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Examination Content Outlines

VIEWS: 3 PAGES: 12

									              ARKANSAS                                                Examination Content Outlines
        Insurance Supplement                                                               Effective: March 1, 2011


*Please note: The Arkansas Insurance Department no longer provides an examination for Fixed
Annuity or Mobile Home.

                     LIFE                                                                        7. Long term care
                                                                                                 8. Return of premium
              GENERAL KNOWLEDGE                                                               B. Policy provisions and options
                      CONTENT OUTLINE                                                            1. Entire contract
      Product Knowledge, Terms, and Concepts
                                                                                                 2. Insuring clause
       (50 scoreable questions plus 10 pretest questions)
                                                                                                 3. Free look
I. TYPES OF POLICIES ......................................................... 12                4. Consideration
    A. Traditional whole life products                                                           5. Owner’s rights
        1. Ordinary (straight) life                                                              6. Beneficiary designations
        2. Limited-pay and single-premium life                                                      a. Primary and contingent
        3. Adjustable life                                                                          b. Revocable and irrevocable
    B. Interest/market-sensitive life products                                                      c. Changes
        1. Universal life                                                                           d. Common disaster
        2. Variable whole life                                                                      e. Minor beneficiaries
        3. Variable universal life                                                               7. Premium Payment
        4. Interest-sensitive whole life                                                            a. Modes
        5. Equity-indexed life                                                                      b. Grace period
    C. Term life                                                                                    c. Automatic premium loan
        1. Types                                                                                    d. Level or flexible
           a. Level                                                                              8. Reinstatement
           b. Decreasing                                                                         9. Policy loans, withdrawals, partial surrenders
           c. Return of premium                                                                 10. Non-forfeiture options
           d. Annually renewable                                                                11. Dividends and dividend options
           e. Increasing term                                                                   12. Incontestability
        2. Special features                                                                     13. Assignments
           a. Renewable                                                                         14. Suicide
           b. Convertible                                                                       15. Misstatement of age and gender
    D. Annuities                                                                                16. Settlement options
        1. Single and flexible premium                                                          17. Accelerated death benefits
        2. Immediate and deferred                                                             C. Policy exclusions
        3. Fixed and variable
        4. Indexed                                                                         III. COMPLETING THE APPLICATION, UNDERWRITING,
                                                                                                AND DELIVERING THE POLICY ..................................11
    E. Combination plans and variations
                                                                                                A. Completing the application
        1. Joint life
                                                                                                   1. Required signatures
        2. Survivorship life (second to die)
                                                                                                   2. Changes in the application
II. POLICY RIDERS, PROVISIONS, OPTIONS, AND                                                        3. Consequences of incomplete applications
    EXCLUSIONS.................................................................. 19                4. Warranties and representations
    A. Policy riders                                                                               5. Collecting the initial premium and issuing the
       1. Waiver of premium and waiver of premium with                                                receipt
          disability income                                                                        6. Replacement
       2. Guaranteed insurability                                                                  7. Disclosures at point of sale (e.g., HIPAA, HIV
       3. Payor benefit                                                                               consent)
       4. Accidental death and/or accidental death and                                             8. USA PATRIOT Act/anti-money laundering
          dismemberment                                                                         B. Underwriting
       5. Term riders                                                                              1. Insurable interest
       6. Other insureds (e.g., spouse, children, nonfamily )

        ARKANSAS Insurance Supplement - Examination Content Outlines                                                      Effective: March 1, 2011

