement
Policy? – correct answer \u2705Age 65.
A life insurance company has transferred some of its risk to another insurer.
The insurer assuming the risk is called the: – correct answer \u2705Reinsurer.
A common exclusion with vision plans is: – correct answer \u2705Lasik Surgery
What are applicants\u2019 statements concerning occupation, hobbies and
personal health history? – correct answer \u2705Representation.
States that have “no loss, no gain” laws require a replacing policy to: –
correct answer \u2705Pay for ongoing claims under the policy it replaces.
A rehabilitation benefit is intended to: – correct answer \u2705Prepare the
insured to return to employment.<\/p>\n\n\n\n

ARKANSAS HEALTH INSURANCE EXAM Questions and
Answers (2023) (Verified Answers)
Which of the following does coordination of benefits allows? – correct
answer \u2705The secondary payor to reduce their benefit payments so no more
than 100% of the claim is paid.
An insurer may pay a commission in which of the following scenarios: –
correct answer \u2705To a licensed producer who is appointed with the insurer.
In which of the following situations would the insurer be liable for a loss? –
correct answer \u2705The insured suffered an injury during a bank robbery.
The Fair Credit and Reporting Act’s main purpose is to: – correct answer
\u2705Protect consumers with guidelines regarding credit reporting and
distribution.
J is a producer who has induced an insured through misrepresentation to
surrender an existing insurance policy. What is J guilty of? – correct answer
\u2705Twisting.<\/p>\n\n\n\n

ARKANSAS HEALTH INSURANCE EXAM Questions and
Answers (2023) (Verified Answers)
What is implied authority defined as? – correct answer \u2705Authority 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 \u2705Preferred.
Which of the following is the period when the accumulated value in an
annuity is paid out? – correct answer \u2705Annuitization phase.
Insurers claim settlement practices are regulated by the: – correct answer
\u2705State insurance departments.
The two major actions required for a policyholder to comply with the
Reinstatement Clause are: – correct answer \u2705provide evidence of
insurability, pay past due premiums.
An insurer\u2019s ability to make unpredictable payouts to policy owners is called:<\/p>\n\n\n\n