Exam (elaborations)
ARKANSAS HEALTH INSURANCE STUDY GUIDE QUESTIONS AND ANSWERS
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ARKANSAS HEALTH INSURANCE STUDY GUIDE QUESTIONS AND ANSWERS
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1-55 of 55When a producer was reviewing a potential customer's coverage written by another
company, the producer made several remarks that were maliciously critical of that
other insurer. The producer could be found guilty
ofa)Misrepresentation.b)Discrimination.c)Nothing, unless the remarks were in
writingd)Defamation.
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Defamation.
,An insured has endured multiple surgeries and hospitalizations for an illness during
the last few months. Her insurer no longer bills her for medical expenses. Which of the
following allows for that? (Choose from the following options)1. Stop-loss limit2.
Grace period3. Waiver of premium4. Maximum loss
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Stop-loss limit
Which of the following is true regarding elimination periods and the cost of
coverage?
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The longer the elimination period, the lower the cost of coverage
Aleatory
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A contract in which participating parties exchange unequal amounts.
Insurance contracts are aleatory in that the amount the insured will pay in
premiums is unequal to the amount the insurer will pay in the event of a
loss.
Workers Compensation benefits are regulated by which entity?
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, State government
The Federal Fair Credit Reporting Act
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Regulates consumer reports
6.An insured who has an Accidental Death and Dismemberment policy loses her left
arm in an accident. What type of benefit will she most likely receive from this policy?
(Choose from the following options)1. The principal amount in a lump sum2. The
capital amount in monthly installments3. The principal amount in monthly
installments4. The capital amount in a lump sum
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The capital amount in a lump sum
notice of claim
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A provision that spells out an insured's duty to provide the insurer with
reasonable notice in the event of a loss.
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