I just purchased a new bow yesterday. When I was shooting it, I noticed the arrow was sticking out about 4 inches beyond the rest. I want to get the arrow cut again but I am concerned about the insert. Will a pro shop be able to cut the shaft since the insert is in there? Also, how far should the arrow extend beyond the rest?

They can cut it off,no problem, with a new insert put in.

Varies on the length but probably around an inch or 1.5 inches past the rest.

Yeah they can take it out, i wound say anywhere from .5 inches to 2 inches beyond the rest.
But i have some stump shooters that hang 3 inches over.

If you can find someone that trust you draw your bow back and have him mark an arrow with a sharpey. Cut the rest to match them. Be sure to leave a little extra room for broadhead clearance.