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        2. Medical information and consumer reports                                                   Ref: 23-64-102, 202, 203, 210, 214- 218, 220, 223,
        3. Fair Credit Reporting Act                                                                  301, 302-305; 23-66-209
        4. Risk classification                                                                        1. Persons required to be licensed
        5. Stranger-originated life insurance (STOLI)                                                     a. Producer
        6. Investor-originated life insurance (IOLI)                                                      b. Consultant
     C. Delivering the policy                                                                             c. Resident/Nonresident
        1. When coverage begins                                                                           d. Temporary license
        2. Explaining the policy and its provisions, riders,                                          2. Producer appointment/termination of
           exclusions, and ratings to the client                                                          contract
                                                                                                      3. Exemptions/exceptions
IV. TAXES, RETIREMENT, AND OTHER INSURANCE
                                                                                                      4. Maintaining a license
   CONCEPTS ....................................................................... 8
    A. Third-party ownership                                                                              a. Continuing education
                                                                                                          b. Change of address
    B. Group life insurance
                                                                                                          c. Administrative Fees
       1. Conversion privilege
       2. Contributory vs. noncontributory                                                            5. Renewal, suspension or revocation of
                                                                                                          license
    C. Retirement plans
                                                                                                   D. Producer responsibilities
       1. Tax-qualified plans
       2. Nonqualified plans                                                                          Ref: 23-64-223, 224, 23-65-101
                                                                                                      1. Fiduciary capacity
    D. Life insurance needs analysis/suitability
                                                                                                      2. Commissions
       1. Personal insurance needs
       2. Business insurance needs                                                                    3. Fraud Reporting
                                                                                                   E. Life and Health Insurance Guaranty
          a. Key person
                                                                                                      Association Act
    E. Social Security benefits and taxes
    F. Tax treatment of insurance premiums, proceeds,                                                 Ref: 23-96-101, 102, 104, 106, 111, 112
                                                                                                   F. Marketing practices
       and dividends
                                                                                                      Ref: 23-66-206, 210, 211, 306; Rule and Reg. 43:7-9
       1. Individual life
       2. Group life                                                                                  1. Unfair claims practices
                                                                                                      2. Unfair methods of competition
       3. Modified Endowment Contracts (MECs)
                                                                                                          a. Rebating
                                                                                                          b. Misrepresentation
                       LIFE                                                                               c. False advertising
                 ARKANSAS SPECIFIC                                                                        d. Defamation
                       CONTENT OUTLINE                                                                    e. False financial statements
          State Statutes, Rules and Regulations                                                           f. Boycott, coercion, intimidation
       (30 scoreable questions plus 10 pretest questions)                                                 g. Unfair discrimination
                                                                                                          h. Twisting
I.    ARKANSAS STATUTES, RULES, AND                                                                       i. Churning of business
      REGULATIONS COMMON TO LIFE AND HEALTH
                                                                                                      3. Advertising: Producer Responsibilities
      INSURANCE
      A. The Insurance Commissioner                                                          II.   ARKANSAS STATUTES, RULES, AND
         Ref: 23-60-108; 23-61-102, 103, 108, 110, 201, 202,                                       REGULATIONS PERTINENT TO LIFE INSURANCE
         301-307                                                                                   ONLY
         1. Appointment                                                                            A. LIFE INSURANCE POLICIES
         2. General duties and powers                                                                 Ref: 23-79-103, 23-79-112, 124, 131; 23-81-101-108,
         3. Examination of records                                                                    115-118; 122-125, 203; Rule and Reg. 17: 2, 4, 6, 7
         4. Hearings/notice of hearings/orders                                                        1. Definition
         5. Penalties                                                                                 2. General provisions
      B. Definitions                                                                                  3. Standard Nonforfeiture Law
         Ref: 23-60-102; 23-63-201, 202; 23-69-102; 23-                                               4. Life advertising
         74-105                                                                                    B. Group Life
         1. Authorized and unauthorized companies                                                     Ref: 23-79-118, 124; 23-83-101-121
         2. Domestic, foreign, and alien companies                                                    1. Eligible Groups
         3. Fraternals                                                                                2. Conversion rights
         4. Stock and mutual companies                                                                3. Standard/required provisions and coverage
         5. Certificate of authority                                                               C. Industrial policies
         6. Insurance transaction                                                                     Ref: 23-82-101, 102, 105, 107
      C. Licensing                                                                                 D. Credit Life insurance


         ARKANSAS Insurance Supplement - Examination Content Outlines                                                      Effective: March 1, 2011

                                                                                        S2
         Ref: 23-87-102, 103, 106, 107, 111, 114                                              10. Physical examination and autopsy
      E. Replacement                                                                          11. Legal actions
         Ref: 23-66-307; Bulletin 6-89; Bulletin 14-83                                        12. Change of beneficiary
                                                                                              13. Misstatement of age
                  HEALTH                                                                    B. Optional provisions
             GENERAL KNOWLEDGE                                                              C. Other provisions and clauses
                     CONTENT OUTLINE                                                           1. Insuring clause
      Product Knowledge, Terms, and Concepts                                                   2. Free look
      (50 scoreable questions plus 10 pretest questions)                                       3. Consideration clause
                                                                                               4. Probationary period
I. TYPES OF POLICIES ........................................................ 14
                                                                                               5. Elimination period
    A. Disability income
                                                                                               6. Waiver of premium
       1. Individual disability income policy
                                                                                               7. Exclusions
       2. Business overhead expense policy
                                                                                               8. Preexisting conditions
       3. Business disability buyout policy
                                                                                               9. Recurrent disability
       4. Group disability income policy
                                                                                              10. Coinsurance
       5. Key employee/partner policies
                                                                                              11. Deductibles
    B. Accidental death and dismemberment
                                                                                              12. Eligible expenses
    C. Medical expense insurance
                                                                                              13. Copayments
       1. Basic hospital, medical, and surgical policies
                                                                                              14. Pre-authorizations and prior approval requirements
       2. Major medical policies
                                                                                              15. Usual, reasonable, and customary (URC) charges
       3. Health Maintenance Organizations (HMOs)
                                                                                              16. Lifetime, annual, or per cause maximum benefit
       4. Preferred Provider Organizations (PPOs)
                                                                                                  limits
       5. Point of Service (POS) plans
                                                                                            D. Riders
       6. Flexible Spending Accounts (FSAs)
                                                                                               1. Impairment/exclusions
       7. Health Reimbursement Accounts (HRAs)
                                                                                               2. Guaranteed insurability
       8. High Deductible Health Plans (HDHPs) and related
                                                                                               3. Multiple indemnity (double, triple)
          Health Savings Accounts (HSAs)
                                                                                            E. Rights of renewability
       9. Stop loss
                                                                                               1. Noncancelable
    D. Medicare supplement policies
                                                                                               2. Cancelable
    E. Group insurance
                                                                                               3. Guaranteed renewable
       1. Group conversion
                                                                                               4. Conditionally renewable
       2. Differences between individual and group contracts
                                                                                               5. Optionally renewable
       3. General concepts
                                                                                               6. Period of time for renewal
       4. COBRA
       5. HIPAA                                                                         III. SOCIAL INSURANCE........................................................3
    F. Long Term Care (LTC)                                                                  A. Medicare
       1. Individual LTC contracts                                                              1. Primary, secondary payor
       2. Group/voluntary LTC contracts                                                         2. Medicare Parts A, B, C, D
   G. Limited Benefit Plans                                                                  B. Medicaid
       1. Cancer (or specified diseases) plans                                               C. Social Security benefits
       2. Critical illness plans                                                        IV. OTHER INSURANCE CONCEPTS ...................................4
       3. Worksite (employer-sponsored) plans                                               A. Total, partial, and residual disability
       4. Hospital indemnity plans                                                          B. Owner’s rights
       5. Dental                                                                            C. Dependent children benefits
       6. Vision                                                                            D. Primary and contingent beneficiaries
II. POLICY PROVISIONS, CLAUSES, AND RIDERS............ 20                                   E. Modes of premium payments (annual, semiannual,
    A. Mandatory provisions                                                                     etc.)
       1. Entire contract                                                                   F. Nonduplication and coordination of benefits (e.g.,
       2. Time limit on certain defenses (incontestable)                                        primary vs. excess)
       3. Grace period                                                                      G. Occupational vs. non-occupational
       4. Reinstatement                                                                     H. Tax treatment of premiums and proceeds of
       5. Notice of claim                                                                       insurance contracts (e.g., disability income and
       6. Claim forms                                                                           medical expenses, etc.)
       7. Proof of loss                                                                      I. Managed care
       8. Time of payment of claims                                                         J. Workers Compensation
       9. Payment of claims                                                                 K. Subrogation

