Exam (elaborations)
ARKANSAS HEALTH INSURANCE FINAL EXAM XCEL STUDY QUESTIONS AND ANSWERS
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ARKANSAS HEALTH INSURANCE FINAL EXAM XCEL STUDY QUESTIONS AND ANSWERS
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These are considered to be common life insurance nonforfeiture options
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Cash surrender; extended term insurance; & reduced paid-up insurance
A life insurance company has transferred some of its risk to another insured. The
insured assuming the risk is called the
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Reinsurer
Which of these factors would an insurer consider when determining whether to
except a group life plan
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Average age
Which market index is normally associated with an indexed annuity's rate of return
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S & P 500
Kurt is an active duty service man who was recently killed in an accident while home
on leave. Which military service exclusion clause would pay upon his death
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Results
Which type of policy combines the flexibility of a universal life policy with investment
choices?
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Variable universal life policy
The automatic premium loan provision authorizes an insurer to withdraw from the
policy's cash value the amount of
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Past due premiums that have not been paid by the end of the grace period
Which type of beneficiary should be named if the insured wants to give explicit
directions on how the policy proceeds should be paid
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Individual
The renewal period for a producers license is a
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Two year term
Arkansas' 10-day free-look period for life insurance policies begins at the
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Date of delivery
Which factors are taken into account when determining an applicants life insurance
needs
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Social Security; savings; pension
When a qualified plan starts making payments to its recipient, which portion of the
distributions is taxable?
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Gains
What policy feature makes a universal life policy different from a whole life policy
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A flexible premium schedule
Arkansas law requires that an insurer must notify the commissioner of a producer
appointment termination
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