Which of the following statements apply to maintaining an insurance license in the state of Arkansas?

a. Membership in a professional insurance organization or association is not considered a form of continuing education

b. New insurance licenses renew every two years in odd or even years, subject to whether one's birth date occurred in an even year or an odd year

c. The Commissioner may grant a licensee an extension of up to 12 months to complete continuing education

d. A person teaching an approved continuing education course receives twice the number of hours as a person completing the course

Answer: c. The Commissioner may grant a licensee an extension of up to 12 months to complete continuing education

Arkansas State Law

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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