        ARKANSAS Insurance Supplement - Examination Content Outlines                                                       Effective: March 1, 2011

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V. FIELD UNDERWRITING PROCEDURES ......................... 9                       d. Temporary license
   A. Completing application and obtaining necessary                           2. Producer appointment/termination of contract
       signatures                                                              3. Exemptions/exceptions
   B. Explaining sources of insurability information                           4. Maintaining a license
       (e.g., MIB Report, Fair Credit Reporting Act, etc.)                         a. Continuing education
   C. Initial premium payment and receipt and                                      b. Change of address
       consequences of the receipt (e.g., medical                                  c. Administrative Fees
       examination, etc.)                                                      5. Renewal, suspension or revocation of license
   D. Submitting application (and initial premium if                        D. Producer responsibilities
       collected) to company for underwriting                                  Ref: 23-64-223, 224; 23-65-101
   E. Ensuring delivery of policy and related documents                        1. Fiduciary capacity
       to client                                                               2. Commissions
    F. Explaining policy and its provisions, riders,                           3. Fraud Reporting
       exclusions, and ratings to clients                                   E. Life and Health Insurance Guaranty Association
   G. Replacement                                                              Act
   H. Contract law                                                             Ref: 23-96-101, 102, 104, 106, 111, 112
        1. Elements of a contract                                           F. Marketing practices
        2. Insurable interest                                                  Ref: 23-66-206, 210, 211, 306; Rule and Reg. 43: 7-9
        3. Warranties and representations                                      1. Unfair Claims practices
        4. Unique aspects of the health contract                               2. Unfair methods of competition
           a. Conditional                                                          a. Rebating
           b. Unilateral                                                           b. Misrepresentation
           c. Adhesion                                                             c. False advertising
                                                                                   d. Defamation
                 HEALTH                                                            e. False financial statements
            ARKANSAS SPECIFIC                                                      f. Controlled business
                CONTENT OUTLINE                                                    g. Boycott, coercion, intimidation
       State Statutes, Rules and Regulations                                       h. Unfair discrimination
     (30 scoreable questions plus 10 pretest questions)                            i. Twisting
                                                                                   j. Churning of business
I.   ARKANSAS STATUTES, RULES, AND                                             3. Advertising: Producer Responsibilities
     REGULATIONS COMMON TO LIFE AND HEALTH
     INSURANCE                                                        II.   ARKANSAS LAWS, RULES, AND REGULATIONS
     A. The Insurance Commissioner                                          PERTINENT TO HEALTH INSURANCE ONLY
        Ref: 23-60-108; 23-61-102, 103, 108, 110, 201, 202,                 A. Policy Provisions
        301-307                                                                Ref: 23-62-103; 23-79-119, 129, 139; 23-85-104-120,
        1. Appointment                                                         123, 126, 131, 133; 23-99-203; Rule and Reg. 18: 5, 7
        2. General duties and powers                                           Rule and Reg. 19: 7
        3. Examination of records                                              1. Policy requirements
        4. Hearings /notice of hearings/orders                                 2. Coverages
        5. Penalties                                                               a. Coverage for newborns
     B. Definitions                                                                b. Coverage for mental health services
        Ref: 23-60-102; 23-63-201, 202; 23-69-102; 23-                             c. Coverage for maternity benefits
        74-105                                                                     d. Coverage for chiropractic services
        1. Authorized and unauthorized companies                                   e. Coverage for substance abuse
        2. Domestic, foreign, and alien companies                           B. Medicare Supplement
        3. Fraternals                                                          Ref: 23-79-402-407; Rule and Reg. 18: 5;
        4. Stock and mutual companies                                          Rule and Reg. 27: 1, 6, 8, 9, 16, 17
        5. Certificate of authority                                            1. Minimum standards
        6. Insurance transaction                                               2. Provisions
     C. Licensing                                                           C. Health advertising
        Ref: 23-64-102, 202, 203, 210, 214-218, 220, 223, 301-                 Ref: Rule and Regs.11: 1, 4-8, 17
        305; 23-66-209                                                      D. Long Term Insurance Care Act
        1. Persons required to be licensed                                     Ref: Rule and Reg.18: 5
            a. Producer                                                        1. Minimum standards
            b. Consultant                                                      2. Provisions
            c. Resident/Nonresident                                         E. Group/Blanket health


      ARKANSAS Insurance Supplement - Examination Content Outlines                                  Effective: March 1, 2011

