Arkansas Life and Health Insurance Practice Exam

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Prepare for the Arkansas Life and Health Insurance Exam. Utilize flashcards and multiple-choice questions with hints and explanations for each question. Get thoroughly ready for your certification test!

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The term 'mode' refers to the:

Discounts available on the policy
Frequency of premium payments
Policy's maturity date
Coverage period of the policy

The correct answer is: Discounts available on the policy

Mode refers to the discounts that are available on a policy. The other options are incorrect because B, frequency of premium payments, is typically referred to as the "premium payment schedule" and is different from mode. C, the policy's maturity date, refers to when the policy ends, not discounts available. Lastly, D, coverage period of the policy, refers to the length of time the policy is in effect, not discounts available. When discussing insurance policies, mode specifically refers to the discounts offered.