Oklahoma Property & Casualty Exam
Questions With Complete Solutions
Licensing: Change of Address - CORRECT ANSWER✔✔-Notify the
| | | | | | | |
Insurance Commissioner within 30 days of any change in legal name,
| | | | | | | | | | |
mailing address
|
Licensing: Disciplinary Actions - CORRECT ANSWER✔✔-Fraud,
| | | | | |
misrepresentation, dishonesty, noncompliance, committing of insurance
| | | | | |
fraud or unfair trade practice
| | | |
Violation of Insurance Adjusters Licensing Act may be subject to fine of 1k
| | | | | | | | | | | | |
per violation
|
10k per day insurance is practiced illegally, if adjuster convicted of felony
| | | | | | | | | | | |
involving dishonesty or breach of trust, without Commissioner's consent
| | | | | | | |
Licensing: Maintenance (including CE) - CORRECT ANSWER✔✔-24 hours,
| | | | | | | |
3 ethics, 2 hours of legislative updates, 19 hours of general adjuster
| | | | | | | | | | | |
information |
Good for 2 years
| | |
,Licensing: Qualifications - CORRECT ANSWER✔✔-Do not need college
| | | | | | | |
degree
RESIDENT
OK Resident
|
18 years of age
| | |
Trustworthy
Have experience or special education needed to be able to fulfill the
| | | | | | | | | | | |
responsibilities of an adjuster | | | |
Pass exam in 2 years before applying
| | | | | |
NON-RESIDENT
Be at least 18 years old
| | | | |
Be trustworthy
|
,Have the experience or special education needed to be able to fulfill the
| | | | | | | | | | | | |
responsibilities of an adjuster | | |
Live in a state or country, or designate a home state, that grants non-
| | | | | | | | | | | | |
resident licenses to Oklahoma adjusters
| | | |
Hold and maintain a current resident adjuster license, for which the
| | | | | | | | | | |
applicant passed an exam, in the adjuster's home state (or in
| | | | | | | | | | |
a "designated home state" if the home state does not require an exam for
| | | | | | | | | | | | | |
licensure)
If not a US citizen, be in compliance with all federal laws pertaining to
| | | | | | | | | | | | | |
employment.
Licensing: Types of Licensees - CORRECT ANSWER✔✔-1. Property
| | | | | | |
2. Casualty
|
3. Crime and Fidelity
| | |
4. Crop/Hail
|
5. Multi-Peril Crop
| |
6. Worker's Compensation
| |
, State Insurance Statues, Rules, and Regulations: Binders - CORRECT
| | | | | | | | |
ANSWER✔✔-Contracts for temporary insurance, may be made orally or | | | | | | | | |
written
Not valid beyond the issuance of the policy or beyond 90 days from its
| | | | | | | | | | | | | |
effective date, whichever is shorter
| | | |
If policy not issues, binder may be extended or renewed beyond 90 days
| | | | | | | | | | | | |
with written approval of Insurance Commissioner
| | | | |
State Insurance Statues, Rules, and Regulations: Cancellation and
| | | | | | | |
Nonrenewal - CORRECT ANSWER✔✔-Insurer cannot increase premium,
| | | | | | |
rates, cancel policy, or refuse to issue/renew policy solely because
| | | | | | | | | |
policyholder inquired about making claim (but did not actually make one)
| | | | | | | | | |
State Insurance Statues, Rules, and Regulations: Cancellation and
| | | | | | | |
Nonrenewal - Commercial - CORRECT ANSWER✔✔-Insurer must send
| | | | | | | |
written notice in advance
| | |
- notice of cancellation: 10 days in advance
| | | | | | |
- notice of nonrenewal: 45 days in advance
| | | | | | |
State Insurance Statues, Rules, and Regulations: Cancellation and
| | | | | | | |
Nonrenewal - Residential - CORRECT ANSWER✔✔-After policy has been
| | | | | | | | |
Questions With Complete Solutions
Licensing: Change of Address - CORRECT ANSWER✔✔-Notify the
| | | | | | | |
Insurance Commissioner within 30 days of any change in legal name,
| | | | | | | | | | |
mailing address
|
Licensing: Disciplinary Actions - CORRECT ANSWER✔✔-Fraud,
| | | | | |
misrepresentation, dishonesty, noncompliance, committing of insurance
| | | | | |
fraud or unfair trade practice
| | | |
Violation of Insurance Adjusters Licensing Act may be subject to fine of 1k
| | | | | | | | | | | | |
per violation
|
10k per day insurance is practiced illegally, if adjuster convicted of felony
| | | | | | | | | | | |
involving dishonesty or breach of trust, without Commissioner's consent
| | | | | | | |
Licensing: Maintenance (including CE) - CORRECT ANSWER✔✔-24 hours,
| | | | | | | |
3 ethics, 2 hours of legislative updates, 19 hours of general adjuster
| | | | | | | | | | | |
information |
Good for 2 years
| | |
,Licensing: Qualifications - CORRECT ANSWER✔✔-Do not need college
| | | | | | | |
degree
RESIDENT
OK Resident
|
18 years of age
| | |
Trustworthy
Have experience or special education needed to be able to fulfill the
| | | | | | | | | | | |
responsibilities of an adjuster | | | |
Pass exam in 2 years before applying
| | | | | |
NON-RESIDENT
Be at least 18 years old
| | | | |
Be trustworthy
|
,Have the experience or special education needed to be able to fulfill the
| | | | | | | | | | | | |
responsibilities of an adjuster | | |
Live in a state or country, or designate a home state, that grants non-
| | | | | | | | | | | | |
resident licenses to Oklahoma adjusters
| | | |
Hold and maintain a current resident adjuster license, for which the
| | | | | | | | | | |
applicant passed an exam, in the adjuster's home state (or in
| | | | | | | | | | |
a "designated home state" if the home state does not require an exam for
| | | | | | | | | | | | | |
licensure)
If not a US citizen, be in compliance with all federal laws pertaining to
| | | | | | | | | | | | | |
employment.
Licensing: Types of Licensees - CORRECT ANSWER✔✔-1. Property
| | | | | | |
2. Casualty
|
3. Crime and Fidelity
| | |
4. Crop/Hail
|
5. Multi-Peril Crop
| |
6. Worker's Compensation
| |
, State Insurance Statues, Rules, and Regulations: Binders - CORRECT
| | | | | | | | |
ANSWER✔✔-Contracts for temporary insurance, may be made orally or | | | | | | | | |
written
Not valid beyond the issuance of the policy or beyond 90 days from its
| | | | | | | | | | | | | |
effective date, whichever is shorter
| | | |
If policy not issues, binder may be extended or renewed beyond 90 days
| | | | | | | | | | | | |
with written approval of Insurance Commissioner
| | | | |
State Insurance Statues, Rules, and Regulations: Cancellation and
| | | | | | | |
Nonrenewal - CORRECT ANSWER✔✔-Insurer cannot increase premium,
| | | | | | |
rates, cancel policy, or refuse to issue/renew policy solely because
| | | | | | | | | |
policyholder inquired about making claim (but did not actually make one)
| | | | | | | | | |
State Insurance Statues, Rules, and Regulations: Cancellation and
| | | | | | | |
Nonrenewal - Commercial - CORRECT ANSWER✔✔-Insurer must send
| | | | | | | |
written notice in advance
| | |
- notice of cancellation: 10 days in advance
| | | | | | |
- notice of nonrenewal: 45 days in advance
| | | | | | |
State Insurance Statues, Rules, and Regulations: Cancellation and
| | | | | | | |
Nonrenewal - Residential - CORRECT ANSWER✔✔-After policy has been
| | | | | | | | |
