Exam (elaborations)
Arkansas insurance exam Questions and Answers 2024
- Course
- Institution
Arkansas insurance exam
[Show more]
Content preview
Arkansas insurance examwhat is the purpose of settlement options? - answer They determine how death
proceeds will be paid
which of the following determines the cash value of a variable life policy? - answer The
performance of the policy portfolio
An insured owns a life insurance policy. To be able to pay some of her medical bills, she
withdraws a portion of the policy's cash value. There is a limit for a withdrawal and the
insurer charges a fee. What type of policy does the insured most likely have? - answer
Universal Life
which of the following is the basic source of information used by the company in the risk
selection process? - answer application
which of the following is INCORRECT regarding a $100,000 20 - year level term policy?
- answerAt the end of 20 years, the policy's cash value will equal $100,000.
when a whole life policy lapses or is surrendered prior to maturity, the cash value can
be used to? - answerPurchase a single premium policy for a reduced face amount
In forming an insurance contract, when does acceptance usually occur? - answerWhen
an insurer's underwriter approves coverage
A rider attached to a life insurance policy that provides coverage on the insured's family
members is called the? - answerOther-insured rider
A policy will pay the death benefit if the insured dies during the 20-year premium-paying
period, and nothing if death occurs after the 20-year period. What type of policy is this?
- answerLevel term
all of the following are divided options EXCEPT? - answerfixed - period installments
which of the following is NOT an essential element of an insurance contract? -
answercounteroffer
what describes the specific information about a policy? - answerPolicy summary
all of the following would be different between qualified and nonqualified retirement
plans EXCEPT? - answerTaxation on accumulation
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 julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now