Arkansas Life and Health Insurance Practice Exam

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Study for the Arkansas Life and Health Insurance Exam with our comprehensive resources. Utilize multiple-choice questions and flashcards to increase your knowledge and understanding. Get ready to pass your exam and jumpstart your career in the insurance industry!

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Medicare Part B coverage is:

Automatic and mandatory for everyone over 65
Automatic unless declined
Elective and partially funded by premiums
Elective and fully funded by premiums

The correct answer is: Elective and partially funded by premiums

Medicare Part B coverage is not automatic for everyone over 65 (option A) as individuals are required to enroll during certain enrollment periods. Additionally, it is not fully funded by premiums (option D) as there is also government funding involved. Medicare Part B coverage is also not automatically provided unless declined (option B), as individuals still need to actively enroll. The correct answer, option C, highlights that Medicare Part B coverage is an elective choice for individuals, with premiums that are partially funded by both individuals and the government.