Arkansas Life and Health Insurance Practice Exam

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The Mode of Premium provision addresses:

  1. The frequency of premium payments

  2. The location where premium payments are made

  3. The method of premium calculation

  4. To whom the premiums are payable to

The correct answer is: To whom the premiums are payable to

The Mode of Premium provision refers to the way in which premiums are paid, such as monthly, quarterly, or annually. Therefore, it does not address the frequency of premium payments (A) or the location where payments are made (B). It also does not pertain to the method of premium calculation (C). The correct answer is D because it specifically relates to who receives the payments, such as the insurance company or a designated beneficiary.

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