                                                                 S4
         Ref: 23-86-101-104, 106-109, 112-116                                              B. Insurable interest
         1. Standards                                                                      C. Risk
         2. Provisions                                                                         1. Pure vs. Speculative Risk
      F. Small Group coverage                                                              D. Hazard
         Ref: 23-86-202-204, 208                                                               1. Moral
         1. Small employer                                                                     2. Morale
         2. Eligible employee                                                                  3. Physical
         3. Provisions                                                                     E. Peril
      G. Health Maintenance Organizations                                                  F. Loss
         Ref: 23-76-101, 102, 109, 112, 114, 115; 23-99-203                                    1. Direct
      H. Comprehensive Health Insurance Pool Act                                               2. Indirect
         Ref: 23-79-509, 510                                                               G. Loss Valuation
      I. COBRA Health - State Continuation                                                     1. Actual cash value
                                                                                               2. Replacement cost
                 PROPERTY                                                                      3. Market value
             GENERAL KNOWLEDGE                                                                 4. Stated value
                     CONTENT OUTLINE                                                           5. Salvage value
      Product Knowledge, Terms, and Concepts                                               H. Proximate cause
      (50 scoreable questions plus 10 pretest questions)                                    I. Deductible
                                                                                           J. Indemnity
I. TYPES OF POLICIES ......................................................... 25
                                                                                           K. Limits of liability
    A. Homeowners
                                                                                           L. Coinsurance/Insurance to value
        1. HO-2
                                                                                           M. Occurrence
        2. HO-3
                                                                                           N. Cancellation
        3. HO-4
                                                                                           O. Nonrenewal
        4. HO-5
                                                                                           P. Vacancy and unoccupancy
        5. HO-6
                                                                                           Q. Liability
        6. HO-8
                                                                                               1. Absolute
    B. Dwelling policies
                                                                                               2. Strict
        1. DP-1
                                                                                               3. Vicarious
        2. DP-2
                                                                                           R. Negligence
        3. DP-3
                                                                                           S. Binder
    C. Commercial lines
                                                                                           T. Endorsements
        1. Commercial Package Policy (CPP)
                                                                                           U. Medical Payments
        2. Commercial property
                                                                                           V. Blanket vs. Specific
           a. Commercial building and business personal
                                                                                           W. Burglary, Robbery, Theft, and Mysterious
              property form
                                                                                               Disappearance
           b. Causes of loss forms
           c. Business income                                                            III. POLICY PROVISIONS AND CONTRACT LAW ...............11
           d. Extra expense                                                                   A. Declarations
        3. Business Owners Policy (BOP)                                                       B. Insuring agreement
        4. Builders Risk                                                                      C. Conditions
    D. Inland marine                                                                          D. Exclusions
        1. Personal Articles floaters                                                         E. Definition of the insured
        2. Commercial Property floaters                                                       F. Duties of the insured
        3. Nationwide Definition                                                              G. Obligations of the insurance company
    E. National Flood Insurance Program                                                       H. Mortgagee rights
    F. Others                                                                                  I. Proof of loss
        1. Earthquake                                                                         J. Notice of claim
        2. Mobile Homes                                                                       K. Appraisal
        3. Watercraft                                                                         L. Other Insurance Provision
        4. Farm Owners                                                                        M. Assignment
        5. Crop/hail                                                                          N. Subrogation
        6. Windstorm                                                                          O. Elements of a contract
                                                                                              P. Warranties, representations, and concealment
II. INSURANCE TERMS AND RELATED CONCEPTS ......... 14
                                                                                              Q. Sources of underwriting information
     A. Insurance
                                                                                              R. Fair Credit Reporting Act
         1. Law of Large Numbers

        ARKANSAS Insurance Supplement - Examination Content Outlines                                              Effective: March 1, 2011

                                                                                    S5
    S. Privacy Protection (Gramm Leach Bliley)                                               10. Individual Insured and Drive Other Car (DOC)
    T. Policy Application                                                                  C. Workers Compensation Insurance, Employers
    U. Terrorism Risk Insurance Act (TRIA)                                                    Liability Insurance, and Related Issues
                                                                                            (This section does not deal with specifics of state law, which
                                                                                            are addressed elsewhere in this outline.)
                 CASUALTY                                                                     1. Standard policy concepts
             GENERAL KNOWLEDGE                                                                   a. Who is an employee/employer
                     CONTENT OUTLINE                                                             b. Compensation
      Product Knowledge, Terms, and Concepts                                                        (1) Loss of wages
      (50 scoreable questions plus 10 pretest questions)                                            (2) Medical
                                                                                                    (3) Disability
I. TYPES OF POLICIES, BONDS, AND
                                                                                                    (4) Vocational Rehabilitation
    RELATED TERMS............................................................. 23
                                                                                                    (5) Death/Survivor
    A. Commercial general liability
                                                                                              2. Work-related vs. non-work-related
       1. Exposures
                                                                                              3. Other states’ insurance
          a. Premises and Operations
                                                                                              4. Employers Liability
          b. Products and Completed Operations
                                                                                              5. Exclusive remedy
       2. Coverage
                                                                                              6. Premium Determination
          a. Coverage A: Bodily Injury and Property Damage
                                                                                           D. Crime
              Liability
                                                                                              1. Employee Dishonesty
              (1) Occurrence
                                                                                              2. Theft
              (2) Claims made
                                                                                              3. Robbery
                  (a) Extended Reporting Periods: Basic and
                                                                                              4. Burglary
                     Supplemental
                                                                                              5. Forgery and Alteration
                  (b) Retroactive Date
                                                                                           E. Bonds
          b. Coverage B: Personal Injury and Advertising
                                                                                              1. Surety
              Injury
                                                                                              2. Fidelity
          c. Coverage C: Medical Payments
                                                                                           F. Professional liability
          d. Supplemental Payments
                                                                                              1. Errors and Omissions
          e. Who is an insured
                                                                                              2. Medical Malpractice
          f. Limits
                                                                                              3. Directors and Officers (D&O)
          g. Damage to Property of Others
                                                                                              4. Employment Practices Liability (EPLI)
              (1) Per occurrence
                                                                                           G. Umbrella/Excess Liability
              (2) Annual Aggregate
    B. Automobile: personal auto and business auto                                       II. INSURANCE TERMS AND RELATED CONCEPTS..........15
       1. Liability                                                                           A. Risk
          a. Bodily Injury                                                                    B. Hazards
          b. Property Damage                                                                      1. Moral
          c. Split Limits                                                                         2. Morale
          d. Combined Single Limit                                                                3. Physical
       2. Medical Payments                                                                    C. Indemnity
       3. Physical Damage (collision; other than collision;                                   D. Insurable interest
          specified perils)                                                                   E. Actual cash value
       4. Uninsured motorists                                                                 F. Negligence
       5. Underinsured motorists                                                              G. Liability
       6. Who is an insured                                                                   H. Occurrence
       7. Types of Auto                                                                        I. Binders
          a. Owned                                                                            J. Warranties
          b. Non-owned                                                                        K. Representations
          c. Hired                                                                            L. Concealment
          d. Temporary Substitute                                                             M. Deposit Premium/Audit
          e. Newly Acquired Autos                                                             N. Certificate of Insurance
          f. Transportation Expense and Rental                                                O. Law of Large Numbers
              Reimbursement Expense                                                           P. Pure vs. Speculative Risk
       8. Garage Coverage Form, including Garagekeepers                                       Q. Endorsements
          Insurance                                                                           R. Damages
       9. Exclusions                                                                              1. Compensatory


