Oklahoma Insurance
Licensing Exam 2026 |
Practice Questions,
Answers & Study Guide
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Updated 2026 Questions and Answers
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, An insured's roof cost $4,000 when installed 5 years ago. 3) $5,000
It has been damaged by hail and must be replaced. The
new roof will cost $6,000 at today's prices. If the roof has
been depreciating at $200 per year and his policy is ACV,
how much will it pay toward the insured's new roof? 1)
$1,000 2) $4,000 3) $5,000 4) $6,000
While an insurance was towing a utility trailer with his 1) property damage liability
auto, the trailer cam loose and ran into a store front. What
part of the insured's auto policy would pay for the
damage to the store? 1) property damage liability 2)
collision coverage 3) comprehensive coverage 4) this
loss would not be covered
The Mail Coverage Form is always written on a reporting 3) 45 days
form basis; after the end of each reporting period shown
in the declarations, reports are due within 1) 30 days 2) 31
days 3) 45 days 4) 15 days
A startup used car dealership buys cars at auto auctions 1) coverage is provided if dealership employees are in possession of the subject
in 30 states. It wants to be certain that damage coverage automobile
is provided when the cars are driven or transported from
the auctions to the dealership. In regard to the business
auto physical damage coverage, which is true? 1)
coverage is provided if dealership employees are in
possession of the subject automobile 2) coverage is
provided at additional premium 3) coverage is provided
for the wholesale amount only 4) coverage is not
provided under the form
What is NOT an insured liability on a BAP? 1) the owner of 1) the owner of a car the insured borrows
a car the insured borrows 2) anyone using a covered auto
with permission 3) anyone liable for the conduct of the
insured 4) the named insured in any covered auto
When applying for an individual life insurance policy, an 4) concealment
applicant states that he went to the doctor for nausea,
but fails to mention that he was also having severe chest
pains. This is an example of 1) misrepresentation 2) fraud
3) warranty 4) concealment
Which of the following statements is true regarding 1) it's elective
workers compensation coverage for sole proprietors? 1)
it's elective 2) it's not allowed 3) it's only allowed for sole
proprietors involved in high risk occupations 4) it's
mandatory
Which of the following commercial crime coverages 1) outside the premises
would cover a loss resulting from theft of the company's
money and securities from the armored vehicle making a
delivery? 1) outside the premises 2) forgery/alteration 3)
robbery and safe burglary 4) inside the premises
Licensing Exam 2026 |
Practice Questions,
Answers & Study Guide
|Graded A+ | Guaranteed
success|
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
, An insured's roof cost $4,000 when installed 5 years ago. 3) $5,000
It has been damaged by hail and must be replaced. The
new roof will cost $6,000 at today's prices. If the roof has
been depreciating at $200 per year and his policy is ACV,
how much will it pay toward the insured's new roof? 1)
$1,000 2) $4,000 3) $5,000 4) $6,000
While an insurance was towing a utility trailer with his 1) property damage liability
auto, the trailer cam loose and ran into a store front. What
part of the insured's auto policy would pay for the
damage to the store? 1) property damage liability 2)
collision coverage 3) comprehensive coverage 4) this
loss would not be covered
The Mail Coverage Form is always written on a reporting 3) 45 days
form basis; after the end of each reporting period shown
in the declarations, reports are due within 1) 30 days 2) 31
days 3) 45 days 4) 15 days
A startup used car dealership buys cars at auto auctions 1) coverage is provided if dealership employees are in possession of the subject
in 30 states. It wants to be certain that damage coverage automobile
is provided when the cars are driven or transported from
the auctions to the dealership. In regard to the business
auto physical damage coverage, which is true? 1)
coverage is provided if dealership employees are in
possession of the subject automobile 2) coverage is
provided at additional premium 3) coverage is provided
for the wholesale amount only 4) coverage is not
provided under the form
What is NOT an insured liability on a BAP? 1) the owner of 1) the owner of a car the insured borrows
a car the insured borrows 2) anyone using a covered auto
with permission 3) anyone liable for the conduct of the
insured 4) the named insured in any covered auto
When applying for an individual life insurance policy, an 4) concealment
applicant states that he went to the doctor for nausea,
but fails to mention that he was also having severe chest
pains. This is an example of 1) misrepresentation 2) fraud
3) warranty 4) concealment
Which of the following statements is true regarding 1) it's elective
workers compensation coverage for sole proprietors? 1)
it's elective 2) it's not allowed 3) it's only allowed for sole
proprietors involved in high risk occupations 4) it's
mandatory
Which of the following commercial crime coverages 1) outside the premises
would cover a loss resulting from theft of the company's
money and securities from the armored vehicle making a
delivery? 1) outside the premises 2) forgery/alteration 3)
robbery and safe burglary 4) inside the premises
