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Life and Health Insurance Producer Exam

Annuities (AR): practice questions

Our Life & Health Insurance bank has 3 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Arkansas

When recommending an annuity exchange or replacement, the producer must consider whether the consumer has had another exchange or replacement within what period?

  1. The preceding 60 months
  2. The preceding 15 years
  3. The current calendar year
  4. The preceding 6 months
Show the answer

A. The preceding 60 months — AID Rule 82, Sec. 6(A)(1)(j)(iii).

Question 2 · Arkansas

What one-time training must an Arkansas producer complete before selling annuities?

  1. Product training from each insurer, with no state-approved course required
  2. A two-hour ethics course repeated at every license renewal
  3. A 40-hour securities course followed by a FINRA examination
  4. A Department-approved annuity course of at least four credit hours
Show the answer

D. A Department-approved annuity course of at least four credit hours — AID Rule 82, Sec. 7(B)(1)-(2).

Question 3 · Arkansas

Under Arkansas's best-interest annuity rule, which statement about the producer's care obligation is correct?

  1. It requires ongoing monitoring of every annuity for its whole life
  2. It requires a securities license to recommend even fixed annuities
  3. It creates a regulatory obligation, not a fiduciary relationship
  4. It requires recommending the annuity with the lowest commission available
Show the answer

C. It creates a regulatory obligation, not a fiduciary relationship — AID Rule 82, Sec. 6(A)(1)(d), (h), (i), (k).

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