        ARKANSAS Insurance Supplement - Examination Content Outlines                                                  Effective: March 1, 2011

                                                                                    S6
           a. General                                                                                d. Resident/Nonresident
           b. Special                                                                                e. Temporary license
        2. Punitive                                                                              2. Producer appointment/termination of
     S. Compliance with provisions of Fair Credit                                                    contract
        Reporting Act                                                                            3. Exemptions/exceptions
                                                                                                 4. Maintaining a license
III. POLICY PROVISIONS ...................................................... 12
                                                                                                     a. Continuing education
     A. Declarations
                                                                                                     b. Change of address
     B. Insuring agreement
                                                                                                     c. Administrative fees
     C. Conditions
                                                                                                 5. Renewal, suspension or revocation of
     D. Exclusions and Limitations
                                                                                                     license
     E. Definition of the insured
                                                                                              D. Producer responsibilities
     F. Duties of the insured after a loss
                                                                                                 Ref: 23-64-223, 224; 23-65-101
     G. Cancellation and nonrenewal provisions
                                                                                                 1. Fiduciary capacity
     H. Additional (supplementary) payments
                                                                                                 2. Commissions
      I. Proof of loss
                                                                                                 3. Fraud Reporting
     J. Notice of claim
                                                                                              E. Property and Casualty Insurance Guaranty
     K. Arbitration
                                                                                                 Association
     L. Other insurance
                                                                                                 Ref: 23-90-102-104, 106, 111, 112
     M. Subrogation
                                                                                              F. Marketing practices
     N. Loss settlement provisions including consent to
                                                                                                 Ref: 23-66-206, 210, 211, 306; Rule & Reg. 43:7-9
         settle a loss
                                                                                                 1. Unfair claims practices
     O. Terrorism Risk Insurance Act (TRIA)
                                                                                                 2. Unfair methods of competition
                                                                                                     a. Rebating
                MULTI-LINE (P&C)                                                                     b. Misrepresentation
               ARKANSAS SPECIFIC                                                                     c. False advertising
                     CONTENT OUTLINE                                                                 d. Defamation
         State Statutes, Rules, and Regulations                                                      e. False financial statements
                                                                                                     f. Boycott, coercion, intimidation
          (25 questions plus 5 pretest questions)
                                                                                                     g. Unfair discrimination
I.    STATE STATUTES, RULES, AND REGULATIONS                                                         h. Twisting
      COMMON TO LIFE, HEALTH, PROPERTY, AND
                                                                                        II.   ARKANSAS STATUTES, RULES AND
      CASUALTY INSURANCE
                                                                                              REGULATIONS COMMON TO MULTI-LINE (P&C)
      A. The Insurance Commissioner
                                                                                              INSURANCE ONLY
         Ref: 23-60-108; 23-61-102, 103, 108, 110,
                                                                                              A. Definitions
         201, 202; 301-307
                                                                                                 Ref: 23-62-104, 105, 107; 23-65-303-305, 308, 309; 23-
         1. Appointment
                                                                                                 79-307, 23-88-101; Title 16-64-122
         2. General duties and powers
                                                                                                 1. Surplus Lines
         3 Examination of records
                                                                                                 2. Adjusting
         4. Hearings/notice of hearings
                                                                                                 3. Property insurance
         5. Penalties
                                                                                                 4. Casualty insurance
      B. Definitions
                                                                                                 5. Marine insurance
         Ref: 23-60-102; 23-63-201, 202; 23-69-102;
                                                                                                 6. Valued Policy Law
         23-74-105
                                                                                                 7. Comparative Fault
         1. Authorized and unauthorized companies
                                                                                                 8. Commercial Liability
         2. Domestic, foreign, and alien companies
                                                                                                 9. Nonrenewal
         3. Fraternals
                                                                                              B. Rural Risk Underwriting
         4. Stock and mutual companies
                                                                                                 Ref: 23-88-301, 303, 304, 306
         5. Certificate of authority
                                                                                                 1. Definitions
         6. Insurance transaction
                                                                                                 2. Coverage/provisions
      C. Licensing
                                                                                              C. Anti-Arson applications
         Ref: 23-64-102, 202, 203, 210, 214- 218, 220, 223,
                                                                                                 Ref: 23-88-202-210
         301-305; 23-66-209
                                                                                                 1. Provisions
         1. Persons required to be licensed
                                                                                                 2. Notice of change
             a. Producer
                                                                                                 3. Cancellations
             b. Adjuster
                                                                                              D. Homeowners Coverage
             c. Consultant

