ARKANSAS HEALTH INSURANCE EXAM (2
DIFFERENT VERSIONS) | ALL QUESTIONS
AND CORRECT ANSWERS | GRADED A+ |
VERIFIED ANSWERS
ARKANSAS HEALTH INSURANCE EXAM (FIRST EXAM)
Tom has a rider on his disability income policy that guarantees the right to
increase his benefits without a medical exam. What kind of rider is this?
,Which provision states that a group accident and health policy must provide
a continuation of benefits for an individual insured if the policy is terminated
or replaced?
Continuation of Coverage
Conversion Privilege
Continuation Privilege
Continuation of Benefits ------CORRECT ANSWER---------------Continuation
of Benefits
The Arkansas Insurance Department may take each of the following
actions EXCEPT:
Issue Cease and Desist Order
Impose fines
Revoke licenses
Incarceration ------CORRECT ANSWER---------------Incarnation
Bill the producer is collecting the initial premium on a health policy. Which
of the following statements is true?
The contract is not in force without the initial premium being paid
A partial initial premium is acceptable
The insured has no advantage to pay the initial premium at the time of
application
A claim must be honored by the insurer even if an initial premium is not
paid ------CORRECT ANSWER---------------The contract is not in force
without the initial premium being paid
In contrast to a guaranteed renewable policy, a noncancellable policy
may cancel the policy only at renewal
may raise premiums at policy renewal
,may raise premiums at anytime
may never raise premiums ------CORRECT ANSWER---------------may never
raise premiums
An insurance producer MUST notify the Commissioner of a change in legal
name, email, or address:
within 10 days of the change
within 30 days of the change
within 6 weeks of the change
before renewal of the license ------CORRECT ANSWER---------------Within
30 days of the change
One or more necessary or appropriate diagnostic, preventive, therapeutic,
rehabilitative, maintenance, or personal care services in a setting other
than an acute care unit of a hospital is provided by:
long-term care insurance
critical care insurance
chronic care insurance
excess care insurance ------CORRECT ANSWER---------------Long-term
care insurance
If an agent knows or suspects a fraudulent transaction, they MUST report it
to the Commissioner within:
10 days
20 days
30 days
45 days ------CORRECT ANSWER---------------30 days
, Anyone who willfully violates a cease and desist order from the
Commissioner is subject to a fine of up to:
$100 per violation
$500 per violation
$1,000 per violation
$10,000 per violation ------CORRECT ANSWER---------------$1000 per
violation
Any person who knows or suspects that an insurance transaction or life
settlement may be fraudulent has a duty to report it to the Commissioner
within:
10 days
15 days
30 days
45 days ------CORRECT ANSWER---------------30 days
An insurer may pay a commission in which of the following scenarios?
To a licensed non-appointed producer who has sold, solicited, or
negotiated a policy of insurance on behalf of the insurer
To an unlicensed person who has sold, solicited, or negotiated a policy of
insurance on behalf of the insurer
To a licensed producer who is appointed with the insurer
When a policy is canceled back to inception ------CORRECT ANSWER------
---------To a licensed non-appointed producer who has sold, solicited, or
negotiated a policy of insurance on behalf of the insurer
A policy that provides coverage for a dependent child of an employee or
other member of the covered group MUST provide coverage up to a
limiting age of
26 years old
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