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  2. Arkansas
  3. Life, Accident & Health
  4. Life Policy Provisions Options and Riders

Free Life Policy Provisions Options and Riders Practice Questions

Arkansas Life, Accident & Health exam — 52 practice questions.

Subtopics: Automatic premium loan, Interest only option, Fixed period option, Life income option, Absolute assignment, Spendthrift clause, Accelerated death benefit, Common disaster, Childrens term rider, Return of premium rider, Payor benefit rider, Convertible term, Standard provisions, Assignment, Beneficiaries, Beneficiary clauses, Settlement options, Nonforfeiture options, Policy loans, Dividend options, Riders, Grace period, Reinstatement, Incontestable clause, Suicide clause, Misstatement of age, Primary beneficiary, Irrevocable beneficiary, Minor beneficiary, Per capita, Estate as beneficiary, Dividend option cash, Dividend option reduce premium, Dividend option accumulate at interest, Dividend option one-year term, Joint and survivor settlement, Guaranteed insurability rider, Cost of living rider, Child term rider

Read the Life Policy Provisions Options and Riders study guide

Sample questions & answers

1. The automatic premium loan provision prevents a whole life policy from lapsing by:

Using available cash value to pay an overdue premium

The automatic premium loan uses available cash value to pay an overdue premium and keep the policy in force.

2. Under the interest-only settlement option, the insurer:

Holds the death proceeds and pays interest to the beneficiary

The interest-only option leaves the proceeds with the insurer and pays the beneficiary the interest earned.

3. The fixed-period settlement option pays the beneficiary:

Equal installments over a chosen number of years until the proceeds and interest are exhausted

The fixed-period option pays equal installments over a set number of years until the proceeds plus interest are used up.

4. The life income settlement option provides the beneficiary with:

Guaranteed income for the rest of the beneficiary's life

The life income option pays the beneficiary an income guaranteed for the rest of their life.

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Practice: Life Policy Provisions Options and Riders

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.