        ARKANSAS Insurance Supplement - Examination Content Outlines                                                  Effective: March 1, 2011

                                                                                   S7
          Ref: 23-62-104; 23-66-206, 210                                           3. Physical Damage (collision; other than collision;
          1. Provisions                                                               specified perils)
          2. Cancellation/renewal/nonrenewal                                       4. Uninsured motorists
     E.   Farmowners                                                               5. Underinsured motorists
     F.   Automobile insurance                                                     6. Who is an insured
          Ref: 23-89-202, 209, 303-305; 401, 403, 404;                             7. Types of Auto
          Title 27-19-605, 711-713; Title 27-22-104                                   a. Owned
          1. Required coverage/liability limits                                       b. Non-owned
          2. Financial responsibility/proof of insurance                              c. Hired
          3. Uninsured/underinsured motorist                                          d. Temporary Substitute
          4. Cancellation/nonrenewal                                                  e. Newly Acquired Autos
     G.    Arkansas Automobile Insurance Plan                                         f. Transportation Expense and Rental
          Ref: 23-89-307; Title 27-19-106                                                 Reimbursement Expense
          1. Personal                                                              8. Exclusions
     H.   Employers Liability and Workers                                       B. Umbrella/Excess liability
          Compensation
                                                                             III. PROPERTY AND CASUALTY INSURANCE TERMS
          Ref: 23-67-304; Title 11-9-101, 102, 201, 205, 401, 403,
                                                                                  AND RELATED CONCEPTS .............................................28
          501, 502, 508, 509, 516, 527, 701
                                                                                  A. Insurance
          1. Definitions
                                                                                      1. Law of Large Numbers
          2. Coverages/benefits
                                                                                  B. Insurable interest
             PERSONAL LINES                                                       C. Risk
           GENERAL KNOWLEDGE                                                          1. Pure vs. Speculative Risk
               CONTENT OUTLINE                                                    D. Hazard
     Product Knowledge, Terms, and Concepts                                           1. Moral
                                                                                      2. Morale
     (75 scoreable questions plus 11 pretest questions)
                                                                                      3. Physical
I. TYPES OF PROPERTY POLICIES..................................... 10             E. Peril
     A. Homeowners                                                                F. Loss
         1. HO-2                                                                      1. Direct
         2. HO-3                                                                      2. Indirect
         3. HO-4                                                                  G. Loss Valuation
         4. HO-5                                                                      1. Actual cash value
         5. HO-6                                                                      2. Replacement cost
         6. HO-8                                                                      3. Market value
     B. Dwelling policies                                                             4. Stated value
         1. DP-1                                                                      5. Salvage value
         2. DP-2                                                                  H. Proximate cause
         3. DP-3                                                                   I. Deductible
     C. Inland marine                                                             J. Indemnity
         1. Personal Articles floaters                                            K. Limits of liability
         2. Nationwide Definition                                                 L. Coinsurance/Insurance to value
     D. National Flood Insurance Program                                          M. Occurrence
     E. Others                                                                    N. Cancellation
         1. Earthquake                                                            O. Nonrenewal
         2. Mobile Homes                                                          P. Vacancy and unoccupancy
         3. Watercraft                                                            Q. Liability
         4. Crop/hail                                                                 1. Absolute
         5. Windstorm                                                                 2. Strict
II. TYPES OF CASUALTY POLICIES.................................... 13                 3. Vicarious
     A. Automobile: personal auto                                                 R. Negligence
         1. Liability                                                             S. Binder
            a. Bodily Injury                                                      T. Endorsements
            b. Property Damage                                                    U. Medical Payments
            c. Split Limits                                                       V. Blanket vs. Specific
            d. Combined Single Limit                                             W. Burglary, Robbery, Theft, and Mysterious
         2. Medical Payments                                                          Disappearance


       ARKANSAS Insurance Supplement - Examination Content Outlines                                          Effective: March 1, 2011

