Arkansas Insurance Adjuster Practice Exam

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Which settlement option is usually reserved for the largest claims?

  1. Scheduled payment release

  2. Structured settlement

  3. Advance payment settlement

  4. No-release settlement

The correct answer is: Structured settlement

A structured settlement is typically used for large claims because it usually involves a large sum of money and creates a structured payment plan for the recipient. Scheduled payment release, also known as a "retained-asset account," allows for installment payments but does not involve a structured plan like a structured settlement does. Advance payment settlement and no-release settlement are not typically used for large claims and are not as commonly used as structured settlements. They may be used for smaller claims or simpler settlements.

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