Oklahoma Life and Health Final Exam
Questions and Answers
Question 1
In a disability income contract, an insured is considered to be totally disabled under
the presumptive disability provision if he/she
Correct Answer
Loses the ability to speak
Question 2
The initial premium for a life insurance policy is typically paid in what way?
Correct Answer
It is typically obtained by the producer and forwarded to the insurer
Question 3
When a producer uses physical or mental force, with the intent of convincing an
applicant to buy insurance, this is considered:
Correct Answer
Coercion
Question 4
What is taken into consideration when defining "total disability" in a disability income
insurance policy?
Correct Answer
The insured's education, training, and experience
Page 1 of 30
,Question 5
The "Use it of Lose it" rule applies to
Correct Answer
Flexible Savings Accounts
Question 6
Who is protected with the "other insurance with this insurer" provision?
Correct Answer
Insurance company
Question 7
An insured files for an accident and health insurance policy claim eight days after the
premium due date. The benefit payable is $500 and the overdue premium is $200.
Assuming that the policy pays on a first-dollar basis and contains the unpaid
premium provision, how much will the insurer pay?
Correct Answer
$300
Question 8
Omar is covered by a disability income policy. He is hurt while performing an
occupation more hazardous than the occupation listed in his policy. The policy's
change of occupation provision will have what effect?
Correct Answer
Reduce the benefit level
Question 9
Which benefit supplement added to a life insurance policy insures an entire family?
Correct Answer
Family term rider
Page 2 of 30
, Question 10
Which statement best describes a single premium whole life policy?
Correct Answer
Paid-up policy that offers lifetime protection
Question 11
If a Texas company proposes, and/or makes an insurance contract by mail for an
Oklahoma resident, this is considered:
Correct Answer
Business in the state of Oklahoma
Question 12
The Change of Occupation provision in a Disability Income policy states that, in the
event the insured changes to a less hazardous occupation, which of the following may
apply?
Correct Answer
Benefits can be increased in the event of a covered claim
Question 13
A health insurer MUST provide a proof of loss form
Correct Answer
Within 15 days of receipt of the notice of loss
Question 14
Kelly purchases a health insurance policy issued on a conditionally renewable basis.
The insurance company has a right to refuse renewal of the policy for
Correct Answer
Specific reasons stated in the contract
Page 3 of 30
Questions and Answers
Question 1
In a disability income contract, an insured is considered to be totally disabled under
the presumptive disability provision if he/she
Correct Answer
Loses the ability to speak
Question 2
The initial premium for a life insurance policy is typically paid in what way?
Correct Answer
It is typically obtained by the producer and forwarded to the insurer
Question 3
When a producer uses physical or mental force, with the intent of convincing an
applicant to buy insurance, this is considered:
Correct Answer
Coercion
Question 4
What is taken into consideration when defining "total disability" in a disability income
insurance policy?
Correct Answer
The insured's education, training, and experience
Page 1 of 30
,Question 5
The "Use it of Lose it" rule applies to
Correct Answer
Flexible Savings Accounts
Question 6
Who is protected with the "other insurance with this insurer" provision?
Correct Answer
Insurance company
Question 7
An insured files for an accident and health insurance policy claim eight days after the
premium due date. The benefit payable is $500 and the overdue premium is $200.
Assuming that the policy pays on a first-dollar basis and contains the unpaid
premium provision, how much will the insurer pay?
Correct Answer
$300
Question 8
Omar is covered by a disability income policy. He is hurt while performing an
occupation more hazardous than the occupation listed in his policy. The policy's
change of occupation provision will have what effect?
Correct Answer
Reduce the benefit level
Question 9
Which benefit supplement added to a life insurance policy insures an entire family?
Correct Answer
Family term rider
Page 2 of 30
, Question 10
Which statement best describes a single premium whole life policy?
Correct Answer
Paid-up policy that offers lifetime protection
Question 11
If a Texas company proposes, and/or makes an insurance contract by mail for an
Oklahoma resident, this is considered:
Correct Answer
Business in the state of Oklahoma
Question 12
The Change of Occupation provision in a Disability Income policy states that, in the
event the insured changes to a less hazardous occupation, which of the following may
apply?
Correct Answer
Benefits can be increased in the event of a covered claim
Question 13
A health insurer MUST provide a proof of loss form
Correct Answer
Within 15 days of receipt of the notice of loss
Question 14
Kelly purchases a health insurance policy issued on a conditionally renewable basis.
The insurance company has a right to refuse renewal of the policy for
Correct Answer
Specific reasons stated in the contract
Page 3 of 30