                                                                        S8
      X. Warranties                                                                       B. Definitions
      Y. Representations                                                                     Ref: 23-60-102; 23-63-201, 202; 23-69-102;
      Z. Concealment                                                                         23-74-105
     AA. Deposit Premium/Audit                                                               1. Authorized and unauthorized companies
     BB. Certificate of Insurance                                                            2. Domestic, foreign, and alien companies
     CC. Damages                                                                             3. Fraternals
         1. Compensatory                                                                     4. Stock and mutual companies
            a. General                                                                       5. Certificate of authority
            b. Special                                                                       6. Insurance transaction
         2. Punitive                                                                      C. Licensing
     DD. Compliance with Provisions of Fail Credit                                           Ref: 23-64-102, 202, 203, 210, 214- 218, 220, 223,
         Reporting Act                                                                       301-305; 23-66-209
                                                                                             1. Persons required to be licensed
IV. PROPERTY AND CASUALTY POLICY PROVISIONS
                                                                                                 a. Producer
   AND CONTRACT LAW ..................................................... 24
    A. Declarations                                                                              b. Adjuster
                                                                                                 c. Consultant
    B. Insuring agreement
                                                                                                 d. Resident/Nonresident
    C. Conditions
    D. Exclusions                                                                                e. Temporary license
                                                                                             2. Producer appointment/termination of contract
    E. Definition of the insured
                                                                                             3. Exemptions/exceptions
    F. Duties of the insured
    G. Obligations of the insurance company                                                  4. Maintaining a license
                                                                                                 a. Continuing education
    H. Mortgagee rights
                                                                                                 b. Change of address
     I. Proof of loss
    J. Notice of claim                                                                           c. Administrative fees
                                                                                             5. Renewal, suspension or revocation of
    K. Appraisal
                                                                                                 license
    L. Other Insurance Provision
   M. Assignment                                                                          D. Producer responsibilities
                                                                                             Ref: 23-64-223, 224; 23-65-101
    N. Subrogation
                                                                                             1. Fiduciary capacity
    O. Elements of a contract
    P. Warranties, representations, and concealment                                          2. Commissions
                                                                                             3. Fraud Reporting
    Q. Sources of underwriting information
                                                                                          E. Property and Casualty Insurance Guaranty
    R. Fair Credit Reporting Act
    S. Privacy Protection (Gramm Leach Bliley)                                               Association
                                                                                             Ref: 23-90-102-104, 106, 111, 112
    T. Policy Application
                                                                                          F. Marketing practices
    U. Terrorism Risk Insurance Act (TRIA)
    V. Cancellation and nonrenewal provisions                                                Ref: 23-66-206, 210, 211, 306; Rule & Reg. 43: 7-9
                                                                                             1. Unfair claims practices
   W. Additional (supplementary) payments
                                                                                             2. Unfair methods of competition
    X. Arbitration
                                                                                                 a. Rebating
                                                                                                 b. Misrepresentation
                PERSONAL LINES                                                                   c. False advertising
               ARKANSAS SPECIFIC                                                                 d. Defamation
                    CONTENT OUTLINE                                                              e. False financial statements
          State Statutes, Rules and Regulations                                                  f. Boycott, coercion, intimidation
                                                                                                 g. Unfair discrimination
        (25 scoreable questions plus 2 pretest questions)
                                                                                                 h. Twisting
I.      STATE STATUTES, RULES, AND REGULATIONS
                                                                                    II.   ARKANSAS STATUTES, RULES AND
        COMMON TO PROPERTY AND CASUALTY
                                                                                          REGULATIONS COMMON TO PERSONAL LINES
        INSURANCE
                                                                                          INSURANCE ONLY
        A. The Insurance Commissioner
                                                                                          A. Definitions
           Ref: 23-60-108; 23-61-102, 103, 108, 110,
                                                                                             Ref: 23-62-104, 105, 107; 23-65-303-305, 308, 309;23-
           201, 202; 301-307
                                                                                             79-307, 23-88-101; Title 16-64-122
           1. Appointment
                                                                                             1. Adjusting
           2. General duties and powers
                                                                                             2. Property insurance
           3 Examination of records
                                                                                             3. Casualty insurance
           4. Hearings/notice of hearings
                                                                                             4. Marine insurance
           5. Penalties

         ARKANSAS Insurance Supplement - Examination Content Outlines                                            Effective: March 1, 2011

                                                                               S9
             5. Policy Law                                                 B.   Concurrent insurance
             6. Comparative Fault                                          C.   Actual Cash Value
             7. Nonrenewal                                                 D.   Causation
        B.   Rural Risk Underwriting                                       E.   Loss
             Ref: 23-88-301, 303, 304, 306
                                                                    II.    ARKANSAS PROPERTY FORMS/COVERAGES
             1. Definitions
                                                                           A. Homeowners
             2. Coverage/provisions
                                                                           B. Fire
        C.   Homeowners Coverage
                                                                           C. Condominium
             Ref: 23-62-104; 23-66-206, 210
                                                                           D. Dwelling
             1. Provisions
                                                                           E. Commercial
             2. Cancellation/renewal/nonrenewal
        D.   Farm owners                                            III.   ARKANSAS PROPERTY ADJUSTING
        E.   Automobile insurance                                          A. Adjusting practices
             Ref: 23-89-202, 209, 303-305; 401, 403, 404;                  B. Loss settlement
             Title 27-19-605, 711-713; Title 27-22-104                     C. Total/partial loss
             1. Required coverage/liability limits                         D. Coinsurance
             2. Financial responsibility/proof of insurance
             3. Uninsured/underinsured motorist
             4. Cancellation/nonrenewal
                                                                         ARKANSAS CASUALTY ADJUSTER
        F.    Arkansas Automobile Insurance Plan                                      CONTENT OUTLINE
             Ref: 23-89-307; Title 27-19-106                                            (25 scoreable questions)
             1. Personal
                                                                    I.     GENERAL CASUALTY DEFINITIONS
                                                                           A. Bodily injury
       ARKANSAS GENERAL ADJUSTER                                           B. Comparative fault
                     CONTENT OUTLINE                                       C. Actual cash value
                                                                           D. Statements
                      (25 scoreable questions)
                                                                           E. Depreciation
I.      GENERAL INSURANCE DEFINITIONS                                      F. Burden of proof
        A. Policies                                                        G. Waivers
        B. Dates
                                                                    II.    ARKANSAS CASUALTY POLICIES/COVERAGES
        C. Attachments
                                                                           A. Automobile
        D. Binders
                                                                           B. Liability
        E. Subrogation
                                                                           C. Personal injury protection (PIP)
        F. Value
        G. Proof of Loss                                            III.   ARKANSAS CASUALTY ADJUSTING
        H. Claimant                                                        A. Claims practices
                                                                           B. Loss settlement
II.     ARKANSAS INSURANCE COMMISSIONER,
                                                                           C. Liability
        LICENSING
                                                                           D. Coinsurance
        A. Duties of the Commissioner
        B. Adjuster licensing
        C. Resident/Nonresident                                                      ARKANSAS
        D. Suspension, revocation
                                                                                WORKERS COMPENSATION
III.    UNFAIR TRADE PRACTICES                                                       ADJUSTER
IV.     GENERAL ADJUSTING PRACTICES                                                   CONTENT OUTLINE
        A. Claim settlement practices                                                  (25 scoreable questions)
        B. Liability
        C. Representation                                           I.     WORKERS COMPENSATION DEFINITIONS
        D. Investigation                                                   A. Employee
                                                                           B. Employer
     ARKANSAS PROPERTY ADJUSTER                                            C. Waiting period
                     CONTENT OUTLINE
                                                                    II.    ARKANSAS WORKERS COMPENSATION LAW
                      (25 scoreable questions)
                                                                           A. Coverage
I.      GENERAL PROPERTY DEFINITIONS                                       B. Filings
        A. Policies                                                        C. Payments
                                                                           D. Benefits

