Exam (elaborations)
ARKANSAS HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS
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ARKANSAS HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS
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1-214 of 214All insurers must be members of what organization, as a condition of their authority to
transact insurance in Arkansas?
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Arkansas Life and Disability Insurance Guaranty Association
An example of rebating would be:
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returning a portion of a premium as inducement to purchase insurance
Which of the following is present when an applicant stands to lose value if the insured
dies?
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Insurable interest
Richard owns an insurance policy that is renewable only at the option of the insurance
company. His policy is considered to be:
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Optionally renewable
Frank is shopping for a disability income policy. Which of the following would have the
HIGHEST premium?
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14 day waiting period / 10 year benefit period
An indemnity plan:
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provides the insured a specific dollar amount for services
Credit Accident and Health Plans are designed to:
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Help pay off existing loans during periods of disability
An employee under a group insurance policy has the right to name a beneficiary and
the right to:
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Convert to an individual policy in the event of employment termination
Claims payable to a Disability Income insured, even when the insured can continue to
work, are the result of a:
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Presumptive disability
In group health care, what is the purpose of the coordination of benefits provision?
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Determines what is paid by the primary & secondary insurers in the event
of a claim
The term which describes the fact that both parties of a contract may NOT receive the
same value is referred to as:
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Aleatory
According to the life insurance contract law, insurable interest exists
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At the time of the application
Medicare Part A covers
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Inpatient hospital stay
An HMO that involves a partnership of physicians and other providers who practice
out of a central facility is called a(n)
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