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Arkansas Health Insurance Study Questions NEWEST 2024 WITH COMPLETE QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED ANSWERS) ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS!!! A certificate of authority does which of the following? *Authorizes the ins$17.99
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Arkansas Health Insurance Study Questions NEWEST 2024 WITH COMPLETE QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED ANSWERS) ALREADY GRADED A+ 100% GUARANTEED TO PASS CONCEPTS!!! A certificate of authority does which of the following? *Authorizes the ins
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Course
Arkansas adjuster license
Institution
Arkansas Adjuster License
Arkansas Health Insurance Study Questions NEWEST 2024 WITH
COMPLETE QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED
ANSWERS) ALREADY GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS!!!
A certificate of authority does which of the following?
*Authorizes the insurance company to transact business in ...
Arkansas Health Insurance Study Questions NEWEST 2024 WITH
COMPLETE QUESTIONS AND CORRECT VERIFIED ANSWERS (DETAILED
ANSWERS) ALREADY GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS!!!
A certificate of authority does which of the following?
*Authorizes the insurance company to transact business in AR *Gives the commissioner
the authority to make insurance laws in AR *Authorizes the agent to sell insurance
*Authorizes the customer to complete a free medical exam - ✔✔ANSW✔✔..Authorizes
the insurance company to transact business in Arkansas. A certificate of authority
authorizes the insurance company to transact business in Arkansas.
A creditor who requires a debtor to obtain insurance from a particular company or agent
as a condition for a loan is guilty of *coercion *fraud *rebating *boycotting -
✔✔ANSW✔✔..A creditor who requires a debtor to obtain insurance from a particular
company or agent as a condition of the loan is guilty of coercion.
A Disability Income policy owner recently submitted a claim for a chronic neck problem
that has now resulted in total disability. The original injury occurred before the
application was taken 5 years prior. The neck injury was never disclosed to the insurer
at the time of application. How will the insurer handle this claim? *Claim will be paid and
coverage will remain in force *Claim will be denied and coverage will remain in force
*Claim will be denied and coverage will be cancelled * Claim will be denied, the
coverage cancelled and all premiums paid will be refunded - ✔✔ANSW✔✔..Claim will
be paid and coverage will remain in force. After a policy has been in force for 2
(sometimes 3) years, it enters the incontestable period, in which the insurer may not
deny a claim based on information not disclosed at the time of application.
A foreign company operating in Arkansas is a company incorporated or organized under
the laws of *Arkansas *Florida *Canada *Europe - ✔✔ANSW✔✔..Florida. Foreign
insurance company is a company whose home office is located in another state.
Therefore, a company chartered in Florida would be a foreign company in Arkansas.
A medical care provider which typically delivers health services at its own local medical
facility is know as a
, *Health Maintenance Organization * Regional Provider *Multiple Employer Trust
*Preferred Provider Organization - ✔✔ANSW✔✔..Health Maintenance Organization.
HMO's traditionally provide services to its members at its own local health care facilities.
A prepaid application for individual Disability Income insurance was recently submitted
to an insurer. When the insurer received the Medical Information Bureau (MIB) report,
the report showed that the applicant had suffered a stroke 18 months ago, some that
was not disclosed on the application. Which of the following actions would the insurance
company NOT take?
*Send the initial premium back to the applicant
*Send a notice to the applicant that the coverage is declined *Send a notice to the MIB
that the applicant was declined *Send a notice to the agent that the applicant was
declined. - ✔✔ANSW✔✔..The insurance company would NOT send a notice to the MIB
that the applicant was decline. The MIB does not need to be notified that the coverage
was declined.
A stock insurance company is BEST defined as an incorporated company that has its
capital divided into shares and *specializes in selling insurance to stockholders *has its
governing body elected by its policyholders *is owned exclusively by its policyholders
*is owned exclusively by its shareholders - ✔✔ANSW✔✔..Owned exclusively by its
shareholders. A stock insurance company is best defined as an incorporated company
that has its capital divided into shares and is owned exclusively by its shareholders.
A stock insurance company is owned by its *directors *stockholders *agents *insureds -
✔✔ANSW✔✔..A stock insurance company is owned by its stockholders.
All of the following are requirements to become an insurance producer in the state of
AR except:
*Be at least 18 years of age *Completed a Prelicensing course *Passed the state exam
for the line of authority sought *Graduate High School - ✔✔ANSW✔✔..All of these are
requirements to become an insurance producer in the state of AR except graduate high
school.
An agent takes an individual Disability Income application, collects the appropriate
premium, and issues the prospective insured a conditional receipt. The next step the
insurance company will take is to
*issue the policy only when the initial premium check has cleared * determine if the
applicant is insurable by investigating family health history *issue the policy on a
standard basis * determine if the applicant is an acceptable risk by completing standard
underwriting procedures - ✔✔ANSW✔✔..With a conditional receipt, the insurance
company will complete standard underwriting procedures before making a decision
about whether to insure the applicant.
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