Arkansas Insurance Adjuster Practice Exam

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Prepare for the Arkansas Insurance Adjuster Exam with flashcards and multiple choice questions, each offering hints and explanations. Equip yourself for your test confidently!

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Which of the following is NOT a characteristic of social insurance programs?

Social insurance programs are designed to meet the needs of the general public as a whole.
Social insurance programs involve mandatory participation.
Social insurance programs are for-profit programs.
The benefits of a social insurance program may be prescribed by federal law.

The correct answer is: Social insurance programs are for-profit programs.

Social insurance programs are not for-profit programs. They are designed to provide financial support and protection to individuals or families in certain situations, such as retirement, disability, or unemployment. They are funded by contributions from both employees and employers, not by profits. Options A, B, and D are all characteristics of social insurance programs. Option A highlights the fact that social insurance programs are meant to benefit the general public. Option B emphasizes that participation in these programs is mandatory for certain individuals or groups. Option D states that the benefits provided by social insurance programs may be prescribed by federal laws and regulations.