semplr.

Exams · Certifications · Licensing

Life and Health Insurance Producer Exam

Policy provisions (AR): practice questions

Our Life & Health Insurance bank has 11 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · Arkansas

Under Arkansas's required accident and health provisions, what minimum grace period applies to a policy with monthly premiums?

  1. 7 days
  2. One month
  3. 45 calendar days
  4. 10 days
Show the answer

D. 10 days — Ark. Code Ann. 23-85-108(a).

Question 2 · Arkansas

Under the required 'Legal Actions' provision, when may an insured sue to recover on an Arkansas individual health policy?

  1. Only within 30 days after the insurer denies the claim
  2. Only after binding arbitration, and never later than one year
  3. From 60 days after proof of loss until three years after proof is required
  4. Any time, with no limit on when suit may be filed
Show the answer

C. From 60 days after proof of loss until three years after proof is required — Ark. Code Ann. 23-85-116.

Question 3 · Arkansas

What is the effect of a policy provision that waives the insured's or beneficiary's right to a jury trial on questions of fact?

  1. It is valid after two years in force
  2. It is void and of no effect
  3. It binds the insured
  4. It is valid if printed in bold type
Show the answer

B. It is void and of no effect — Ark. Code Ann. 23-79-203.

Question 4 · Arkansas

Under the required 'Notice of Claim' provision, within how many days after a covered loss begins should written notice be given?

  1. 60 days, or the claim is permanently barred
  2. One year from the date the policy was issued
  3. 20 days, or as soon as reasonably possible
  4. 5 days, with no exceptions for any reason
Show the answer

C. 20 days, or as soon as reasonably possible — Ark. Code Ann. 23-85-110(a).

Question 5 · Arkansas

Within what period after issue may an Arkansas life policy exclude death by suicide, sane or insane?

  1. Two years from issue, or from a face increase as to the added amount
  2. Five years from issue, on the whole face amount
  3. Never; suicide cannot be excluded in Arkansas
  4. One year from issue, with no separate period for increases
Show the answer

A. Two years from issue, or from a face increase as to the added amount — Ark. Code Ann. 23-81-115(a)(2)(E).

More Life & Health Insurance topics