Exam (elaborations)
ARKANSAS LIFE & HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS
- Course
- Institution
ARKANSAS LIFE & HEALTH INSURANCE EXAM QUESTIONS AND ANSWERS
[Show more]
Content preview
1-208 of 208A written contract where one party promises to indemnify another against loss from
an unknown event.
Give this one a try later!
Policy
,-A.M Best
-Fitch Ratings
-Standards and Poor's
-moodys
Give this one a try later!
Rating service company
Gives chief financial officers the power to investigate insurances companies and
producers, to issue cease and desist orders, and impose penalties.
Give this one a try later!
unfair trade practice acts
Group insurance plan issued to an employer, where both the employer and employee
contribute to the cost of the plan.
Give this one a try later!
Contributory
Previous coverage under another insurance plan where there has not been a break in
coverage for 63 days.
-an individuals waiting period for pre-existing conditions is reduced or eliminated
altogether when shows proof.
,Give this one a try later!
Creditable Coverage
Pays the stated sum regardless of the actual loss that occured.
Give this one a try later!
Valued Contract
A contract that can be made void a the option of one or more parties to the
agreement.
(Ex. If the insured stops paying the premium, the contract is then voidable. The
insurance company has the right to cancel the contract and revoke the coverage.)
Give this one a try later!
Voidable Contract
A piece of paper which provides basic information about an insurance policy.
Typically the first page is the declaration page. Specifies name of insured, address,
policy period, location of property, policy limits, and other key information.
Give this one a try later!
Declaration Page
, a written statement describing the features and elements of the policy being issued.
Includes conditions, coverage, limitations, and premiums.
Give this one a try later!
Policy Summary
The PRIMARY purpose is to determine the financial strength of the company being
rated.
Give this one a try later!
Rating Service
Covers unusual hazards normally not covered under ordinary accident and health
insurance.
Give this one a try later!
Special risk policy
An illness or medical condition that existed before a policy's effective date; usually
excluded from coverage through the policy standard provisions or by waiver.
Give this one a try later!
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller selftest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80189 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now