Exam (elaborations)
ARKANSAS HEALTH INSURANCE STUDY QUESTIONS AND ANSWERS
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ARKANSAS HEALTH INSURANCE STUDY QUESTIONS AND ANSWERS
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1-86 of 86Anyone who makes a fraudulent statement on an insurance application in order to
obtain money benefits from an insurance company has committed the act of
twisting malfeasance coercion misrepresentation
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Making a fraudulent statement on an insurance application would be
considered an act of misrepresentation.
,Which of the following statements is true about most Blue Cross/Blue Shield
organizations? They are the same as private insurance companies They are federally
sponsored *They are nonprofit organizations
*They are owned by hospitals and physicians
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They are nonprofit organizations. Most BC/BS organizations are
considered nonprofit.
An insurance applicant MUST be informed of an investigation regarding his/her
reputation and character according to the
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Fair Credit Reporting Act
The stated amount or percent of liquid assets that an insurer must have on hand that
will satisfy future obligations to its policyholders is called
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Reserves
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
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Authorizes the insurance company to transact business in Arkansas. A
certificate of authority authorizes the insurance company to transact
business in Arkansas.
Which of the following BEST describes how a Preferred Provider Organization (PPO)
is less restrictive than a Health Maintenance Organization (HMO)? Typically not
subject to deductibles Not regulated by the federal government More benefits
available More physicians to choose from
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PPO's normally provide a wider choice of physicians and hospitals.
Under the Unfair Trade Practice law, agents may be found guilty of defamation if they
make a false statement that is intended to malign another insurance company
mislead a prospect about a policy's term of coverage misrepresent the benefits
payable under a policy defraud an insured or a claimant
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Agents making a false statements intended to malign another insurance
company may be found guilty of defamation.
Which of the following statements about the classification of applicants is
INCORRECT?
Substandard applicants are never declined by underwriters Substandard applicants
are occasionally declined by underwriters Preferred risk applicants typically have
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