Oklahoma Life, Accident, and Health or Sickness Producer Exam (Ok-Life-Accident-and-Health-or-Sickness-Producer) Free Practice Test

Question 1

Which of the following is NOT a requirement to become a resident producer or adjuster in Oklahoma?

A. Be at least 18 years of age.

B. Successfully passing a licensing examination.

C. Live in Oklahoma for a period of 6 months or more.

D. Must be of good personal and business reputation.

Correct Answer: C

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Question 2

A PRIMARY difference between precertification provision and concurrent review is that only the precertification provision

A. occurs before the treatment is provided.

B. requires the consent of the patient.

C. involves a review by the insurance company.

D. is designed to be a cost containment measure.

Correct Answer: A

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Question 3

An insurance producer who knowingly and willfully makes a fraudulent statement relating to an application for insurance is subject to all of the following EXCEPT

A. censure.

B. suspension.

C. discrimination.

D. revocation.

Correct Answer: C

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Question 4

Under the Standard Nonforfeiture Law, any cash value accumulation MUST be made available to the policyowner if the policyowner

A. becomes disabled.

B. is not notified within 60 days of the contractual changes.

C. stops paying the premium.

D. files for bankruptcy.

Correct Answer: C

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Question 5

All of the following describe a whole life policy EXCEPT

A. provides a death benefit only.

B. provides coverage for the life of the policyholder.

C. premiums are payable until death.

D. a policy of $1,000 minimum.

Correct Answer: D

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Question 6

A newly hired employee gives his enrollment form to his employer, but due to an administrative error, it is never forwarded to the insurance company. The error is detected 3 months later. What will happen if the clerical error provision is in effect?

A. The employee will be allowed to submit a new enrollment form and will be enrolled as of the date the new form is accepted.

B. The employee will be allowed to submit an enrollment form and all past due premiums, and will be retroactively insured.

C. The employee will have to wait until the next open enrollment period to enroll in the plan.

D. The employer will be required to pay the past due premiums.

Correct Answer: B

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Question 7

A type of life insurance policy which provides for the payment of the face amount at the end of the specified period if the insured is still alive, is

A. an endowment policy.

B. a modified life insurance policy.

C. a juvenile trust.

D. a universal life insurance policy.

Correct Answer: A

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Question 8

Spouses want to purchase a life insurance policy that will pay benefits at the death of the first spouse. This is an example of a

A. joint life policy.

B. survivorship life policy.

C. universal life policy.

D. variable life policy.

Correct Answer: A

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Question 9

The act of using misrepresentation to induce an insured person to terminate an existing policy and purchase a new policy is referred to as

A. churning.

B. twisting.

C. rebating.

D. subrogation.

Correct Answer: B

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Question 10

All of the following are DISADVANTAGES of replacing an older health policy EXCEPT

A. a new contestability period.

B. the old policy does not meet policyowner's needs.

C. proving insurability.

D. preexisting conditions.

Correct Answer: B

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Question 11

An agent's underwriting duties include which of the following?

A. Issuing the policy.

B. Completing all applications and collecting initial premiums.

C. Declining or accepting an application.

D. Setting premium amounts.

Correct Answer: B

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Insurance Licensing Oklahoma Life, Accident, and Health or Sickness Producer (Ok-Life-Accident-and-Health-or-Sickness-Producer) Free Practice Test