Arkansas Life and Health Insurance Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Arkansas Life and Health Insurance Exam with our comprehensive quiz featuring multiple-choice questions and detailed explanations. Gain the knowledge and confidence you need to succeed on your test!

Start Multiple Choice Practice Test
Start Flash Cards

Practice this question and more.

Which of the following statements is accurate concerning the changing of an irrevocable beneficiary?

  1. The beneficiary may be changed based on the policyholder’s request

  2. The beneficiary may be changed at any time

  3. The beneficiary may be changed only with the written consent of the present beneficiary

  4. The beneficiary may not be changed under any circumstances

The correct answer is: The beneficiary may be changed based on the policyholder’s request

In Arkansas, the correct statement concerning the changing of an irrevocable beneficiary is that the beneficiary may be changed based on the policyholder's request. Irrevocable beneficiaries can be changed only with the consent of the current beneficiary. This reaffirms the importance of understanding the implications of designating a beneficiary as irrevocable, as such a designation limits the policyholder's ability to change the beneficiary without the present beneficiary's permission.

More Questions Like This