Arkansas Life and Health Insurance Practice Exam 2025 - Free Life and Health Insurance Practice Questions and Study Guide

Question: 1 / 400

Which of the following entities determines what benefits are payable under an insurance policy?

State Legislature

The other options are incorrect because they do not have the authority or responsibility to determine what benefits are payable under an insurance policy.

The State Legislature is responsible for creating laws and regulations that govern insurance policies, making them the ultimate decision-makers.

The Insurance Commissioner oversees insurance companies and enforces laws and regulations, but does not determine specific benefits.

The Underwriter assesses risk and sets premiums for insurance policies, but does not have the authority to determine benefits.

The Actuary calculates risk and sets premiums, but does not have the authority to determine benefits either.

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Insurance Commissioner

Underwriter

Actuary

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