         ARKANSAS Insurance Supplement - Examination Content Outlines                            Effective: March 1, 2011

                                                              S10
III.   ARKANSAS WORKERS COMPENSATION                                  D. Extended coverage
       ADJUSTING                                                      E. Employee Dishonesty
       A. Claims practices                                            F. Liability
       B. Wage determinations                                            1. Contingent
       C. Hearing                                                        2. Umbrella
       D. Medical examinations                                           3. Contractual
       E. Settlements/awards
                                                               III.   ARKANSAS INSURANCE COMMISSIONER,
            ARKANSAS CROP HAIL                                        SURPLUS LINES LICENSING
                 CONTENT OUTLINE                                      A. Powers and duties of the Insurance
                  (25 scoreable questions)                               Commissioner
                                                                      B. Filings
I.     GENERAL INSURANCE DEFINITIONS                                  C. Required bonds
       A. Risk                                                        D. License requirements, issuance
       B. Peril                                                       E. License revocation, suspension
       C. Indemnity
       D. Negligence                                           IV.    ARKANSAS SURPLUS LINES LAW
                                                                      A. Purpose
       E. Binder
                                                                      B. Reports, records
       F. Loss
                                                                      C. Coverage
       G. Assignment
                                                                      D. Definitions
II.    INSURANCE COMMISSIONER, LICENSING                              E. Premiums, evidence of insurance
       A. Powers and duties of the Insurance                          F. Policy wording
          Commissioner                                                G. Premium tax
       B. Producer licensing

III.   UNFAIR TRADE PRACTICES

IV.    ARKANSAS CROP HAIL
       A. Crop Hail organizations
       B. Measurement/identification
       C. Multi Peril crop insurance
       D. Loss
       E. Federal acts
       F. Adjusting
       G. Other coverages
       H. Crop definitions

        ARKANSAS SURPLUS LINES
                 CONTENT OUTLINE
                  (50 scoreable questions)

I.     GENERAL INSURANCE DEFINITIONS
       A. Actual cash value
       B. Agreed value
       C. Coinsurance
       D. Insurable interest
       E. Loss
       F. Negligence
       G. Physical hazard
       H. Proximate cause
       I. Reinsurance
       J. Replacement cost
       K. Risk
       L. Salvage

II.    POLICIES, COVERAGES, FORMS
       A. Commercial General Liability
       B. Building and Personal Property
       C. Claims Made

        ARKANSAS Insurance Supplement - Examination Content Outlines                     Effective: March 1, 2011

                                                         S11
          Arkansas
                                                                 Notice to Title Agent Candidates
          Insurance

What is the definition of a Title Agent?
"Title Agent" is any person, appointed in writing by a title insurer for the purpose of issuing and countersigning binders, commitments,
policies of title insurance, or guarantees of title in its behalf.

How do I schedule and take the new Title Agent Exam?
Please follow the exam reservation, exam day, and exam preparation procedures listed in the Handbook.


What will be covered on the new Title Agent Exam?
This Content Outline provides information on what is included on the Title Exam.



                 ARKANSAS TITLE
                   CONTENT OUTLINE
                  (60 scoreable questions)
I.    ARKANSAS STATUTES, RULES, AND
      REGULATIONS COMMON TO ALL LINES OF
      INSURANCE
      A. The Insurance Commissioner
         1. Appointment
         2. Term
         3. General duties and powers
         4. Examination of records
         5. Hearings/notice of hearings
         6. Penalties
      B. Licensing
         1. Persons required to be licensed
            a. Title Insurance Agent
         2. Producer appointment/termination of contract
         3. Maintaining a license
            a. Continuing education
            b. Administrative fees
         4. Renewal, suspension or revocation of
            license
      C. Producer responsibilities
         1. Fiduciary capacity
      D. Marketing practices
         1. Real Estate Settlement Procedures Act
         (RESPA)

II.   ARKANSAS STATUTES, RULES AND
      REGULATIONS COMMON TO TITLE INSURANCE
      ONLY
      A. Policies, Coverages, Forms
      B. Exclusions, Conditions, and Stipulations
      C. Title searching and examinations: terms,
         processes, and statutes




       ARKANSAS Insurance Supplement - Examination Content Outlines                                           Effective: March 1, 2011

                                                                       S12

								
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