ARKANSAS HEALTH INSURANCE EXAM NEWEST ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS | GRADED A+ | LATEST 2024/2025
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Course
ARKANSAS HEALTH INSURANCE
Institution
ARKANSAS HEALTH INSURANCE
ARKANSAS HEALTH INSURANCE EXAM
NEWEST ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED
ANSWERS | GRADED A+ | LATEST 2024/2025
When can the Commissioner or Director examine insurers? - ANSWER-Whenever
deemed necessary, but at least once every few years
If an insurer meets the state's ...
ARKANSAS HEALTH INSURANCE EXAM
NEWEST ACTUAL EXAM COMPLETE
QUESTIONS AND CORRECT DETAILED
ANSWERS | GRADED A+ | LATEST 2024/2025
When can the Commissioner or Director examine insurers? - ANSWER-Whenever
deemed necessary, but at least once every few years
If an insurer meets the state's financial requirements and is approved to transact
business in the state, it is considered what type of insurer? - ANSWER-Authorized
or admitted
When is controlled business legal? - ANSWER-When the commissions from
controlled business do not exceed the aggregate commissions on all the other
business (specific limits may vary from state to state)
In general, who can be excluded from producer licensing and examination
requirements? - ANSWER-Insurance company officers, directors, or any other
employees who do not transact insurance and who do not receive commissions for
their services
Who is an insurance agent? - ANSWER-A person authorized to sell, solicit and
negotiate insurance contracts
Who must be a member of insurance guaranty associations? - ANSWER-All
insurers authorized to write insurance within a state
,What is the purpose of insurance guaranty associations? - ANSWER-To protect
policyowners, insureds and beneficiaries from financial losses caused by insolvent
insurers
What document is required for an insurance company to transact insurance? -
ANSWER-Certificate of Authority
An agent offers a client free tickets to a sporting event in exchange for the
purchase of an insurance policy. What is the agent guilty of? - ANSWER-Rebating
Who is responsible for the contents of insurance advertisements? - ANSWER-The
insurance company
Individuals who are in the same risk and age class are charged different rates for
their insurance policies due to an insignificant factor. What is this called? -
ANSWER-Discrimination
What are the most common penalties for violations of insurance statutes? -
ANSWER-A cease and desist order, a fine, and license suspension or
revocationWhen can the Commissioner or Director examine insurers? - ANSWER-
Whenever deemed necessary, but at least once every few years
If an insurer meets the state's financial requirements and is approved to transact
business in the state, it is considered what type of insurer? - ANSWER-Authorized
or admitted
When is controlled business legal? - ANSWER-When the commissions from
controlled business do not exceed the aggregate commissions on all the other
business (specific limits may vary from state to state)
, In general, who can be excluded from producer licensing and examination
requirements? - ANSWER-Insurance company officers, directors, or any other
employees who do not transact insurance and who do not receive commissions for
their services
Who is an insurance agent? - ANSWER-A person authorized to sell, solicit and
negotiate insurance contracts
Who must be a member of insurance guaranty associations? - ANSWER-All
insurers authorized to write insurance within a state
What is the purpose of insurance guaranty associations? - ANSWER-To protect
policyowners, insureds and beneficiaries from financial losses caused by insolvent
insurers
What document is required for an insurance company to transact insurance? -
ANSWER-Certificate of Authority
An agent offers a client free tickets to a sporting event in exchange for the
purchase of an insurance policy. What is the agent guilty of? - ANSWER-Rebating
Who is responsible for the contents of insurance advertisements? - ANSWER-The
insurance company
Individuals who are in the same risk and age class are charged different rates for
their insurance policies due to an insignificant factor. What is this called? -
ANSWER-Discrimination
What are the most common penalties for violations of insurance statutes? -
ANSWER-A cease and desist order, a fine, and license suspension or revocationIf
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