Chapter Exam - Arkansas Laws and
Rules
Greg had recently been terminated from his job that covered him for group life
insurance. How long does he have to convert his coverage to an individual policy
without needing to prove insurability? - answer31 days
All insurers must be members of what organization, as a condition of their authority to
transact insurance in Arkansas - answerArkansas life and disability insurance guaranty
association
A producer who sells insurance in Arkansas but resides in another state is called a(n) -
answernonresident producer
According to Arkansas Law, commissions may be paid to: - answerLicensed and duly
appointed producers
Lapsed individual life insurance may be reinstated within? - answer3 years
The beneficiary of any life insurance policy or annuity contract is protected from the ___
of the insured - answercreditors
During hearing proceedings, if a person files a waiver of immunity or privilege, and the
testimony is produced before court or jury, the person loses their ___ - answerimmunity
An insurance producer must notify the Commissioner within how many days of
conviction of a crime - answerthirty (30)
Anyone who willfully violates a cease and desist order from the Commissioner is subject
to a fine of up to - answer$1,000
which of the following constitutes grounds for suspending an Arkansas producer's
license - answerFelony conviction
which is the best way to describe controlled business - answerPolicies written on people
that a producer has influences over
Maria the insurance producer completes a sale by collecting the required signatures on
the applications and obtaining the initial premium. Afterwards, she deposits the checks
into her personal checking account. Maria has committed what crime? - answerfraud
